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Banking & Finance

Louisiana bank failure is costliest since financial crisis

Regulators on Friday seized New Orleans-based First NBC Bank in the costliest bank failure since the financial crisis, with cleanup costs estimated at $1 billion . The Louisiana Office of Financial Institutions handed the bank to the Federal Deposit Insurance Corp. in the fourth failure of a federally insured bank this year. Hancock Holding Co. of Gulfport, Mississippi, bought $1.6 billion in ...

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Trustmark net income up for first quarter

  MBJ staff Trustmark Corp.’s net income for the first quarter was $31.2 million, or 46 cents per share, compared with $27 million, or 43 cents per share, a year earlier, the Jackson-based bank holding company reports. The earnings report does not reflect the acquisition of Athens, Ala.-based Reliance for $23.7 million in cash, a deal that was finalized April ...

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Temple, Winstead promoted

Noel Temple and Allison Winstead have been promoted at Peoples Bank in Magee. Temple has been named Loan Operations Officer and Winstead has been promoted to Collections Officer. Temple has been in banking for 28 years, the last 14 with Peoples Bank. She is a graduate of Raleigh High School and studied Data Processing at East Central Community College. She ...

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Dickson to chair bank group

Dave Dickson, a native of Crystal Springs, was recently installed as the 2017-18 Chairman of the Arkansas Bankers Association. Dickson is President and CEO of Union Bank & Trust Company in Monticello, Ark. He is also a member of Union Bank’s and First Union Financial Corporation’s Board of Directors.  Dickson is holds a bachelor’s degree in Banking and Finance from ...

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Trustmark announces retirement of George C. Gunn and appointment of Monica A. Day as executive vice president and real estate banking manager

Trustmark National Bank, a subsidiary of Trustmark Corporation (NASDAQ: TRMK), announced that George C. Gunn will retire as Executive Vice President and Real Estate Banking Manager of Trustmark National Bank effective April 30, 2017. “George has provided invaluable leadership to Trustmark over the last 34 years, and we appreciate his significant contributions in expanding our real estate lending program across ...

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Stocks tick higher, S&P 500 flirts with record

Stock indexes ticked higher on Wednesday, and the Standard & Poor’s 500 index flirted with its record high, as the White House unveiled a broad outline of its plan to cut tax rates. The market has sprinted higher since November, due in large part to expectations that lower taxes and looser regulations for businesses are on the way. White House ...

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Healthy profits push stocks higher yet; Nasdaq crosses 6,000

Profits are climbing for companies, and so are their stock prices. More big businesses joined the earnings parade Tuesday, saying their profits were even larger in the first three months of the year than analysts were expecting, including Caterpillar and McDonald’s. The encouraging reports pushed U.S. indexes to their second straight day of big gains, placing them either close to ...

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US stocks follow global markets higher after French election

U.S. stocks joined a worldwide rally Monday morning after election results in France over the weekend raised expectations that the European Union and euro currency will remain intact. A candidate seen as pro-business won the most votes in Sunday’s vote, and many investors expect him to win a runoff election against the remaining anti-EU candidate, which is set for May ...

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Spreading fake news can result in fraud charges, SEC says

By BECKY GILLETTE On April 10 the Securities Exchange Commission  issued warnings for investors to be aware of fake news designed to drive up a company’s stock price. “When you read an article on an investment research website, be aware that the article may not be objective and independent,” the SEC said in an alert to investors. “For example, the ...

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State bankers say Trump effect is positive

By CALLIE DANIELS BRYANT Some Mississippi bankers are confident the Trump administration will have a much-needed impact on public banks.  Several have already witnessed a rise in stocks since election day. “The effect (of the new presidential administration) has been extremely positive,” said Hoppy Cole, president and CEO of The First, a national banking association. “We are a publicly-traded company, ...

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