NEW YORK ( TheStreet) -- Huntington Bancshares ( HBAN - Get Report) and First Horizon ( FHN - Get Report) provided a tale of two cities on Monday in the financial sector, after both companies reported plans to repay bailout funds but saw their stocks move in different directions.

Huntington shed 2.8% to close at $6.65 as investors worried about a stock-and-bond offering to raise $1.2 billion that was more dilutive than expected. More than three-quarters of Huntington's capital raising effort will come from a $920 million stock offering, with just $300 million in debt. Huntington, which owes $1.4 billion to the federal government, had sunk as low as $6.38 earlier in the day.

>>>Read More: Huntington Bank to Repay TARP

Meanwhile, First Horizon rose 3.7% to $10.92 after it announced plans to sell at least $250 million in stock and $400 million in debt to pay back a $867 million TARP investment by the U.S. Treasury Department. The remaining payement will come from other sources.

Shares of other regional banks that still owe bailout funds were mixed.

Fifth Third ( FITB - Get Report), which owes $3.4 billion to TARP, was down 0.6% at $14.49. KeyCorp ( KEY - Get Report), which owes $2.5 billion, fell 1% to $8.30, although management has indicated that the bank probably won't need to raise that full amount to repay its bailout tab .

SunTrust ( STI - Get Report) fell 1.3% to $27.21 and Zions Bancorp ( ZION - Get Report) was down 2.2% at $22.84, while Marshal & Ilsley ( MI) was up 0.5% at $5.93 and Regions Financial ( RF - Get Report) rose 1.3%to $6.54. Each of those four banks owes the government more than $1 billion.

Among the biggest banks, Bank of America ( BAC - Get Report) had moved the most, falling 2% to $12.54. The firm is reportedly selling $1 billion worth of troubled mortgage assets, though the news wasn't likely the driving force behind the stock. JPMorgan Chase and Citigroup ( C - Get Report) each moved incrementally higher, closing at $41.51 and $4.81, respectively. Wells Fargo ( WFC - Get Report) was incrementally lower, closing at $30.22.

Elsewhere in the financial sector, MasterCard ( MA - Get Report) was among the best performers of the day, gaining 1.8% at $259.35.

-- Written by Lauren Tara LaCapra in New York.

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