Alliance Bank ( ALLB) was higher a day after it said it would form a stock holding company and sell additional shares.

The boards of the bank and its majority shareholder, Greater Delaware Valley Holdings, a mutual holding company, are proposing a reorganization plan. As part of the plan, Greater Delaware will convert to a federal charter and change its name to Alliance Mutual Holding. Shares of Alliance Bank were gaining $2.75, or 11.3%, to $27.

Colony Bankcorp ( CBAN) was climbing after getting an upgrade from a Wall Street analyst. Keefe Bruyette lifted its rating on the bank to outperform from market perform. Shares of Colony were gaining 79 cents, or 4.6%, to $18.06.

First Marblehead ( FMD), an educational-loan servicing firm, saw its shares fall after UBS initiated coverage of the company with a reduce rating. Shares of First Marblehead were losing $1.72, or 3.7%, to $44.95.

UBS raised its opinion of National Financial Partners ( NFP), giving the financial-services firm a buy rating, up from its old neutral rating. Shares of National Financial were gaining 9 cents, or 0.2%, to $44.47.

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