Lewiston-based Northeast Bancorp has been added to the Russell 3000 Index, which includes the 3,000 largest U.S. stocks based on market capitalization as of May 31.

The Russell Index is widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies, Northeast said in a news release. In the U.S. marketplace, roughly $8.4 trillion of equity assets are benchmarked by the Russell 3000.

Northeast will retain its spot in the index at least until index creator FTSE Russell reconstitutes the index in June 2018, the bank said.

As of market close on Monday, Northeast had a market capitalization of $187.9 million. The bank trades on the Nasdaq exchange under the symbol NBN.