Shares in fintech SoFi Technologies rise with approval of Sacramento bank purchase

With a conditional approval of its deal to buy Sacramento-based Golden Pacific Bancorp Inc., shares in digital banking company $SoFi Technologies(SOFI.US)$ rose sharply Wednesday.

The Office of the Comptroller of the Currency announced its conditional approval of SoFi’s acquisition of Golden Pacific after stock markets closed Tuesday. Following the announcement, shares in $SoFi Technologies(SOFI.US)$ popped up 13.7% in trading Wednesday to close at $13.71, up $1.65. And that was on a day when the Dow Jones Industrial Average was down 1%.