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Midday Monday: First NBC Bank Holding rises ahead of possible Nasdaq hearing

Bank and thrift stocks were in negative territory, alongwith the major indexes, around midday Monday, Oct. 3.

The SNL U.S. Bank Index slid 0.36% to 412.21, and the SNLU.S. Thrift Index fell 0.64% to 821.84. The Dow Jones Industrial Average wasdown 0.36% to 18,241.96, the S&P 500 slipped 0.40% to 2,159.69 and theNasdaq composite index retreated 0.25% to 5,298.83.

New Orleans-based First NBC Bank Holding Co. requested a before the NasdaqListing Qualifications Panel by Oct. 5. The company's common stock is subjectto suspension on Oct. 7 and delisting from the Nasdaq Global Select Marketbecause of past-due SEC reports. The company's stock rose 3.97% to $9.81 inmorning trading.

Scandal-stricken Wells Fargo & Co. was down 1.02% to $43.82.

On the M&A front, Capital One Financial Corp. is Cabela's credit cardoperations, including $5.2 billion in credit card receivables and other assetsand $5 billion in associated funding liabilities. The company's stock gained1.11% to $72.63 around noon.

FirstCommonwealth Financial Corp. dropped 2.38% to $9.85 in morningtrading amid news that it will acquire Lewis Center, Ohio-based in a cash-and-stock dealvalued at approximately $14.50 per share, or approximately $106 million.

Meta FinancialGroup Inc. and unit MetaBank agreed to acquire the assets and certain liabilities of Easton,Pa.-based EPS Financial LLC, a subsidiary of Drake Enterprises Ltd. Thecompany's shares were up 1.96% to $61.80 following the news.

Among notable movers, Lewiston, Maine-based dropped 3.28% to$11.20 and Richmond, Va.-based Xenith Bankshares Inc. fell 2.60% to $2.25.

In the thrift space, Westbury, N.Y.-based retreated0.32% to $14.19; San Diego-based BofI Holding Inc. fell 3.08% to $21.71; and LakeSuccess, N.Y.-based AstoriaFinancial Corp. ticked down 0.41% to $14.54.

Market prices andindex values are current as of the time of publication and are subject tochange.