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Midday Monday: Investar Holding retreats by over 1% after deal announcement

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

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Midday Monday: Investar Holding retreats by over 1% after deal announcement

Investar Holding Corp. lost 1.37% to $22.34 around midday Monday, Aug. 7, after announcing its pending acquisition of BOJ Bancshares Inc. and unit Highlands Bank. The cash-and-stock deal was valued at approximately $22.1 million.

In general, U.S. bank and thrift stocks were also down. The SNL U.S. Bank Index slid 0.27% to 556.39, while the SNL U.S. Thrift Index fell 0.54% to 896.78.

In the broader markets, the Dow Jones Industrial Average slipped 0.01% to 22,090.92, the Nasdaq Composite Index gained 0.34% to 6,373.07, and the S&P 500 added 0.02% to 2,477.24.

Among the nation's largest banks, JPMorgan Chase & Co. was up 0.17% to $93.82, Bank of America Corp. dropped 0.20% to $24.92, while Wells Fargo & Co. retreated 0.35% to $52.65 and Citigroup Inc. slid 0.06% to $68.94.

In other news, Sugar Creek Financial Corp. completed the stock repurchase program of $1 million of its common shares. Around noon, Sugar Creek Financial was flat at $13.07.

Meanwhile, Capital One Financial Corp. gained 0.55% to $84.88. The company's personal finance app, Level Money, is shutting down on Sept. 1.

In the thrift space, Astoria Financial Corp. lost 1.29% to $19.84 and BofI Holding Inc. dropped 0.44% to $27.09.

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