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Banking & Finance

Commercial loans – who needs them?

Lenders see fewer prospective borrowers during difficult economic times   Lenders are reporting they are ready and willing to make commercial and industrial loans. However, they are seeing few takers these days. With consumer spending down and businesses cutting back, prospective commercial borrowers have little use for a loan. “Demand for commercial loans has been soft the last six to ...

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PLAYING FOR KEEPS

Community reinvestment programs help homeowners hold on in hard times CAMDEN —  A summer night. A piece of torn screen flaps open trying to catch a breath of night air in northern Madison county. A cat silently slips into the house in hopes of evading the fleas and mosquitos outside. The next morning, 89-year old Clementeen Dawson awakens to as ...

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Loans still available for agribusiness

Creditworthiness the key concern While the agribusiness sector is facing many challenges, the availability of credit is not one of them. Rather, the concern is whether producers can remain creditworthy in a very difficult environment. This has both lenders and producers nervous. “(Credit availability) has not really been an issue,” said David Waide, president of the Mississippi Farm Bureau Federation ...

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The First sees poorer quarter

HATTIESBURG — The First Bancshares Inc., holding company for The First, A National Banking Association, reported earnings for the three months ended June 30, 2009, amounted to $104,000, or $0.03 per diluted share, compared to $339,000, or $0.11 per diluted share, for the same quarter in 2008. David E. Johnson, The First chairman and CEO, said, “In light of the ...

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Childers, Nunnelee exchange jabs on stimulus cash

  TUPELO —  Democratic U.S. Rep. Travis Childers says a potential Republican opponent, Alan Nunnelee, is a “hypocrite” for criticizing the federal stimulus program. Childers says that Nunnelee, as chairman of the state Senate Appropriations Committee, used $500 million in stimulus money to help write a $6 billion state budget. Nunnelee says the stimulus was a costly mistake and he ...

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Hancock at tops of rankings

     Financial institution again ranked among nation’s best banks    The second quarter of 2009 was a painful one for the state’s banks. Special FDIC insurance assessments and a spike in net charge-offs of bad loans gave earnings a one-two punch. Hancock Holding Company, parent of Hancock Bank, certainly was not immune. Net income during the second quarter was down ...

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CMI continues upward trend

COLUMBIA, Md. — For the sixth straight month, the Credit Managers’ Index (CMI) indicates that there is growth in the availability of capital. The July index stood at 48. Over the last two months, the dominant economic debate has focused on whether the recession has already ended, is ending now or is in the process of ending. The data coming ...

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Trustmark impacted by charge-offs

JACKSON — Trustmark Corporation reports net income available to common shareholders of $13.4 million in the second quarter of 2009, which represented basic earnings per common share of $0.23. Earnings during the quarter were impacted by a previously announced special FDIC deposit insurance assessment applicable to all insured depository institutions, which reduced Trustmark’s net income by $2.7 million, or $0.05 ...

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Lexaria issuing additional shares

Lexaria Corp. announces that its July 10 financing was oversubscribed. The company will issue an additional 800,000 shares to have a total of 10,562,370 issued and outstanding, and has received cash proceeds of an additional $40,000. All shares issued in relation to the recent financings are restricted under various securities regulations. If all existing stock options and warrants were to ...

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