UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2005
Check here if Amendment [ ]; Amendment Number _______________________
This Amendment (Check only one): [ ] is a restatement
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: BancorpSouth, Inc.
Address: One Mississippi Plaza
201 South Spring Street
Tupelo, MS 38804
Form 13F File Number: 28-10453
The institutional investment manager filing this report and the person by
whom it is signed hereby represent that the person signing the report is
authorized to submit it, that all information contained herein is true, correct
and complete, and that it is understood that all required items, statements,
schedules, lists and tables are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Cathy S. Freeman
Title: Senior Vice President and Corporate Secretary
Phone: (662) 680-2084
Signature, Place, and Date of Signing:
/s/ Cathy S. Freeman Tupelo, Mississippi May 13, 2005
-------------------- ------------------- ------------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are reported by
other reporting manager(s).)
List of Other Managers Reporting for this Manager: None.
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 1
Form 13F Information Table Entry Total: 777
Form 13F Information Table Value Total: $658,781
(thousands)
LIST OF OTHER INCLUDED MANAGERS:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
No. Form 13F File Number Name
--- -------------------- -----------------
1 28-10939 BancorpSouth Bank
2
FORM 13F INFORMATION TABLE
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER --------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ----- --- ---- ---------- -------- ----- ------ ------
DEUTSCHE BANK-EUR D18190898 10 120 SH SOLE 1 0 0 120
ACE LIMITED G0070K103 62 1506 SH SOLE 1 253 0 1253
AMERICAN SAFETY G02995101 2 200 SH SOLE 1 0 0 200
INSURANCE HOLDINGS LTD
ARLINGTON TANKERS LTD G04899103 10 440 SH SOLE 1 440 0 0
ASSURED GUARANTY LTD-USD G0585R106 8 465 SH SOLE 1 465 0 0
INGSOLL-RAND CO CL A BERMUDA G4776G101 234 2950 SH SOLE 1 2950 0 0
AUDIOCODES LTD M15342104 8 795 SH SOLE 1 0 0 795
GIVEN IMAGING LTD M52020100 5 175 SH SOLE 1 0 0 175
MIND C.T.I. LTD COM M70240102 7 2000 SH SOLE 1 2000 0 0
ABN AMRO HLDG NV SPON ADR 000937102 11 450 SH SOLE 1 0 0 450
A F L A C INC 001055102 89 2400 SH SOLE 1 2400 0 0
AGL RESOURCES, INC 001204106 38 1090 SH SOLE 1 1090 0 0
AT&T CORP COM NEW 001957505 12 680 SH SOLE 1 380 0 300
AT&T CORP COM NEW 001957505 5 297 SH DEFINED 1 49 248 0
ABBOTT LAB 002824100 443 9511 SH SOLE 1 9511 0 0
ABBOTT LAB 002824100 195 4200 SH DEFINED 1 200 4000 0
ABERDEEN ASIA- 003009107 26 4300 SH SOLE 1 4300 0 0
PACIFIC FUND
ADAMS EXPRESS CO COM 006212104 121 9453 SH SOLE 1 9453 0 0
ADAPTEC INC 00651F108 1 400 SH SOLE 1 400 0 0
ADVANCED MICRO DEVICES INC 007903107 3 200 SH DEFINED 1 200 0 0
AEGEON N V ORD 007924103 23 1750 SH SOLE 1 0 0 1750
AETNA INC COM 00817Y108 14 200 SH DEFINED 1 0 0 200
AGILENT TECHNOLOGIES, INC. 00846U101 1 59 SH SOLE 1 59 0 0
AGNICO EAGLE MINES 008474108 7 500 SH SOLE 1 500 0 0
AIR PRODS & CHEMS INC COM 009158106 45 714 SH SOLE 1 129 0 585
AIRTRAN HLDGS INC COM 00949P108 2 245 SH SOLE 1 0 0 245
AIXTRON ADR 009606104 2 510 SH SOLE 1 510 0 0
AKTIENGELELLSCHAFT
ALBERTSONS, INC 013104104 10 485 SH SOLE 1 0 0 485
ALCOA INC 013817101 247 8134 SH SOLE 1 3580 0 4554
ALLIANCE CAP MGMT HLDG L P 01855A101 94 2000 SH DEFINED 1 2000 0 0
ALLIED CAP CO FUND 01903Q108 8 315 SH SOLE 1 315 0 0
ALLSTATE CORP COMMON 020002101 740 13689 SH SOLE 1 8715 0 4974
ALLSTATE CORP COMMON 020002101 16 310 SH DEFINED 1 310 0 0
ALLTEL CORP 020039103 230 4210 SH SOLE 1 3990 0 220
ALLTEL CORP 020039103 553 10100 SH DEFINED 1 10100 0 0
ALPHA NATURAL 02076X102 8 285 SH SOLE 1 0 0 285
RESOURCES INC
ALTERA CORP 021441100 3 200 SH SOLE 1 200 0 0
ALTRIA GROUP INC 02209S103 1194 18274 SH SOLE 1 13120 0 5154
AMBAC FINANCIAL GROUP 023139108 3 50 SH SOLE 1 50 0 0
AMERICA SVC GROUP INC 02364L109 5 230 SH SOLE 1 0 0 230
AMERICAN ELECTRIC POWER 025537101 165 4850 SH SOLE 1 1350 0 3500
AMER EXPRESS CO 025816109 143 2800 SH SOLE 1 2800 0 0
AMERICAN 026874107 470 8500 SH SOLE 1 4910 0 3590
INTERNATIONAL GROUP, INC
AMERICAN 026874107 9 175 SH DEFINED 1 175 0 0
INTERNATIONAL GROUP, INC
AMERUS LIFE HOLDINGS 03072M108 89 1889 SH SOLE 1 1889 0 0
AMGEN INC 031162100 123 2121 SH SOLE 1 511 0 1610
AMGEN INC 031162100 11 200 SH DEFINED 1 200 0 0
AMSOUTH BANCORPORATION 032165102 1048 40402 SH SOLE 1 40402 0 0
ANADARKO PETE CORP 032511107 111 1464 SH DEFINED 1 0 1464 0
ANGLO AMERICAN PLC SP ADR 03485P102 13 560 SH SOLE 1 0 0 560
ANHEUSER-BUSCH COMPANIES 035229103 468 9884 SH SOLE 1 9084 0 800
ANHEUSER-BUSCH COMPANIES 035229103 170 3600 SH DEFINED 1 3600 0 0
ANNALY MTG MGMT 035710409 19 1060 SH SOLE 1 1060 0 0
ANTEON INTERNATIONAL CORP 03674E108 4 125 SH SOLE 1 0 0 125
ANWORTH MTG ASSET CORP COMMON 037347101 19 2015 SH SOLE 1 2015 0 0
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
APPLE COMP INC 037833100 58 1400 SH DEFINED 1 1400 0 0
APPLERA CORP CELERA COM 038020202 5 500 SH SOLE 1 500 0 0
GENOMICS GRP
APPLIED MATERIALS INC 038222105 733 45119 SH SOLE 1 25771 0 19348
ARCH COAL, INC 039380100 6 155 SH SOLE 1 155 0 0
ARCHER-DANIELS-MIDLAND 039483102 6 279 SH SOLE 1 279 0 0
COMPANY
ARGONAUT GROUP INC 040157109 5 270 SH SOLE 1 0 0 270
ARRIS GROUP INC 04269Q100 3 500 SH SOLE 1 500 0 0
ARVINMERITOR 043353101 0 44 SH SOLE 1 44 0 0
ASTORIA FINANCIAL CORP 046265104 3 157 SH SOLE 1 157 0 0
AUGUST TECHNOLOGY CORP 05106U105 2 210 SH SOLE 1 0 0 210
AUTOLIV INC COM 052800109 15 334 SH SOLE 1 334 0 0
AUTO DATA PROCESS 053015103 204 4550 SH SOLE 1 4550 0 0
AUTO DATA PROCESS 053015103 98 2200 SH DEFINED 1 2200 0 0
AUTOZONE 053332102 17 200 SH SOLE 1 200 0 0
AUTOZONE 053332102 41 480 SH DEFINED 1 480 0 0
AVAYA INC 053499109 2 172 SH SOLE 1 172 0 0
AVON PRODUCTS INC COM 054303102 60 1400 SH SOLE 1 1400 0 0
AXA-UAP ADR 054536107 6 236 SH SOLE 1 236 0 0
BASF AG ADR 055262505 23 330 SH SOLE 1 0 0 330
BCE INC 05534B109 15 620 SH SOLE 1 0 0 620
BEI TECHNOLOGY CORP 05538P104 3 140 SH SOLE 1 0 0 140
BJ SERVICES CO 055482103 283 5471 SH SOLE 1 313 0 5158
BP AMOCO PLC SPONSORED ADR 055622104 476 7632 SH SOLE 1 7213 0 419
BP AMOCO PLC SPONSORED ADR 055622104 237 3810 SH DEFINED 1 3810 0 0
BMC SOFTWARE 055921100 5 359 SH SOLE 1 296 0 63
BALDOR ELEC CO COM 057741100 36781 1425627 SH DEFINED 1 1425627 0 0
BANCORPSOUTH INC 059692103 23813 1154334 SH SOLE 1 891671 261663 1000
BANCORPSOUTH INC 059692103 2483 120379 SH DEFINED 1 117450 2592 337
BANK OF AMERICA CORP NEW COM 060505104 841 19078 SH SOLE 1 12922 0 6156
BANK OF AMERICA CORP NEW COM 060505104 26 600 SH DEFINED 1 600 0 0
BANK OF THE OZARKS, INC 063904106 2927 92200 SH DEFINED 1 92200 0 0
BANK OF NEW YORK 064057102 144 4970 SH SOLE 1 2850 0 2120
BAXTER INTL INC 071813109 67 2000 SH SOLE 1 2000 0 0
BAXTER INTL INC PFD 071813406 10 200 SH SOLE 1 200 0 0
BEAR STEARNS COS INC 073902108 115 1157 SH SOLE 1 1157 0 0
BED BATH & BEYOND 075896100 7 200 SH SOLE 1 200 0 0
BELLSOUTH CORP 079860102 665 25299 SH SOLE 1 21298 0 4001
BELLSOUTH CORP 079860102 70 2696 SH DEFINED 1 400 2296 0
BERKSHIRE HATHAWAY "A" 084670108 87 1 SH SOLE 1 1 0 0
BERKSHIRE HATHAWAY INC DEL CL B 084670207 8 3 SH DEFINED 1 3 0 0
BLACKROCK INVT QUALITY 09247D105 45 3000 SH SOLE 1 3000 0 0
MUNI TR INC
MF BLACKROCK INCOME TRUST 09247F100 17 2400 SH SOLE 1 2400 0 0
BLOCK H & R INC COM 093671105 4 80 SH SOLE 1 0 0 80
BOEING INC 097023105 64 1100 SH SOLE 1 500 0 600
BOSTON PROPERTIES INC 101121101 12 210 SH SOLE 1 0 0 210
BOSTON SCIENTIFIC 101137107 56 1916 SH SOLE 1 100 0 1816
BRINKER INTL INC 109641100 37 1048 SH SOLE 1 184 0 864
BRISTOL MYERS SQUIBB CO 110122108 368 14480 SH SOLE 1 14480 0 0
BRISTOL MYERS SQUIBB CO 110122108 50 2000 SH DEFINED 1 2000 0 0
BROADCOM CORP 111320107 5 200 SH SOLE 1 200 0 0
BROOKLINE BANCORP INC 11373M107 3 265 SH SOLE 1 265 0 0
CBRL GROUP INC COM 12489V106 37 915 SH SOLE 1 915 0 0
CIGNA CORPORATION 125509109 53 595 SH SOLE 1 98 0 497
CNET NETWORKS INC 12613R104 1 118 SH SOLE 1 118 0 0
CVS CORP DELAWARE 126650100 38 741 SH SOLE 1 137 0 604
CADBURY SCHWEPPES PLC ADR 127209302 77 1910 SH SOLE 1 1200 0 710
CADENCE DESIGN SYSTEMS INC 127387108 42 2873 SH SOLE 1 0 0 2873
CAL MAINE FOODS INC 128030202 3 500 SH SOLE 1 500 0 0
CALLAWAY GOLF CO 131193104 2 200 SH SOLE 1 0 0 200
CANON INC ADR REPSTG 138006309 19 370 SH SOLE 1 0 0 370
5 SHRS
CAPITAL ONE FINL CORP COM 14040H105 194 2600 SH SOLE 1 2600 0 0
CARAUSTAR INDUSTRIES, INC 140909102 4 320 SH SOLE 1 320 0 0
CARNIVAL CORP 143658300 52 1004 SH SOLE 1 193 0 811
CARTERS INC 146229109 17 430 SH SOLE 1 0 0 430
CATERPILLAR INC 149123101 9 100 SH SOLE 1 100 0 0
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
CELADON GROUP INC 150838100 5 300 SH SOLE 1 0 0 300
CENDANT CORP COM 151313103 687 33499 SH SOLE 1 33200 0 299
CENTERPOINT ENERGY INC 15189T107 6 500 SH SOLE 1 0 0 500
CENTURYTEL, INC 156700106 65 2000 SH SOLE 1 2000 0 0
CHEVRONTEXACO CORP 166764100 710 12179 SH SOLE 1 10166 0 2013
CHEVRONTEXACO CORP 166764100 131 2254 SH DEFINED 1 2254 0 0
CINERGY 172474108 3 75 SH SOLE 1 75 0 0
CISCO SYS INC 17275R102 902 50492 SH SOLE 1 32332 1650 16510
CISCO SYS INC 17275R102 17 1000 SH DEFINED 1 1000 0 0
CITIGROUP, INC 172967101 916 20394 SH SOLE 1 15547 0 4847
CITIGROUP, INC 172967101 346 7707 SH DEFINED 1 7707 0 0
CITIZENS HOLDING COMPANY 174715102 3273 158987 SH SOLE 1 158987 0 0
CLEAR CHANNEL 184502102 3 100 SH SOLE 1 100 0 0
COMMUNICATIONS
COCA COLA BOTTLING CO CONS COM 191098102 2 55 SH SOLE 1 55 0 0
COCA COLA CO 191216100 826 19837 SH SOLE 1 15317 0 4520
COCA COLA CO 191216100 258 6200 SH DEFINED 1 5800 0 400
COCA COLA ENTERPRISES INC COM 191219104 49 2400 SH SOLE 1 2400 0 0
COEUR D/ALEND MINES CORP COM 192108108 21 5750 SH SOLE 1 5750 0 0
IDAHO
COLGATE-PALMOLIVE CO 194162103 172 3312 SH SOLE 1 3312 0 0
COLGATE-PALMOLIVE CO 194162103 10 200 SH DEFINED 1 200 0 0
COMCAST CORP NEW CL A COM 20030N101 10 325 SH SOLE 1 325 0 0
COMCAST CORP NEW CL A COM 20030N101 13 401 SH DEFINED 1 0 401 0
COMPUTER ASSOC INTL INC COM 204912109 303 11200 SH SOLE 1 11200 0 0
COMPUTER SCIENCES COMMON 205363104 4 99 SH DEFINED 1 0 0 99
CORPORATION
COMSTOCK HOMEBUILDING COS 205684103 3 155 SH SOLE 1 0 0 155
CONAGRA FOODS INC COM 205887102 16 620 SH SOLE 1 250 0 370
CONEXANT SYS INC COM 207142100 0 176 SH SOLE 1 176 0 0
CONNETICS CORPORATION 208192104 8 345 SH SOLE 1 0 0 345
CONN'S INC 208242107 6 320 SH SOLE 1 0 0 320
CONN'S INC 208242107 15 800 SH DEFINED 1 800 0 0
CONOCO PHILLIPS 20825C104 641 5945 SH SOLE 1 4306 0 1639
CONSECO INC NEW 208464883 57 2832 SH SOLE 1 455 0 2377
CONSOLIDATED EDISON INC COM 209115104 33 800 SH SOLE 1 800 0 0
COOPER TIRE & RUBBER CO 216831107 296 16158 SH SOLE 1 15158 0 1000
COOPER TIRE & RUBBER CO 216831107 1 100 SH DEFINED 1 100 0 0
CORINTHIAN COLLEGES INC 218868107 4 255 SH SOLE 1 255 0 0
COSTCO WHOLESALE CORP 22160K105 148 3350 SH SOLE 1 945 0 2405
COVENTRY HEALTH CARE INC 222862104 7 110 SH SOLE 1 0 0 110
CREDIT SUISSE GROUP ADR 225401108 23 560 SH SOLE 1 60 0 500
CRESCENT REAL ESTATE COM 225756105 3 200 SH SOLE 1 200 0 0
EQUITIE
CROSS COUNTRY HEALTHCARE, 227483104 4 283 SH SOLE 1 283 0 0
INC
DNP SELECT INCOME FD INC 23325P104 11 1100 SH SOLE 1 1100 0 0
DTE ENERGY CO 233331107 12 270 SH SOLE 1 0 0 270
DEBT STRATEGIES FD INC 24276Q109 12 1950 SH SOLE 1 1950 0 0
DEERE & CO 244199105 100 1500 SH SOLE 1 1500 0 0
DELL INC 24702R101 930 24235 SH SOLE 1 16280 0 7955
DELPHI AUTO SYSTEMS 247126105 1 250 SH SOLE 1 250 0 0
DELTA & PINE LD CO COM 247357106 6 259 SH SOLE 1 259 0 0
DELTIC TIMBER INC 247850100 247 6324 SH SOLE 1 6324 0 0
DELTIC TIMBER INC 247850100 25231 645471 SH DEFINED 1 242423 403048 0
DELUXE CORP 248019101 11 285 SH SOLE 1 0 0 285
DIAGEO P L C SPON ADR NEW 25243Q205 31 560 SH SOLE 1 60 0 500
DIAMONDS TRUST FUND 252787106 10 100 SH SOLE 1 100 0 0
DIGITAS INC 25388K104 2 275 SH SOLE 1 0 0 275
DIRECTTV GROUP INC 25459L106 46 3248 SH SOLE 1 358 0 2890
WALT DISNEY CO 254687106 532 18545 SH SOLE 1 11421 0 7124
DOW CHEMICAL CO 260543103 129 2605 SH SOLE 1 2350 0 255
DOW CHEMICAL CO 260543103 24 483 SH DEFINED 1 483 0 0
DREYFUS STRATEGIC 261932107 0 9 SOLE 1 9 0 0
MUNICIPALS INC
DU PONT EI D NEMOURS 263534109 269 5269 SH SOLE 1 2540 0 2729
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
& CO
DUKE ENERGY CORP COM 264399106 54 1936 SH SOLE 1 1936 0 0
DUKE REALTY CORP 264411505 10 345 SH SOLE 1 0 0 345
DYCOM INDUSTRIES INC 267475101 3 135 SH SOLE 1 0 0 135
E-LOAN INC 26861P107 2 1000 SH SOLE 1 1000 0 0
EMC CORP 268648102 52 4250 SH SOLE 1 3900 350 0
EMC CORP 268648102 46 3800 SH DEFINED 1 3800 0 0
ENI S P A SPONSORED ADR 26874R108 22 170 SH SOLE 1 0 0 170
E TRADE FINANCIAL CORP 269246104 48 4000 SH SOLE 1 4000 0 0
EVCI CAREER COLLEGES 26926P100 2 375 SH SOLE 1 0 0 375
HOLDING
EAGLE HOSPITALITY 26959T102 2 260 SH SOLE 1 260 0 0
PROPERTIES
EASTGROUP PROPERTIES INC 277276101 15 400 SH SOLE 1 400 0 0
EASTMAN KODAK CO 277461109 32 1000 SH SOLE 1 1000 0 0
EATON CORP COM 278058102 485 7429 SH SOLE 1 2865 0 4564
EBAY INC 278642103 106 2846 SH SOLE 1 466 0 2380
ECHOSTAR COMMUN 278762109 11 400 SH SOLE 1 400 0 0
EDWARDS LIFESCIENCES CORP 28176E108 10 240 SH SOLE 1 240 0 0
EL PASO CORPORATION 28336L109 1 166 SH SOLE 1 166 0 0
ELAN CORP PLC ADR 284131208 0 100 SH SOLE 1 100 0 0
ELECTRONIC ARTS INC 285512109 390 7536 SH SOLE 1 258 0 7278
EMERSON ELECTRIC CO 291011104 90 1400 SH SOLE 1 1400 0 0
ENCANA CORP-CAD 292505104 16 240 SH SOLE 1 0 0 240
ENCORE WIRE CORP COM 292562105 325 31948 SH SOLE 1 1348 0 30600
ENDESA SA SPONSORED ADR 29258N107 15 670 SH SOLE 1 0 0 670
ENEL SOCIETA PER ARZION ADR 29265W108 19 400 SH SOLE 1 40 0 360
ENERPLUS RESOURCE FD 29274D604 50 1400 SH SOLE 1 1400 0 0
ENTERGY CORP 29364G103 330 4678 SH SOLE 1 1678 0 3000
ENTERGY CORP 29364G103 41 593 SH DEFINED 1 593 0 0
EPICOR SOFTWARE CORP 29426L108 5 400 SH SOLE 1 0 0 400
EQUITY INNS, INC 294703103 4 400 SH SOLE 1 0 0 400
EQUITY INNS, INC 294703103 16 1500 SH DEFINED 1 1500 0 0
ERICSSON (LM) TELE CO ADR (NEW) 294821608 2 90 SH SOLE 1 90 0 0
ESCO TECHNOLOGIES INC 296315104 5 70 SH SOLE 1 0 0 70
EXELON CORP 30161N101 27 600 SH DEFINED 1 600 0 0
EXPEDITORS INTL WASH INC COM 302130109 127 2376 SH SOLE 1 381 0 1995
EXXON MOBIL CORP 30231G102 6528 109564 SH SOLE 1 104209 0 5355
EXXON MOBIL CORP 30231G102 1586 26626 SH DEFINED 1 17226 8600 800
FPL GROUP INC 302571104 8 222 SH SOLE 1 0 0 222
FNMA COM 313586109 3 65 SH SOLE 1 0 0 65
FEDEX CORPORATION 31428X106 103 1100 SH SOLE 1 1100 0 0
FIFTH THIRD BANCORP 316773100 52 1228 SH SOLE 1 0 0 1228
FIRST CASH FINANCIAL SVC 31942D107 4 195 SH SOLE 1 0 0 195
INC
FIRST DATA CORP COM 319963104 372 9479 SH SOLE 1 552 0 8927
FIRST HORIZON NATIONAL 320517105 3 82 SH SOLE 1 82 0 0
FIRST M & F CORP 320744105 53 1578 SH SOLE 1 1293 285 0
FIRSTMERIT CORP 337915102 215 8069 SH SOLE 1 8069 0 0
FIRST ENERGY CORP COMMON 337932107 192 4600 SH SOLE 1 4600 0 0
FORD MOTOR COMPANY COMMON 345370860 17 1518 SH SOLE 1 660 0 858
FORD MOTOR COMPANY COMMON 345370860 7 700 SH DEFINED 1 700 0 0
FORRESTER RESEARCH INC 346563109 3 259 SH SOLE 1 259 0 0
40/86 STRATEGIC INCOME 349739102 8 866 SH SOLE 1 866 0 0
FUND
FOX ENTERTAINMENT GROUP 35138T107 26 731 SH SOLE 1 672 0 59
INC
FREESCALE SEMICONDUCTOR 35687M206 4 283 SH SOLE 1 283 0 0
FREESCALE SEMICONDUCTOR 35687M206 0 33 SH DEFINED 1 33 0 0
FUJI PHOTO NEW ADR 359586302 31 870 SH SOLE 1 0 0 870
FULTON FINANCIAL CORP - PA 360271100 5 260 SH SOLE 1 260 0 0
GAP INC DEL COM 364760108 4 187 SH SOLE 1 0 0 187
GENERAL ELECTRIC CO 369604103 2484 68911 SH SOLE 1 68088 0 823
GENERAL ELECTRIC CO 369604103 302 8400 SH DEFINED 1 8400 0 0
GENERAL MLS INC COM 370334104 9 200 SH SOLE 1 200 0 0
GEN MTR CORP 370442105 32 1113 SH SOLE 1 553 0 560
GENLYTE GROUP INC 372302109 5 65 SH SOLE 1 0 0 65
GILLETTE CO 375766102 377 7486 SH SOLE 1 5071 0 2415
GILLETTE CO 375766102 55 1095 SH DEFINED 1 1095 0 0
GLAXOSMITHKLINE PLC ADR 37733W105 118 2571 SH SOLE 1 439 0 2132
GOLDMAN SACHS GROUP 38141G104 10 95 SH SOLE 1 0 0 95
GOODYEAR TIRE & RUBBER 382550101 7 526 SH SOLE 1 526 0 0
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
GREAT LAKES CHEM CORP COM 390568103 8 250 SH DEFINED 1 250 0 0
GUIDANT CORP COM 401698105 139 1882 SH SOLE 1 1882 0 0
HCA INC. 404119109 85 1592 SH SOLE 1 412 0 1180
HCC INSURANCE HOLDINGS, 404132102 5 155 SH SOLE 1 155 0 0
INC
HRPT PROPERTIES TRST COM SBI 40426W101 33 2830 SH SOLE 1 2830 0 0
HSBC HLDGS PLC SPONSORED ADR 404280406 12 160 SH SOLE 1 0 0 160
HAEMONETICS CORP 405024100 12 285 SH SOLE 1 0 0 285
HALLIBURTON CO COM 406216101 521 12069 SH SOLE 1 6075 0 5994
HANCOCK FABRICS 409900107 11 1600 SH SOLE 1 1600 0 0
HANCOCK HLDG CO CAP VALUE 410120109 50 1550 SH SOLE 1 1550 0 0
JOHN HANCOCK PFD INC II 41013X106 9 400 SH SOLE 1 400 0 0
HARLEY DAVIDSON INC COM 412822108 176 3050 SH SOLE 1 507 0 2543
HARRIS CORP 413875105 45 1400 SH SOLE 1 1400 0 0
HARTFORD FNCL SV GRP INC COM 416515104 10 147 SH SOLE 1 0 0 147
HAWAIIAN ELEC INDS INC 419870100 28 1130 SH DEFINED 1 1130 0 0
HEADWATERS INC 42210P102 12 385 SH SOLE 1 185 0 200
HEALTH CARE REIT INC 42217K106 1 32 SH SOLE 1 0 0 32
HEINZ H J CO COM 423074103 10 273 SH SOLE 1 273 0 0
HEWLETT PACKARD CO 428236103 125 5728 SH SOLE 1 4792 0 936
HEWLETT PACKARD CO 428236103 8 400 SH DEFINED 1 400 0 0
HIBERNIA CORP 428656102 8648 270250 SH SOLE 1 268350 0 1900
HIBERNIA CORP 428656102 28 900 SH DEFINED 1 900 0 0
HIGH INCOME OPPORTUNITY FD 42967Q105 15 2500 SH SOLE 1 2500 0 0
HILB ROGAL & HOBBS COMPANY 431294107 3 102 SH SOLE 1 102 0 0
HITACHI LTD 433578507 9 160 SH SOLE 1 0 0 160
HOLLYWOOD MEDIA CORP 436233100 3 755 SH SOLE 1 0 0 755
HOME DEPOT 437076102 852 22289 SH SOLE 1 14635 0 7654
HOME DEPOT 437076102 58 1532 SH DEFINED 1 1532 0 0
HONEYWELL INTL INC 438516106 26 704 SH SOLE 1 704 0 0
HOSPITALITY PROPERTIES 44106M102 1 26 SH SOLE 1 0 0 26
HOSPIRA, INC 441060100 14 450 SH DEFINED 1 50 400 0
HUBBELL INC CL B 443510201 51 1000 SH SOLE 1 0 0 1000
HUMANA INC 444859102 42 1319 SH SOLE 1 324 0 995
JB HUNT TRANSPORT SVC INC 445658107 7 175 SH SOLE 1 0 0 175
ING PRIME RATE TR SH BEN 44977W106 50 6907 SH SOLE 1 6907 0 0
INT
ILLINOIS TOOL WORKS INC 452308109 55 621 SH SOLE 1 148 0 473
IMATION CORP 45245A107 5 145 SH SOLE 1 145 0 0
ING GROEP N V 456837103 68 2282 SH SOLE 1 311 0 1971
INPUT/OUTPUT INC 457652105 3 590 SH SOLE 1 590 0 0
INSITUFORM TECHNOLOGIES CL A 457667103 7 500 SH SOLE 1 500 0 0
INC
INTEL CORP CAP 458140100 1104 47552 SH SOLE 1 30912 0 16640
INTEL CORP CAP 458140100 83 3600 SH DEFINED 1 3600 0 0
IBM CORP 459200101 869 9514 SH SOLE 1 6151 0 3363
IBM CORP 459200101 384 4203 SH DEFINED 1 4203 0 0
INTERNATIONAL DISPLAYWORKS 459412102 3 350 SH SOLE 1 0 0 350
INTL PAPER CO 460146103 11 300 SH SOLE 1 300 0 0
INTL PAPER CO 460146103 33 900 SH DEFINED 1 0 900 0
ISHARES S& P 500/BARRA 464287408 54 900 SH SOLE 1 900 0 0
VALUE
ISHARES TR RUSSELL 2000 464287630 127 690 SH SOLE 1 95 0 595
VALUE INDEX FD
IXYS CORP 46600W106 5 500 SH SOLE 1 0 0 500
JDS UNIPHASE CORP COM 46612J101 0 120 SH SOLE 1 120 0 0
JLG INDUSTRIES INC 466210101 7 365 SH SOLE 1 0 0 365
JPMORGAN CHASE & CO COM 46625H100 633 18307 SH SOLE 1 12166 0 6141
JPMORGAN CHASE & CO COM 46625H100 119 3456 SH DEFINED 1 1500 1956 0
JACOBS ENGINEERING GROUP 469814107 39 759 SH SOLE 1 180 0 579
INC
JEFFERSON PILOT 475070108 11 230 SH SOLE 1 0 0 230
CORPORATION
JOHNSON & JOHNSON 478160104 2793 41601 SH SOLE 1 35967 0 5634
JOHNSON & JOHNSON 478160104 636 9475 SH DEFINED 1 7000 1200 1275
JOHNSON CONTROLS INC 478366107 249 4468 SH SOLE 1 2750 0 1718
KLA TENCOR CORP 482480100 4 100 SH SOLE 1 100 0 0
KT CORP SPONSORED 48268K101 17 820 SH SOLE 1 0 0 820
ADR
KERR-MCGEE CORPORATION INC 492386107 16 210 SH SOLE 1 0 0 210
KEYCORP NEW 493267108 60 1855 SH SOLE 1 1100 0 755
KEYSPAN CORP COM 49337W100 11 285 SH SOLE 1 0 0 285
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
KIMBERLY-CLARK CORP 494368103 17 265 SH SOLE 1 100 0 165
KIMBERLY-CLARK CORP 494368103 16 250 SH DEFINED 1 250 0 0
KINDER MORGAN ENERGY 494550106 10 232 SH SOLE 1 232 0 0
PARTNERS, L.P
KONINKLIJKE PHLPS ELECTRS ADR NEW 500472303 11 410 SH SOLE 1 0 0 410
N V SP
KOREA ELECTRIC POWER ADR 500631106 8 650 SH SOLE 1 0 0 650
LTX CORP 502392103 2 500 SH SOLE 1 0 0 500
ESTEE LAUDER CO 518439104 26 600 SH DEFINED 1 600 0 0
LEHMAN BROTHERS HOLDINGS COM 524908100 297 3160 SH SOLE 1 1810 0 1350
LEVEL 3 COMMUNICATIONS INC 52729N100 12 6037 SH SOLE 1 6037 0 0
LEXMARK INTL NEW CL A 529771107 112 1408 SH SOLE 1 233 0 1175
THE LIBERTY CORPORATION 530370105 77 1900 SH SOLE 1 1900 0 0
LIGAND PHARMACEUTICALS INC CL B 53220K207 1 250 SH SOLE 1 250 0 0
ELI LILLY & CO 532457108 171 3300 SH SOLE 1 3300 0 0
ELI LILLY & CO 532457108 78 1500 SH DEFINED 1 1500 0 0
LIMITED BRANDS, INC 532716107 75 3116 SH SOLE 1 358 0 2758
LINCOLN NATIONAL CORP IND 534187109 11 265 SH SOLE 1 0 0 265
LLOYDS TSB GROUP PLC ADR 539439109 10 300 SH SOLE 1 300 0 0
LOCKHEED MARTIN CORP 539830109 607 9955 SH SOLE 1 5925 0 4030
LOWES CO INC 548661107 371 6516 SH SOLE 1 4726 0 1790
LUCENT TECHNOLOGIES 549463107 12 4724 SH SOLE 1 3824 0 900
LUCENT TECHNOLOGIES 549463107 2 1000 SH DEFINED 1 1000 0 0
M & T BANK CORP 55261F104 204 2000 SH SOLE 1 2000 0 0
MBNA CORP 55262L100 4 193 SH SOLE 1 0 0 193
MFS INTER INCOME TR SH BEN INT 55273C107 6 1000 SH SOLE 1 1000 0 0
MAGELLAN MIDSTREAM 559080106 12 200 SH SOLE 1 200 0 0
PARTNERS LP
MANULIFE FINANCIAL CORP 56501R106 1800 37586 SH SOLE 1 37586 0 0
MAPINFO CORP 565105103 3 250 SH SOLE 1 0 0 250
MARATHON OIL CORP 565849106 13 280 SH SOLE 1 0 0 280
MARTEN TRANSPORT LTD 573075108 7 340 SH SOLE 1 0 0 340
MASCO CORPORATION 574599106 240 6928 SH SOLE 1 3715 0 3213
MATRIXX INITIATIVES INC 57685L105 4 400 SH SOLE 1 0 0 400
MATTELL INC 577081102 54 2531 SH SOLE 1 509 0 2022
MAXIM INTEGRATED PRODUCTS 57772K101 97 2396 SH SOLE 1 356 0 2040
INC
MAY DEPARTMENT STORES CO 577778103 28 775 SH SOLE 1 0 0 775
MCCORMICK & SCHMICKS 579793100 5 300 SH SOLE 1 0 0 300
SEAFOOD
MCDATA CORP CLASS A 580031201 0 73 SH DEFINED 1 73 0 0
MCDONALD'S CORP 580135101 571 18352 SH SOLE 1 11527 0 6825
MCKESSON CORP 58155Q103 251 6655 SH SOLE 1 3765 0 2890
MEADWESTVACO CORP 583334107 49 1547 SH SOLE 1 1547 0 0
MEDCO HEALTH SOLUTIONS INC 58405U102 17 361 SH SOLE 1 361 0 0
MEDICAL ACTION INDUSTRIES 58449L100 1 100 SH SOLE 1 0 0 100
INC
MEDIMMUNE INC COM 584699102 1 75 SH SOLE 1 75 0 0
MEDTRONIC INC COM 585055106 23 460 SH SOLE 1 460 0 0
MELLON FINL CORP 58551A108 31 1105 SH SOLE 1 800 0 305
MERCK & CO INC 589331107 250 7742 SH SOLE 1 7062 0 680
MERISTAR HOSPITALITY CORP 58984Y103 4 625 SH SOLE 1 625 0 0
MERIT MED SYS INC 589889104 3 300 SH SOLE 1 0 0 300
MERRILL LYNCH & CO, INC 590188108 18 320 SH SOLE 1 320 0 0
METLIFE INC COM 59156R108 39 1022 SH SOLE 1 1022 0 0
MICROS SYSTEMS INC 594901100 8 240 SH SOLE 1 0 0 240
MICROSOFT CORP 594918104 560 23216 SH SOLE 1 21970 0 1246
MICROSOFT CORP 594918104 19 800 SH DEFINED 1 800 0 0
MICROSEMI CORP 595137100 11 735 SH SOLE 1 0 0 735
MID-AMERICA APARTMENT 59522J103 36 1000 SH DEFINED 1 1000 0 0
CMNTYS
MIDAS GROUP INC 595626102 15 666 SH SOLE 1 666 0 0
MILLEA HLDGS INC ADR 60032R106 11 160 SH SOLE 1 0 0 160
MILLER HERMAN INC COM 600544100 28 950 SH SOLE 1 950 0 0
MINDSPEED TECNOLOGIES 602682106 0 58 SH SOLE 1 58 0 0
MONEYGRAM INTERNATIONAL 60935Y109 6 348 SH SOLE 1 348 0 0
INC
MONSANTO CO. (NEW) 61166W101 12 187 SH SOLE 1 187 0 0
MOODYS CORP 615369105 171 2117 SH SOLE 1 602 0 1515
MORGAN STANLEY 617446448 508 8876 SH SOLE 1 5698 0 3178
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER -----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
DEAN WITTER
DISCOVER & CO
MORGAN STANLEY DEAN 617446448 14 260 SH DEFINED 1 260 0 0
WITTER DISCOVER & CO
THE MOSIAIC COMPANY COMMON STOCK 61945A107 0 15 SH SOLE 1 15 0 0
MOTOROLA INC 620076109 43 2896 SH SOLE 1 2578 0 318
MOTOROLA INC 620076109 4 300 SH DEFINED 1 300 0 0
MUNICIPAL MORTGAGE & 62624B101 97 4000 SH SOLE 1 4000 0 0
EQUITY LLC - GROWTH SH
MUNIVEST FD INC COM 626295109 45 5000 SOLE 1 5000 0 0
MUNIYIELD INSURED 62630E107 106 7500 DEFINED 1 7500 0 0
MURPHY OIL CORP COM 626717102 7080 71713 SH SOLE 1 71713 0 0
MURPHY OIL CORP COM 626717102 459124 4650306 SH DEFINED 1 2068366 2581940 0
MYLAN LABORATORIES INC 628530107 33 1908 SH SOLE 1 1908 0 0
NBC CAP CORP 628729105 116 4833 SH SOLE 1 4833 0 0
NMS COMMUNICATIONS CORP 629248105 1 450 SH SOLE 1 0 0 450
NANOPHASE TECHNOLOGY COPR COM 630079101 6 1200 SH SOLE 1 1200 0 0
NAPSTER INC 630797108 0 65 SH SOLE 1 65 0 0
NASDAQ 100 TRUST 631100104 29 800 SH SOLE 1 800 0 0
NATIONAL AUSTRALIA BK LTD ADR 632525408 21 200 SH SOLE 1 0 0 200
NAUTILUS GROUP, INC. 63910B102 4 200 SH SOLE 1 0 0 200
NAVARRE CORP 639208107 4 600 SH SOLE 1 0 0 600
NEIGHBORCARE INC 64015Y104 1 35 SH SOLE 1 0 0 35
NET BANK INC 640933107 4 510 SH SOLE 1 510 0 0
NETGURU INC 64111K107 2 2136 SH SOLE 1 2136 0 0
NEWPARK RESOURCES, INC 651718504 0 8 SH SOLE 1 8 0 0
NEWS CORP 65248E104 42 2525 SH SOLE 1 200 0 2325
NEWS CORP CL B NEW 65248E203 4 265 SH SOLE 1 0 0 265
NIKE INC CLASS B 654106103 58 700 SH SOLE 1 700 0 0
NIPPON TEL & TEL SPON ADR 654624105 21 972 SH SOLE 1 102 0 870
NISOURCE INC 65473P105 6 300 SH SOLE 1 0 0 300
NOKIA CORP SPND ADR 654902204 46 3020 SH SOLE 1 1100 0 1920
NOMURA HOLDINGS INC ADR 65535H208 14 1019 SH SOLE 1 109 0 910
NORFOLK SO CORP 655844108 53 1434 SH SOLE 1 1434 0 0
NORTEL NETWORK CORP NEW 656568102 17 6300 SH SOLE 1 6300 0 0
NORTHERN TRUST COMPANY NTRS 665859104 77 1780 SH SOLE 1 1780 0 0
NORTHERN TRUST COMPANY NTRS 665859104 156 3600 SH DEFINED 1 3600 0 0
NOVARTIS AG SPONSORE 66987V109 37 793 SH SOLE 1 83 0 710
D ADR
NUVEEN INSD PREMIUM 6706D8104 4 338 SOLE 1 338 0 0
INCOME MUNI FD
NUVEEN PREMIUM INCOME MUN FUND 4 6706K4105 24 2000 DEFINED 1 2000 0 0
OKLAHOMA GAS & ELEC 670837103 26 1000 SH SOLE 1 1000 0 0
ENERGY CORP
NUVEEN QUALITY INCOME MUNI 670977107 6 500 SH SOLE 1 500 0 0
NUVEEN PREMIER INSURED 670987106 14 1000 DEFINED 1 1000 0 0
MUN INCOME FUND INC
NUVEEN PREMIER MUNICIPAL 670988104 21 1565 SOLE 1 1565 0 0
INC
OCCIDENTAL PETE COR DEL 674599105 49 700 SH SOLE 1 500 0 200
OCWEN FINANCIAL CORP 675746101 5 697 SH SOLE 1 697 0 0
OHIO CASUALTY CORP 677240103 5 235 SH SOLE 1 235 0 0
OLIN CORP 680665205 8 400 SH SOLE 1 400 0 0
OLIN CORP 680665205 3 166 SH DEFINED 1 166 0 0
OMNICOM GROUP 681919106 17 200 SH SOLE 1 200 0 0
OMNIVISION TECHNOLOGIES 682128103 6 440 SH SOLE 1 0 0 440
ORACLE SYSTEMS CORP 68389X105 199 16025 SH SOLE 1 9220 0 6805
ORANGE 685317109 2 350 SH SOLE 1 0 0 350
PNC BANK CORP 693475105 2 48 SH SOLE 1 0 0 48
PPG INDUSTRIES INC 693506107 5 78 SH SOLE 1 0 0 78
PACIFIC CAPITAL BANCORP 69404P101 3 101 SH SOLE 1 101 0 0
PACKAGING CORP AMER 695156109 1 48 SH SOLE 1 0 0 48
PACTIV COPR 695257105 72 3122 SH SOLE 1 1285 0 1837
PALMONE INC COM 69713P107 2 100 SH SOLE 1 100 0 0
PALMSOURCE INC 697154102 0 100 SH SOLE 1 100 0 0
PAR PHARMACEUTICAL 69888P106 5 170 SH SOLE 1 170 0 0
COMPANIES INC
PARKWAY PROPERTIES INC 70159Q104 9 200 SH SOLE 1 200 0 0
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER -----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
PATTERSON COMPANIES INC 703395103 508 10173 SH SOLE 1 350 0 9823
PAYCHEX INC 704326107 4 150 SH SOLE 1 150 0 0
PCCW LTD SONSORED ADR 70454G207 2 494 SH DEFINED 1 494 0 0
PEETS COFFEE & TEA INC 705560100 8 360 SH SOLE 1 0 0 360
PEOPLES HLDG CO COM 711148106 40 1300 SH SOLE 1 1300 0 0
PEPSIAMERICAS INC 71343P200 90 4000 SH SOLE 1 4000 0 0
PEPSICO INC COM 713448108 1356 25586 SH SOLE 1 25306 0 280
PEPSICO INC COM 713448108 112 2130 SH DEFINED 1 1030 1100 0
PETROCHINA CO LTD 71646E100 9 150 SH SOLE 1 0 0 150
PETROBRAS 71654V408 12 290 SH SOLE 1 0 0 290
PFIZER INC 717081103 1428 54372 SH SOLE 1 39084 0 15288
PFIZER INC 717081103 109 4185 SH DEFINED 1 3485 700 0
PILGRIMS PRIDE CORP COM 721467108 24 680 SH SOLE 1 680 0 0
PIMCO MUNI INCOME FUND III 72201A103 19 1333 SOLE 1 1333 0 0
PINNACLE WEST CAP CORP 723484101 344 8105 SH SOLE 1 4560 0 3545
PITNEY BOWES INC COM 724479100 38 846 SH SOLE 1 139 0 707
PLACER DOME INC 725906101 2 170 SH SOLE 1 170 0 0
PLUM CREEK TIMBER CO INC 729251108 249 6987 SH SOLE 1 6987 0 0
PORTUGAL TELECOM ADR 737273102 14 1200 SH SOLE 1 0 0 1200
POST PROPERTIES INC 737464107 2 80 SH SOLE 1 80 0 0
POWER-ONE INC 739308104 5 1170 SH SOLE 1 0 0 1170
POWER TECHNOLOGIES 739363109 5 665 SH SOLE 1 665 0 0
PRINCIPAL FINANCIAL GROUP 74251V102 34 896 SH SOLE 1 896 0 0
PROCTER & GAMBLE CO COM 742718109 1359 25642 SH SOLE 1 23727 0 1915
PROCTER & GAMBLE CO COM 742718109 371 7000 SH DEFINED 1 7000 0 0
PROVIDER COMMERCE INC 74373W103 3 110 SH SOLE 1 0 0 110
PROVIDENCE SYC CORP 743815102 7 340 SH SOLE 1 0 0 340
PROVIDENT BANKSHARES, INC 743859100 3 115 SH SOLE 1 115 0 0
PUBLIC SVC ENTERPRISE 744573106 7 145 SH SOLE 1 0 0 145
GROUP INC
PUTNAM MANAGED MUNICIPAL 746823103 3 500 SOLE 1 0 0 500
INCOME TRUST
QLOGIC CORP COM 747277101 20 500 SH SOLE 1 500 0 0
QWEST COMMUNICATIONS INTL COM 749121109 4 1094 SH SOLE 1 1094 0 0
INC
CEF RMK HIGH INCOME FUND 74963B105 16 1008 SH SOLE 1 1008 0 0
RAYTHEON CO NEW 755111507 1 31 SH SOLE 1 31 0 0
REED ELSEVIER PLC SPON ADR 758205108 32 790 SH SOLE 1 0 0 790
REGENERON PHARACEUTICALS COM 75886F107 2 500 SH SOLE 1 500 0 0
INC
REGIONS FINANCIAL CORP NEW 7591EP100 1582 48844 SH SOLE 1 48144 0 700
REGIONS FINANCIAL CORP NEW 7591EP100 71 2205 SH DEFINED 1 0 2205 0
RELIANT ENERGY INC 75952B105 4 394 SH SOLE 1 0 0 394
RELIANT ENERGY INC 75952B105 19 1712 SH DEFINED 1 1712 0 0
REPSOL YPF ADR 76026T205 14 560 SH SOLE 1 0 0 560
REYNOLDS AMERICAN INC 761713106 13 165 SH SOLE 1 0 0 165
RICHARDSON ELECTRONICS LTD 763165107 2 265 SH SOLE 1 0 0 265
ROCKWELL AUTOMATION, INC 773903109 10 177 SH SOLE 1 177 0 0
ROCKWELL COLLINS INC 774341101 8 177 SH SOLE 1 177 0 0
ROHM & HAAS CO COM 775371107 17 361 SH SOLE 1 361 0 0
ROWAN COMPANIES INC 779382100 3 120 SH SOLE 1 120 0 0
ROWE COMPANIES 779528108 2 600 SH SOLE 1 0 0 600
ROYAL DUTCH PETE CO NY 780257804 122 2043 SH SOLE 1 2043 0 0
REG GLD1.25
ROYAL DUTCH PETE CO NY 780257804 245 4096 SH DEFINED 1 4096 0 0
REG GLD1.25
RUBIO'S RESTAURANTS INC 78116B102 3 350 SH SOLE 1 0 0 350
RUBY TUESDAY INC 781182100 25 1060 SH DEFINED 1 430 0 630
RUSH ENTERPRISES INC 781846209 8 565 SH SOLE 1 0 0 565
SBC COMMUNICATIONS, INC 78387G103 963 40673 SH SOLE 1 29037 0 11636
SBC COMMUNICATIONS, INC 78387G103 63 2677 SH DEFINED 1 780 1897 0
ST PAUL TRAVELERS CO.'S 792860108 79 2168 SH SOLE 1 394 0 1774
INC
SAN JUAN BASIN ROYALTY TR COM 798241105 25 700 SH SOLE 1 700 0 0
UNIT
SANMINA CORP 800907107 1 306 SH SOLE 1 306 0 0
SARA LEE CORP COM 803111103 44 2000 SH SOLE 1 2000 0 0
SCANA CORP NEW 80589M102 8 222 SH SOLE 1 222 0 0
**VOTING AUTHORITY**
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER -----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
-------------------------- ------------ --------- ------- ------- --- ---- ---------- -------- ------- ------ -----
SCHERING PLOUGH CORP COM 806605101 300 16584 SH SOLE 1 16584 0 0
SCHLUMBERGER LTD COM 806857108 49 700 SH SOLE 1 700 0 0
SCOTTISH POWER PLC SP ADR 81013T705 14 450 SH SOLE 1 0 0 450
SCRIPPS EW INC NEW CL A 811054204 29 600 SH SOLE 1 600 0 0
SELIGMAN SELECT MUN FD INC 816344105 12 1250 SH SOLE 1 1250 0 0
SEMPRA ENERGY COM 816851109 12 310 SH SOLE 1 0 0 310
SERACARE LIFE SCIENCES INC 81747Q100 2 215 SH SOLE 1 0 0 215
SERVICEMASTER COMPANY COM 81760N109 102 7593 SH SOLE 1 7593 0 0
SHELL TRANS & TRADING PLC NEW 822703609 10 200 SH SOLE 1 0 0 200
NEW YRK SH
SHELL TRANS & TRADING PLC NEW 822703609 97 1800 SH DEFINED 1 1800 0 0
NEW YRK SH
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 327 13200 SH SOLE 1 13200 0 0
SIMMONS 1ST NATL CORP CL A $1 PAR 828730200 12 500 SH DEFINED 1 500 0 0
SKYWORKS SOLUTIONS 83088M102 1 166 SH SOLE 1 166 0 0
SMUCKER J M CO 832696405 0 3 SH SOLE 1 3 0 0
SNAP ON INC 833034101 4 145 SH SOLE 1 145 0 0
SONIC WALL INC 835470105 3 775 SH SOLE 1 775 0 0
SONY CORP 835699307 14 370 SH SOLE 1 0 0 370
SONY CORP 835699307 40 1000 SH DEFINED 1 1000 0 0
SOUTHERN CO COM 842587107 281 8837 SH SOLE 1 8837 0 0
SOUTHERN CO COM 842587107 140 4426 SH DEFINED 1 4426 0 0
SPINNAKER EXPLORATION CO 84855W109 4 115 SH SOLE 1 115 0 0
SPORTS AUTHORITY INC 84917U109 6 225 SH SOLE 1 225 0 0
SPRINT CORP COM FON 852061100 1274 56000 SH SOLE 1 56000 0 0
STANLEY WORKS 854616109 13 290 SH SOLE 1 0 0 290
STARBUCKS CORP 855244109 214 4159 SH SOLE 1 744 0 3415
STATOIL ASA SPON ADR 85771P102 16 950 SH SOLE 1 0 0 950
STORA ENSO OYJ ADR 86210M106 22 1580 SH SOLE 1 0 0 1580
STRATASYS INC 862685104 6 245 SH SOLE 1 0 0 245
SUN LIFE FINANCIAL 866796105 200 6161 SH SOLE 1 6161 0 0
SUNGARD DATA SYSTEMS 867363103 6 195 SH SOLE 1 0 0 195
SUNOCO INC 86764P109 20 200 SH SOLE 1 200 0 0
SUNTRUST BANKS INC COM 867914103 142 1980 SH SOLE 1 1980 0 0
SUPERIOR ENERGY SERVICES 868157108 2 170 SH SOLE 1 0 0 170
INC
SYNOVUS FINL CORP 87161C105 31 1125 SH SOLE 1 1125 0 0
SYSCO CORP 871829107 30 863 SH SOLE 1 863 0 0
TECO ENERGY INC COM 872375100 3 200 SH SOLE 1 200 0 0
TXU CORP 873168108 119 1500 SH SOLE 1 0 0 1500
TAIWAN SEMICONDUCTOR MFG ADR'S 874039100 12 1480 SH SOLE 1 0 0 1480
CO LTD
TALK AMERICA HOLDING INC NEW 87426R202 3 475 SH SOLE 1 475 0 0
TARGET CORP 87612E106 131 2626 SH SOLE 1 1785 0 841
TARGET CORP 87612E106 20 400 SH DEFINED 1 400 0 0
TELEFONOS DE MEXICO SA DE SPONS ADR 879403780 20 580 SH SOLE 1 0 0 580
CV
TELLABS INC DELAWARE 879664100 1 200 SH DEFINED 1 200 0 0
TEMPLE INLAND INC COM 879868107 65 900 SH SOLE 1 900 0 0
TEMPLETON DRAGON FD 88018T101 20 1227 SH SOLE 1 1227 0 0
TEMPLETON GLOBAL INCOME 880198106 23 2730 SH SOLE 1 2730 0 0
FUND
TERAYON COMMUNICATIONS 880775101 0 200 SH SOLE 1 200 0 0
TERRA INDUSTRIES INC 880915103 0 15 SH SOLE 1 15 0 0
TEVA PHARMACEUTICAL IND ADR'S 881624209 109 3548 SH SOLE 1 428 0 3120
TESSERA TECHNOLOGIES INC 88164L100 5 125 SH SOLE 1 0 0 125
TEXAS INSTRUMENTS 882508104 44 1750 SH SOLE 1 1750 0 0
THORNBURG MORTGAGE INC 885218107 8 300 SH SOLE 1 300 0 0
3 COM CORP 885535104 2 691 SH SOLE 1 691 0 0
3M CO 88579Y101 681 7957 SH SOLE 1 4847 0 3110
TIFFANY & CO NEW 886547108 75 2200 SH SOLE 1 2200 0 0
TIME WARNER INC 887317105 426 24295 SH SOLE 1 23920 0 375
TOTAL FINA ELF S.A. ADR 89151E109 23 201 SH SOLE 1 21 0 180
TOYOTA MOTOR CORP ADR NEW 892331307 18 245 SH SOLE 1 25 0 220
TPG N V SPONS ADR 892339102 21 740 SH SOLE 1 0 0 740
TRADESTATION GROUP INC 89267P105 6 1000 SH SOLE 1 0 0 1000
TRIAD HOSPS INC 89579K109 1 30 SH SOLE 1 30 0 0
TRIBUNE COMPANY 896047107 47 1200 SH SOLE 1 1200 0 0
** VOTING AUTHORITY **
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
----------------------- ------------- --------- ------- ------- --- ---- ---------- -------- ----- ------ -------
TRUSTMARK CORP COM 898402102 472 16310 SH SOLE 1 16310 0 0
TYCO INTL LTD NEW COM 902124106 20 609 SH SOLE 1 350 0 259
TYSON FOODS INC CL A 902494103 12 750 SH SOLE 1 0 0 750
USA TRUCK INC 902925106 952 41498 SH SOLE 1 41498 0 0
RESTRICTED
US BANCORP DEL NEW 902973304 58 2040 SH SOLE 1 323 0 1717
U S HOME SYS INC 90335C100 1 330 SH SOLE 1 0 0 330
LTRATECH STEPPER INC 904034105 5 345 SH SOLE 1 345 0 0
UNION PACIFIC CORP 907818108 13 200 SH SOLE 1 200 0 0
UNION PACIFIC CORP 907818108 264 3800 SH DEFINED 1 0 3800 0
UNITED UTILITIES PLC 91311Q105 1 59 SH SOLE 1 0 0 59
SP
UNIVERSAL TRUCKLOAD 91388P105 11 535 SH SOLE 1 0 0 535
SVCS INC
UNOCAL CORP COM 915289102 9 156 SH SOLE 1 156 0 0
UPM KYMMENE CORP SPN ADR 915436109 13 590 SH SOLE 1 0 0 590
VF CORPORATION 918204108 12 215 SH SOLE 1 0 0 215
VALASSIS 918866104 5 165 SH SOLE 1 165 0 0
COMMUNICATIONS INC
VARIAN MEDICAL SYSTEMS 92220P105 91 2672 SH SOLE 1 382 0 2290
VARIAN SEMICONDUCTOR 922207105 12 320 SH SOLE 1 0 0 320
EQUIP
VERIZON COMMUNICATIONS 92343V104 629 17731 SH SOLE 1 11121 0 6610
VERIZON COMMUNICATIONS 92343V104 89 2517 SH DEFINED 1 1719 798 0
VIAD CORPORATION 92552R406 2 87 SH SOLE 1 87 0 0
VIACOM INC CL B 925524308 512 14728 SH SOLE 1 12369 0 2359
VIACOM INC CL B 925524308 11 325 SH DEFINED 1 325 0 0
VISTEON CORP 92839U107 0 10 SH SOLE 1 10 0 0
VITRAN CORP 92850E107 4 335 SH SOLE 1 0 0 335
VODAFONE GROUP PLC NEW 92857W100 99 3729 SH SOLE 1 3729 0 0
VODAFONE GROUP PLC NEW 92857W100 15 565 SH DEFINED 1 0 565 0
W H ENERGY SERVICES 92925E108 7 305 SH SOLE 1 0 0 305
WACHOVIA CORP 2ND NEW 929903102 664 13048 SH SOLE 1 10854 0 2194
WACHOVIA CORP 2ND NEW 929903102 25 500 SH DEFINED 1 500 0 0
WAL MART STORES INC COM 931142103 2151 42930 SH SOLE 1 36720 0 6210
WAL MART STORES INC COM 931142103 202 4036 SH DEFINED 1 1036 3000 0
WALGREEN CO COM 931422109 224 5059 SH SOLE 1 2274 0 2785
WASHINGTON MUTUAL INC 939322103 22 560 SH SOLE 1 0 0 560
WASTE MANAGEMENT INC NEW 94106L109 121 4209 SH SOLE 1 1465 0 2744
WASTE MANAGEMENT INC NEW 94106L109 0 1 SH DEFINED 1 0 0 1
WATSON WYATT & CO CLASS A 942712100 5 210 SH SOLE 1 210 0 0
HLDGS
WEBSTER FINANCIAL CORP 947890109 4 105 SH SOLE 1 105 0 0
WEINGARTEN RLTY INVS 948741103 77 2250 SH SOLE 1 2250 0 0
SH BEN INT
WELLS FARGO & CO. NEW 949746101 105 1757 SH SOLE 1 1455 0 302
WELLS FARGO & CO. NEW 949746101 11 200 SH DEFINED 1 200 0 0
WESTAR ENERGY INC 95709T100 8 379 SH SOLE 1 379 0 0
WEYERHAEUSER CO COM 962166104 34 500 SH SOLE 1 0 0 500
WHIRLPOOL CORP 963320106 25 380 SH SOLE 1 0 0 380
WHITNEY HOLDING CORP COMMON 966612103 89 2000 SH SOLE 1 2000 0 0
WITNESS SYSTEM INC 977424100 7 425 SH SOLE 1 0 0 425
WYETH 983024100 729 17292 SH SOLE 1 9766 0 7526
XM SATELLITE 983759101 790 25000 SH SOLE 1 25000 0 0
XCEL ENERGY INC 98389B100 2 154 SH SOLE 1 154 0 0
XILINX INC 983919101 2 100 SH SOLE 1 100 0 0
YANKEE CANDLE CO INC 984757104 6 215 SH SOLE 1 215 0 0
YUM BRANDS INC 988498101 99 1926 SH SOLE 1 1926 0 0
ZIMMER HLDGS INC 98956P102 107 1376 SH SOLE 1 226 0 1150
AFLAC INC 1055102 19 500 SH SOLE 0 0 500
AMR CORP DELAWARE COMMON 1765106 10 1000 SH SOLE 0 0 1000
STOCK
AT&T CORP COM NEW 1957505 11 600 SH SOLE 0 0 600
ABBOTT LABS COM 2824100 23 500 SH SOLE 0 0 500
ALCOA INC COM 13817101 2 73 SH SOLE 0 0 73
ALLIANT TECHSYSTEMS 18804104 15 210 SH SOLE 0 0 210
INC
ALLSTATE CORP 20002101 8 150 SH SOLE 0 0 150
ALLTEL CORP 20039103 12 225 SH SOLE 0 0 225
ALLTEL CORP CORP UNITS 20039822 3 50 SH SOLE 0 0 50
AMERICAN CAP COM 24937104 93 2950 SH SOLE 0 0 2950
STRATEGIES LTD
AMERICAN 26874107 5 99 SH SOLE 0 0 99
INTERNATIONAL GROUP
INC
AMGEN INC 31162100 51 890 SH SOLE 0 0 890
AMSOUTH COM 32165102 361 14104 SH SOLE 0 0 14104
** VOTING AUTHORITY **
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
----------------------- ------------- --------- ------- ------- --- ---- ---------- -------- ----- ------ -------
BANCORPORATION
ANHEUSER-BUSCH COS INC 35229103 47 1000 SH SOLE 0 0 1000
ANNALY MTG MGMT INC COM 35710409 172 9160 SH SOLE 0 0 9160
APPLE COMPUTER INC 37833100 41 1000 SH SOLE 0 0 1000
APPLIED MATERIALS INC 38222105 16 1000 SH SOLE 0 0 1000
ASTRAZENECA PLC SPONSORED 46353108 20 500 SH SOLE 0 0 500
ADR
AUTOMATIC DATA COM 53015103 4 100 SH SOLE 0 0 100
PROCESSING INC
BANCORPSOUTH INC 59692103 270 13123 SH SOLE 0 0 13123
BANK OF AMERICA COM 60505104 18 420 SH SOLE 0 0 420
BAXTER INTL INC 71813406 4 75 SH SOLE 0 0 75
CORPORATE UNIT 7.00%
BED BATH & BEYOND INC 75896100 18 500 SH SOLE 0 0 500
BERKSHIRE HATHAWAY CL B COM 84670207 34 12 SH SOLE 0 0 12
HLDG CO
BEST BUY COMPANY INC 86516101 26 515 SH SOLE 0 0 515
BIOMET INC 90613100 18 500 SH SOLE 0 0 500
BOSTON SCIENTIFIC CORP 101137107 8 290 SH SOLE 0 0 290
CVB FINANCIAL CORP 126600105 12 687 SH SOLE 0 0 687
CENDANT CORP COM 151313103 3 132 SH SOLE 0 0 132
CENTURYTEL INC 156700403 4 150 SH SOLE 0 0 150
CORPORATE UNITS PFD
CONV
CHEVRONTEXACO CORP COM 166764100 9 150 SH SOLE 0 0 150
CITIGROUP INC COM 172967101 185 4152 SH SOLE 0 0 4152
CITRIX SYSTEMS INC 177376100 12 500 SH SOLE 0 0 500
CLEVELAND CLIFFS INC 185896107 37 500 SH SOLE 0 0 500
COCA-COLA COMPANY 191216100 25 600 SH SOLE 0 0 600
COMPANHIA VALE DO RIO ADR 204412209 64 2000 SH SOLE 0 0 2000
DOCE
COMPUTER ASSOCIATES 204912109 2 82 SH SOLE 0 0 82
INTERNATIONAL INC
CONSOLIDATED EDISON COM 209115104 13 300 SH SOLE 0 0 300
INC
COVENTRY HEALTH CARE COM 222862104 7 100 SH SOLE 0 0 100
INC
CREE INC COM 225447101 11 500 SH SOLE 0 0 500
DELUXE CORP 248019101 38 960 SH SOLE 0 0 960
DIAMONDS TR UNIT 252787106 47 450 SH SOLE 0 0 450
SER 1
DOW CHEM CO 260543103 94 1915 SH SOLE 0 0 1915
EMC CORP (MASS) COM 268648102 25 2000 SH SOLE 0 0 2000
ELECTRONIC DATA SYS NEW 285661104 3 126 SH SOLE 0 0 126
CORP
EMULEX CORP COM NEW 292475209 10 500 SH SOLE 0 0 500
ENGINEERED SUPPORT 292866100 27 500 SH SOLE 0 0 500
SYS INC
EQUITY OFFICE PPTYS TR 294741509 5 100 SH SOLE 0 0 100
PFD CONV
SER B
FEDERAL SIGNAL CORP 313855108 15 1000 SH SOLE 0 0 1000
FORD MOTOR CO CAP TR II 345395206 7 145 SH SOLE 0 0 145
TR ORG PFD
SECS
FORD MOTOR CR CO SR UNSECD 345397202 23 1000 SH SOLE 0 0 1000
NT 7.375%
CALLABLE
10/11/06
MTY
10/15/31
GAP INC 364760108 3 124 SH SOLE 0 0 124
GENERAL ELECTRIC CO 369604103 344 9710 SH SOLE 0 0 9710
COM
GENERAL MTRS CORP SR DEB 370442741 5 215 SH SOLE 0 0 215
CONV SER A
4.5%_CALLABLE
HOUSTON EXPLORATION COM 442120101 18 300 SH SOLE 0 0 300
CO
ICOS CORP 449295104 22 1000 SH SOLE 0 0 1000
INTEL CORP COM 458140100 138 5990 SH SOLE 0 0 5990
INTERNATIONAL COM 459200101 43 470 SH SOLE 0 0 470
BUSINESS MACHS CORP
ISHARES INC MSCI 464286665 160 1780 SH SOLE 0 0 1780
PACIFIC EX JAPAN
INDEX FD
ISHARES TR GOLDMAN 464287523 25 500 SH SOLE 0 0 500
SACHS SEMICONDUCTOR
INDEX FD
** VOTING AUTHORITY **
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
----------------------- ------------- --------- ------- ------- --- ---- ---------- -------- ----- ------ -------
ISHARES TR DOW JONES 464287788 283 3154 SH SOLE 0 0 3154
US FINL SECTOR INDEX
FD
JOHNSON & JOHNSON COM 478160104 104 1550 SH SOLE 0 0 1550
KING PHARMACEUTICALS COM 495582108 4 500 SH SOLE 0 0 500
INC
KNIGHT TRANSPORTATION 499064103 37 1500 SH SOLE 0 0 1500
LANCE INC 514606102 8 500 SH SOLE 0 0 500
LANDSTAR SYSTEMS INC COM 515098101 6 200 SH SOLE 0 0 200
ELI LILLY & CO 532457108 20 400 SH SOLE 0 0 400
LINEAR TECHNOLOGY CORP 535678106 19 500 SH SOLE 0 0 500
LOWES COS INC 548661107 28 500 SH SOLE 0 0 500
LUCENT TECHNOLOGIES COM 549463107 18 6500.18 SH SOLE 0 0 6500.18
INC
MAGELLAN MIDSTREAM COM UNIT 559080106 11 175 SH SOLE 0 0 175
PARTNERS LP REPSTG LTD
PARTNER INT
MEADWESTVACO CORP COM 583334107 16 500 SH SOLE 0 0 500
MENTOR GRAPHICS CORP 587200106 2 130 SH SOLE 0 0 130
MERITOR SAVINGS BK 590007100 119 27600 SH SOLE 0 0 27600
MERRILL LYNCH & CO INC 590188108 4 80 SH SOLE 0 0 80
MICROSOFT CORP COM 594918104 148 6150 SH SOLE 0 0 6150
MILLENNIUM COM 599902103 8 1000 SH SOLE 0 0 1000
PHARMACEUTICALS INC
MOTOROLA INC 620076109 6 390 SH SOLE 0 0 390
MYLAN LABORATORIES INC 628530107 25 1420 SH SOLE 0 0 1420
NASDAQ 100 TR 631100104 75 2080 SH SOLE 0 0 2080
UNIT SER 1
NATIONAL AUSTRALIA BK LTD CAP 632525309 4 100 SH SOLE 0 0 100
UNIT
EXCHANGEABLE
CALLABLE
NIKE INC CLASS B 654106103 2 26 SH SOLE 0 0 26
NORTHROP GRUMMAN CORP 666807102 3 47 SH SOLE 0 0 47
(PREVIOUSLY KNOWN AS
NORTHROP CORP)
NOVAMERICAN STEEL INC COM 669959108 30 600 SH SOLE 0 0 600
OPEN TEXT CORP COM 683715106 4 200 SH SOLE 0 0 200
PEOPLES HOLDING CO COM 711148106 66 2158 SH SOLE 0 0 2158
PEPSICO INC 713448108 46 872 SH SOLE 0 0 872
PETRO QUEST INC COM NON 716908108 0 1000 SH SOLE 0 0 1000
TRANS > 6
YEARS
PFIZER INC COM 717081103 63 2400 SH SOLE 0 0 2400
PROCTER & GAMBLE CO 742718109 177 3370 SH SOLE 0 0 3370
PRUDENTIAL FINL INC COM 744320102 4 66 SH SOLE 0 0 66
RF MICRO DEVICES INC COM 749941100 7 1400 SH SOLE 0 0 1400
RAYTHEON CO COM NEW 755111507 3 86 SH SOLE 0 0 86
REYNOLDS AMERN INC COM 761713106 48 600 SH SOLE 0 0 600
SAINT PAUL COMPANIES 792860108 0 0 SH SOLE 0 0 0
INC
SANMINA SCI CORP COM 800907107 15 3000 SH SOLE 0 0 3000
SCHERING-PLOUGH CORP COM 806605101 32 1800 SH SOLE 0 0 1800
SCHLUMBERGER LTD COM 806857108 5 75 SH SOLE 0 0 75
ISIN#AN806
8571086
SMUCKER J M CO COM NEW 832696405 0 4 SH SOLE 0 0 4
SONUS NETWORKS INC COM 835916107 20 4875 SH SOLE 0 0 4875
SOUTHERN CO 842587107 28 875 SH SOLE 0 0 875
SOUTHWEST AIRLINES CO 844741108 21 1500 SH SOLE 0 0 1500
SYSCO CORP 871829107 59 1665 SH SOLE 0 0 1665
TEVA PHARMACEUTICAL ADR 881624209 3 93 SH SOLE 0 0 93
INDUSTRIES LTD
TEXAS INSTRUMENTS INC 882508104 25 1000 SH SOLE 0 0 1000
THOR INDS INC 885160101 15 500 SH SOLE 0 0 500
TORCH ENERGY RTY TR 891013104 8 1000 SH SOLE 0 0 1000
UNIT OF
BEN INT
TRUSTMARK CORP 898402102 14 500 SH SOLE 0 0 500
TYCO INTL LTD NEW 902124106 2 71 SH SOLE 0 0 71
US BANCORP DEL COM NEW 902973304 14 500 SH SOLE 0 0 500
UNITED PARCEL SVC INC CL B 911312106 36 500 SH SOLE 0 0 500
** VOTING AUTHORITY **
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER ----------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
----------------------- ------------- --------- ------- ------- --- ---- ---------- -------- ----- ------ -------
UNITED TECHNOLOGIES DEL COM 913017109 40 400 SH SOLE 0 0 400
CORP
VCA ANTECH INC COM 918194101 18 900 SH SOLE 0 0 900
ISIN#US918
1941017
VANGUARD INDEX FDS 922908769 19 170 SH SOLE 0 0 170
VANGUARD TOTAL STK
MKT VIPERS
WACHOVIA CORP (NEW) COM 929903102 3 60 SH SOLE 0 0 60
WAL MART STORES INC 931142103 0 0 SH SOLE 0 0 0
WALGREEN CO 931422109 94 2150 SH SOLE 0 0 2150
WASHINGTON MUTUAL INC 939322103 20 500 SH SOLE 0 0 500
WASHINGTON MUT INC UNIT 1 TR 939322848 5 90 SH SOLE 0 0 90
PFD INCOME
EQTY
REDEEMABLE
SEC PIERS
WASH MUT
CAP TR & 1
WT EXP
WORLD FUEL SERVICES COMMON 981475106 20 600 SH SOLE 0 0 600
CORP STOCK
XEROX CORP PFD CONV 984121509 4 30 SH SOLE 0 0 30
SER C
YAHOO INC COM 984332106 21 600 SH SOLE 0 0 600
TARGET CORP 87612E106 2 47 SH SOLE 0 0 47
BARCLAYS PLC ADRS 06738E206 3 75 SH SOLE 0 0 75
ALTRIA GROUP INC COM 02209S103 56 865 SH SOLE 0 0 865
AMSURG CORP COM 03232P405 19 750 SH SOLE 0 0 750
BACKYARD BURGERS INC COM 05635W101 12 2000 SH SOLE 0 0 2000
BENCHMARK ELECTRONICS 08160H101 24 750 SH SOLE 0 0 750
INC
BONANZA RES CORP COM 09784P107 0 122 SH SOLE 0 0 122
ISIN#CA097
84P1071
CAPITAL ONE FINL CORP COM 14040H105 7 100 SH SOLE 0 0 100
CISCO SYSTEMS INC 17275R102 103 5825 SH SOLE 0 0 5825
EATON VANCE MUN SH BEN INT 27826U108 0 3 SH SOLE 0 0 3
INCOME TR
ERESEARCHTECHNOLOGY COM 29481V108 9 750 SH SOLE 0 0 750
INC
EXXON MOBIL CORP COM 30231G102 179 2948 SH SOLE 0 0 2948
FEDEX CORP COM 31428X106 39 420 SH SOLE 0 0 420
GOLDMAN SACHS GROUP COM 38141G104 11 100 SH SOLE 0 0 100
INC
HRPT PPTYS TR COM SH BEN 40426W101 48 4000 SH SOLE 0 0 4000
INT
HOSPITALITY PPTYS COMMON 44106M102 48 1190 SH SOLE 0 0 1190
TRUST SHARES OF
BENEFICIAL
INTEREST
JDS UNIPHASE CORP 46612J101 0 250 SH SOLE 0 0 250
JUNIPER NETWORKS INC COM 48203R104 45 2100 SH SOLE 0 0 2100
MBNA CORP 55262L100 34 1400 SH SOLE 0 0 1400
MKS INSTRS INC COM 55306N104 3 200 SH SOLE 0 0 200
MELLON FINL CORP COM 58551A108 2 70 SH SOLE 0 0 70
MERISTAR HOSPITALITY COM 58984Y103 6 847 SH SOLE 0 0 847
CORP
NOVARTIS AG 66987V109 5 100 SH SOLE 0 0 100
SPONSORED
ADR
NVIDIA CORP COM 67066G104 3 125 SH SOLE 0 0 125
NUVEEN QUALITY PFD INCOME 67071S309 50 2 SH SOLE 0 0 2
FD PFD SHS
SER T 0.0%
CALLABLE
NUVEEN QUALITY PFD INCOME 67071S606 200 8 SH SOLE 0 0 8
FD PFD SHS
SER
CALLABLE
NUVEEN QUALITY PFD INCOME 67072C204 1000 40 SH SOLE 0 0 40
FD 2 PFD
SHS SER M
CALLABLE
NUVEEN QUALITY PFD INCOME 67072C808 1000 40 SH SOLE 0 0 40
FD 2 PFD
SHS SER
TH2
CALLABLE
** VOTING AUTHORITY **
TITLE OF MKT VAL SH/ PUT/ INVESTMENT OTHER --------------------------
NAME OF ISSUER CLASS CUSIP x 1000 QTY PRN CALL DESCRETION MANAGERS SOLE SHARED NONE
----------------------- ------------- --------- ------- ----------- --- ---- ---------- -------- ------- ------- ---------
NUVEEN QUALITY PFD INCOME 67072W309 750 30 SH SOLE 0 0 30
FD 3 FUND
PFD SHS
SER TH
NUVEEN PFD & CONV 67073B205 150 6 SH SOLE 0 0 6
INCOME FD
FUNDPREFERRED
SHS SER M
NUVEEN PFD & CONV 67073B601 250 10 SH SOLE 0 0 10
INCOME FD
AUCTION RT
PREFERRED
SHS SER F
CALLABLE
NUVEEN PFD & CONV 67073D201 50 2 SH SOLE 0 0 2
INCOME FD
2 PFD SER
M CALLABLE
AUCTION
RATE PFD
NUVEEN PFD & CONV 67073D300 25 1 SH SOLE 0 0 1
INCOME FD
2 PFD SER
M2 2.03%
NUVEEN PFD & CONV 67073D607 175 7 SH SOLE 0 0 7
INCOME FD
2 COM PFD
SER W
OPEN JT STK CO VIMPEL SPONSORED 68370R109 17 500 SH SOLE 0 0 500
COMMUNICATION ADR
POTASH CORP OF COM 73755L107 3 32 SH SOLE 0 0 32
SASKATCHEWAN INC
PRAXAIR INC 74005P104 2 42 SH SOLE 0 0 42
REGIONS FINL CORP NEW COM 7591EP100 26 800 SH SOLE 0 0 800
RESOURCES CONNECTION COM 76122Q105 21 1000 SH SOLE 0 0 1000
INC
STANDARD & POORS DEPOSITARY 78462F103 481 4095 SH SOLE 0 0 4095
RECEIPTS
(SPDR'S)
UNITS OF
UNDIVIDED
BENEFICIAL
INTEREST
SANOFI-AVENTIS SPONS ADR 80105N105 2 50 SH SOLE 0 0 50
ISIN#US801
05N1054
SELECT SECTOR SPDR FD 81369Y100 185 6149 SH SOLE 0 0 6149
MATERIALS
SECTOR SPDR TR 81369Y605 387 13833 SH SOLE 0 0 13833
SHS BEN
INT
FINANCIAL
TRAVELERS PPTY CAS NEW JR SUB 89420G307 2 115 SH SOLE 0 0 115
CORP NT CONV
CALLABLE
UNITEDHEALTH GROUP COM 91324P102 95 992 SH SOLE 0 0 992
INC
VALERO ENERGY 91913Y100 9 120 SH SOLE 0 0 120
CORPORATION
VERTEX COM 92532F100 2 200 SH SOLE 0 0 200
PHARMACEUTICALS INC
ZIMMER HLDGS INC COM 98956P102 7 100 SH SOLE 0 0 100
AMDOCS LTD SHS G02602103 9 325 SH SOLE 0 0 325
ISIN#GB002
2569080
SEVEN SEAS PETROLEUM ORD SHS G80550109 0 5000 SH SOLE 0 0 5000
INC ISIN#KYG80
5501098
ROYAL CARIBBEAN ISIN#LR000 V7780T103 5 105 SH SOLE 0 0 105
CRUISES LTD 8862
FLEXTRONICS INTL LTD ORD SHS Y2573F102 2 200 SH SOLE 0 0 200
GRAND TOTALS 658781 11000794.18 7009973 3287058 703763.18