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Tag Archives: finance

Community Bank breaks ground for new Spillway Road office

BRANDON — Community Bank has broken ground for its newest construction project. The site of new full-service bank office is located at 1871 Spillway Road, next door to the Fresh Market Café. Projected completion date is scheduled for summer of 2015. Fountain Construction Inc. based in Jackson, serves as general contractor for the project, and the architect is J Russell ...

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Hancock selling Whitney Bank branches in Houston

GULFPORT — Hancock Holding Co. says it will sell four Whitney Bank branches in Houston to Community Trust Bank of Ruston, Louisiana. Community Trust Bank will acquire $15 million in loans and $135 million in deposits, pending regulatory approval. The sale is expected to close by the end of March. No purchase price was disclosed. Hancock is realigning its Houston ...

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BlueFire looks to China for financing of biofuel plant

FULTON — A California-based biofuel company says the Export Import Bank of China may loan up to $270 million to build a plant in Fulton. BlueFire Renewables Inc. of Irvine, California, says the bank has signed a letter of intent. The U.S. Department of Energy ended funding to BlueFire last year after disbursing $12 million of an $88-million award, saying ...

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Peoples Bank reports quarterly loss due to bad loans

BILOXI — The parent of The Peoples Bank reported a net loss of $1.8 million for the quarter ending Sept. 30. Peoples Financial Corporation CEO Chevis Swetman says the loss stemmed primarily from issues with two loans. Swetman says the bank’s fundamentals remain sound, though it was forced to write down one loan and move a second to nonaccrual status. ...

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Renasant records highest quarterly earnings in 110-year history

TUPELO — Renasant Corporation saw net income for the third quarter of 2014 increase to $15,535,000, or basic and diluted earnings per share (EPS) of $0.49, as compared to $6,637,000, or basic and diluted EPS of $0.24, for the third quarter of 2013. The company’s balance sheet and results of operations as of and for the three months ending Sept. ...

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BancorpSouth's efforts focused on remediating regulatory concerns

TUPELO — BancorpSouth Inc. saw its net income rise more than 15 percent to $28.8 million in the third quarter, as loans and insurance commission revenue increased. The company reports noninterest revenue was $69.3 million, up from $62.5 million for the year-ago period. Insurance commission revenue played a large role, rising from $23.8 million to $29.2 million. In the third ...

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Banks may love debit cards more than you

Like banks across the country, in today’s digital world, State Bank & Trust in Cleveland is getting fewer requests for checks. “We don’t order nearly the checks we used to for people,” said Jerry Bullock, president, State Bank & Trust, Cleveland. “Most would rather use a debit card. Just about everyone uses a debit or credit card.” Some retailers believe ...

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South Mississippi woman pleads guilty to bank, wire fraud

PICAYUNE — A Picayune woman has pleaded guilty in connection with a fraud scheme in New Orleans. U.S. Attorney Kenneth Polite’s office says 50-year-old Kim Parish entered the plea yesterday to charges of bank fraud and wire fraud. Prosecutors said Parish worked as an accountant for a New Orleans information technology services business, which she victimized in two schemes. One ...

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BancorpSouth moves Houston office into Friendswood facility

TUPELO — BancorpSouth Bank has opened a loan production office in the Houston, Texas, suburb city of Friendswood. BancorpSouth initially opened an office in temporary office space just over five months ago in a Southwest Houston location. The office recently moved to its new location at 699 South Friendswood Drive, Suite 107. The move enhances BancorpSouth’s reach to the Pearland, ...

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