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First American gets new life with proposed merger: ''major milestone'' for minority-owned institution. (Focus Banking & Financial Services).

Publication: Mississippi Business Journal
Publication Date: 10-MAR-03 		Format: Online - approximately 834 words
Delivery: Immediate Online Access
Full Article Title: First American gets new life with proposed merger: ''major milestone'' for minority-owned institution. (Focus Banking & Financial Services).(First American Bank and Liberty Bank and Trust Co. may merge)

Article Excerpt
JACKSON -- Both Mary Ann Franklin and Dr. Ollye B. Shirley, president/CEO and board chair, respectively, at First American Bank, wrapped up their mood in one word: exuberant.

After a decade of frustrated plans for growth, the leaders of the minority-owned financial institution believe a new day is finally dawning as it approaches a proposed merger with Liberty Bank and Trust Company of New Orleans, a subsidiary of Liberty Financial Services, which is also minority-owned.

"It's a major milestone for us," said Franklin, who has been the chief officer at First American since April 1999. "When this bank was founded 10 years ago, the goal was to be a statewide financial institution. Due to a lack of capital, we have not been able to...

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