The Farmers & Merchants Bancorp, the holding company for Farmers & Merchants State Bank, has been added to an index within the NASDAQ stock exchange.
F&M was added to the American Bankers Association NASDAQ stock index on Friday, Dec. 1.
At that time, there were 341 community banks in the index with $294 billion in market capitalization.
The ABA index operates under the symbol ABAQ.
The symbol for Farmers & Merchants Bancorp is FMAO (“Farmers & Merchants, Archbold Ohio.)
In a press release, F&M officials said the ABAQ “is the most broadly representative stock index for community banks, and remains an important tool for giving banks more visibility with analysts and investors.
“The index includes all banks and savings associations, or their holding companies listed on the NASDAQ, with the exception of any of the 50 largest bank and thrift charters based on asset size, banks classified as having an ‘international specialization,’ and banks classified as having a ‘credit card specialization.’
Paul Siebenmorgen, F&M president and chief executive officer, said, “Inclusion on the ABA NASDAQ Community Bank Index is further testament to the number of milestones we have achieved throughout 2017.
“In May, we began trading on the NASDAQ capital market, we were added to the Russell 3000 index in June, and in September we executed a two-for-one stock split.
“In addition, since March, the F&M Board of Directors has announced two separate increases to our quarterly dividend payment.”
FMAO shares closed at $43.20 on Friday, Dec. 15. The stock price for the day ranged from $38.96 to $43.25. Just over 74,700 shares were traded Friday.