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Tag Archives: banking and finance

Trustmark completes purchase of Alabama-based bank

JACKSON — Trustmark Corporation has completed its merger with Mobile, Ala.-based BancTrust Financial Group Inc., as well as the merger of BankTrust with and into Trustmark National Bank. Gerard R. Host, President and CEO of Trustmark, stated, “We are delighted to expand the Trustmark franchise across Alabama, including the attractive Mobile, Montgomery and Selma markets, as well as strengthening our ...

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Three more drought-ridden counties eligible for assistance

NORTH MISSISSIPPI — The U.S. Small Business Administration reports federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Alcorn, Benton and Tippah counties as a result of the drought and excessive heat. Under this declaration, the SBA’s Economic Injury Disaster Loan ...

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Southern Bancorp branch earns LEED certification

HERNANDO — Shortly after the opening of the Southern Bancorp Hernando Branch in summer 2011, Southern applied for LEED (Leadership in Energy and Environmental Design) certification. The United States Green Building Council (USGBC) has now awarded the Hernando Branch its LEED Certification – the first LEED Certified bank building in the State of Mississippi, according to Southern. The Hernando Branch ...

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BancorpSouth commences $100M public offering

TUPELO — BancorpSouth Inc. has commenced an underwritten public offering of $100 million of its common stock. The company said it intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of common shares sold pursuant to this transaction. All of the shares are being offered by the Tupelo-based financial institution. BancorpSouth said it ...

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Fed's Bullard discusses new research paper

NORTH MISSISSIPPI — Federal Reserve Bank of St. Louis president James Bullard recently discussed his new research paper, titled “Death of a Theory,” with members of various financial institutions and local business leaders at the Edward Jones Annual Meeting. Bullard discussed business cycle stabilization using fiscal rather than monetary policy. The former attempts to react to aggregate shocks to the ...

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Report: Mississippi has lowest average home loan

ACROSS MISSISSIPPI — LendingTree.com has released data highlighting the average loan amount on residential real estate purchases for all 50 states and Washington D.C. for the year. Hawaii, by far, leads the nation with an average home loan amount of $677,299, followed by Washington, D.C., at $393,453, New Jersey at $344,240 and New York at $340,124. The states with the ...

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SBA loans available to victims of drought

BENTON COUNTY and MARSHALL COUNTY — The U.S. Small Business Administration’s economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Benton and Marshall counties in Mississippi as a result of drought and excessive heat that occurred from May 1-Oct. 31, 2011. “These ...

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Report: State's foreclosure rate fell in 2011

ACROSS MISSISSIPPI — The pace of home foreclosures in Mississippi slowed substantially in 2011, following a national trend that may soon be reversed, a national foreclosure tracking firm said yesterday. Irvine, Calif.-based RealtyTrac said that in 2011, 3,172 homes in the state were hit by some sort of foreclosure action. Those range from an initial notice of default to repossession ...

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