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Banking & Finance

Trustmark repurchases shares from Treasury

JACKSON — Trustmark Corporation has completed the repurchase of its 215,000 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A, from the U. S. Treasury Department at a purchase price of $215 million plus a final accrued dividend of $716.7 thousand. The preferred stock and a warrant to purchase 1,647,931 shares of common stock were issued to the Treasury ...

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Trustmark wraps up public offering

JACKSON — Trustmark Corporation has closed on its previously announced public offering of 6,216,216 shares of its common stock, including 810,810 shares issued pursuant to the exercise of the underwriters’ over-allotment option, at a price of $18.50 per share. Trustmark received net proceeds of approximately $109.3 million after deducting underwriting discounts, commissions and estimated offering expenses. Richard G. Hickson, Chairman ...

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Credit card delinquency rate to fall

Chicago-based TransUnion has released its annual credit forecasts, which indicate national mortgage loan delinquencies (the ratio of borrowers 60 or more days past due) will drop nearly 3 percent by the end of 2010 to 6.39 percent from an expected 6.56 percent at the conclusion of 2009. The projected decrease in mortgage delinquencies would end a trend that included unprecedented ...

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Toyota denies Blue Springs reports

The Nikkei, the Japanese version of the Wall Street Journal, is reporting that Toyota plans to resume construction of the plant in Blue Springs, with the hopes of opening it in the spring of 2011. The plant will initially produce the compact Corolla cars, and start producing the hybrid Prius later. Details are here. Magnolia Marketplace is burning up the phone ...

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Trustmark prices public offering

JACKSON — Trustmark Corporation has priced its public offering of 5,405,406 shares of common stock at $18.50 per share. Trustmark has also granted the underwriters a 30-day over-allotment option to purchase up to 810,810 additional shares of common stock. The offering will generate gross proceeds to the company of $100 million, without giving effect to the potential exercise of the ...

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Senators want country's aid stopped

WASHINGTON — Sen. Thad Cochran (R-Miss.) and Sen. Roger Wicker (R-Miss.) have joined in introducing a Senate resolution aimed at preventing the government of Antigua and Barbuda from receiving financial aid if it continues to hinder efforts to recover billions lost in the Stanford Financial Group fraud scandal. Despite the country’s continued refusal to cooperate in the Stanford investigation, the ...

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CMI continues to climb

COLUMBIA, Md. — Black Thursday has come and gone and the results are mixed. On the one hand there was much more traffic in the stores than last year, but the average consumer has been spending a bit less and more cautiously. The same pattern seems to have emerged in the business community, as indicated by the shifts in the ...

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State tops in auto loan delinquencies

During the third quarter, Mississippi had the highest auto loan delinquency rate in the nation, according to TransUnion.com’s analysis of trends in the auto lending industry. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data. Information for this analysis is culled quarterly from approximately 27 million ...

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Trustmark to offer common stock

JACKSON — Trustmark Corporation is making an underwritten public offering of approximately $100 million of its common stock. In connection with the offering, the underwriters will have a 30-day option to purchase up to an additional $15 million of common stock to cover over-allotments, if any. Upon completion of this offering, Trustmark intends to notify the U.S. Treasury of its ...

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Callon wraps up note exchange

NATCHEZ — Callon Petroleum Company has completed and released the results of its offer to exchange any and all of its outstanding 9.75 percent senior notes due 2010. The exchange offer, which was originally scheduled to expire Nov. 18 but was extended to allow time to complete qualification under the Trust Indenture Act, expired Nov. 23. The settlement date of ...

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