Medford’s Century Bancorp Inc., parent company of Century Bank, is set to join the broad-market Russell 3000 Index.
Russell Investments will add Century Bancorp after it reconstitutes its set of U.S. and global equity indexes on June 26, according to a preliminary list of additions recently posted to the firm’s Web site.
The Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes, the company said.
"We’re proud that our 40 years of achievement have been recognized by our inclusion in the Russell indexes," said Barry R. Sloane, co-president and co-CEO of Century Bank. "Since my Dad founded Century in 1969, we have strived to reward our shareholders’ confidence every day."
