Trading in the stock of American Savings of Florida F.S.B. resumed Friday, one day after it was suspended because of the company's merger discussions.
American Savings, with $3.2 billion of assets, said it asked Nasdaq to halt trading in its stock Thursday after the price had climbed to $19.50 a share, $1.75 above Wednesday's close, on "an inordinate increase in volume" of 2.7 million shares. American Savings has 11 million shares outstanding, but only 51% of that is held by the public.
On Friday, when trading resumed, the stock began climbing again, closing at $21.50 a share, within striking distance of twice the thrift's tangible book value of $12.27 a share.
"It looks like a deal is going to happen," said Deborah R. Beylus, an analyst with JW Charles/CSG in Boca Raton.
American Savings, which has 29 branches in Dude, Broward, and Palm Beach counties, had previously …