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FHN

Financial Sector Update for 10/05/2015: FHN, NYRT

Top Financial Shares:

JPM: +0.61%

BAC: +0.52%

WFC: flat

C: +0.66%

USB: flat

Financial shares were higher before Monday's opening bell.

In financial stocks news, First Horizon National ( FHN ), a bank holding company, said Monday that it has completed its acquisition of TrustAtlantic Bank and its parent company, TrustAtlantic Financial Corp.

Terms of the transaction were not disclosed. TrustAtlantic's systems and branches will be converted as First Tennessee. As of June 30, the Raleigh North Carolina-based bank had approximately $430 million in assets, $368 million in deposits and $317 million in gross loans.

And, New York REIT ( NYRT ), a REIT focused on commercial properties, has closed on a $325 million financing for 1440 Broadway, the 25-story office building it is acquiring near Times Square.

The REIT said the move is a part of its initiative to "enhance value for all shareholders and narrow the gap between net asset value and the company's current common share price."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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