NEW YORK( TheStreet) -- Financial stocks declined after the Irish government took control of Allied Irish Bank (AIB) and on conflicting signals of the U.S. economic recovery.
The Financial Select Sector SPDR (XLF) was down 9 cents at $15.90 at midday.
First Horizon National Corp. (FHN) was the big winner, up 4 cents at $11.79 on news that the bank had repaid Troubled Asset Relief Program.
The shares of the five other banks that recently announced they would repay TARP were mixed. Huntington Bancshares (HBAN) stock was down five cents at $6.79. Susquehanna Bancshares' (SUSQ) stock was down 14 cents at $9.97. Wintrust Financial (WTFC) shares were up 10 cents at $33.69. Heritage Financial Corporation (HFWA) shares were up a penny at $13.69. The Bank of Kentucky Financial Corp's (BKYF) shares slid 8 cents to $19.92.Meanwhile, shares of Hancock Holding Co. (HBHC) slipped 72 cents on concerns that the bank way paying too much in to acquire Whitney Holding (WTNY) in a $8.2 billion deal. Shares of American International Group Inc. (AIG) were down 38 cents at $55.38. The insurer is defending itself against a $1 billion workers' compensation lawsuit filed by Liberty Mutual Holding Co. and other rival insurers, according to Bloomberg. --Written by Maria Woehr in New York.
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