Archive for the ‘BANKING & FINANCE – Market Sector’ Category

U.S. credit union assets grow to over $1 trillion but fewer CUs surviving

by Ted Carter Published: April 14,2014

Tags: banking, Business, credit union, finance, Mississippi

Credit union numbers have declined steadily in Mississippi and across the country in the last 25 years. But money is flowing into the surviving ones at increasing amounts. From 2006 to 2010, the number of federally insured credit unions nationally went from 8,362 to 7,339. At the same time, assets ballooned from $710 billion to […] [...]

Keesler Credit Union gaining stake in Jackson with MDOT CU acquisition

by Ted Carter Published: April 14,2014

Tags: banking, Business, finance, Gulf Coast, Keesler, Mississippi

Keesler Federal Credit Union, a $2.1 billion Biloxi-based member institution, has set the stage for entry into the metro Jackson market with acquisition of the $4.8 million Mississippi Department of Transportation Federal Credit Union. The deal closed March 31. Convergence of the operations is to be completed by June 30. Both non-profit entities were among […] [...]

Man indicted, accused of bankruptcy fraud

JACKSON — A Jackson man was indicted Wednesday on charges that he defrauded his bankrupt business of more than $9 million. William “Butch” Dickson faces charges in U.S. District Court in Jackson. The 58-year-old is being held without bond in Mississippi, and a court appearance was set for Tuesday. Federal prosecutors say that after Dickson’s […] [...]

BancorpSouth buying Louisiana-based insurance firm

TUPELO — BancorpSouth Insurance Services Inc., a subsidiary of BancorpSouth Bank, has, signed a definitive agreement to acquire the assets of Lafayette, La.-based Knox Insurance Group, LLC. The transaction is expected to close immediately.  Financial terms of the pending transaction were not disclosed. “The Knox acquisition gives us an opportunity to meaningfully expand our market […] [...]

It’s a taxing season for CPA firms

by Lynn Lofton Published: April 7,2014

Tags: banking, Business, finance, Mississippi, taxes

With less than two weeks left before tax filing deadline, CPA offices across Mississippi are feeling the crush. These pros, however, have learned to cope with the yearly pressures of tax season. They also took time to discuss changes and trends they’ve observed this year. Jessica Cooley with the Jackson metro area firm of GranthamPoole […] [...]

JMAA’s airport revenue bonds downgraded due to loss of Southwest

JACKSON — Fitch Ratings has downgraded the Jackson Municipal Airport Authority’s airport revenue bonds of approximately $39.4 million to “BBB+” from “A-.” The rating outlook remains “stable. “ The downgrade reflects concerns related to the pending loss of the airport’s second largest carrier, Southwest Airlines Co. (Southwest, Fitch rated IDR “BBB” with a stable outlook), […] [...]

State to end sales tax on interest paid on store-financed merchandise

by Ted Carter Published: April 7,2014

Tags: Business, government, Mississippi, Politics, taxes

Toting the note just got easier for Mississippi car dealers and other merchants who finance their customers’ purchases. Gov. Phil Bryant’s signing of House Bill 260 Tuesday puts a July 1 end to sales taxes on interest and other finance charges at buy-here-pay-here retail locations, including auto dealerships and furniture and appliance stores that arrange […] [...]

MDA’s Entrepreneur Center in new first floor space in Woolfolk

by Ted Carter Published: April 7,2014

Tags: Business, government, Mississippi, money, Politics

The Mississippi Development Authority’s Entrepreneur Center has relocated to the Woolfolk Building’s first-floor in a move designed to make the Center and its resources more accessible to people who want to get a business off the ground. » READ MORE: Entrepreneur Center: Helping you find your corner of commerce Project managers will work from cubicles just […] [...]

Entrepreneur Center: Helping you find your corner of commerce

AA Calibration Services founder Larry White says it took less than a minute back in 2004 to realize the layoff notice he had just received represented the opportunity of a lifetime. To be more exact, White said, it took about “30 seconds to recognize this opportunity.” White, a retired Navy aviation electronic technician, reacted to […] [...]

DOR: State’s general fund stands to lose more than $100 million annually through the new tax apportionment rules

by Ted Carter Published: April 7,2014

Tags: Business, finances, government, Mississippi, money, Politics, taxes

A bill to limit how and when the Mississippi Department of Revenue can use a market-based taxing method in calculating the tax bills of multistate businesses in the state passed the Legislature Tuesday morning. Legislators also put limits on the DOR’s authority to demand multistate companies provide combined tax returns. The DOR has insisted on […] [...]

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