NewAlliance (NAL) Shares Up on Cramer Push, Strong Financials

NewAlliance Bancshares (NYSE: NAL) shares are trading higher today in the late afternoon session. The stock is up 3.80% to $11.78.

NewAlliance was mentioned by Jim Cramer yesterday, as one of the FDIC's darlings. Cramer spoke with CEO Peyton Patterson, who mentioned that the bank had $400 - $500 million on the books to make acquisitions as they arise. She [Patterson] also noted how the bank worked hard to increase its core revenue stream 13%.

CNBC had a tidbit on the bank, saying that NewAlliance would probably pick up the next failing competitor in a "fire-sale," since the Connecticut-based bank has heavy capital reserves, few nonperforming loans, and a low delinquency rate.

It also doesn't hurt that the conservative bank has topped estimates for the past several quarters.

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