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Banking & Finance

Britton & Koontz records weaker quarter

NATCHEZ — For the three months ended Sept. 30, 2009, Britton & Koontz Capital Corporation saw net income of $325,000, or $0.15 per diluted share, compared to $943,000, or $0.45 per diluted share, for the quarter ended Sept. 30, 2008. For the nine-month period, net income and diluted earnings per share were $1.7 million and $0.79, respectively, compared to $2.6 ...

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State SBA office first in lending

JACKSON — The Mississippi U.S. Small Business Administration (SBA) approved 770 loans for Mississippi small businesses totaling approximately $144.93 million during fiscal year 2009 (Oct. 1, 2008 to Sept. 30, 2009). The Mississippi SBA Office made more loans in FY 2009 than in FY 2007 and 2008 — 623 loans valued at $107.05 million and 479 loans valued at $121.096 ...

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Cadence records a loss

STARKVILLE — Cadence Financial Corporation reported a net loss applicable to common shareholders of $13.1 million, or $1.10 per diluted share, for the third quarter ended Sept. 30, 2009, compared with a net loss of $5.3 million, or $0.44 per diluted share, for the third quarter of 2008. The loss for the 2009 period was due primarily to a high ...

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Peoples Bank changing name

SENATOBIA — First Tennessee Bank, N.A., a subsidiary of First Horizon National Corp., announced that its Senatobia financial center, formerly Peoples Bank, will operate under the name of First Tennessee Bank effective Nov. 1. “Our customers recognize that the First Tennessee name means great things in banking, so we’re going to begin using that strong name to serve customers in ...

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Citizen Holding's income decreases

PHILADELPHIA — Citizen Holding Company’s net income for the three months ended Sept. 30, 2009, decreased to $1.737 million, or $0.36 per share-basic and $0.35 per share-diluted, from $2.104 million, or $0.43 per share-basic and diluted, for the same quarter in 2008. The provision for loan losses for the quarter was $1.124 million, compared to $372,000 for the same period ...

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BancorpSouth's income declines

TUPELO — BancorpSouth’s net income for the third quarter of 2009 was $21.5 million, or $0.26 per diluted share, compared with $28.3 million, or $0.34 per diluted share, for the third quarter of 2008. Annualized net charge-offs of 0.68 percent of average loans and leases and non-performing loans and leases of 1.14 percent of total loans and leases. Aubrey Patterson, ...

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Mills responds to proposed loan boost

WASHINGTON — The U.S. Small Business Administration (SBA) administrator Karen Mills has issued a statement on the proposal announced by President Barack Obama to raise the maximum loan size for SBA-backed loans to small business: Mills’ statement, in p[art, reads: “America’s 29 million small businesses have been hard hit in this recession. Nine months ago, President Obama sent small businesses ...

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Hancock prices stock offering

GULFPORT — Hancock Holding Company’s public offering of 4.3 million shares of its common stock has priced at $35.50 per share for gross proceeds of $152.65 million. The company has granted the underwriters a 30-day option to purchase up to an additional 645,000 shares of common stock to cover over-allotments, if any. Keefe, Bruyette & Woods Inc. and Morgan Stanley ...

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Callon making exchange offer

NATCHEZ – Callon Petroleum Company has commenced an exchange offer for any and all of its outstanding 9.75 percent senior notes due 2010. For each $1,000 principal amount of outstanding senior notes tendered in accordance with the terms and conditions of the exchange offer, each tendering holder of senior notes will receive $750 principal amount of 13 percent senior secured ...

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The First's earnings rise

HATTIESBURG — The First Bancshares Inc., holding company for The First, A National Banking Association, reports net income available to common shareholders for the three months ended Sept. 30, 2009 amounted to $693,000 or $0.23 per diluted share, compared to $335,000 or $0.11 per diluted share for the same quarter in 2008. Hoppy Cole, CEO of The First, said, “We ...

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