Tower Bancorp Joins Russell 3000 Index
Andrew Samuel, president and CEO of Tower Bancorp Inc. (NASDAQ: TOBC), announced that the company joined the broad-market Russell 3000® Index on June 26, 2009, when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes.
"We are very pleased that Tower Bancorp Inc. was added to the Russell 3000 Index," said Samuel. "Our inclusion in this broad-market index will help further increase our visibility to investors and is a clear validation of our solid business growth and company mission."
The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry leading $4 trillion in assets currently are benchmarked to them.
Established to provide the communities it serves with local banking decision-making, Tower Bancorp Inc. is the parent company of Graystone Tower Bank, a full-service community bank operating 25 branch offices in central Pennsylvania and Maryland through two divisions including nine Graystone Bank division offices serving six counties and 16 Tower Bank division offices serving three counties. More information about Tower and its divisions can be found at www.yourtowerbank.com, or at www.graystonebank.com and www.towerbancorp.com.