Hampton Roads Bankshares to be Added to Russell 2000(R) Index
June 28 2013 - 4:01PM
Hampton Roads Bankshares, Inc. (Nasdaq:HMPR
) (the
"Company"), the holding company for The Bank of Hampton Roads
("BHR") and Shore Bank, announced today that Russell Investments
("Russell") has added the Company to the Russell 2000® Index
effective July 1, 2013 as a result of Russell's annual
reconstitution of its comprehensive set of U.S. and global equity
indexes on June 28, 2013.
Douglas J. Glenn, President and Chief Executive Officer of the
Company and Chief Executive Officer of BHR, said, "We are pleased
to join the Russell 2000® Index. We believe that our inclusion will
increase our exposure to investors and the financial community,
allowing us to broaden our shareholder base."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for both
passive and active investment strategies. $4.1 trillion in assets
are currently benchmarked to these indexes.
The Russell 2000® Index measures the performance of the
small-cap segment of the U.S. equity universe. The Russell 2000 is
a subset of the Russell 3000® Index representing approximately 10%
of the total market capitalization of that index. It includes
approximately 2000 of the smallest securities based on a
combination of their market capitalization and current index
membership.
Caution About Forward-Looking Statements
Certain statements made in this press release may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of
1995. Forward-looking statements are statements that
include projections, predictions, expectations, or beliefs about
events or results or otherwise are not statements of historical
facts, including prospective statements about the Company's
exposure to investors and the financial community, and the
broadening of its shareholder base. Although the Company
believes that its expectations with respect to such forward-looking
statements are based upon reasonable assumptions within the bounds
of its existing knowledge of its business and operations, there can
be no assurance that actual results, performance or achievements of
the Company will not differ materially from those expressed or
implied by such forward-looking statements. Factors that
could cause actual events or results to differ significantly from
those described in the forward-looking statements include, but are
not limited to those described in the cautionary language included
under the headings "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in the
Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2012, Quarterly Report on Form 10-Q for the quarter
ended March 31, 2013, and other filings made with the SEC.
About Hampton Roads Bankshares
Hampton Roads Bankshares, Inc. is a bank holding company
headquartered in Virginia Beach, Virginia. The Company's
primary subsidiaries are The Bank of Hampton Roads, which opened
for business in 1987, and Shore Bank, which opened in 1961
(collectively, the "Banks"). The Banks engage in general
community and commercial banking business, targeting the needs of
individuals and small to medium-sized
businesses. Currently, The Bank of Hampton Roads
operates 33 banking offices in Virginia and North Carolina doing
business as Bank of Hampton Roads and Gateway Bank & Trust
Co. Shore Bank serves the Eastern Shore of Maryland and
Virginia through seven banking offices, ATMs and two loan
production offices in West Ocean City, Maryland and Rehoboth Beach,
Delaware. Through various affiliates, the Banks also offer mortgage
banking services and investment products. Shares of the
Company's common stock are traded on the NASDAQ Global Select
Market under the symbol "HMPR." Additional information about
the Company and its subsidiaries can be found at
www.hamptonroadsbanksharesinc.com.
CONTACT: Douglas J. Glenn
President and Chief Executive Officer
(757) 217-1000
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