At a loss: MidSouth Bank reported a quarterly net loss of $11.3 million and roughly $9.3 million in writedowns for the fourth quarter of 2017. The year, president and CEO Jim McLemore says in a statement, was a particularly challenging one for the bank. Efforts were made to turn the bank around and reduce its risk profile while building a strategy for long-term growth. The fourth quarter includes an after-tax charge of $3.9 million due to a transfer of loans and a $3.6 million charge off resulting from the federal tax overhaul. Still, McLemore says the bank’s capital position is strong and it has increased it overall liquidity. Read more.
Before it airs: Watch a preview of Hanley’s Foods on the upcoming episode of CNBC’s Billion Dollar Buyer, airing at 9 p.m. on Wednesday. Host and hospitality mogul Tilman Fertitta visits the Baton Rouge-based salad dressing company to decide whether to buy the company’s product. Fertitta also visits Pasturebird, a California-based all-natural chicken farm, during the episode.
Cruising along: A record 1.15 million cruise line passengers moved through Port of New Orleans terminals in 2017—the fourth consecutive year the port saw more than one million travelers, according to a news release. The Port of New Orleans ranks as the sixth-largest cruise port in the United States, with direct industry expenditures in Louisiana totaling $432 million. The port says it expects to see more passengers this year as demand for New Orleans cruises grows.
