MidSouth Bank announced its first quarter financial results and celebrated positive earnings for a ninth consecutive quarter.
According to the report released by MidSouth’s board of directors, Rutherford County’s hometown bank reported a net income of $376,000 for the period ending March 31.
The first quarter’s results were up sharply in comparison to the same period last year when MidSouth earned $82,000.
In 2011, the bank finished the year with record earnings of $1,062,000, a 49 percent improvement compared to earnings of $711,000 in 2010.
MidSouth’s assets also increased slightly to $238.7 million during the same period.
According to Chairman & CEO Lee Moss, “MidSouth’s leadership is encouraged to see that the positive turnaround that began in 2010 continues to gain momentum. There is no doubt that the diligent efforts of our entire banking team has contributed greatly to the improvements in our bottom line.”
Moss also attributed some of the bank’s ongoing success to a continued improvement in sustainable core earnings, noting that provisions for loan losses have dropped dramatically over the last two years as problem loans have been reduced.
MidSouth’s capital ratios have remained well above the industry’s well-capitalized standards as a result of raising more than $6.4 million of additional capital in two preferred stock offerings during the last two years, and those ratios continue to improve as a result of the Bank’s improved earnings.
MidSouth Bank began serving Rutherford County in 2004 and has five offices in Murfreesboro and Smyrna. The bank is the only locally owned and operated bank in Rutherford County.
For more information on MidSouth Bank, call 615-278-7100, or visit any of their five locations. Additional information is also available on the bank’s website at midsouthbanking.com.
Resident receives top honors
Murfreesboro resident, Nelson Eddy, partner and creative director at DVL Public Relations & Advertising, was named Silver Medalist for 2012 by the Nashville chapter of the American Advertising Federation.
Eddy, who joined the DVL agency as a writer in 1985 and rose through the ranks to lead the DVL creative team as well as become a shareholder in the agency, was honored at AAF Nashville’s annual awards luncheon at the Renaissance Hotel.
Eddy’s work has been awarded numerous times throughout his career, including an American Advertising Federation Gold Addy Award, Advertising Club of New York’s Andy Award of Excellence, and a One Show Bronze Pencil. His client work has earned hundreds of local and regional Addy award recognitions, and he was named the Nashville Advertising Federation’s Copywriter of the Year in 2001.
MMC doctor treats sleep apnea with davinci robotic surgery
Murfreesboro Medical Clinic Otolaryngologist, Dr. William Gross, recently teamed up with Middle Tennessee Medical Center to perform corrective surgery for the treatment of sleep apnea, using the daVinci Robot.
This innovative procedure is less invasive and requires less recovery time, all the while producing excellent results.
Originally used for transoral robotic surgical resection for the removal of cancer, the daVinci Robot is a dramatic leap forward for patients seeking less invasive surgical solutions for ailments such as sleep apnea.
“The da Vinci Robotic Surgery is an amazing breakthrough for our sleep apnea patients and I am honored to be the first surgeon to use it in Murfreesboro,” Dr. Gross said. “Because the robot can go where the human hand and eye can’t, we can dramatically reduce the invasiveness of head, neck and throat surgeries. This minimally invasive procedure can reduce recovery time and eliminate the need for once required procedures such as splitting and/or removing part of the jaw in order to access the throat. Also, it can reduce extensive cosmetic and functional post-op problems.”
Sleep apnea is a chronic and common sleep disorder that causes those with the condition to stop breathing while sleeping.
This disruption is often caused by excess tonsilar tissue in the back of the throat that clogs the airway and prevents the person from getting proper sleep.
A lack of quality sleep can cause a variety of symptoms such as chronic fatigue, irritability and weight gain.
For more information, contact Kimberly Smith at firstname.lastname@example.org, 615-893-4480 or mmclinic.com.
Amazon kicks off hiring with 50 management spots
Amazon.com has begun its hiring ramp up, with about 50 management positions on the docket currently.
Amazon pledged to bring hundreds of jobs and push for national sales tax reform, the status of which we explored recently for full subscribers.
That ended a dispute over whether the company should have to collect Tennessee sales taxes — it will do so in 2014 if national reform fails — and paved the way for the full range of capital investment in Tennessee.
Amazon.com is encouraging online applications.