NEW YORK (
) -- On a day of pullbacks for most bank stocks,
was the loser among large financials, with shares declining 2.5% to $23.30, as they continued to pull back after
Following last week's enthusiasm, the broad indexes declined slightly Monday as investors fretted over the prolonged
negotiations in Washington, although
by the U.S. Treasury after the deadline passes on August 2 appear to be greatly exaggerated.
KBW Bank Index
declined 1% to 47.57, with 19 of the 24 index components down for the session.
Bank of America
saw shares decline over 1%, as
, as the nation's largest bank continued wading through the mortgage mess.
Other large banks seeing shares decline over 1% Monday included
, which closed at $48.88;
First Niagara Financial Group
, closing at $12.77;
New York Community Bancorp
, at $14.22; and
, which closed at $6.02.
Monday's sector winner was
Fifth Third Bancorp
, with shares rising 1.5% to $13.00.
Written by Philip van Doorn in Jupiter, Fla.
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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.