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Banking & Finance

Economic symposium returning to Coast

BILOXI — The 42nd Hancock Bank Gulf Coast Economic Symposium will be held Oct. 6 from 7 a.m. until 12:15 p.m. at the Mississippi Coast Coliseum Convention Center in Biloxi. This year’s theme is “Gulf South Strong & Proud — Insights for Success.” The event will explore the economic potential and prosperity along the I-10 corridor spanning New Orleans and ...

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Hosemann calls Stanford meeting

JACKSON — Secretary of State Delbert Hosemann will hold a public hearing regarding Stanford Financial Oct. 5 from 1 p.m.-2:30 p.m. in Room 113 of the Mississippi State Capitol in Jackson. Kentucky Secretary of State Trey Grayson, who also serves as president of the National Association of Secretaries of State (NASS), will be in attendance. In addition, the president-elect of ...

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UPDATE: Small Miss. banks still not interested in TARP

Washington is considering another round of bank bailouts for banks that were too small or risky for the first disbursement of Troubled Asset Relief Program funds in fall 2008. But “bailout” might not be the right word, since some banks receiving these funds are in good financial standing. Qualifications are vague, but these new funds could go to banks with ...

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DSU using unique financing for dorm

CLEVELAND — Delta State University will host a groundbreaking ceremony for a new 362-bed residence hall Sept. 23, at 1:30 p.m. at the corner of Maple and Washington streets. The new facility is scheduled to open in the fall of 2010 and will stand where Bond-Carpenter and Whittington-Williams halls once stood on the south side of the campus. Delta State ...

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Fitch rates Forrest General bonds

HATTIESBURG — Fitch Ratings has assigned an “A” rating to the expected issuance of the $44.99-million Mississippi Hospital Equipment and Facilities Authority’s series 2009 refunding bonds issued for the benefit of Forrest General Hospital (FGH). Fitch also affirms the rating on the hospital’s outstanding series 2007 and 2000 bond issues. The rating outlook is “stable.” Bond proceeds will be used ...

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Levens takes seat on Hancock board

GULFPORT — Long Beach native Jerry L. Levens, a Mississippi Gulf Coast CPA and certified fraud examiner, has been named to the Hancock Holding Company board of directors. A partner with Alexander, Van Loon, Sloan, Levens & Favre, PLLC, of Gulfport and Wiggins, Levens became a member of the Hancock Bank Mississippi board in May 2008. As a Hancock Holding ...

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The First gets new CEO

HATTIESBURG — M. Ray “Hoppy” Cole will be named CEO of The First, A National Banking Association and The First Bancshares. He took over as CEO Sept. 14. Cole is a founding director of the First National Bank of the Pine Belt (the predecessor bank of the current Laurel branch) and a director of The First Bancshares Inc. Cole joined ...

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Robinson named Magnolia president/CEO

BAY SPRINGS — After 30 years of serving as Magnolia State Bank president, CEO and chairman Thomas Brown has named a new president and CEO, Marcus Robinson, formerly with Regions Bank in Hattiesburg. Brown will continue to serve the bank as a full-time chairman of the board and will continue to maintain an office in Bay Springs. “With Marcus on ...

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Fitch rates education bonds

JACKSON — Fitch Ratings assigns an “AA-” rating to the University of Mississippi (UM) Educational Building Corporation’s (EBC) approximately $15.2 million of revenue bonds, series 2009C-1 (Residential College Project – Phase II) and Build America Bonds, series 2009C-2 (Residential College Project – Phase II, Federally Taxable Build America Bonds) (collectively, the bonds). A portion of the bonds may be sold ...

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Cadence selling insurance firm

COLUMBUS — Officials of Galloway Chandler McKinney Insurance Agency Inc. (GCM) announced the execution of an agreement by which previous owners and several associates of GCM have purchased the company back from Cadence. Terms were not disclosed. The ownership change concludes 10 years of a mutually beneficial relationship in which GCM operated as a wholly-owned subsidiary of Cadence Bank. The ...

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