New York-based Astoria Financial Corp. and New York Community Bancorp Inc. were trading down around midday on Dec. 20, following the mutual termination of their merger.
Astoria Financial declined 1.66% to $17.78 and New York Community Bancorp fell 2.40% to $16.89.
The declines weighed on the SNL Thrift Index, which was down 0.55% to 968.96. More broadly, bank stocks and the broader markets were trading higher around noon. The SNL U.S. Bank Index added 1.12% to 538.31. The Dow Jones Industrial Average increased 0.33% to 19,949.00, the S&P 500 gained 0.23% to 2,267.67 and the Nasdaq composite index increased 0.31% to 5,474.32.
In other M&A news, Louisville, Ky.-based FCB Bancorp Inc. saw its stock jump 86.32% to $35.40. The company is being acquired by Greensburg, Ind.-based MainSource Financial Group Inc. in a $56.9 million cash-and-stock transaction. MainSource Financial's stock increased 1.93% around midday.
The nation's biggest banks were also in positive territory. JPMorgan Chase & Co. was up 0.29%, Bank of America Corp. rose 0.73%, Wells Fargo & Co. climbed 1.63%, and Citigroup Inc. added 0.76%.
Among other price leaders, First BanCorp. increased 3.05% to $6.75, Regions Financial Corp. advanced 2.26% to $14.60, and KeyCorp added 1.62% to $18.47.
Market prices and index values are current as of the time of publication and are subject to change.