Keefe, Bruyette & Woods, Inc., a full service investment bank that
specializes in the financial services sector, and a wholly-owned
subsidiary of KBW, Inc. (NYSE: KBW), today announced upcoming changes to
the KBW Regional Banking Index (Index Symbol: KRXSM,
ETF Symbol: KRESM) and KBW Mortgage Finance
Index (Index Symbol: MFXSM).
Effective prior to the opening of business on Wednesday, May 7, 2008,
KRX and MFX will be rebalanced. The rebalancing was necessitated by
secondary offerings from Colonial Bancgroup Inc.’s
(NYSE: CNB) placement of 43.7 million shares, including 5.7 million
shares of underwriters’ over-allotment option,
for $8 per share and First Horizon National Corp.’s
(NYSE: FHN) placement of 69 million shares, including 9 million shares
of underwriters’ over-allotment option, for
$10 per share. CNB and FHN are members of the KRX while FHN is a member
of the MFX.
As a part of the rebalancing, the KBW Index Committee has increased
shares of CNB and FHN within the KRX and increased shares of FHN within
the MFX.
The KBW family of indices and exchange traded funds include: KBW Bank
Index (Index Symbol: BKXSM, ETF Symbol KBESM);
KBW Capital Markets Index (Index Symbol: KSXSM,
ETF Symbol KCESM); KBW Insurance Index (Index
Symbol: KIXSM, ETF Symbol KIESM);
KBW Regional Banking Index (Index Symbol: KRXSM,
ETF Symbol: KRESM) and KBW Mortgage Finance
Index (Index Symbol: MFXSM).
About KBW
KBW, Inc. is the parent of Keefe, Bruyette & Woods, Inc., Keefe,
Bruyette & Woods Limited and KBW Asset Management. Keefe, Bruyette &
Woods, Inc. is a full service investment bank specializing in the
financial services industry. Founded in 1962, it is widely recognized as
a leading authority in the banking, insurance, brokerage, asset
management, mortgage banking and specialty finance sectors. The firm has
established industry-leading positions in the areas of research,
corporate finance, mergers and acquisitions, as well as sales and
trading for financial services companies.
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