There are several possibilities but it certainly didn't hurt for the bank to be recently listed on the Russell 2000.
Hampton Roads Bankshares to be Added to Russell 2000(R) Index
Hampton Roads Bankshares, Inc. (Nasdaq:HMPR) (the "Company"), the holding company for The Bank of Hampton Roads ("BHR") and Shore Bank, announced today that Russell Investments ("Russell") has added the Company to the Russell 2000® Index effective July 1, 2013 as a result of Russell's annual reconstitution of its comprehensive set of U.S. and global equity indexes on June 28, 2013.
Douglas J. Glenn, President and Chief Executive Officer of the Company and Chief Executive Officer of BHR, said, "We are pleased to join the Russell 2000® Index. We believe that our inclusion will increase our exposure to investors and the financial community, allowing us to broaden our shareholder base."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. $4.1 trillion in assets are currently benchmarked to these indexes.
The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000 is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market capitalization and current index membership.
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