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Tag Archives: financial institution

BancorpSouth posts healthier quarterly profit

TUPELO — Regional bank BancorpSouth Corp. saw profit rise for the third quarter in a row, jumping 37 percent in 2014’s first quarter from the same three months in 2013. BancorpSouth posted quarterly profit yesterday of $28.4 million, or 30 cents per share. That’s up from $20.8 million or 22 cents per share in 2013’s first quarter. Analysts polled by ...

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BancorpSouth buying Louisiana-based insurance firm

TUPELO — BancorpSouth Insurance Services Inc., a subsidiary of BancorpSouth Bank, has, signed a definitive agreement to acquire the assets of Lafayette, La.-based Knox Insurance Group, LLC. The transaction is expected to close immediately.  Financial terms of the pending transaction were not disclosed. “The Knox acquisition gives us an opportunity to meaningfully expand our market share in Southwest Louisiana,” said ...

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The First opening loan office in Baton Rouge

HATTIESBURG — The First Bancshares Inc., holding company for The First, A National Banking Association, is opening of a new loan production office in Baton Rouge, La. M. Ray “Hoppy” Cole, president and CEO of First Bancshares and The First, said, “We are excited to gain a larger presence in Louisiana with the entry into Baton Rouge and the addition ...

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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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Federal Reserve gives nod to Regions' capital plan

BIRMINGHAM, Ala. — The Federal Reserve has indicated to Regions Financial Corporation that it does not object to the company’s capital plan and proposed capital actions covering the period from April 1, 2014, to March 31, 2015. The capital plan was submitted to the Federal Reserve on Jan. 6, as part of the Comprehensive Capital Analysis and Review (CCAR). Actions ...

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End of an era — Patterson retiring from BancorpSouth board

One of Mississippi’s iconic bankers is finally calling it quits after more than 40 years of service. Aubrey Patterson, chairman of the board of directors of BancorpSouth Inc. will retire upon the expiration of his current term. Patterson will serve as a chairman emeritus following the expiration of his term. Patterson served BancorpSouth as president and COO from 1983 to ...

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Farmer-owned coop pays patronage for 19th year in a row

RIDGELAND — First South Farm Credit member-borrowers will receive approximately $13 million in patronage refund checks in April. Patronage, which is a form of dividend payment, is based on the association’s year-end earnings. Shep Morris, chairman of the First South board of directors, said, “This is the 19th consecutive year we’ve paid a patronage refund. Over that period of time ...

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Attorney pleads guilty to defrauding two banks, court

BILOXI — A Coast attorney has pleaded guilty covering up evidence connected to a scheme to defraud two banks and the U.S. Bankruptcy Court. The government says in a news release that it is seeking restitution on behalf of the victims in the amount of $7.7 million. Stephen Richard Colson entered the plea in U.S. District Court in Gulfport. His ...

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Deadline nears for disaster loans for victims of freeze

SOUTH MISSISSIPPI — The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that April 14 is the filing deadline for federal economic injury disaster loans available in George, Greene, Jackson and Wayne counties in Mississippi as a result of the frost and freezing temperatures ...

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The First acquiring Alabama bank in cash/stock deal

HATTIESBURG — First Bancshares is expanding further into Alabama, announcing yesterday that it will buy BCB Holding Co. of Mobile, Ala., for about $6.6 million in cash and stock. BCB is the parent company of Bay Bank, which has $80 million in assets. Hattiesburg-based First Bancshares, the parent company of The First, says it expects to complete the acquisition before ...

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