The American Bankers Association has added three banks to the ABA NASDAQ Community Bank Index (ABAQ), effective June 1.

The new additions are HomeStreet Inc. (HMST), of Seattle; Wellesley Bancorp Inc. (WEBK), of Wellesley, Mass.; and Bank of the James Financial Group Inc. (BOTJ), of Lynchburg, Va.

Additionally, People's United Financial Inc. (PBCT) no longer qualifies under the criteria for inclusion in the ABA NASDAQ Community Bank Index, as it is now one of the 50 largest banking charters.

The index includes more than 400 community banks with a market capitalization of more than $125 billion. Launched in December 2003, the ABAQ is a broadly representative stock index for community banks and is touted to be an important tool for giving banks more visibility with analysts and investors.

The index includes all banks and savings associations or their holding companies listed on the NASDAQ, with the exception of any of the 50 largest bank and thrift charters based on asset size, banks classified as having an "international specialization," and banks classified as having a "credit card specialization." Asset size and business classifications are based on the most recently available FDIC data.