Financial stocks were mixed Tuesday as the overall market sold off and traders made their way through another round of earnings from the bank sector.

The KBW Bank index was up 0.2%. However, the Amex Securities Broker/Dealer index was down 2.4%, and the NYSE Financial Sector index was lower by 3.4%.

U.S. Bancorp

(USB) - Get Report

was one of the decliners after it fell short of analysts' third-quarter targets. An increased loan-loss provision and losses tied to securities hit its earnings. Shares lost 2%.

Regions Financial

(RF) - Get Report

had a different result, climbing more than 5% after the bank said the federal government approved its plan to seek an equity investment.


Ambac Financial


said David Wallis would become the bond insurer's president and CEO. Wallace replaces Michael Callen, who was named interim president and CEO in January. Shares of Ambac were down 12%.

Among large-cap banks,


(C) - Get Report


Bank of America

(BAC) - Get Report

declined, while

Wells Fargo

(WFC) - Get Report


Goldman Sachs

(GS) - Get Report


Morgan Stanley

(MS) - Get Report

were little changed.

This article was written by a staff member of