Shares of Green Bay, Wis.-based Associated Banc-Corp gained 3.84% to $25.70 after the company announced that it had closed its acquisition of Milwaukee-based Bank Mutual Corp. The deal was originally announced in July of 2017. It would allow Associated Banc-Corp to find cost saves and improve efficiency.
Elsewhere in the banking industry, shares of Houston-based Green Bancorp Inc. fell 4.82% to $22.70 after the company announced that it had priced 3 million shares in a common stock offering at $23.25 per share. The company said the secondary public offering will not raise any proceeds for the company and is expected to close Feb. 5.
Other notable movers included Boston-based Brookline Bancorp Inc., which saw its stock rise 5.00% to $16.80, and Winter Haven, Fla.-based CenterState Bank Corp., which added 3.85% to $26.99.
The broad markets were relatively quiet in trading Feb. 1, a day after the Federal Reserve announced that it was keeping the benchmark federal funds rate steady at a target range of 1.25% to 1.5%. The market is now looking toward the March Federal Open Market Committee to see whether or not policymakers, to be led by soon-to-be Chair Jerome Powell, are leaning toward a 2018 with three or four rate hikes. The Dow Jones Industrial Average added 0.14% to 26,186.71, the S&P 500 ticked down 0.06% to 2,821.98 and the Nasdaq Composite Index slipped 0.35% to 7,385.86.
JPMorgan Chase & Co. added 1.04% to $116.87, Citigroup Inc. rose 0.92% to $79.20, Bank of America Corp. increased 1.53% to $32.49 and Wells Fargo & Co. declined 0.41% to $65.51.
S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.
Market prices and index values are current as of the time of publication and are subject to change.
