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Tag Archives: finance

TODD SMITH — U.S. Trust, Merrill Lynch brands ride into sunset post Bank of America Merger

Two of the most iconic names in banking are galloping into the sunset! Recently, Bank of America said it will gradually retire the U.S. Trust brand to become the Bank of America Private Bank. The move is part of CEO Brian Moynihan’s “one-company” strategy to more closely align the bank’s various businesses and branding. The company will also no longer ...

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BancorpSouth moving closer to $20B with two more mergers

By DENNIS SEID / Daily Journal TUPELO • BancorpSouth Bank is getting closer to becoming a $20 billion bank, announcing Wednesday it was expanding its presence in Texas and Florida. The Tupelo-based bank said it was acquiring Van Alstyne Financial Corp., the parent company of Texas Star Bank, and Summit Financial Enterprises Inc., the parent company of Summit Bank. The ...

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Take the long view regarding stock market volatility

By BECKY GILLETTE In December 2018, U.S. stock markets had their worst performance since 1931. The Dow Jones had its worst Christmas Eve on record. While those facts are very concerning, Mississippi investment advisers are recommending clients stay the course and avoid the temptation to sell stocks when the market is down so much. “The best advice I give my ...

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JUSTIN KELLY — You can’t time the market

Why you should avoid practicing market timing There are many things that could affect the overall equity market and any individual stocks you may own—from economic trends to geopolitical events like an election. What is certain is that the market will always have its peaks and dips. This market cycle can make it tempting for investors to attempt to buy ...

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Mississippi man reports to Arkansas prison for Ponzi scheme

A former Mississippi businessman sentenced to almost 20 years in prison for operating the largest Ponzi scheme in state history is in a federal prison in Arkansas. The Clarion Ledger reported that 58-year-old Arthur Lamar Adams of Madison County reported to the Forrest City Low Correctional Institution in Forrest City, Arkansas, on Monday. Adams had asked to serve his sentence ...

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Mississippi bank accused in lawsuit of unfair overdraft fees

Two women say in a lawsuit that a Mississippi-based bank is unfairly charging overdraft fees. The Clarion Ledger reports Cryesha McDonald of Waynesboro and Chantal Lewis of Jackson sued Trustmark National Bank this month in federal court in Jackson. Lawyers representing the women seek approval for a class-action lawsuit representing all the bank’s customers. They allege Trustmark also charges surprise ...

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Trustmark Names Duane A. Dewey Chief Operating Officer

Trustmark Corporation has announced that Duane A. Dewey has been named Chief Operating Officer of Trustmark National Bank effective January 1, 2019. Gerard R. Host, President and Chief Executive Officer, commented, “Duane is a valuable member of our executive team and has a distinguished record of achievement during his 15-year tenure at Trustmark. He understands our customers, markets and culture ...

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Stone making her community a better place to live and work

By CALLIE DANIELS Three years ago, a Memphis native moved for the first time to Tupelo. Not only did she meet and marry her husband, become a mother to two sons: she impacted her community for the better. “I was born and raised in Memphis,” said Tiffany Stone. “I moved here because the job I had at the time was ...

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Mississippi bank to buy Louisiana bank for $86M in stock

A Mississippi bank is buying a Louisiana bank. The First Bancshares Inc. of Hattiesburg announced Tuesday that it’s buying FPB Financial Corp. for $86 million in stock. The Hammond, Louisiana-based company owns Florida Parishes Bank, with $383 million in assets and seven offices in the Hammond and New Orleans areas. The First’s would spread its Louisiana footprint, filling a hole ...

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