MidSouth Bancorp, Inc. just stated net profits for common stakeholders of $879,000 for the final quarter of the year 2011, in comparison to net revenue available to common investors of $1.6 million declared for the fourth quarter of 2010. Diluted earnings for the fourth quarter of 2011 were $0.09 per common share, down from the $0.16 per common share for the fourth quarter of 2010.

C.R. “Rusty” Cloutier, President and Chief Executive Officer, commenting on fourth quarter results, remarked “In December, we completed the acquisition and systems conversion of the Beacon Federal branch in Tyler, Texas and First Louisiana National Bank in Breaux Bridge, Louisiana. As a result, the fourth quarter included $0.08 per share of merger related expenses. Excluding these non-operating expenses, we had strong operating earnings per share in the quarter of $0.17 versus $0.14 in the third quarter. We are very excited to expand our market presence in Texas and Louisiana and look forward to the positive impact of these acquisitions on our franchise and to future earnings.”

Dividends given for the Series B Preferred Stock totaled $400,000 for the last quarter of the year 2011 based on a dividend amount of 5%. In August 2011, the Company issued $32.0 million in Series B Preferred Stock to the Treasury in connection with the Small Business Lending Fund (“SBLF”). The dividend rate on the Series B Preferred Stock going forward will be between 1% and 5% based on the level of qualified small business loans. Linked-quarter net earnings available to common shareholders were impacted by the repayment of $20.0 million in Series A Preferred Stock issued to the Treasury under the Capital Purchase Plan with funds from the U.S. Treasury that were authorized by Congress under the Small Business Jobs Act of 2010.

The U.S. Small Business Administration is telling smaller businesses that February. 24 is the submission due date pertaining to federal financial damage disaster loans obtainable in Lee and Scott counties in Virginia. The SBA proclaimed a natural disaster because of extreme storms, tornadoes, straight-line wind gusts along with floods which started on April 23, last year.

In addition, the Small Business Administration declared this week that federal government economic damage disaster loans are offered to small business, small farming cooperatives, small organizations active in aquaculture and most private non-profit firms of any size based in the counties of Dillon and Horry in South Carolina due to Hurricane Irene which took place in August.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist eligible entities affected by the same disaster,” explained Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is readily available to eligible farm-related along with nonfarm-related companies that suffered economic losses as a direct consequence of this calamity. With the exception of aquacultural enterprises, agricultural companies, farmers and ranchers are not eligible to apply to SBA.

Financing for small business can be up to $2 million, with interest rates of 3 percent for non-profit organizations and 4 percent for small businesses. Terms can be up to 30 years. The SBA decides eligibility depending on the size of the prospect, form of undertaking as well as its financial means. The agency designs financial loan amounts and terms dependent upon every candidate’s fiscal condition. The may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. These particular small business loans are not designed to replace decreased sales or business earnings.

The U.S. Small Business Administration announced this week that federal economic injury catastrophe financial loans are offered to small businesses, small agricultural cooperatives, small organizations active in aquaculture and the majority of private non-profit establishments of all sizes situated in the counties of Dillon as well as Horry in South Carolina as a result of Hurricane Irene that occurred in August.

“These counties are eligible because they are contiguous to one or more primary counties in North Carolina. The Small Business Administration recognizes that disasters do not usually stop at county or state lines. For that reason, counties adjacent to primary counties named in the declaration are included,” noted Frank Skaggs, director of SBA’s Field Operations Center East in Atlanta.

“When the Secretary of Agriculture issues a disaster declaration to help farmers recover from damages and losses to crops, the Small Business Administration issues a declaration to assist eligible entities affected by the same disaster,” explained Skaggs.

Under this declaration, the SBA’s Economic Injury Disaster Loan program is available to qualified farm-related in addition to nonfarm-related businesses that encountered financial losses being a direct result of this disaster. Excluding aquacultural enterprises, agricultural producers, farmers and also ranchers are not eligible to apply to SBA.

Loan options for small business can be up to $2 million, with interest rates of 3 percent for non-profit organizations and 4 percent for small businesses. Terms can be up to 30 years. The SBA determines eligibility in line with the size of the prospect, form of endeavor and its financial resources. The agency creates loan amounts in addition to terms dependent on each applicant’s economic condition. These SBA small business loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The small business loan financing is not intended to replace lost sales or profits.