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Midday Wednesday: Markets remain flat

U.S. bank and thrift stocks, as well as the broader markets, were little changed around midday Wednesday, June 7.

The SNL U.S. Bank Index increased 0.77% to 517.78, and the SNL U.S. Thrift Index added 0.51% to 880.02. The Dow Jones Industrial Average was up 0.03% to 21,141.77, the Nasdaq composite index gained 0.26% to 6,291.51, and the S&P 500 increased 0.03% to 2,430.02.

Evansville, Ind.-based Old National Bancorp gained 0.94% to $16.05. Unnamed sources told Bloomberg News that the White House is considering Old National Bancorp Chairman and CEO Robert Jones to be nominated as a Federal Reserve governor.

Glacier Bancorp Inc. increased 1.40% to $33.34. The Kalispell, Mont.-based bank announced late Tuesday, June 6, that it is buying Buena Vista, Colo.-based Columbine Capital Corp. for approximately $73.9 million.

Among the large-cap banks, JPMorgan Chase & Co. added 0.65% to $83.50, Bank of America Corp. advanced 1.14% to $22.48, Wells Fargo & Co. was up 0.39% to $52.01, and Citigroup Inc. increased 1.07% to $61.66.

Other notable movers in the banking scene around midday include Northern Trust Corp., which improved 1.69% to $89.10, and Citizens Financial Group Inc., which rose 1.65% to $34.42.

In the thrift space, BofI Holding Inc. climbed 1.23% to $22.18.

In economic news, mortgage applications increased 7.1% from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending June 2.

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