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Banking & Finance

BKD cracks national top 10

JACKSON — CCH’s Public Accounting Report has ranked BKD, LLP, the 10th largest CPA and advisory firm in the U.S. BKD currently operates 32 offices in 12 states and employs more than 2,000 professionals. BKD Mississippi was formed when local firms Smith, Turner & Reeves, P.A., Johnson, Bruce & Host, PLLC and Shearer, Taylor & Co., P.A., joined in the ...

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Details of alleged Evans brothers' fraud revealed

Two months after a Madison title insurance company sued two brothers for committing commercial mortgage fraud, banks are scrambling to obtain titles to properties on which they have made loans, and parties are wondering how much the title company may have to pay out. In a Sept. 18 lawsuit in Madison Chancery Court, Mississippi Valley Title Insurance Co. (MVT) alleged ...

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Evans brothers accused of massive fraud

A Madison title insurance company is accusing two brothers of committing mortgage fraud and leading the title company to issue fraudulent title insurance policies in Madison County and elsewhere in the state. Mississippi Valley Title alleges brothers Charles H. Evans Jr. and Jon C. (Chris) Evans committed mortgage fraud on banks and induced MVT to issue fraudulent title insurance policies. Although ...

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Millions in mortgage fraud alleged

Mississippi Valley Title alleges attorneys Charles and Chris Evans committed mortgage fraud on banks and induced Mississippi Valley Title to issue fraudulent title insurance policies. The claim was part of a motion filed in Madison County Chancery Court in October asking for a preliminary injunction. Charles Evans was an approved attorney for MVT, from whom the company accepted title work. ...

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CMI finally tops the 50-mark

COLUMBIA, Md. — The Credit Managers’ Index (CMI) has broken past the 50 neutral barrier for the first time in over a year, representing a growing economy. The index started in that direction in September when the service side of the equation improved to 50.1, but manufacturing still lagged, finishing at 49.6. Now both sectors are showing expansion and the ...

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SBA seeking award nominees

JACKSON — The U.S. Small Business Administration (SBA) is seeking nominations for the 2010 Mississippi Small Business Person of the Year and Small Business Champion awards. Each year since 1963, the President of the United States has designated a National Small Business Week. The highlight of Small Business Week activities is the presentation of awards at the state and national ...

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SBA proposes new regulations

WASHINGTON — The U.S. Small Business Administration (SBA) announced proposals aimed at strengthening opportunities for disadvantaged small businesses to benefit from its 8(a) Business Development program. The proposed 8(a) regulation changes are the result of the first comprehensive review of the 8(a) program in a number of years and were published in the “Federal Register.” The rules cover a variety ...

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Britton & Koontz records weaker quarter

NATCHEZ — For the three months ended Sept. 30, 2009, Britton & Koontz Capital Corporation saw net income of $325,000, or $0.15 per diluted share, compared to $943,000, or $0.45 per diluted share, for the quarter ended Sept. 30, 2008. For the nine-month period, net income and diluted earnings per share were $1.7 million and $0.79, respectively, compared to $2.6 ...

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State SBA office first in lending

JACKSON — The Mississippi U.S. Small Business Administration (SBA) approved 770 loans for Mississippi small businesses totaling approximately $144.93 million during fiscal year 2009 (Oct. 1, 2008 to Sept. 30, 2009). The Mississippi SBA Office made more loans in FY 2009 than in FY 2007 and 2008 — 623 loans valued at $107.05 million and 479 loans valued at $121.096 ...

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Cadence records a loss

STARKVILLE — Cadence Financial Corporation reported a net loss applicable to common shareholders of $13.1 million, or $1.10 per diluted share, for the third quarter ended Sept. 30, 2009, compared with a net loss of $5.3 million, or $0.44 per diluted share, for the third quarter of 2008. The loss for the 2009 period was due primarily to a high ...

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