Posts Tagged ‘John Allison’

House banking panel OKs payday-lending extension

By Ted Carter A 7-year renewal of Mississippi’s payday lending law – including a $100 increase in the amount that can be transacted — received an endorsement Tuesday from the state House’s Banking and Finance Committee. Bill sponsor Rep. George Flaggs, a Vicksburg Democrat and chair of the Banking and Finance Committee, said the bill […] [...]

More bank lending in 2011? Answer is in bad loan cleanups

by Ted Carter Published: January 2,2011

Tags: Aubrey Patterson, Bill Prater, John Allison, Ray Britt, Sheila Bair

Banking Commissioner John Allison says he’s seen signs that may signal turning of corner for Mississippi banking sector Nationally, banks have loosened lending and eased up on an obsession with cleaning up their balance sheets, says Sheila Bair, chairman of the Federal Insurance Deposit Corporation. Some of that change could filter down to Mississippi in […] [...]

Survey shows struggle to survive between paychecks

More than 1 in 3 Mississippians took out payday loans or other type high-cost, short-term loans in last five years Mississippi’s legislators faced with having to decide whether to renew a payday lending law in 2012 have a new factor to consider:  More Mississippians than ever are living paycheck-to-paycheck. Unless conventional banks make short-term, low-dollar loans […] [...]

AG: State not yet clear of fiasco on foreclosure

by Ted Carter Published: December 12,2010

Tags: banking, Jim Hood, John Allison, Obama

Numbers elsewhere increase odds state may have messes to clean up from flawed foreclosures Mississippi banking commissioner John Allison says it appears the state’s real estate and banking sectors will be spared troubled caused elsewhere in the nation by the foreclosure fiasco that started early in the fall. But Attorney General Jim Hood says he […] [...]

Getting an early start

by Ted Carter Published: November 21,2010

Tags: Carol Penick, Jamie Fulmer, John Allison, Mississippians for Fair Lending, payday loan issue

Battle over renewing payday lending law already on the minds of many >> Mississippi’s law regulating short-term loan industry is scheduled to sunset in 2012 if not renewed Mississippi’s legislators can expect their appointment books to begin filling up early in the new year with representatives on both sides of the payday loan issue. Mississippi’s payday lending […] [...]

Cadence cites pressures in failed merger

by Ted Carter Published: October 24,2010

Tags: Cadence Bank, John Allison, Ken Cyree, Lewis Mallory Jr., Trustmark

Sept. 20 deadline apparently was dealbreaker As September moved past its mid-point, Cadence Bank executives saw their choices narrowed to this: Get a buyer deal done right away or feel the heat of federal sanctions for failing to meet a Sept. 19 deadline to significantly raise capital reserves. Cadence faced a two-minute drill with no […] [...]

Heritage willing to entertain offers

by Ted Carter Published: October 24,2010

Tags: Charles Courtney Jr., Dr. S.L. Sethi, Hans Pettit, Heritage, John Allison

It’s tough persuading someone to buy your problems, especially when it will take millions of dollars to make them go away. But when you’re Heritage Bank with a lock on more than half the market in Carthage, you may draw some interest. The only question is whether potential buyers will prefer to wait until the […] [...]

‘Tarnished franchise?’

Cadence battles public opinion after backing out of Trustmark deal; claims it saved 125 jobs in Starkville area because of the move Cadence Bank’s shareholders — especially the “insiders” who own nearly11 percent of the bank holding company’s stock — get an appealing payday from last week’s decision to scrap an acquisition deal with Trustmark […] [...]

Right in the middle of it

by Ted Carter Published: October 15,2010

Tags: Jay Rodgers, Jim Hood, John Allison, Mark Warren

Dilemma at home: No easy options for state on flawed foreclosures A mess that began with big national banks adopting an assembly line approach to home foreclosures has moved from Mississippi’s doorstep into its living room. Getting rid of the intruder — and reversing its threat to the state’s banking and housing sectors — requires […] [...]

Acquisitions and mergers

by Ted Carter Published: September 19,2010

Tags: Banks, Hans Petit, Joel Clements, John Allison, John Oxford

Flurry of activity may be in the future of many Mississippi institutions A desire to offset dried up demand for consumer and business loans may set off a round of acquisitions and mergers among Mississippi banks. With ledger sheets showing greatly diminished interest income, bankers must get resourceful if they want to see some money […] [...]

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