Greene County Bancshares (NASDAQ:GCBS)
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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.