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Daily Archives: July 29, 2013

Trustmark wraps up acquisition of Oxford branches from SOUTHBank

JACKSON and OXFORD — Trustmark National Bank, a subsidiary of Trustmark Corporation, has completed its previously announced purchase of two branches in Oxford from SOUTHBank, F.S.B. Gerard R. Host, president and CEO of Trustmark, said, “This transaction enables Trustmark to establish new customer relationships and provides existing Oxford customers with the added convenience of well-positioned banking offices on the Courthouse ...

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Leaders looking for new business at ex-Rentech site to avoid tax hit

NATCHEZ — Economic development leaders in Adams County hope an anticipated loss of $135,000 in property taxes from the former Rentech site will be offset by attracting new industry. The Natchez Democrat reports the county’s acquisition of the property is expected to close Aug. 12. Adams County is borrowing $9 million to buy the former International Paper property from Rentech. ...

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Governors announce partnership to research oil sands

MOBILE — The governors of Mississippi and Alabama said Saturday their two states will partner to study oil sands resources. Oil sands are a sandy mixture found below the surface containing bitumen. After extracting the sand, the bitumen can be transformed into crude oil that can be refined. Gov. Phil Bryant and Alabama Gov. Robert Bentley announced the partnership Saturday ...

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Cal-Maine's bottom line impacted by antitrust settlement

JACKSON — Cal-Maine Foods Inc., for the fourth quarter of fiscal 2013, saw net sales of $325.9 million compared with net sales of $275.2 million for the fourth quarter a year ago. The egg company reported a net loss of $3.8 million, or $0.16 per basic share, for the fourth quarter of fiscal 2013 compared with net earnings of $37.3 ...

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The First accounts for merger, net income down nearly 25 percent

HATTIESBURG — The First Bancshares Inc. reports net income available to common stockholders for the three months ended June 30 amounted to $706,000, or $.18 per diluted share, compared to $931,000, or $.30 per diluted share for the same quarter in 2012, a decrease of $225,000 or 24.2 percent. Net income available to common shareholders exclusive of merger related costs ...

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Ex-mayor's attorney asks for more time in kickback trial

VICKSBURG — A lawyer for former Vicksburg Mayor Paul Winfield has asked a federal judge to postpone his trial because negotiations are ongoing with prosecutors to resolve the case. Winfield is charged in U.S. District Court in Jackson with seeking $10,000 in cash in exchange for a city contract. He has pleaded not guilty. Attorney Terris Harris mentioned the negotiations ...

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Officials hope legislation passes to allow return of Delta Queen

NATCHEZ — The Delta Queen could resume her reign of the Mississippi next summer. The Delta Queen made its final tour of the Mississippi River in 2008 after the federal government ended an exemption to the 1960 Safety of Lives at Sea Act that allowed the wooden vessel to operate. The Natchez Democrat reports a piece of legislation has made ...

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Historic hospital, shuttered for decades, getting renovated

MOUND BAYOU — After 30 years of being boarded up, renovation has begun on the Taborian Hospital in Mound Bayou, one of Mississippi’s oldest hospitals. Contractors have 210 days to complete the work. The Bolivar Commercial reports that the work is funded with a $2.9 million grant from the U.S. Department of Agriculture. The facility will reopen as the Taborian ...

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Schools hit by spiraling insurance premiums, lack of providers

HATTIESBURG — Property insurance premiums have skyrocketed for Pine Belt school districts. Some have had problems just finding a company to insure them. Lamar County School District Superintendent Ben Burnett told the Hattiesburg American that his district’s premium was about $176,000 last year but just increased by $500,000. “I was shocked,” he said. “We always budget for a percentage increase, ...

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Researchers sampling water around blown out Gulf gas well

GULF OF MEXICO — Scientists from several universities are working to learn whether a gas well that blew wild last week off the Louisiana coast is polluting the Gulf of Mexico. Joseph Montoya, a biology professor with Georgia Tech, was performing tests aboard a vessel near the site of the 2010 BP oil spill when the Hercules 265 well blew ...

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