VALDOSTA, Ga., July 10, 2003 (PRIMEZONE) -- PAB Bankshares, Inc. (AMEX:PAB), the holding company for The Park Avenue Bank of Valdosta, Georgia, was added as a member of the Russell 3000(r) Index June 30 when Frank Russell Company reconstituted its family of U.S. indexes. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000(r) Index as well as the appropriate growth and value indexes.
Membership in Russell's 21 U.S. equity indexes is determined by objective rules, such as market capitalization rankings. Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 while the remaining 2,000 companies become the widely used Russell 2000. For more information, go to www.russell.com.
The Company operates 17 banking offices in Georgia and Florida. The Company's common stock is traded on the American Stock Exchange under the symbol "PAB". More information on the Company and the products and services available through its subsidiary bank is available on the Internet at www.pabbankshares.com.