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Tag Archives: merger

BancorpSouth net income for third quarter up

  By Jack Weatherly BancorpSouth Inc. reported net income of $37.8 million, or 40 cents per share for the third quarter, compared with net income of $34.3 million, or 36 cents per share a year earlier. Net operating income was $36.7 million, or 39 cents a share, one cent lower than the consensus reported by Zacks. Net operating income for ...

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BancorpSouth extends till end of ’17 effort to buy two banks

  By JACK WEATHERLY BancorpSouth Inc. has reached an agreement to extend to Dec. 31, 2017 an attempt buy two banks, which has been delayed by federal regulatory intervention. The Tupelo-based banking chain announced Friday the third extension of the merger effort that began in January 2014. “We continue to believe these proposed transactions are in the best interest of ...

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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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C Spire completes acquisition of MegaGate Broadband

RIDGELAND — C Spire says it has completed the acquisition of MegaGate Broadband, a regional provider of phone and Internet services to businesses. Terms were not disclosed. Based in Hattiesburg, MegaGate, founded in 1990, serves most Mississippi business markets as a competitive local exchange telecommunications provider and as an Internet service provider. As part of the merger announced in June, ...

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C Spire completes acquisition of MegaGate Broadband

RIDGELAND — C Spire announced today that it has completed the acquisition of MegaGate Broadband, a regional provider of phone and Internet services to businesses. Based in Hattiesburg, Mississippi, MegaGate, founded in 1990, serves most Mississippi business markets as a competitive local exchange telecommunications provider and as an Internet service provider. As part of the merger announced in June, MegaGate customers ...

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Canadian company purchasing Southern Lumber for nearly $50M

HERMANVILLE — A Canadian company is buying a sawmill in southwest Mississippi for $48.7 million. Canfor Corp. of Vancouver, British Columbia, said yesterday that it would buy Southern Lumber Co. of Hermanville from the Dearman and Sulser families. Southern Lumber makes pine boards, specializing in wide and long lumber, with a yearly capacity of 90 million board feet. Canfor said ...

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Fitch Ratings gives Trustmark a 'stable' outlook

JACKSON — Fitch Ratings has affirmed Trustmark Corp.’s (TRMK) ratings at “BBB+”/”F2”. The rating outlook remains “stable”. Fitch wrote: “TRMK’s ‘BBB+’ ratings reflect its good asset quality and the leading market share in TRMK’s home state of Mississippi and growing market share in other parts of the southeastern U.S. Furthermore, Fitch positively views the company’s risk appetite measured by relatively ...

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Severstal completes the sale of Columbus plant to Steel Dynamics

COLUMBUS — Russian steel company Severstal has completed its sale of a pair of steel plants to AK Steel and Steel Dynamics. In a statement from Severstal’s press office, CEO Alexey Mordashov confirmed yesterday the sale of Severstal Columbus, LLC, which is located in northeast Mississippi, to Steel Dynamics Inc. and Severstal Dearborn, LLC to AK Steel. Severstal, one of ...

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Dollar General's attempt to buy Family Dollar goes hostile

GOODLETTSVILLE, Tenn. — Dollar General is going hostile with its $9.1 billion bid for Family Dollar after its rival repeatedly rejected previous offers. The discount chain has commenced an open offering to investors of Family Dollar Stores Inc. for $80 per share in cash. That offer was rejected last week by the company’s board, which has already accepted a deal ...

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