Business notebook: First State Community Bank undergoing expansion

First State Community Bank at 2527 William St. in Cape Girardeau has begun an expansion that will enlarge the facility to more than 13,000 square feet.

The two-story expansion will add 4,350 square feet to the structure, said Dan Combs, First State Community Bank senior vice president.

"It's going to be basically all office space," Combs said. "With the growth we've had there, we've added a couple more loan officers, and we had run out of offices for all those guys. So we're adding more loan-officer space.

"We're going to have our post office be able to open before hours, because we're going to have another window as you walk in the lobby, so that'll allow them to have better hours for that side of it."

Combs said the post office also will be able to remain open after the bank lobby closes in the evening.

Combs said another reason for the expansion was consolidation of departments.

"We'd actually moved our insurance agency over down the street," Combs said. "Well, we really want the loan officers and the insurance agency to be in the same building, so we want to be able to get them back over there as well as them have some room for future growth."

Combs said the expansion will not have a major effect on the bank's other branches.

"We really like the location there; we just need more space," he said.

Combs said they're hoping to get the project "under roof" before winter, with a target completion date of early June.

Auto Tire and Parts wins Triumph Award

The Tri-State Advertising and Marketing Professionals and Department of Management and Marketing at Southeast Missouri State University selected Auto Tire and Parts as the winner of this year's Triumph Award, according to a news release from Southeast.

The award honors long-term marketing excellence in the region. Previous winners include Drury Industries, Rhodes 101 Convenience Stores, Plaza Tire and Bluff City Beer, the release stated.

Auto Tire and Parts was founded in 1909 and has grown to more than 40 locations in four states.

The award will be presented during a luncheon during the Marketing and Small Business Conference on Sept. 22 at Ray's Conference Center in Cape Girardeau.

Isle announces quarterly results

Isle of Capri Casinos Inc. has seen an increase in revenue, according to numbers for the first quarter of fiscal 2016 that ended July 26.

The company's net revenue increased 4.2 percent year over year to $246.9 million. Its consolidated earnings before interest, taxes, depreciation and amortization increased 15.9 percent over the same quarter last year, to $51.1 million.

Interest expense was $17.4 million this quarter versus $21.3 million the same quarter last year. Isle reported that was a result of a lower overall debt balance and the refinancing of 7.75 percent Senior Notes due in 2019. The company recorded a $3 million loss last quarter on extinguishment of debt related to the those notes.

Isle incurred a non-cash pretax charge of $4.4 million in discontinued operations during the first quarter as a result of selling its Natchez, Mississippi, casino and other assets. The loss from discontinued operations in the first quarter was $5.3 million, or $0.13 per share.

As of July 26, the company had $62 million in cash and cash equivalents, excluding $9.7 million in restricted cash and investments, $989.3 million in debt and $159 million in net line of credit availability.

Corporate and development expenses for the quarter were $7.6 million, down from the $9.1 million in the first quarter of fiscal 2015, which included severance expenditures of $2.3 million related to corporate office restructuring.

Isle Casino Cape Girardeau generated adjusted earnings before interest, taxes, depreciation and amortization gain of 15.4 percent on "relatively flat" revenue because of lower sales and marketing costs. The casino's net revenue during the first quarter was just under $14.48 million, up slightly from $14.36 million in the same quarter last year.

Hospital awarded grant

Missouri Delta Medical Center in Sikeston, Missouri, was awarded a Community Facility Grant by the U.S. Department of Agriculture Rural Development.

The grant will fund the expansion of the emergency room, according to a USDA news release.

The grant officially was announced Thursday at the medical center.

Business licenses

• Massage ReStore, 1409C N. Mount Auburn Road, Cape Girardeau, is a massage studio owned by Dina Palmer, according to a business license application.
• Unidine Corp., 789 S. Mount Auburn Road, Cape Girardeau, is a food and dining management service at Southeast Hospital, according to a business license application.

kwebster@semissourian.com

(573) 388-3642