Bank buy I.Heard about an Arkansas lender expanding its presence in the Magnolia Magnolia, city, United States Magnolia (măgnō`lyə), city (1990 pop. 11,151), seat of Columbia co., SW Ark.; inc. 1855. Its oil industry has been important since 1938. State? First Financial Bank of El Dorado El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. is working to buy Cornerstone Bank of Senatobia, Miss., in a near $8 million transaction. Cornerstone is a $46 million-asset concern with a second location in nearby Hernando, Miss., south of Memphis. It was organized in 1999 and has around 400 local investors. Cornerstone reported a $377,000 loss during 2005, which followed a $176,000 loss in 2004. First Financial reported a $9 million profit in 2005 and total assets of more than $493 million. First Financial has an agri lending office in Carthage, Miss., as well as five other out-of-state locations: Nacogdoches, Texas Nacogdoches (pronounced [ˌnæːkə̆ˈdoʊtʃɪs]) is a city in Nacogdoches County, Texas, in the United States. As of the 2000 census, the city population was 29,914. ; Elizabethtown, Ky.; Enterprise, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. ., Gainesville, Ga.; and Neosho, Mo. The deal is expected to close by May or June. |
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