Major exchange-traded U.S. bank stocks outpaced a couple of S&P indexes in February even as they posted a more modest return compared to the previous month.

U.S. banks trading on the NYSE, NYSE American and Nasdaq posted a median return of 0.5% in February, compared to 1.1% in January, according to S&P Global Market Intelligence data. The S&P U.S. BMI Banks index posted a negative return of 1.3% in February, while the broader S&P 500 returned a negative 3.0% in the same month.

Top performers

Memphis, Tenn.-based First Horizon Corp., which is being acquired by TD Bank Group for $13.54 billion, posted the highest stock return at 37.2% month-to-date. Philadelphia-based Republic First Bancorp Inc. and Murray, Utah-based FinWise Bancorp. also were among the top performers for the month, with total returns of 20.7% and 20.1%, respectively. FinWise had the highest return in January.

La Jolla, Calif.-based Silvergate Capital Corp., one of the worst performers in January, recovered significantly, ending February with a return of 18.9%, the fifth highest in the group.

Similarly, First Interstate BancSystem Inc. went from posting a negative return in January to becoming a top performer the following month, with a return of 11.7%. First Interstate, headquartered in Billings, Mont., merged with Sioux Falls, S.D.-based Great Western Bancorp Inc. on Feb. 1.

Worst-performing bank stocks

On the other hand, Charlottesville, Va.-based Blue Ridge Bankshares Inc., Seattle-based Sound Financial Bancorp Inc. and Los Angeles-based Broadway Financial Corp. were the three worst-performing bank stocks in February, posting negative returns of 12.0%, 11.8% and 11.6%, respectively.

Citigroup Inc. was also among the worst-performing bank stocks month-to-date, with a negative return of 8.3%.

Los Angeles-based OP Bancorp, a top performer in January, declined in February to a negative 5.9%.