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Article: A Choppy Market for Banks.(Alliance Financial Corp. and Hancock Holding Co.)
- Article from:
- American Banker
- Article date:
- November 9, 2009
- Author:
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Byline: Bonnie McGeer
The capital markets continue to be choppy for community banking companies, as illustrated by a pair of announcements Friday.
Both Alliance Financial Corp. in Syracuse, N.Y., and Hancock Holding Co. in Gulfport, Miss., had launched offensive stock offerings in recent weeks, but reported starkly different outcomes Friday.
The $1.5 billion-asset Alliance called off its offering because of poor pricing, and the $6.8 billion-asset Hancock touted its pricing as being among the best for any banking company this year.
Jack H. Webb, Alliance's president and chief executive officer, said in a press release that its $25 ...