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Banking & Finance

Andy Anderson to lead Bank of Anguilla

Andy Anderson has been named President and CEO of Bank of Anguilla, succeeding Fred Miller, Jr. who was elected as chairman of the Board of Directors.  Anderson has been with the Bank of Anguilla since Jan. 1, 1983.  He also is currently serving as Chief Financial Officer, Compliance Officer and is a Director of the Bank.  Andy holds both BBA ...

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COMMERCIAL FINANCE 701 — Loan guaranties: Skin in the game

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M any a furl-browed borrower has questioned a bank’s need for guaranties.  The borrower – excited about his can’t-miss venture – may be slightly offended that the bank even thinks a guaranty is necessary and, contradictorily, hesitant to put his net worth on the line.  Today’s bank – making loans at historically low rates but all too cognizant of several ...

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Mississippi May revenue collections slow

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JACKSON — Mississippi tax collections for May were $107.2 million below what state officials had expected. The shortfall leaves revenue $84.5 million below what officials estimated would be collected through May. The fiscal year ends June 30. While disappointed with the revenue collections, House Appropriations Chair Herb Frierson, R-Poplarville, said the state’s fiscal condition is healthy. He says the state ...

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Fitch cuts Mississippi Power credit rating on Kemper issues

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JACKSON — Fitch Ratings lowered its credit rating for Mississippi Power by one notch from A- to BBB+ Friday, saying there remain “elevated risks” of financial, regulatory and construction trouble at the $6.2 billion Kemper County power plant. The rating agency, which had warned of the action, said its outlook for Mississippi Power is still negative, raising the risk of ...

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BankFirst to merge with Newton County Bank

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NEWTON — BankFirst Capital Corporation has merged with Newton County Bancorporation Inc. The transaction, which is expected to close in the third quarter of 2015, was unanimously approved by the boards of both companies but remains subject to approval by NCB’s shareholders and regulators. Terms were not disclosed. Moak Griffin, BankFirst president & CEO, says in a news release that ...

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State awaits response from payday lending firm

The Mississippi Department of Banking and Consumer Finance is awaiting statewide payday lender All American Check Cashing’s response to findings the department made in its investigation of alleged illegal loan rollovers. Stephen Schelver, attorney for the Banking Department, said subjects of department investigations typically reply within 30 to 60 days, though no hard deadline is in place. He said he ...

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Karen Dickey earns promotion

Karen Dickey has been promoted to Senior Vice President and Branch Administration Officer for Community Bank, North Mississippi.  She joined Community Bank in 2007, and was most recently a Vice President and Loan Officer. Dickey specializes in relationship management and business development, as well as consumer and commercial lending. Active in the community, Dickey is a member of the Advisory ...

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