Fidelity D & D Bancorp, Inc. (NASDAQ:FDBC), parent company of The Fidelity Deposit and Discount Bank, is pleased to announce that effective June 26, 2023, the company has been added to the broad-market Russell 3000® Index, as part of the 2023 Russell US Indexes annual reconstitution.
"We are honored and delighted to once again be part of the Russell indexes, which are internationally recognized markers of growth. We believe Fidelity Bank's inclusion in the prestigious Russell 3000® Index demonstrates our commitment and position to delivering long-term growth and maximizing shareholder value," said Daniel J. Santaniello, President and Chief Executive Officer.
Annual Russell 3000® Index reconstitution captures the 3,000 largest US stocks as of April 28, 2023, ranking them by total market capitalization.
Membership in the US all-cap Russell 3000® Index, 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. FTSE Russell determines membership for its Russell indexes primarily by business objective, market-capitalization rankings, and customer delivery and differentiation attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.