S&P Announces Changes to U.S. Index: OZRK for FBC, GXDX for PBKS
Bank of the Ozarks Inc. (NASDAQ: OZRK) will replace Flagstar Bancorp Inc. (NYSE: FBC) in the S&P SmallCap 600 after the close of trading on Tuesday, May 26. Flagstar received a capital investment from MattlinPatterson Global Advisors LLC, which, when fully completed, will result in a substantial reduction in the percentage of its public float available to investors, rendering it ineligible for continued inclusion in the index.
Genoptix Inc. (NASDAQ: GXDX) will replace Provident Bankshares Corp. (NASDAQ: PBKS) in the S&P SmallCap 600 after the close of trading on a date to be announced. Provident is being acquired by S&P 500 constituent M&T Bank Corp. (NYSE: MTB) in a deal pending final approvals.
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