HOQUIAM, Wash., July 05, 2017 (GLOBE NEWSWIRE) -- Timberland Bancorp, Inc. (Nasdaq:TSBK) (“Timberland” or the “Company”), the holding company for Timberland Bank (the “Bank”) announced it was added to the Russell 3000® Index and the Russell 2000® Index when Russell investments reconstituted its comprehensive set of U.S. and global equity indexes on June 26, 2017.
“Being added to the Russell indexes is a milestone for Timberland, and we are happy to have earned this distinction,” said Michael Sand, President and CEO of Timberland. “Inclusion in these market benchmarks is expected to raise our profile with institutional investors and support trading of our shares.”
The Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies. In the U.S. marketplace, almost all of the U.S. equity assets are benchmarked by the Russell 3000, representing more than $8.5 trillion. The Company will hold its membership until FTSE Russell reconstitutes its indexes in June 2018. Membership in the Russell indexes remains in place for one year and automatically provides inclusion in the appropriate Russell growth and value style indexes. FTSE Russell determines membership for these indexes primarily by objective, market-capitalization rankings.
The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. The Russell 2000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007. The new membership list for the Russell Indexes is available at https://www.ftserussell.com/index-series/index-resources/russell-reconstitution.
About the Company
Timberland Bancorp, Inc., a Washington corporation, is the holding company for Timberland Bank. The Bank opened for business in 1915 and serves consumers and businesses across Grays Harbor, Thurston, Pierce, King, Kitsap and Lewis counties, Washington with a full range of lending and deposit services through its 22 branches (including its main office in Hoquiam).
About FTSE Russell
FTSE Russell is a global index leader that provides 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 almost all of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $10 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. Russell 1000, Russell 2000 and Russell 3000 are registered trademarks of FTSE Russell.