Delta’s banks stay open, spared flood problems so far

May 13, 2011

Banking & Finance

By Ted Carter
SANDESTIN,. Fla. — Mississippi’s historic flood has yet to force a bank shut down, says Mississippi Banking Commissioner John Allison.
Allison, in Sandestin for the annual convention of the Mississippi Bankers Association, said the lone disruption of a financial services business occurred with Tower Loans in Rolling Fork. The business itself has not been damaged by high water but access to Rolling Fork has been cut off by the flooding, Allison said.
In Tunica where the casinos have closed, the banks are in neighboring Robinsonville and have remained open, the commissioner noted.
Allison sent notice last week to banks and financial service companies around the state urging the institutions to be patient with borrowers and others who have been forced to leave their homes and are unable to make scheduled payments.

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