by MBJ Staff Published: August 21,2011
Tags: Ken Davis, Renasant Bank
Renasant Bank has named banking veteran Ken Davis Georgia Division president. Davis has more than 26 years in finance and banking. After graduating from college and serving six years in the U.S. Army, Davis returned to his home town of Atlanta to begin his banking career. Davis earned a bachelor of arts degree from Wake [...] [...]
by MBJ Staff Published: August 21,2011
Tags: BancorpSouth
Tupelo-based BancorpSouth is selling a pair of Texas bank branches, one of which was included among the 23 branches in six states to be closed this month. The $13.4 billion regional bank says it is selling its banking operations in Maud and Redwater to the First National Bank of Hughes Springs, Texas. The transaction will [...] [...]
by MBJ Staff Published: August 21,2011
Tags: Metropolitan Bank
Metropolitan Bank says it will open a new office at 5264 Poplar Ave. in East Memphis in the former headquarters for Loeb Properties. This will be Metropolitan’s second office in the Memphis market. Renovation will begin immediately with expected opening in November 2011. The new office will be an anchor for the bank’s commercial and [...] [...]
by Ted Carter Published: August 21,2011
Tags: Cross-selling, marketing products and services, Tommy Solomon, up-sell
An emphasis on marketing products and services to current customers has led bank managers to leave their offices and work the lobby much like a maître d in a dining room. With that visibility comes a new inquisitiveness about the financial services and products you may need. With loan demand stuck on stopped and deposits [...] [...]
by Tim Turner Published: August 21,2011
Tags: loan originators, mortgage fraud
As onerous as the new regulations in place may seem to loan originators, an alarming number seems to justify them. According to the Federal Bureau of Investigation’s Mortgage Fraud Report, of the Top 10 Prevalent Schemes per FBI cases opened for fiscal year 2010, an astounding 62 percent of them involved loan origination schemes. The [...] [...]
by Ted Carter Published: August 21,2011
Tags: 1031 Exchange, federal tax law
While the housing foreclosure crisis and widespread commercial vacancies give real estate a horror movie feel, federal tax law makes it hard to fall entirely out of love with real estate investing. At least it has for investors willing to think long-term, says Jackson commercial Realtor Walter Michel, principal of the J. Walter Michel Agency. [...] [...]
by MBJ Staff Published: August 21,2011
Tags:
The Federal Deposit Insurance Corporation (FDIC) closed out the first half of the year by shutting down another three banks, bringing its total number of closings for first six months of 2011 to 61. The shutdown pace is an improvement over last year, however, when the agency shuttered 157 banks. In 2009 it closed 140 [...] [...]
by Ted Carter Published: July 4,2011
Tags: banking, Congress, Dodd-Frank Wall Street Reform and Consumer Protection Act, finance, too big to fail
Bankers should be prepared to raise more capital reserve money without looking for it in the places they are used to finding it. And in a first for the U.S. banking sector, bankers should prepare to pay interest on the “demand deposit” accounts held by businesses. Those are among the challenges the Dodd-Frank Wall Street [...] [...]
If proposed legislation being considered by Congress becomes law, the dream of home ownership will be a dream deferred for some and one increasingly illusive for others. Prospective homebuyers, lenders, Realtors and home builders are battling butterflies in their stomachs the size of 777 aircrafts over the proposed rules for “Qualified Residential Mortgages,” which would [...] [...]
by Ted Carter Published: July 3,2011
Tags: banking, banking regulation, Business, finance, regulation
Bankers in Mississippi and elsewhere in the country have penciled in July 21 as the day a new era in America banking regulation begins in earnest. July 21 marks a year to the day that President Obama signed what one Mississippi banking executive calls an “absolute dramatic rewriting of the rules” of banking. Few banking [...] [...]
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