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Monday's Bank Stocks: Energy companies tug stocks lower

Broader markets fell in-line behind a pullback in energy stockson Monday, July 25, as investors seized on a chance for profit-taking.

The SNL U.S. Bank Index slid 0.35% to 399.63 while the SNL U.S.Thrift Index increased 0.46% to 803.09.

The Dow Jones Industrial Average dropped 0.42% to 18,493.06,the S&P 500 declined 0.30% to 2,168.48 and the Nasdaq composite index shrank0.05% to 5,097.63.

Energy companies led the market's decline, as investors tookprofits following a week of strong performance helped by better-than-expected quarterlyearnings reports, said Peter Jankovskis, co-chief investment officer of OakBrookInvestments LLC.

"We've certainly had a very strong run this month becauseof optimism about the state of the economy and stocks in general, so it's not surprisingto see it pull back here, particularly with energy shares being off," he said.

He said most industry observers do not expect the Federal OpenMarket Committee to raise interest rates during their July meeting, which beginson July 26, but added that several media reports have suggested they may considerraising interest rates in September.

JPMorgan Chase &Co. lost 0.27% to $63.87,CitigroupInc. fell 0.59% to $44.04, Bankof America Corp. contracted 0.07% to $14.37, and Wells Fargo & Co. slid 0.41% to $48.12.

Jacksonville, Fla.-based EverBankFinancial Corp rocketed 13.29% to $17.56 following that the bank is exploring a sale.

Irvine, Calif.-based OpusBank dove 12.09% to $32.13 afterreporting second-quarternet income of $16.1 million, or 46 cents per share, compared to S&P CapitalIQ consensus mean estimate for normalized EPS of 63 cents for the period.

Matthew Clark, a Piper Jaffray analyst, wrote in a note followingearnings that the company missed the consensus mainly because of the $10.9 millionprovision for loan losses recorded during the second quarter and said the creditdeterioration and decision to de-emphasize tech banking was "disappointing."

Moultrie, Ga.-based AmerisBancorp increased 2.07% to $32.59; Irvine, Calif.-based jumped 5.18% to$21.91; and Lafayette, La.-based MidSouthBancorp Inc. grew 3.80% to $10.93. San Rafael, Calif.-based fell 2.61% to$46.73, TCF Financial Corp.declined 1.47% to $13.45 and F.N.B.Corp. lost 1.32% to $11.97.

In the thrift space, Sioux Falls, S.D.-based soared 3.90% to$54.84, and Defiance, Ohio-based FirstDefiance Financial Corp. expanded 2.58% to $43.00. declined 0.73% to$14.89.

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