Home » Tag Archives: banking and finance (page 30)

Tag Archives: banking and finance

Peoples' earnings hit by loan losses

BILOXI — Peoples Financial Corporation, parent of The Peoples Bank, earned $3.22 million for the year, announced Chevis C. Swetman, chairman and CEO of the holding company and the bank. Earnings for 2009 were 36 percent lower than earnings for 2008 due mainly to additions to the bank’s loan loss reserves totaling $5.225 million. “We are enduring short-term pain to ...

Read More »

ABA warns of e-mail scam

WASHINGTON — The American Bankers Association (ABA) has been alerted that someone or a group of individuals sending e-mails purporting to be from ABA are actually part of a scam commonly known as “phishing.” These con artists are sending emails asking people to click on a link for more information — a popular technique to get financial information from the ...

Read More »

Ex-banker sentenced for fraud, embezzlement

BRANDON — Authorities say a former branch manager of a Brandon bank has been sentenced to one year in prison for fraud and embezzlement. U.S. Attorney Donald R. Burkhalter said Peggy Sue Harrell was sentenced Tuesday in U.S. District Court in Jackson. She was also ordered to pay $39,308 in restitution. Harrell pleaded guilty to the charges on September 30, ...

Read More »

Citizens' loan losses mount

PHILADELPHIA — Citizens Holding Company saw net income for the three months ended Dec. 31, 2009, decreased to $1.703 million, or $0.35 per share-basic and diluted, from $2.055 million, or $0.42 per share-basic and diluted for the same quarter in 2008. Net interest income for the fourth quarter of 2009, after the provision for loan losses for the quarter, was ...

Read More »

Britton & Koontz hurt by loan losses

NATCHEZ — The board of directors of Britton & Koontz Capital Corporation reported net income for the year ended Dec. 31, 2009, of $2.3 million, or $1.06 per basic and diluted share, compared to $3.5 million, or $1.65 per basic and diluted share, for 2008. Net income for the quarter ended Dec. 31, 2009, was $569,000, or $.27 per basic ...

Read More »

Weak dollar forces up oil prices

Oil prices rose to near $75 a barrel Monday, as the effects of a weaker dollar offset falls in stock markets over President Barack Obama’s plans to restrict big banks. By early afternoon in Europe, benchmark crude for March delivery was up 23 cents to $74.77 a barrel in electronic trading on the New York Mercantile Exchange. The contract lost ...

Read More »

Obama's speech spooks investors

NEW YORK — The stock market turned sharply lower today as investors anxiously waited for President Barack Obama to speak about his financial overhaul plan. The Dow Jones industrial average tumbled 170 points, its fourth straight triple-digit swing. Financial stocks led the latest pullback. Obama was to announce the plan for tougher regulation of the nation’s banks in remarks at ...

Read More »

Bank of America posts $5.2B loss

CHARLOTTE, N.C. — Bank of America Corp. said Wednesday it lost $5.2 billion during the final three months of 2009 as consumers struggled to make mortgage and credit card payments and the bank repaid its government bailout money. Bank of America said its loss, which reflected the payment of preferred dividends, compared with a loss of $2.4 billion a year ...

Read More »

Renasant reports better quarter

TUPELO — Renasant Corporation saw net income for 2009 of $18.518 million, compared to $24.052 million for 2008. Basic and diluted earnings per share were $0.88 and $0.87, respectively, for 2009, compared to basic and diluted earnings per share of $1.15 and $1.14, respectively, for 2008. For the fourth quarter of 2009, net income was $4.031 million, compared to $232,000 ...

Read More »

Morgan Stanley reports big loss

NEW YORK — Morgan Stanley said today it earned $617 million during the last three months of 2009 as its investment banking operations profited from its Smith Barney joint venture. The results gave Morgan Stanley its second straight profitable quarter following a year of losses. The bank said it earned 29 cents a share on $6.8 billion in revenue. That ...

Read More »