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Tag Archives: loan loss provision

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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Swetman: Peoples' profit 'not at the levels we would wish'

BILOXI — Peoples Financial Corporation, parent of The Peoples Bank, reported net income of $886,000 for the third quarter of 2013, an increase of 18 percent over the same period a year ago. Earnings year to date in 2013 were impacted in the second quarter by a large loan loss provision mostly related to a single, out of area residential ...

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Britton & Koontz restates earnings

NATCHEZ — Britton & Koontz Capital Corporation has re-evaluated its potential exposure with respect to two impaired commercial loans in its Mississippi market and has increased the allowance for loan loss by $1 million.  The company determined that the provision expense necessary to increase the allowance should be charged to the company’s fourth quarter earnings. As a result, the company’s ...

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