Bank of N.T. Butterfield & Son Ltd.'s stock rose 10.92% to $44.69, as of 11.45 a.m. ET, the morning it announced a deal for Deutsche Bank AG's banking and custody business in the Cayman Islands, Jersey and Guernsey.
It additionally reported fourth-quarter 2017 EPS of 72 cents, compared with the year-ago loss of 19 cents per share.
Acquisition news also sent Puerto Rico's Popular Inc.'s stock up 6.63% to $43.81. It is buying $1.5 billion in retail auto loans and $340 million in commercial loans from Wells Fargo & Co.
Another notable mover was Seacoast Banking Corp. of Florida, up 7.27% to $27.14. Meanwhile, amid news of Bank Secrecy Act and anti-money laundering issues, U.S. Bancorp's stock slid just 0.33% to $55.14. The company is paying $613 million to resolve fines levied by the Federal Reserve Board, Office of the Comptroller of the Currency, the Justice Department and the Financial Crimes Enforcement Network. U.S. Bancorp said there will be no financial impact from the actions, as reserves had been built beforehand.
Around the same time, the SNL U.S. Bank Index was down 0.30% to 644.09 and the SNL U.S. Thrift Index up 0.14% to 948.61.
The broader markets were mixed, with the Dow Jones Industrial Average Index rising 0.16% to 24,934.38, the S&P 500 down by 0.037% to 2,697.64 and the Nasdaq Composite Index rising 0.51% to 7,179.73.
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