S&P index swaps Flagstar with Bank of the Ozarks

Standard & Poors said Monday that bank holding company Bank of the Ozarks Inc. will replace Flagstar Bancorp Inc. on the S&P SmallCap 600 after the close of trading on May 26.

Flagstar received a capital investment from MattlinPatterson Global Advisors LLC, which S&P said will cause the percentage of its public float available to investors to drop substantially. When completed, this will make the company ineligible for continued inclusion in the index.

Also, Genoptix Inc., which provides specialized laboratory services, will replace Provident Bankshares Corp. in the S&P SmallCap 600. The date for the swap has not yet been finalized. Provident is being acquired by S&P 500 constituent M&T Bank Corp.