The boards of the bank and its majority shareholder, Greater Delaware Valley Holdings, a mutual holding company, are proposing a reorganization plan. As part of the plan, Greater Delaware will convert to a federal charter and change its name to Alliance Mutual Holding. Shares of Alliance Bank were gaining $2.75, or 11.3%, to $27.
Colony Bankcorp (CBAN - Get Report) was climbing after getting an upgrade from a Wall Street analyst. Keefe Bruyette lifted its rating on the bank to outperform from market perform. Shares of Colony were gaining 79 cents, or 4.6%, to $18.06.
First Marblehead (FMD), an educational-loan servicing firm, saw its shares fall after UBS initiated coverage of the company with a reduce rating. Shares of First Marblehead were losing $1.72, or 3.7%, to $44.95.UBS raised its opinion of National Financial Partners (NFP - Get Report), giving the financial-services firm a buy rating, up from its old neutral rating. Shares of National Financial were gaining 9 cents, or 0.2%, to $44.47.