Stocks

Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.

The Dutch government sold a third stake in ABN Amro Group NV, taking advantage of a rally in the shares of the nationalized lender.

Atlantic Bay Mortgage Group has agreed to buy a majority stake in Virginia Community Bank in a rare instance of a nondepository mortgage company buying a bank, rather than the reverse.

In an echo of the rescue deals of 2007 and 2008, New Residential's CEO framed the transaction as something undertaken to benefit the entire industry.

Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.

Bankers, directors and other large investors are unloading millions of shares as bank stocks stay close to all-time highs.

Oaktree and Thomas H. Lee will still have large positions in the company after the planned sales.

The French company will still have a majority stake after selling 25 million shares.