Posts Tagged ‘banking’

Mississippi banks continue gains in operating income

by 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 […] [...]

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 […] [...]

Summer Gorman has joined Community Bank

by Published: March 27,2014

Tags: banking, Business, finance, Mississippi

Summer Gorman has joined Community Bank in the Madison office. Gorman was previously employed as a mortgage loan originator with over 12 years of experience, and will now serve an assistant vice president in consumer lending and a mortgage loan originator. A Saltillo native, she is a graduate of Mississippi State University with a degree […] [...]

Chris Blakeney and Christina Bryant earn promotions with Community Bank

by Published: March 27,2014

Tags: banking, Business, finance, Mississippi

Community Bank has promoted Chris Blakeney to loan officer in Raleigh. He joined Community Bank in September of this year, and has been serving as a teller. Blakeney, a Smith County native, is a graduate of the University of Southern Mississippi with a bachelor of science in business administration, majoring in banking and finance. He […] [...]

Farmer-owned coop pays patronage for 19th year in a row

RIDGELAND — First South Farm Credit member-borrowers will receive approximately $13 million in patronage refund checks in April. Patronage, which is a form of dividend payment, is based on the association’s year-end earnings. Shep Morris, chairman of the First South board of directors, said, “This is the 19th consecutive year we’ve paid a patronage refund. […] [...]

Attorney pleads guilty to defrauding two banks, court

BILOXI — A Coast attorney has pleaded guilty covering up evidence connected to a scheme to defraud two banks and the U.S. Bankruptcy Court. The government says in a news release that it is seeking restitution on behalf of the victims in the amount of $7.7 million. Stephen Richard Colson entered the plea in U.S. […] [...]

Fed clarifies guidance on short-term rates

by Published: March 19,2014

Tags: banking, Business, Mississippi, money

WASHINGTON  — The Federal Reserve is seeking to clarify when it might start to raise short-term interest rates from record lows. The Fed also says it will cut its monthly long-term bond purchases by another $10 billion to $55 billion because it thinks the economy is strong enough to support further improvements in the job […] [...]

Deadline nears for disaster loans for victims of freeze

SOUTH MISSISSIPPI — 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 14 is the filing deadline for federal economic injury disaster loans available in George, Greene, Jackson and Wayne counties in Mississippi as a result of […] [...]

The First acquiring Alabama bank in cash/stock deal

HATTIESBURG — First Bancshares is expanding further into Alabama, announcing yesterday that it will buy BCB Holding Co. of Mobile, Ala., for about $6.6 million in cash and stock. BCB is the parent company of Bay Bank, which has $80 million in assets. Hattiesburg-based First Bancshares, the parent company of The First, says it expects […] [...]

Stock and housing gains put US net worth at record

by Published: March 6,2014

Tags: banking, finance, Mississippi, United States, Wall Street

WASHINGTON — A surging stock market and rebounding home prices boosted Americans’ wealth to a record in the final three months of last year, though both trends have slowed so far in 2014. Household net worth jumped nearly $3 trillion during last year’s fourth quarter to $80.7 trillion. Stock and mutual fund portfolios gained nearly […] [...]

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