U.S. bank stocks closed up slightly Tuesday, Aug. 1, as a few small banks announced deals.
The SNL U.S. Bank Index climbed 0.87% to 557.44 and the SNL U.S. Thrift Index added 0.40% to 913.50. The Dow Jones Industrial Average closed up 0.33% to 21,963.92, the S&P 500 improved 0.24% to 2,476.35, and the Nasdaq Composite Index ticked up 0.23% to 6,362.94.
After announcing that it will acquire Napa, Calif.-based Bank of Napa NA for $51.0 million, Novato, Calif.-based Bank of Marin Bancorp lost 1.35% to $65.75.
In Maryland, Waldorf-based Community Financial Corp. is buying La Plata-based County First Bank for approximately $34.3 million. Community Financial slid 0.03% to $37.10.
In North Carolina, Wilson-based CB Financial Corp. fell 36.57% to 22 cents. The company plans to merge into Rocky Mount, N.C.-based Providence Bank's to-be-formed holding company, PB Financial Corp., in a deal valued at $11.2 million.
After the bell, Dallas-based Veritex Holdings Inc. announced that it is buying Fort Worth, Texas-based Liberty Bancshares Inc. and unit Liberty Bank. Veritex will issue 1,450,000 common shares and pay approximately $25 million in cash to Liberty shareholders. Veritex stock inched up 0.45% to $26.77.
The nation's largest banks closed higher. JPMorgan Chase & Co. improved 1.34% to $93.03, Bank of America Corp. climbed 1.37% to $24.45, Wells Fargo & Co. increased 0.26% to $54.08, and Citigroup Inc. added 1.68% to $69.60.
Among notable price movers, Riverview Bancorp Inc. rose 5.67% to $8.02 and Hilltop Holdings Inc. gained 4.08% to $26.05.
Astoria Financial Corp. rose 0.20% to $20.22, and BofI Holding Inc. climbed 1.33% to $28.24.
Market prices and index values are current as of the time of publication and are subject to change.