(Updated with closing prices throughout.)NEW YORK ( TheStreet) -- Financial stocks were mixed Friday, with UBS ( UBS) among the sector's winners after the Swiss bank reached a settlement with the U.S. government. A Justice Department official told a U.S. District Court Judge Friday that UBS and the U.S. and Swiss governments have reached a settlement in their recent tax case. The federal government was suing UBS for the names of some 52,000 U.S. citizens who are alleged to have hidden nearly $15 billion in assets from the Internal Revenue Service. A month earlier, Swiss media outlets Sonntag and NZZ am Sonntag reported that UBS would fork over between 3 billion to 5 billion francs ($2.77 billion to $4.62 billion) to settle the tax dispute. A hearing scheduled for Monday was postponed until Aug. 10, at which point more details are expected to be released, according to The Wall Street Journal. UBS shares jumped 95 cents, or 6.9%, to finish at $14.74, making it one of the best performing financial stocks Friday. Bank of America ( BAC) was also among winning bank stocks Friday on a report it is planning to set up a wholly owned banking unit in China. Citing people familiar with the situation, Reuters reported that BofA will use this China-incorporated unit to focus on corporate lending and investment banking activities. BofA shares climbed 82 cents, or 5.9%, to $14.79. MasterCard ( MA) shares gave up early gains and finished lower even after Credit Suisse upped its price target for the credit card company to $210 from $185. On Thursday, MasterCard beat Wall Street's top- and bottom-line estimates when it reported second-quarter earnings. Shares slipped 8 cents, or 0.1%, to $194.03, having climbed 3% Thursday.