Home » NEWS » Banking & Finance » Bauer rankings reflect strong Q3 showing for Mississippi banks

Bauer rankings reflect strong Q3 showing for Mississippi banks

A total of 45 Mississippi banks and saving and loans garnered five-star ratings from Bauer Financial Services in the third quarter.

stars picOf Mississippi’s largest banks, the $20 billion Hancock Bank of Gulfport was the only one to receive five stars, though Jackson’s Trustmark and Tupelo’s Renasant performed well enough to gain four stars each. BancorpSouth, the state’s second largest bank behind Hancock at $12.9 billion, received three-and-a-half stars from the Coral Gables, Fla., ratings agency.

Birmingham’s $6.2 billion Cadence Bank, formerly headquartered in Starkville, won five stars in the Q3 ratings. Regions, another Birmingham bank with a significant presence in Mississippi, earned three-and-a-half stars.

Five stars denote an “Excellent” rating and four stars a “Superior” rating. Both ratings land an institution on Bauer’s recommended report.

Three-and-a-half-stars, a designation reserved for banks only, denote “Good” and three stars “Adequate.”

Only Mississippi bank – Omni Bank of Bay Springs – fell into the two-star “Problematic” ranking. Huntsville, Ala.’s South Bank, which has several Mississippi locations, also received two stars.

Mississippi had no one-star banks.

The large number of star rankings reflects a strong third quarter for Mississippi’s banks and savings & loans. Last week, the FDIC reported that all of the state’s 86 FDIC-insured institutions turned a profit in the quarter. As recently as the third quarter of 2011, 8.9 percent of Mississippi’s FDIC-insured institutions lost money.

 

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Ted Carter

Leave a Reply

Your email address will not be published. Required fields are marked *

*