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

The First opening loan office in Baton Rouge

HATTIESBURG — The First Bancshares Inc., holding company for The First, A National Banking Association, is opening of a new loan production office in Baton Rouge, La. M. Ray “Hoppy” Cole, president and CEO of First Bancshares and The First, said, “We are excited to gain a larger presence in Louisiana with the entry into […] [...]

Deadline approaches for aid to victims of last year’s flooding

ALCORN COUNTY and TISHOMINGO COUNTY — The U.S. Small Business Administration is reminding small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes that April 28 is the filing deadline for federal economic injury disaster loans. These loans are available in Alcorn and Tishomingo counties in Mississippi […] [...]

Study: Most rural hospitals’ finances at or above national average

JACKSON — State Auditor Stacey Pickering has released a study of Mississippi’s publicly owned, rural hospitals’ financial health. Public finances and the efficiency and effectiveness of their use are areas frequently studied by the Office of the State Auditor. The study, which gathered data from audited financial reports for the years 2009-2012, includes 25 hospitals […] [...]

Developers of a 2nd Coast casino miss financing deadline

MISSISSIPPI GULF COAST — Developers of two proposed casinos for the Mississippi Gulf Coast have missed deadlines to secure financing to build their projects. Tuesday, Rotate Black, which has a site approval at the Gulfport Harbor to build the $112 million Hemingway Casino failed to meet the 5 p.m. deadline. Monday, developers for the Scarlet […] [...]

Louisiana officials, FDIC give nod to bank branch in Natchez

NATCHEZ — The Louisiana Office of Financial Institutions and the FDIC have approved an application of Delta Bank of Vidalia, La., to open a full-service branch in Natchez. Bank officials said the move twill position Delta Bank to enhance banking convenience in a region of the state it has long served and understands well. The […] [...]

KiOR borrows $25M; avoids defaulting on loan

COLUMBUS — Alternative-fuel maker KiOR Inc. has borrowed enough money to keep operating through August. The Pasadena, Texas, company, which has a $225-million plant in Columbus, had warned last month that it had to raise more money for research and plant improvements. KiOR, in a stock filing today, said it had completed a deal to […] [...]

Fitch’s ‘negative’ outlook for state credit in place for a while

by Ted Carter Published: March 28,2014

Tags: Business, credit, Fitch ratings, Lynn Fitch, Mississippi

Mississippi can expect Fitch Ratings Service to maintain its “negative” outlook on the state’s credit for at least another two years, says Karen Krop, a Fitch senior director who evaluated the state’s borrowing and repayment circumstances in designating the credit outlook on Oct. 31. It’s a big picture look at a state’s overall credit quality […] [...]

Mississippi banks continue gains in operating income

by Ted Carter Published: March 28,2014

Tags: banking, Banking & Finance, Business, consumers, finance, Mississippi

Mississippi’s 86 FDIC-insured financial institutions ended the final quarter of 2013 with a year-over-year quarterly gain in operating income of $16 million, joining their counterparts nationally in making gains the FDIC attributed to lower expenses for loan-loss provisions and money put aside for litigation. While the $16 million may seem insubstantial, the $538 million total […] [...]

35 years and still printing — Mississippi Business Journal working on fourth decade in business

by Wally Northway Published: March 28,2014

Tags: Business, JACKSON, journalism, media, Mississippi

In August 1979, a new business-focused, statewide newspaper hit the newsstand for the first time. Dubbed the Mississippi Business Journal, that first issue dealt with transportation issues, oil and gas exploration and the upcoming gubernatorial election as well as offering people in the news, business briefs, editorials and more. The frequency of the publication would […] [...]

Federal Reserve gives nod to Regions’ capital plan

BIRMINGHAM, Ala. — The Federal Reserve has indicated to Regions Financial Corporation that it does not object to the company’s capital plan and proposed capital actions covering the period from April 1, 2014, to March 31, 2015. The capital plan was submitted to the Federal Reserve on Jan. 6, as part of the Comprehensive Capital […] [...]

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