Mississippi Business Journal » loans

County taking out loan to pay for road projects, equipment

Associated Press — Wed, 13 Jun 2012 01:08:32 +0000

WASHINGTON COUNTY — Washington County will borrow $1.5 million to repair local roads and buy road-working equipment, The Delta Democrat Times reports. Supervisor Troy Wesley Sr. says board members did a tour of the county roads about three or four months ago and assessed what roads were in bad shape. Wesley says the county expects [...]

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FEMA forgives county’s Hurricane Katrina loan

Associated Press — Mon, 11 Jun 2012 19:33:32 +0000

JACKSON COUNTY — The government has forgiven $10.5 million that Jackson County borrowed after Hurricane Katrina from FEMA’s Community Disaster Loan program. The Sun Herald reports the announcement came today during the county board of supervisors’ meeting. Over the years, the debt had grown to $12.6 million with interest. In a previous round of consideration, [...]

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All-American completes merger/acquisition with Emergency Cash

MBJ Staff — Mon, 28 May 2012 16:12:17 +0000

MADISON and BYRAM — All American Check Cashing has completed the merger and acquisition of Emergency Cash of Byram. Terms were not disclosed. This marks the fifth acquisition for All American in the last 12 months and brings the total of payday and title loan locations in Mississippi to over 34. Early this month All [...]

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Deadline nearing for SBA drought-related disaster loans

MBJ Staff — Wed, 16 May 2012 17:43:20 +0000

ACROSS 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 June 14 is the filing deadline for federal economic injury disaster loans available in Mississippi as a result of the drought and excessive heat that occurred [...]

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Renasant Corp. expands into East Tennessee

Associated Press — Fri, 04 May 2012 13:22:27 +0000

TUPELO — Renasant Corp. is entering the banking market in east Tennessee. Renasant says the new bank should open in Maryville, Tenn., a suburb of Knoxville, by the end of May. Renasant says in a statement that this is the eighth expansion by the bank in the past year and a half. Renasant is the [...]

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Peoples Financial reports increased earnings, decreased loan losses

Associated Press — Tue, 01 May 2012 19:44:15 +0000

BILOXI — Peoples Financial Corporation, parent of The Peoples Bank, reported net income of $505,000 for the first quarter of 2012, a 15.3 percent increase over the first quarter of 2011. Loan volume increased 5.3 percent over the first quarter of 2011 to $428 million, compared to $407 million in the same period last year. [...]

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Renasant: Acquisitions, new branches improving bottom line

Associated Press — Thu, 26 Apr 2012 22:34:56 +0000

TUPELO — Renasant Corp. says its acquisitions and new branches are succeeding as it cut bad loans in the first quarter of 2012. The bank said it earned quarterly profit of nearly $6 million, or 24 cents per share. The company earned about $7.5 million, or 30 cents per share, in the same quarter of [...]

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Trustmark’s profits soar on fewer bad loans, Florida acquisition

Associated Press — Wed, 25 Apr 2012 20:08:45 +0000

JACKSON — Trustmark Corp. said profits rose strongly in the first quarter as the bank set aside less for bad loans and earned a windfall on buying a Florida bank. The bank said it earned $30.3 million, or 47 cents per share, in the quarter that ended March 31. That’s 26 percent higher than the [...]

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Loan interest legislation dies in Senate committee

Associated Press — Wed, 04 Apr 2012 14:50:48 +0000

JACKSON — A bill that would have allowed small lenders to charge more on certain types of loans died with a yesterday deadline for committee action. House Bill 1396 would have increased the allowable interest rates on loans under $1,500 from 36 percent to 99 percent. Supporters say the measure would have given borrowers a [...]

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Legislation would drive up interest rates on some loans

Associated Press — Tue, 03 Apr 2012 14:43:03 +0000

JACKSON — Mississippi borrowers could soon pay more for some kinds of loans if lawmakers approve a bill to allow higher interest rates. House Bill 1396 would allow loan companies to charge 99 percent interest for loans up to $1,500. The current cap is 36 percent. It would also change amounts that could be charged [...]

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