County Bancorp, Inc. Added to Russell 2000 and Russell 3000 Indexes

Rhea-AI Summary

County Bancorp, Inc. (NASDAQ: ICBK) announced its inclusion in the Russell 2000 and Russell 3000 Indexes, effective June 29, 2020. This addition is expected to enhance stock liquidity and broaden investor exposure. CEO Tim Schneider highlighted the significance of this milestone for the company's strategic goals and community service. The Russell Indexes are utilized by institutional investors for passive funds, overseeing $9 trillion in assets, linking County Bancorp to a broader investment audience.

Positive

• Inclusion in Russell 2000 and 3000 Indexes enhances liquidity for ICBK stock.
• Increased visibility among institutional investors as these indexes are benchmarked by $9 trillion in assets.

Negative

• None.

MANITOWOC, Wis., June 29, 2020 (GLOBE NEWSWIRE) -- County Bancorp, Inc. (NASDAQ: ICBK), the parent company for Investors Community Bank (collectively “the Company”), today announced it has been added as a member of the broad-market Russell 2000 Index and Russell 3000 Index, effective after the US market opens on June 29^th, as part of the 2020 Russell US Indexes reconstitution.  

“We are proud to rejoin the Russell 2000 and Russell 3000 indexes,” said Tim Schneider, CEO of Investors Community Bank. “This membership is an important milestone for County Bancorp as we continue to execute against our strategic priorities and serve our customers and communities. We believe our inclusion will positively impact the liquidity in our stock and create an opportunity to increase our exposure and share our compelling story with a broader investment audience.”

The Russell US Indexes are widely used by investment managers and institutional investors for passive funds and investment products and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell’s suite of index offerings.

About County Bancorp, Inc.
County Bancorp, Inc., a Wisconsin corporation and registered bank holding company founded in May 1996, and our wholly-owned subsidiary Investors Community Bank, a Wisconsin-chartered bank, are headquartered in Manitowoc, Wisconsin.  The state of Wisconsin is often referred to as “America’s Dairyland,” and one of the niches we have developed is providing financial services to agricultural businesses statewide, with a primary focus on dairy-related lending.  We also serve business and retail customers throughout Wisconsin, with a focus on northeastern and central Wisconsin.  Our customers are served from our full-service locations in Manitowoc, Appleton, Green Bay, and Stevens Point and our loan production offices in Darlington, Eau Claire, Fond du Lac and Sheboygan. Visit our Investor Relations site for details: Investors.ICBK.com.

About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com

Investor Relations Contact
Glen L. Stiteley
EVP - CFO, Investors Community Bank
Phone: (920) 686-5658
Email: gstiteley@icbk.com

FAQ

What does the inclusion of ICBK in the Russell Indexes mean for investors?

The inclusion of ICBK in the Russell 2000 and 3000 Indexes is expected to enhance stock liquidity and broaden exposure to institutional investors.

When did ICBK join the Russell 2000 and 3000 Indexes?

ICBK was added to the Russell 2000 and 3000 Indexes effective June 29, 2020.

How does being added to the Russell Indexes affect ICBK stock?

Being added to the Russell Indexes may lead to increased trading volume and interest from institutional investors, potentially impacting stock performance positively.