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Tag Archives: banking

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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Mississippi Land Bank receives record distribution

By JULIA MILLER Mississippi Land Bank customers can look forward to receiving a record distribution of $3.5 million after a board of directors vote earlier this year. “We want our borrowers to feel like their part of our family,” Claire Pegram, Chief Financial Officer of Mississippi Land Bank, said. “We want them to have a trusted partner.” Mississippi Land Bank ...

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Trustmark unveils plans for new location in historical Fondren District

MBJ staff Trustmark National Bank plans a branch for the Fondren district of Jackson at the corner of Old Canton Road and Duling Avenue, which is scheduled to open in 2019. Community leaders and business owners, as well as architects, construction managers and Trustmark executives turned the first ceremonial shovels of dirt on Wednesday. “Today’s groundbreaking represents Trustmark’s continued commitment ...

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BREAKING: Dow falls 354 points as interest rates shoot higher

U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher. The Dow Jones industrial average dropped 354 points, with Exxon Mobil sliding 5.7 percent. The S&P 500 fell 1 percent, with energy as the worst-performing sector. The Nasdaq composite declined 1.1 percent as a decline in Apple and Alphabet offset a strong gain in Amazon shares. The U.S. economy added 200,000 ...

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OTC Markets Group welcomes Merchants & Marine Bancorp to OTCQX

OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Merchants & Marine Bancorp, Inc. (OTCQX: MNMB), the holding company of Merchants & Marine Bankwhich has locations in Mississippi and Alabama, has qualified to trade on the OTCQX® Best Market. Merchants & Marine Bancorp was previously privately-held. Merchants & Marine Bancorp began trading on OTCQX on Jan. 19, 2018. The ...

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Keesler Federal opens first branch in Petal

Keesler Federal Credit Union’s new branch in Petal is now open, the first Keesler Federal location in the Petal market. The new 3,200 square foot branch is located at 1119 Evelyn Gandy Parkway, just west of the Walmart Supercenter in front of Lowe’s. It will feature a commercial night depository and drive-through banking service. The Petal branch will be Keesler ...

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First Federal president Stewart Ramsay dies

PASCAGOULA—  First Federal Savings and Loan Association of Pascagoula-Moss Point has announced that Stewart Ramsay, Chairman of the Board and longtime President/Chief Executive Officer, passed away after a lengthy battle with health complications. “Our entire association mourns the loss of Stewart Ramsay,” said Weldon Perkins, President and Chief Executive Officer of First Federal and longtime friend.  “Mr. Ramsay was, and always ...

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