Mississippi

BankFirst Capital Corp. is seeking to bolster its presence in southern Mississippi with a deal to acquire Magnolia State.

Amid flooding and a lack of drinking water, Regions Financial announced a slate of fee waivers and loan deferrals, alongside a donation to a local United Way. Cadence Bank is supplying fresh water to ensure it can keep its doors open.

The $2 billion-asset buyer could gain more than $300 million of deposits in the Magnolia State.

Banks in Louisiana and Mississippi are finding less physical branch damage than many expected. Executives say the pace of the recovery will hinge on how quickly power and water are restored, as well as the cost of supplies and labor.

The National Credit Union Administration issued a prohibition order against a former employee of Members Exchange Credit Union in Mississippi.

The Mississippi company said Duane Dewey, the president of its bank, will succeed Gerard Host as CEO in January.

The company will pay an undisclosed amount of cash for Marshall Financial, the parent of Citizens Bank.

The Mississippi company said it decided to take aggressive measures to reduce its exposure to energy firms.

The Biloxi, Miss.-based institution has been adding branches and entering markets and now has absorbed Mississippi Farm Bureau Employees Credit Union.

Recent political controversies are forcing credit unions and industry groups to reconsider their support for lawmakers they previously endorsed.