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Banking & Finance

JOINING FORCES

Hancock and Whitney banks merge to form the America’s 32nd largest financial services institution Two of the Gulf South’s oldest financial institutions will complete a merger during the second quarter of this year to become the 32nd largest financial services institution in the United States. Gulfport-based Hancock Holding Company, parent company of 112-year-old Hancock Bank, and Whitney Holding Corporation, founded in ...

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Renasant reports improved quarter, year

TUPELO — Renasant Corp., parent of Renasant Bank, showed a substantial income gain in 2010 over the previous year, generating net income of $31,675,000 compared to $18,518,000 for 2009. In its fourth quarter and year-end earning report, the Tupelo-based regional bank reported 4Q net income of $4.72 million, compared to slightly more than $4 million for the previous quarter. Basic and ...

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Hancock sees earnings climb post-merger

GULFPORT – Just off its pre-Christmas announcement of a planned acquisition of Gulf South competitor Whitney National Bank, Hancock Holding Co. is reporting a fourth quarter net income increase of 14.6 percent over the previous quarter and 27.9 percent over the fourth quarter of 2009. New Orleans-based Whitney Holding Corp., parent of Whitney National Bank, is scheduled to announce its ...

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House passes controversial payday lending bill

JACKSON — The Mississippi House passed a bill yesterday that would give consumers more time to pay off short-term loans and would reduce the maximum amount of interest payday lenders could charge. The bill also would let payday-lending businesses operate at least another five years in Mississippi. It passed 78-38 after more than an hour of debate. The bill moves ...

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Hancock's quarterly earnings up, annual earnings down

GULFPORT — Hancock Holding Company has announced financial results for the fourth quarter and year ended Dec. 31, 2010. For the fourth quarter of 2010 net income increased 14.6 percent over the preceding third quarter of 2010 to $17 million and advanced 27.9 percent over the 2009’s fourth quarter, excluding certain non-recurring merger items associated with that quarter’s acquisition of ...

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Survey: State's foreclosures soared in 2010

ACROSS MISSISSIPPI — Although Mississippi has avoided the crux of the national housing crisis, the number of properties targeted by foreclosure filings in 2010 jumped more than twofold from two years ago, a national tracking firm said today. In addition, foreclosure action picked up in the state during the latter portion of the year. Irvine, Calif.-based RealtyTrac said 5,280 properties ...

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SBA lending in state sets another record

JACKSON — The U.S. Small Business Administration has guaranteed 324 loans for Mississippi small businesses totaling approximately $153.139 million during the first three months of fiscal year 2011. This represents a 60 percent increase in the number of loans approved and a 186 percent increase in loan dollars approved compared to the first quarter of fiscal year 2010, which had ...

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Survey: Mississippi has lowest mortgage rate in U.S.

ACROSS MISSISSIPPI — Average mortgage rates fell week-over-week, but the decrease is expected to be short-lived, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average home loan rates available within the LendingTree network of lenders. On Jan. 11, average home loan rates offered by LendingTree network lenders were 4.97 percent (5.22 percent APR) for ...

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