Friday's Financial Winners & Losers

Updated from 1:41 p.m. EDT

Financial stocks mostly trended higher Friday, performing about as well as the climbing major indices, and among the biggest winners was TierOne (TONE Quote).

The Nebraska-based bank surged 26% to $31.40 after CapitalSource (CSE Quote) agreed to buy it for about $34.46 a share in cash and stock. The deal, valued at some $652 million, should close in the fourth quarter. CapitalSource shed 2.4% to $25.23.

PMI Group (PMI Quote), a California-based insurer, lifted 0.9% to $50 after Chief Executive L. Stephen Smith was elected chairman of the board. He replaces Roger Haughton, who had stayed on board since resigning his CEO position in June 2006.

Among other climbing financial stocks today, insurer Scottish Re (SCT Quote) gained 4.3% to $5.07 after saying the CEO of its North American segment, Clifford Wagner, will step down later this year. Charles Schwab (SCHW Quote) jumped 6.3% to $20.97 in unusually active trading, and fellow broker Jeffries (JEF Quote) added 1.1% to $30.58.

Crystal River Capital (CRZ Quote) was among few financial losers today, giving up 2.2% to $27.10 after RBC Capital Markets cut the New York mortgage investor to sector perform from outperform.

Lender First Charter (FCTR Quote) lost 3.3% to $20.44 on word its chief financial officer, Charles Caswell, will resign effective Aug. 17; and Evercore Partners (EVR Quote) priced its previously announced 4.2-million-share secondary offering at $29.50 a share. Its stock dipped 2.6% to $29.55.

Other sliding financial names today included Universal Insurance Holdings (UVE Quote), down 6.5% to $6.19; asset manager Fortress Investment Group (FIG Quote), off 3.7% to $28.01; and insurer W.R. Berkley (BER Quote), slipping 1.4% to $32.32.

More broadly, however, the NYSE Financial Sector Index climbed 35.63 points, or 0.4%, to 9,878.94. The KBW Bank Index tacked on 0.3% at 118.06.