Russell 3000 Adds Pennsylvania Commerce Bancorp to Index
10 Julio 2008 - 11:41AM
Business Wire
Pennsylvania Commerce Bancorp Inc. (NASDAQ:COBH), the $2
billion-asset parent company of Commerce Bank/Harrisburg, NA, today
announced that Russell Investments, upon reconstituting its family
of U.S. equity indexes, has added the bank holding company to the
Russell 3000 Index. Russell�s index reconstitution process is
followed closely by investors because the Russell indexes currently
have $4.4 trillion in assets benchmarked to them and account for an
industry-leading 54 percent of all institutional investment
products that use a benchmark. �Inclusion in the Russell 3000 is a
reflection of our organization�s performance,� said Commerce Bank
Chairman, President and CEO Gary L. Nalbandian. �As a member of
this broadly tracked index, we benefit from an elevated profile for
our stock among investors and fund managers.� The Russell indexes
are value-weighted and include only common stocks belonging to
corporations incorporated in the United States and its territories.
The Russell 3000 Index measures the performance of the 3,000
largest U.S. companies based on total market capitalization, which
represents approximately 98 percent of the investable U.S. equity
market. Commerce Bank/Harrisburg is a financial services retailer
that has produced continuous strong growth since its first office
opened in 1985. Headquartered in Harrisburg, Pa., the sole
subsidiary of Pennsylvania Commerce Bancorp has a growing network
of 33 convenient locations in Berks, Cumberland, Dauphin,
Lancaster, Lebanon and York counties. Commerce�s hallmark products
and services include seven-day banking, free personal checking,
free instant-issue Visa check card, free interactive coin-counting
machines, free online banking and 24/7 bank-by-phone. In addition
to retail banking, Commerce offers a diverse portfolio of
commercial banking services including term loans, commercial
mortgages, commercial leasing and lines of credit, and cash
management services. For more information about Commerce, visit the
bank�s web site at commercepc.com. This press release contains
forward-looking statements concerning future events. Actual results
could differ materially due to the following risks and
uncertainties -- deteriorating economic conditions; increased
competition; interest rate movements; market volatility in the
securities markets; legislative or regulatory developments;
merger-related synergies, savings and integration issues;
technological changes; and other risks and uncertainties discussed
in the company's reports filed from time to time with the
Securities and Exchange Commission. The Company cautions readers
not to place undue reliance on these statements. The Company
undertakes no obligation to publicly release or update any of these
statements.
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