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Tag Archives: FDIC

Louisiana officials, FDIC give nod to bank branch in Natchez

NATCHEZ — The Louisiana Office of Financial Institutions and the FDIC have approved an application of Delta Bank of Vidalia, La., to open a full-service branch in Natchez. Bank officials said the move twill position Delta Bank to enhance banking convenience in a region of the state it has long served and understands well. The branch, at 507 John R. ...

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More Mississippi financial institutions stepping into profit column

Mississippi‘s 87 banks and credit unions accounted for $271 million of the $42.2 billion in profits federally insured institutions earned in the second quarter. Magnolia State financial institutions achieved growth in workforce, deposits, loans, assets and equity capital, while lowering their totals in the trouble categories of Real Estate Owned properties and non-current loans and leases from the same quarter ...

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Nation’s banks gain on income in 1Q but loan levels drop

  Commercial banks and savings institutions in the United States are on track to complete three years consecutive quarterly earnings increases, but their lending has dipped for the time in nearly a year. The financial institutions made a total profit of $35.3 billion in the first quarter, a $6.6 billion improvement from the $28.8 billion in net income the industry ...

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BancorpSouth reaches 2-year high on earnings, plans regional restructuring

The year’s first quarter brought BancorpSouth Inc. its best quarterly showing in two years, with the Tupelo-based regional bank reporting net income of $22.9 million, or 25-cents a share. The burden of bad real estate loans also eased during the quarter, according to Aubrey Patterson, chairman and CEO BancorpSouth, a $13 billion banking company with operations in Alabama, Arkansas, Florida, ...

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Trustmark in deal to acquire Panhandle’s Bay Bank

In a move that will return Jackson-based Trustmark Corp. to the scene of some its biggest commercial real estate loan troubles, the regional bank has signed a definitive agreement to acquire Bay Bank & Trust Co. of Panama City in a $22 million transaction. Trustmark CEO Jerry Host said the acquisition of the 76-year-old, $247 million bank gives the bank ...

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First M&F closing 5 branches and selling one more

In closing five branches and selling another, Merchants and Farmers Bank CEO & Chairman Hugh Potts Jr. says the Kosciusko-based First M&F Corp. is adjusting to a banking market in which fewer customers rely on brick and mortar locations. But he insists the move that involves eliminating slightly more than 50 jobs is an adjustment and not a conceding of ...

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First M&F closing 5 branches and selling one more

In closing five branches and selling another, Merchants and Farmers Bank CEO & Chairman Hugh Potts Jr. says the Kosciusko-based First M&F Corp. is adjusting to a banking market in which fewer customers rely on brick and mortar locations. But he insists the move that involves eliminating slightly more than 50 jobs is an adjustment and not a conceding of ...

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Choose your Mississippi jobs forecast – strong and weak growth are options

SANDESTIN, Fla. — Expect Mississippi to show healthy job growth through 2016, IHS Global Insight says in a report cited by an FDIC economic researcher and presented at the Mississippi Bankers Association convention. Gary Beasley, regional manager of the FDIC’s Division of Insurance & Research, said the forecast by the global information company put Mississippi in the second-highest job growth ...

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Renasant enters Atlanta suburbs with purchase of distressed Roswell bank

Tupelo-based Renasant Corp., parent of Renasant Bank, extended its regional reach with completion of a Federal Deposit Insurance Corp.-assisted acquisition of troubled American Trust Bank of Roswell, Ga. American Trust’s three suburban Atlanta locations will reopen Monday as Renasant Bank. The acquisition expands the $4.5 billion Renasant to 14 full-service locations in North Georgia, providing entry into the Roswell market ...

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'Gross Negligence' is test for FDIC civil recoveries

By Ted Carter At a recent press conference, Federal Deposit Insurance Corporation Chairman Sheila Bair drew a distinction between investigations of bank executives and directors her office is doing and the criminal probes launched by the FDIC’s inspector general. She said her agency has approved about 200 civil actions against bank officers and directors aimed at recovering about $2 billion. ...

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