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Banking & Finance

Hancock at tops of rankings

     Financial institution again ranked among nation’s best banks    The second quarter of 2009 was a painful one for the state’s banks. Special FDIC insurance assessments and a spike in net charge-offs of bad loans gave earnings a one-two punch. Hancock Holding Company, parent of Hancock Bank, certainly was not immune. Net income during the second quarter was down ...

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CMI continues upward trend

COLUMBIA, Md. — For the sixth straight month, the Credit Managers’ Index (CMI) indicates that there is growth in the availability of capital. The July index stood at 48. Over the last two months, the dominant economic debate has focused on whether the recession has already ended, is ending now or is in the process of ending. The data coming ...

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Trustmark impacted by charge-offs

JACKSON — Trustmark Corporation reports net income available to common shareholders of $13.4 million in the second quarter of 2009, which represented basic earnings per common share of $0.23. Earnings during the quarter were impacted by a previously announced special FDIC deposit insurance assessment applicable to all insured depository institutions, which reduced Trustmark’s net income by $2.7 million, or $0.05 ...

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Lexaria issuing additional shares

Lexaria Corp. announces that its July 10 financing was oversubscribed. The company will issue an additional 800,000 shares to have a total of 10,562,370 issued and outstanding, and has received cash proceeds of an additional $40,000. All shares issued in relation to the recent financings are restricted under various securities regulations. If all existing stock options and warrants were to ...

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Citizens' income decreases

PHILADELPHIA — Citizens Holding Company saw net income for the three months ended June 30, 2009, decrease to $1.84 million, or $0.38 per share-basic and $0.37 per share-diluted, from $2.475 million, or $0.51 per share-basic and diluted for the same quarter in 2008. The provision for loan losses for the quarter was $824,000, compared to $559,000 for the same period ...

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Britton & Koontz's earnings fall

NATCHEZ — Britton & Koontz Capital Corporation reports net income for the three months ended June 30, 2009, was $758,000, or $0.36 per diluted share, compared to $848,000, or $0.40 per diluted share, for the quarter ended June 30, 2008. For the six-month period ended June 30, 2009, net income and diluted earnings per share were $1.4 million and $0.64, ...

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SBA bond guarantees enhanced

WASHINGTON — Building on American Recovery and Reinvestment Act provisions implemented earlier this year, the U.S. Small Business Administration (SBA) announced it can now provide surety bond guarantees on federal contracts valued at up to $10 million, if the contracting officer certifies that the guarantee is in the best interests of the government. An interim final rule is available for ...

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Cadence posts quarterly loss

STARKVILLE — Cadence Financial Corporation reported a net loss applicable to common shareholders of $14.7 million, or $1.23 per diluted share, for the second quarter ended June 30, 2009, compared with net income of $1.9 million, or $0.16 per diluted share,  for the second quarter of 2008. Cadence said the loss for the 2009 period was due primarily to a ...

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BancorpSouth's earnings dip

TUPELO — During the second quarter of 2009, BancorpSouth Inc. recorded net income of $33.9 million, or $0.41 per diluted share, compared to $40.1 million, or $0.49 per diluted share, for the second quarter of 2008. The financial institution also reported growth of net loans and leases by 3 percent from the second quarter of 2008, non-performing loans of 1.00 ...

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