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Tag Archives: banking and finance

Deadline approaching for SBA disaster loans

ACROSS MISSISSIPPI — The U.S. Small Business Administration is reminding homeowners, renters, businesses and non-profit organizations of the deadline to submit disaster loan applications for damages caused by the flooding that began May 3. The deadline to file an SBA disaster loan application for physical damage is July 11, 2011. The SBA urges those affected by the disaster to visit ...

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Ex-mortgage broker gets jail time for fraud

RIDGELAND — Former Ridgeland mortgage broker Mark Calhoun has been sentenced to 16 years and eight months in prison for mortgage fraud in a scheme that involved more than $10 million in fraudulent loans. Yesterday, U.S. District Judge Dan Jordan also sentenced Calhoun’s associates, J. Larry Kennedy, and son Keith Kennedy, who operated a mortgage loan closings business. They were ...

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Hancock's ratings downgraded following merger

GULFPORT — Moody’s Investors Service has downgraded the long- and short-term financial ratings of Hancock Holding Co. following its acquisition of Whitney Holding Corp. Moody’s said June 7 the ratings outlook for Gulfport-based Hancock is stable. Hancock was put under review when it announced the deal to acquire Whitney Dec. 22. Moody’s says it took the action because Whitney is ...

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Fitch revises Whitney's ratings after Hancock merger

GULFPORT — With the closing of Hancock Holding Company’s (HBHC’s) purchase of Whitney Holding Corp (WTNY) June 4, Fitch Ratings has revised the “Rating Watch” on Whitney Bank (previously Whitney National Bank) to “positive” from “evolving.” Concurrent with this action, Fitch has withdrawn the ratings of Whitney Holding Corporation following the closing of the transaction and the retirement of WTNY’s ...

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Hancock Holding completes acquisition of Whitney

GULFPORT — Hancock Holding Company has completed its acquisition of Whitney Holding Corporation, effective June 4. “This milestone in the rich histories of two well-established Gulf South banks begins a new era of opportunity for the company, our Hancock and Whitney customers, and the communities we serve,” said Hancock Holding Company president and CEO Carl J. Chaney. “The merger of ...

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MBJ Editorial: Education remains atop state’s business wish list

Nearly eight out of 10 Mississippi business leaders (79 percent) believe our state can experience the same type of economic success as other high-growth Southern states. That is according to a report on the results gathered during in the Mississippi Economic Council’s Blueprint Mississippi Road Show. More than 2,000 took part in the electronic voting process, and an additional 1,000 ...

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Adams and Reese named 'Law Firm of the Year'

JACKSON — Adams and Reese has been selected “Project Finance Law Firm of the Year – USA” and “Banking and Finance Firm of the Year – USA” by Finance Monthly Magazine. In the last few years, Adams and Reese transaction attorneys, led by the firm’s Public Finance Team and Banking and Finance Team have been involved in project and bank ...

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Peoples Bank takes home national SBA award

MENDENHALL — Peoples Bank of Mendenhall recently received the Small 7(a) Lender of the Year Award from the U.S. Small Business Administration (SBA). While portfolio performance played a significant role in the award, the institution’s continued support of small business, especially in underserved communities during challenging economic times was also a major factor. In FY 2010, Peoples Bank made 320 ...

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The First buying eight Whitney bank branches

HATTIESBURG and GULFPORT — Executives of The First Bancshares Inc., Whitney National Bank and Hancock Bank of Louisiana announced that a subsidiary of The First Bancshares, The First, A National Banking Association, has entered into a branch purchase and assumption agreement with Whitney National Bank and Hancock Bank of Louisiana to acquire seven Whitney branches located on the Mississippi Gulf ...

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Feds give approval for Hancock-Whitney merger

GULFPORT — Hancock Holding Company reports it has received all federal regulatory approvals required under the merger agreement in connection with its proposed merger of Whitney Holding Corporation. The closing of the merger is expected to be effective as of June 4. Upon completion of the transaction, the combined company is expected to be the 32nd largest bank holding company ...

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