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Tag Archives: banking

Change is theme of 130th Mississippi Bankers Association Convention

By BECKY GILLETTE A lot has changed in the banking world since the Mississippi Bankers Association (MBA) held its first convention 130 years ago. The theme of the recent 130th annual convention of the MBA held at Sandestin Resort in Destin, Fla., May 9 to May 12 was “Changes in Latitude, Changes in Attitude” reflecting the many significant changes and ...

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Feds and Mississippi fight over who should clean up fraud

The U.S. Securities and Exchange Commission and Mississippi’s secretary of state are fighting over who should collect assets and repay victims of a $100 million-plus fraud. Arthur Lamar Adams pleaded guilty last week to one count of wire fraud. Authorities say the 58-year-old Jackson resident persuaded investors to loan him money, promising interest rates of 12 percent to 15 percent ...

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Cadence Bank, State Bank Financial Corp. announce merger

Cadence Bank and State Bank Financial Corp. are announcing a merger. Al.com reports that Cadence Bank’s corporate headquarters will move from Birmingham, Alabama, to Atlanta following the merger. The combined company will have about 100 branches serving Texas, Georgia, Florida, Alabama, Tennessee and Mississippi. The deal is expected to be finalized later this year. Al.com reports that Cadence Bank CEO Sam Tortorici ...

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Credit union and loan fund win financial inclusion award

A Mississippi-based credit union and associated loan fund have been named the winner of The Wall Street Journal’s financial inclusion challenge. Hope Enterprise Corp. and Hope Credit Union announced the win last week. Hope operates in Mississippi, Alabama, Arkansas, Louisiana and Tennessee. It was recognized for providing financial services in small towns in the Mississippi Delta that traditional banks have ...

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PONZI POINTS: Notable from the charging document

Allegations from the criminal information filing against Arthur Lamar Adams: » Adams ran the Ponzi scheme from early 2011 through April of this year, prosecutors say. » Adams kept the scheme going by paying earlier investors with money collected from new investors, prosecutors say. “Adams lulled and persuaded investors to maintain their investments and to invest additional funds by timely paying ...

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Hancock Bank and Whitney Bank are now Hancock Whitney Bank

  By BECKY GILLETTE GULFPORT — When Hancock Bank and Whitney Bank merged in 2011, they kept their respective names due to each being so large and well known in their respective markets for nearly 100 years. But now the banks are merging in name, as well.  The banks will be renamed Hancock Whitney Bank on May 25. The bank ...

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Waycaster a steady hand leading Renasant

TUPELO – For the first time since the turn of the millennium, Renasant Corp. will have a new chief executive. On Tuesday, Mitch Waycaster steps into the role of chairman and CEO of the the financial holding company that is the parent of Renasant Bank. Robin McGraw, who announced a year ago that he would retire from those positions he’s ...

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BancorpSouth to pay $146 million to acquire Texas bank

 BancorpSouth announced Thursday that it will pay $146 million in stock and cash to buy a Texas bank. Tupelo-based bank would buy Icon Capital Corp, whose Icon Bank has seven offices and $794 million in assets in the Houston area.BancorpSouth will pay stock valued at $128.3 million, plus $17.5 million in cash. The move will more than double BancorpSouth’s presence ...

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BancorpSouth reports record earnings of $53.5M

TUPELO – BancorpSouth on Wednesday reported record earnings for the first quarter, with $53.5 million, or 54 cents per share. That compares to $38.1 million, or 41 cents per share, a year earlier. The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share. BancorpSouth posted ...

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Tertiary commercial markets like Jackson now more attractive to investors

By BECKY GILLETTE Historically tertiary commercial real estate markets like Jackson have lagged behind larger markets across the nation. But capitalization (CAP) rates have been compressing over the past two years in the larger markets, said James O. Turner II, MAI, managing director of business development, Integra Realty Resources for Ridgeland, a commercial appraisal firm. “The tertiary markets are now ...

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