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Midday Tuesday: Old National Bancorp up following deal announcement

Old National Bancorp rose 2.43% to $16.83 around midday Tuesday, Aug. 8. The company is buying Anchor Bancorp Inc. and unit Anchor Bank NA in a cash-and-stock deal valued at around $303.2 million.

The Dow Jones Industrial Average inched higher 0.17% to 22,155.31, the S&P 500 added 0.18% to 2,485.45 and the Nasdaq Composite Index gained 0.23% to 6,398.73. The SNL U.S. Bank Index improved 0.97% to 561.97, while the SNL U.S. Thrift Index climbed 0.95% to 904.39.

Among the nation's largest banks, Wells Fargo & Co. increased 1.05% to $53.09. The Federal Reserve Bank of San Francisco is investigating the company over issues related to its guaranteed auto protection insurance, which may have affected tens of thousands of customers.

Citigroup Inc. climbed 0.80% to $69.58. Reuters reported the company agreed to settle for $130 million a U.S. lawsuit alleging it of manipulating the London Interbank Offered Rate, or LIBOR.

JPMorgan Chase & Co. rose 0.94% to $94.90 and Bank of America Corp. improved 1.32% to $25.29.

Among notable price movers, Sterling Bancorp was up 1.99% to $23.05.

In the thrift space, Astoria Financial Corp. increased 1.66% to $20.04 and BofI Holding Inc. added 1.17% to $27.69.

Market prices and index values are current as of the time of publication and are subject to change.