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Banking & Finance

BancorpSouth's earnings dip

TUPELO — During the second quarter of 2009, BancorpSouth Inc. recorded net income of $33.9 million, or $0.41 per diluted share, compared to $40.1 million, or $0.49 per diluted share, for the second quarter of 2008. The financial institution also reported growth of net loans and leases by 3 percent from the second quarter of 2008, non-performing loans of 1.00 ...

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ECD awarded NMTC funding

JACKSON — Enterprise Corporation of the Delta (ECD) has been awarded $20 million in New Markets Tax Credit (NMTC) authority from the U.S. Treasury Department’s Community Development Financial Institutions Fund. ECD is one of 32 Community Development Entities nationwide to receive an award with resources made possible through the American Recovery and Reinvestment Act. The NMTC Program injects private-sector capital ...

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First M&F records more losses

KOSCIUSKO — First M&F Corp., for the quarter ended June 30, 2009, recorded a net loss of $5.111 million, or a negative $(.61) basic and diluted earnings per share, compared to the first quarter of 2009 loss of $27.241 million, or negative $(2.99) per share and a loss of $.466 million, or $(.05) basic and diluted earnings per share for ...

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Tale of Two Cities

The City of Jackson can create a successful revitalization program in its central business district just like the one now shared by neighboring Baton Rouge, La., and East Baton Rouge parish. More than 60 Jackson area business and civic leaders heard that message often last week, spending parts of two days in the Louisiana capital, admiring the progress in person ...

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Credit unions renew contracts

JACKSON and BILOXI — Credit Union 24, the national credit union-owned ATM and point-of-sale (POS) network, announced today that 17 credit unions have renewed contracts with the network during Q2 2009, representing more than $3.4 billion in assets with more than 360,000 members.  A total of 29 credit unions have renewed to date in 2009, with 21 new credit unions ...

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Farese opens another office

RIDGELAND — The Farese Group recently expanded its footprint by opening a new branch in Little Rock, Ark. The expansion will allow the Farese Group to better serve clients in Arkansas and to provide retirement planning services to more employees and retirees in the telecommunications and utilities industries. “The expansion into Arkansas has allowed us to assist new clients in ...

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Enerkem gets financing from ATEL

PONTOTOC — ATEL Ventures, a San Francisco-based provider of secured financing to growth companies, has extended an asset-backed financing facility to waste-to-fuels company, Enerkem. Enerkem of Sherbrooke, Quebec, Canada, develops and produces of advanced biofuels and green chemicals from waste materials. It is currently operating its first commercial-scale plant in Westbury, Canada, and has announced plans to build and operate ...

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Lexaria lands new financing

Lexaria Corp. completed an equity financing and restructuring that will support ongoing operations. After issuing 3.67 million new shares to complete the recent financing and partial debt settlement, Lexaria will have approximately 9.76 million shares issued and outstanding. There are a total of 500,000 stock options issued and outstanding. Lexaria reports its existing wells continue to produce oil at the ...

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SBIC program augmented

WASHINGTON — Small businesses that would otherwise have difficulty securing private equity or venture capital may find funding easier to get as a result of changes made as part of the American Recovery and Reinvestment Act to the U.S. Small Business Administration’s (SBA’s) Small Business Investment Company (SBIC) program. SBICs are privately owned and managed venture capital firms that are ...

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Renasant files with SEC

TUPELO — Renasant Corporation has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (SEC). The shelf registration statement, once the SEC declares it effective, will allow the company to raise capital from time to time, up to an aggregate of $150 million, through the sale of common or preferred stock, warrants and units or ...

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