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Updated from 2:49 p.m. EDT
The financial sector was slightly lower in choppy trading Thursday, with Franklin Bank (FBTX Quote) coming in as one of the biggest-percentage losers among financial stocks.
The Houston-based savings bank was down 5.5% to $15.70 after offering $100 million in contingent convertible senior bonds under its existing shelf registration. Proceeds will pay for a portion of Franklin's $134 million buyout of Texas-based First National Bank of Bryan, a deal announced in December.
Mortgage insurer MGIC Investment (MTG Quote) traded heavily after first-quarter earnings plummeted from last year and widely missed Wall Street estimates. The Milwaukee-based insurer traded actively, closing down 14 cents at $56.99. ...
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