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Live blog to highlight MBJ’s coverage of the Mississippi Bankers Association convention in Destin, Florida

May 9th, 2011 Comments off

Mississippi Business Journal banking writer Ted Carter will be reporting live this week from the Mississippi Bankers Association annual convention in Destin, Fla. Look for his reports on the “Business Blog” on this site.
Ted looks forward to personally meeting bankers from across the state and learning about the issues and trends of importance to them. Mississippi’s banks have experienced historic challenges in recent years and must now gear up for meeting significant new challenges that are part of the nation’s financial reform law. Some of the new law’s mandates must be met by mid summer. Ted will be especially interested in reporting on the preparations Mississippi’s banking sector is making to meet the mandates.
He will be interested as well in news about your bank, including new services, new technology, new partnerships, new customer-recruitment or or anything else you think the MBJ’s readers would like to know about your bank.
Ted looks forward to making the acquaintance of the the people who make it possible for Mississippi’s banks to serve their communities.

Hey Trustmark! Not so fast my friend …

October 20th, 2010 Comments off

In a story MBJ banking reporter Ted Carter reported today, Trustmark Bank wasn’t as in the dark about the potential reversal of intentions of Cadence Bank a couple of weeks ago …

According to the proxy statement Cadence Bank filed with the U.S. Securities & Exchange Commission Wednesday, there is a lot more to the story.

Read Ted’s story for more information.

STARKVILLE — A proxy statement Cadence Bank filed with the U.S. Securities & Exchange Commission Wednesday sheds new light on one of the most high-profile reversals of the year – Cadence’s scrapping of a publicly announced “definitive” agreement to be acquired by Trustmark National Bank of Jackson in favor an offer by Houston banking investment group Community Bancorp LLC.
Executives of Starkville-based Cadence say a take-it-or-leave-it deadline set by Trustmark National on an acquisition offer led the bank’s and its board to prematurely reject an offer by rival suitor Community Bancorp Corp.

The proxy statement details the offers and counter offers that led to the jilting of Trustmark and its previously accepted offer of $20.62 per share of Trustmark shares. The transaction was valued at approximately $23.8 million, or $2 per Cadence common share.