|By Marketwired .||
|June 20, 2014 12:06 PM EDT||
POMPANO BEACH, FL -- (Marketwired) -- 06/20/14 -- Stonegate Bank (NASDAQ: SGBK), a Florida-chartered commercial bank headquartered in Pompano Beach, Florida, is set to join the broad-market Russell 3000 Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 27, 2014, according to a preliminary list of additions posted June 13, 2014, at http://www.russell.com/indexes/americas/tools-resources/reconstitution/additions-deletions.page#indexes.
Annual reconstitution of Russell's indexes captures the 4,000 largest U.S. stocks as of the last trading day in May, ranking them by 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. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, more than 80 countries and 10,000 securities.
Stonegate Bank is a full-service commercial bank, providing a wide range of business and consumer financial products and services through its 14 banking offices in its target marketplace of South and West Florida, which is comprised primarily of Broward, Charlotte, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach and Sarasota Counties in Florida. Stonegate's principal executive office and mailing address is 400 North Federal Highway, Pompano Beach, Florida 33062 and its telephone number is (954) 315-5500.
Any non-historical statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans and expectations that are subject to uncertainties and risks, which could cause our future results to differ materially. The following factors, among others, could cause our actual results to differ: the strength of the United States economy in general and the strength of the local economies in which we conduct operations;
our inclusion in the Russell 3000 Index upon completion of the annual reconstitutions; changes in the securities and capital markets; and our ability to manage the risks involved in the foregoing. Additional factors can be found in our filings with the FDIC, which are available at the FDIC's internet site (http://www2.fdic.gov/efr/). Forward-looking statements in this press release speak only as of the date of the press release and Stonegate assumes no obligation to update any forward-looking statements or the reasons why actual results could differ.
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