As William Roemer recently made one of the biggest deals of his career, Wall Street handed him one of his biggest writedowns.

Mr. Roemer's Integra Financial Corp. announced in July that it would become the fourth-largest bank in Pennsylvania by acquiring Equimark Corp. Shares of the Pittsburgh-based banking company, which had traded as high as $40.25, have fallen since the announcement and were trading Wednesday at a lackluster $34.50.

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