Friday's Financial Winners & Losers - TheStreet

Friday's Financial Winners & Losers

Oak Hill Financial is rising.
Publish date:

Updated from 12:43 p.m. EDT

Stocks in the financial-services sector were mixed Friday as traders pored over a host of earnings, merger and personnel developments.

Among those with quarterly reports,

City Bank


edged up 0.3% to $31.40 following word that its second-quarter earnings rose to $10.6 million, or 67 cents a share, from $9.2 million and 58 cents a share in the year-ago period.


Oak Hill Financial


gained 1.8% to $22.69 after it said second-quarter earnings climbed to $4.6 million, or 86 cents a share, from last year's $3 million, or 54 cents a share.

This year's results included a $1.6 million gain related to bank-owned life insurance. Excluding the gain, earnings were 55 cents a share.



was also higher, despite its forecast that fiscal third-quarter earnings will likely be below estimates. The company expects earnings to be about even with the 62 cents it earned in the same quarter a year earlier.

Analysts are looking for 67 cents. Still, shares of BankUnited closed up 1.1% at $19.62.

Elsewhere, the board of

Harleysville National


has named Paul D. Geraghty as president and CEO, along with appointing him as a director of the company and its Harleysville National Bank unit. Demetra M. Takes, who served as interim president and CEO, will keep those positions with Harleysville National Bank and Trust.

The stock closed down 1.4% at $15.74.

Fremont General


has named Ronald J. Nicolas Jr. senior vice president, treasurer, chief financial officer and chief accounting officer after Patrick E. Lamb resigned.

On July 9, Lamb said he was leaving Fremont because he took a position with another company. Fremont was lower by 0.2% at $10.48.

H&R Block

(HRB) - Get Report

said the Supreme Court of New York dismissed the company and five of its business units as defendants in a complaint originally brought by former New York Attorney General Eliot Spitzer, but it let stand the portion of the case dealing with another operation, H&R Block Financial Advisors.

Justice Karla Moskowitz did throw out accusations of common law fraud by H&R Block Financial Advisors. The division believes the remaining claims are also without merit and plans to appeal.

The Spitzer complaint, filed in 2006, alleged fraudulent and deceptive marketing of individual retirement accounts. Shares of H&R Block were down 0.2% at $22.38.

A court in the Netherlands has reportedly ruled that

ABN Amro


can sell its U.S.-based LaSalle Bank to

Bank of America

(BAC) - Get Report

without seeking the approval of shareholders. That could make it easier for ABN to merge with


(BCS) - Get Report


Barclays closed up 0.5% at $59.25, and ABN was better by 3.9% at $50.50.

Also in the dealmaking arena,

First Bancorp

(FBNC) - Get Report

dropped after the company set plans to acquire

Great Pee Dee Bancorp



First Bancorp will exchange 1.15 shares for each share of Great Pee Dee. That works out to $21.02 a share and a total transaction value of around $38.2 million. Shares of First Bancorp fell 2.4% to $17.84, and Great Pee Dee jumped 29% to $19.95.

Turning to the sector-tracking indices, the KBW Bank Index was up 0.2% at 115.05, and the NYSE Financial Sector Index ticked up 0.3% to 9809.13.