GULFPORT and NEW ORLEANS — At separate but concurrent special meetings, Hancock Holding Company shareholders and Whitney Holding Corporation shareholders voted in favor of the proposed merger of the two companies. This approval by both companies’ shareholders marks another milestone necessary for Whitney to merge with and into Hancock. Hancock and Whitney expect to close [...] [...]
WASHINGTON — U.S. Sen. Roger Wicker (R-Miss.) has sent a letter to Securities and Exchange Commission (SEC) chairman Mary Schapiro outlining Wicker’s concerns with the SEC’s review of the Stanford ponzi scheme. Wicker was joined by 52 other Senate and House members. “Many of the victims of Allen Stanford’s fraud lost most if not all [...] [...]
GULFPORT — Hancock Holding Co. is offering about $200 million of its common stock shares. Gulfport, Miss.-based Hancock said today that it would use proceeds for general corporate purposes. Those include boosting its capital and buying preferred shares of Whitney Holding Corp. Hancock has a $1.5-billion stock deal pending to acquire New Orleans-based Whitney. As [...] [...]
VICKSBURG — Ameristar Casinos Inc. is buying back approximately 26.2 million shares of its common stock from the estate of founder and former chairman and CEO Craig H. Neilsen for about $457.6 million. Neilsen died in Nov. 2006. The casino operator said that the stock included in the buyback represents about 45 percent of its [...] [...]
NATCHEZ — Callon Petroleum Company announced the closing of the sale of 1.1 million shares of its common stock pursuant to the underwriters’ exercise of the over-allotment option, which the company granted in connection with Callon’s previously announced public offering of nine million shares of its common stock. The exercise of the over-allotment option brings [...] [...]
NATCHEZ — Callon Petroleum Company has closed its previously announced public offering of nine million shares of its common stock at a price to the public of $7.75 per share. Callon also granted the underwriters a 30-day option to purchase up to an additional 1.35 million common shares on the same terms and conditions to [...] [...]
TUPELO — A balance sheet that a significant decline in provision for credit losses helped Tupelo-based regional bank BancorpSouth achieve fourth quarter net income of $15.8 million, or $0.19 per diluted share. This marked the second consecutive quarter of earnings improvement over the prior quarter as well as the bank’s best quarterly earnings performance for [...] [...]
LONDON (AP) — European stocks markets were dragged lower today by an expected retreat on Wall Street, at the start of a major week on the economic news front that may go a long way to determining investors’ views about the world economy going into the last quarter of the year. In Europe, the FTSE [...] [...]
WASHINGTON — Banks will have to share in the risk when they sell investments of the kind that rocked the financial system in 2008 under rules adopted Monday. The Federal Deposit Insurance Corp. is requiring banks hold at least 5 percent of the securities on their books, as part of new rules the regulator adopted [...] [...]
NEW YORK — Stock futures rose sharply today as investors gained confidence in the banking sector following the passage of new global regulations and China’s economy continued its robust growth. Global regulators agreed to reforms that could help avert another credit crisis that plagued financial markets worldwide in 2008. Banks will gradually have to increase [...] [...]
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