Posts Tagged ‘financial institution’

Louisiana officials, FDIC give nod to bank branch in Natchez

NATCHEZ — The Louisiana Office of Financial Institutions and the FDIC have approved an application of Delta Bank of Vidalia, La., to open a full-service branch in Natchez. Bank officials said the move twill position Delta Bank to enhance banking convenience in a region of the state it has long served and understands well. The […] [...]

Federal Reserve gives nod to Regions’ capital plan

BIRMINGHAM, Ala. — The Federal Reserve has indicated to Regions Financial Corporation that it does not object to the company’s capital plan and proposed capital actions covering the period from April 1, 2014, to March 31, 2015. The capital plan was submitted to the Federal Reserve on Jan. 6, as part of the Comprehensive Capital […] [...]

Farmer-owned coop pays patronage for 19th year in a row

RIDGELAND — First South Farm Credit member-borrowers will receive approximately $13 million in patronage refund checks in April. Patronage, which is a form of dividend payment, is based on the association’s year-end earnings. Shep Morris, chairman of the First South board of directors, said, “This is the 19th consecutive year we’ve paid a patronage refund. […] [...]

Attorney pleads guilty to defrauding two banks, court

BILOXI — A Coast attorney has pleaded guilty covering up evidence connected to a scheme to defraud two banks and the U.S. Bankruptcy Court. The government says in a news release that it is seeking restitution on behalf of the victims in the amount of $7.7 million. Stephen Richard Colson entered the plea in U.S. […] [...]

Deadline nears for disaster loans for victims of freeze

SOUTH MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that April 14 is the filing deadline for federal economic injury disaster loans available in George, Greene, Jackson and Wayne counties in Mississippi as a result of […] [...]

The First acquiring Alabama bank in cash/stock deal

HATTIESBURG — First Bancshares is expanding further into Alabama, announcing yesterday that it will buy BCB Holding Co. of Mobile, Ala., for about $6.6 million in cash and stock. BCB is the parent company of Bay Bank, which has $80 million in assets. Hattiesburg-based First Bancshares, the parent company of The First, says it expects […] [...]

Southern AgCredit sets another patronage payment record

RIDGELAND — Southern AgCredit, a rural lending cooperative, recently returned a record level of net earnings to its customer-owners in Mississippi and Louisiana. This marks the 18th consecutive year of the co-op’s patronage program. Southern AgCredit customers received a check for their portion of the $7.2 million cash patronage, plus a statement detailing their share […] [...]

Louisiana bank eyeing expansion into Mississippi

NATCHEZ — Vidalia, La.-based Delta Bank has filed applications to the Louisiana Office of Financial Institutions and FDIC to open a full-service branch in Natchez. The branch is expected to open in the next three months pending regulatory approvals and will offer a full line of financial products and services. The branch will be located […] [...]

Wholesale bank reports record earnings — again

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale bank that provides funding for rural retail lenders, has released preliminary unaudited financial highlights and results for the year ended Dec. 31, 2013, reporting record earnings for the eighth consecutive year. The Austin-based bank reported $179.8 million in net income in 2013, a 3.0 […] [...]

Bank cooperative sees record earnings — again

AUSTIN, Texas — Farm Credit Bank of Texas (FCBT), a cooperatively owned wholesale bank that provides funding for rural retail lenders, has released preliminary unaudited financial highlights and results for the year ended Dec. 31, 2013, reporting record earnings for the eighth consecutive year. The Austin-based bank reported $179.8 million in net income in 2013, a 3.0 […] [...]

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