Greene County Bancshares Added to the Russell 2000 and Microcap Indices
June 27 2005 - 10:00AM
Business Wire
Greene County Bancshares, Inc. (NASDAQ/NM:GCBS) today announced
that it has been added to the Russell 2000(R) Index as part of the
annual reconstitution of that index, which took effect at the
market's close on Friday, June 24, 2005. The Company also will be
included in the new Russell Microcap(TM) Index. "We are very
pleased that Greene County Bancshares has been selected to be part
of the debut of the Russell Microcap(TM) Index and to join the
Russell 2000(R) and Russell 3000(R) indices," said Stan Puckett,
Chairman and Chief Executive Officer. "Given the reliance that
investors of all sizes place on the Russell family of equity
indices, both directly and indirectly through benchmarking, we
believe our company's inclusion in these three prominent listings
will help raise our visibility among retail and institutional
investors and provide us with the opportunity to expand our
shareholder base. Considering the growth we have experienced in
recent years and our recent expansion initiatives in Middle and
East Tennessee, inclusion in these Russell products signifies
another milestone for Greene County Bancshares as we work to expand
the reach of our bank across our strategic market region." Produced
by the Frank Russell Company, the Russell 2000(R) index is a subset
of the Russell 3000(R), which measures the performance of the 3000
largest U.S.-based companies ranked by market capitalization. The
Russell 2000(R) is an index of the 2000 smallest companies in the
Russell 3000(R) list. The Russell Microcap(TM) Index, comprising
the smallest 1,000 securities in the small-cap Russell 2000
Index(R) plus the next 1,000 smaller securities, measures the
performance of the micro cap segment, which represents less than 3%
of the U.S. equity market. On July 1, 2005, the Frank Russell
Company will publish the final listing of companies constituting
its newly rebalanced membership lists for these indices. Greene
County Bancshares, Inc., with total assets of approximately $1.3
billion, is the holding company for Greene County Bank,
headquartered in Greeneville, Tennessee. Greene County Bank,
founded in 1890, now has 41 branches throughout East and Middle
Tennessee, one branch in Bristol, Virginia, one branch in western
North Carolina, and a trust services office in Lebanon, Tennessee.
Greene County Bank does business in Washington County, Tennessee as
Washington County Bank; in Blount County and Knox County, Tennessee
as American Fidelity Bank; in Sumner County, Tennessee as First
Independent Bank; in Rutherford County, Tennessee as Rutherford
Bank and Trust; in Sullivan County, Tennessee as Sullivan County
Bank and First Bristol Bank; in Hamblen County, Tennessee as
Hamblen County Bank; in McMinn County, Tennessee as Bank of Athens
and Bank of Niota; in Hawkins County, Tennessee as Hawkins County
Bank and Bank of Bulls Gap; in Lawrence County, Tennessee as Bank
of Lawrence County; in Cocke County, Tennessee as Cocke County
Bank; in Loudon County, Tennessee as Community Bank of Loudon
County; in Monroe County, Tennessee as Community Trust Bank; in the
City of Bristol, Virginia as First Bristol Bank; in Davidson County
and Williamson County, Tennessee as Middle Tennessee Bank &
Trust; and in Wilson County, Tennessee as President's Trust. In
addition, Greene County Bank also conducts separate businesses
through three wholly owned subsidiaries: Superior Financial
Services, Inc., a consumer finance company; GCB Acceptance
Corporation, a consumer finance company specializing in subprime
automobile lending; and Fairway Title Co., a title insurance
company. This news release may contain forward-looking statements
regarding Greene County Bancshares, Inc., as defined in Section 21E
of the Securities Exchange Act of 1934. All forward-looking
statements involve risk and uncertainty and actual results could
differ materially from the anticipated results or other
expectations expressed in the forward-looking statements. A
discussion of factors that could cause actual results to differ
materially from those expressed in the forward-looking statements
is included in the Greene County Bancshares, Inc. filings with the
Securities and Exchange Commission.
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