Howard Bancorp, Inc., the parent company of Howard Bank, a locally owned community bank serving businesses, professionals and individuals in the Greater Baltimore area, has been named to the Russell 2000 stock index. The listing on the closely watched Russell 2000, which measures the performance of 2,000 small-cap companies in the United States, recognizes the growth in Howard Bancorp’s market capitalization – total shares outstanding multiplied by its current stock price – which climbed to nearly $185 million on May 31, 2017, up 75% percent since the beginning of the year, and its stock price has risen 25 percent over the same period.
“The listing on the Russell 2000 index reflects the increased value of the market capital levels we have attained in support of our consistently executed regional growth strategy to be the go-to commercial bank in greater Baltimore,” says Mary Ann Scully, President and CEO of Howard Bancorp. “But even more important than what it reflects about our history and positive market reception is the value it provides to shareholders of our currency. Additional visibility, access and liquidity often accompany inclusion in the Russell 2000.