Banker & Tradesman file photo

Eastern Bank has been added to a stock index that tracks the performance of publicly traded regional banks in the U.S.

Eastern Bankshares Inc., the bank’s parent company, will join the KBW Nasdaq Regional Banking Index (Index Ticker: KRX), the bank said in a statement. The addition will be effective before the opening of business on Monday, March 22, and comes as part of the index’s first quarter rebalancing.

Eastern became a publicly traded bank in October 2020.

“We are honored to be added to the KBW Nasdaq Regional Banking Index,” Bob Rivers, Eastern’s CEO and chair, said in a statement. “This step reflects what we believe is another strong milestone following our initial public offering just five months ago, and we look forward to continuing to build awareness about Eastern within the broader investment community.”

The KBW Nasdaq Regional Banking Index is a modified market capitalization weighted index designed to track the performance of U.S. regional banks and thrifts that are publicly traded in the U.S. Nasdaq and Keefe, Bruyette & Woods Inc., a wholly owned subsidiary of Stifel Financial Corp., maintain the index.