CRANBURY, N.J., June 22, 2018 (GLOBE NEWSWIRE) — 1ST Constitution Bancorp (NASDAQ:FCCY), the holding company (the “Company”) for 1ST Constitution Bank (the “Bank”), announced today that the company was added to the small-cap Russell 2000 Index and the broad US market Russell 3000 Index as part of Russell Investments’ annual reconstitution of its stock indexes, effective with the opening of US markets on Monday, June 25, 2018.
Russell US Indexes are the leading US equity benchmarks for institutional investors. This broad range of US indexes allows investors to track current and historical market performance by specific size, investment style and other market characteristics. The Russell 3000 Index, representing about 98% of the investable US equity market, is comprised of the US large cap Russell 1000 Index (the largest 1,000 US listed stocks by market capitalization) and the US small cap Russell 2000 Index (the next 2,000 largest US listed stocks by market capitalization). The annual reconstitution of the Russell 3000 Index captures the 3000 largest US stocks as of the end of May, ranking them by total market capitalization.
“We are pleased to be joining the nationally recognized Russell 2000 Index. This news reflects our history of sustained growth and continued efforts to increase shareholder value,” said Robert F. Mangano, President and Chief Executive Officer of 1ST Constitution Bank and 1ST Constitution Bancorp. “Additional visibility within the investment community and improved liquidity for shareholders often results from membership in the Russell 2000.”
Russell US Indexes are widely used by investment managers and institutional investors as the basis for index funds 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, a leading global index provider.
For more information on the Russell 2000® Index and the Russell US Indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About 1ST Constitution Bancorp
1ST Constitution Bancorp, through its primary subsidiary, 1ST Constitution Bank, operates 20 branch banking offices in Cranbury (2), Asbury Park, Fair Haven, Fort Lee, Freehold, Hamilton, Hightstown, Hillsborough, Hopewell, Jamesburg, Lawrenceville, Little Silver, Neptune, Perth Amboy, Plainsboro, Princeton, Rocky Hill, Rumson, and Shrewsbury, New Jersey.
1ST Constitution Bancorp is traded on the Nasdaq Global Market under the trading symbol “FCCY” and can be accessed through the Internet at www.1STCONSTITUTION.com
The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies, management’s expectations about new and existing programs and products, relationships, opportunities, taxation, technology and market conditions and statements about the benefits of the merger of New Jersey Community Bank with and into 1ST Constitution Bank (the “Merger”), including future financial and operating results, and the combined entity’s plans, objectives, expectations and intentions. These statements may be identified by such forward-looking terminology as “expect,” “look,” “believe,” “anticipate,” “may,” “will,” or similar statements or variations of such terms. Actual results may differ materially from such forward-looking statements. Factors that may cause results to differ materially from such forward-looking statements include, but are not limited to, changes in the direction of the economy in New Jersey, the direction of interest rates, effective income tax rates, loan prepayment assumptions, continued levels of loan quality and origination volume, continued relationships with major customers including sources for loans, a higher level of net loan charge-offs and delinquencies than anticipated, bank regulatory rules, regulations or policies that restrict or direct certain actions, the adoption, interpretation and implementation of new or pre-existing accounting pronouncements, a change in legal and regulatory barriers, including issues related to compliance with anti-money laundering and bank secrecy act laws, the inability to realize expected cost savings and synergies from the Merger in the amounts or in the timeframe anticipated, and the inability to retain New Jersey Community Bank’s customers and employees, as well as the effects of general economic conditions and legal and regulatory barriers and structure. 1ST Constitution Bancorp assumes no obligation for updating any such forward-looking statements at any time, except as required by law.
|CONTACT:||Robert F. Mangano||Stephen J. Gilhooly|
|President & Chief Executive Officer||Sr. Vice President & Chief Financial Officer|
|(609) 655-4500||(609) 655-4500|