Home » NEWS » Banking & Finance (page 228)

Banking & Finance

UPDATE: Small Miss. banks still not interested in TARP

Washington is considering another round of bank bailouts for banks that were too small or risky for the first disbursement of Troubled Asset Relief Program funds in fall 2008. But “bailout” might not be the right word, since some banks receiving these funds are in good financial standing. Qualifications are vague, but these new funds could go to banks with ...

Read More »

DSU using unique financing for dorm

CLEVELAND — Delta State University will host a groundbreaking ceremony for a new 362-bed residence hall Sept. 23, at 1:30 p.m. at the corner of Maple and Washington streets. The new facility is scheduled to open in the fall of 2010 and will stand where Bond-Carpenter and Whittington-Williams halls once stood on the south side of the campus. Delta State ...

Read More »

Fitch rates Forrest General bonds

HATTIESBURG — Fitch Ratings has assigned an “A” rating to the expected issuance of the $44.99-million Mississippi Hospital Equipment and Facilities Authority’s series 2009 refunding bonds issued for the benefit of Forrest General Hospital (FGH). Fitch also affirms the rating on the hospital’s outstanding series 2007 and 2000 bond issues. The rating outlook is “stable.” Bond proceeds will be used ...

Read More »

Levens takes seat on Hancock board

GULFPORT — Long Beach native Jerry L. Levens, a Mississippi Gulf Coast CPA and certified fraud examiner, has been named to the Hancock Holding Company board of directors. A partner with Alexander, Van Loon, Sloan, Levens & Favre, PLLC, of Gulfport and Wiggins, Levens became a member of the Hancock Bank Mississippi board in May 2008. As a Hancock Holding ...

Read More »

The First gets new CEO

HATTIESBURG — M. Ray “Hoppy” Cole will be named CEO of The First, A National Banking Association and The First Bancshares. He took over as CEO Sept. 14. Cole is a founding director of the First National Bank of the Pine Belt (the predecessor bank of the current Laurel branch) and a director of The First Bancshares Inc. Cole joined ...

Read More »

Robinson named Magnolia president/CEO

BAY SPRINGS — After 30 years of serving as Magnolia State Bank president, CEO and chairman Thomas Brown has named a new president and CEO, Marcus Robinson, formerly with Regions Bank in Hattiesburg. Brown will continue to serve the bank as a full-time chairman of the board and will continue to maintain an office in Bay Springs. “With Marcus on ...

Read More »

Fitch rates education bonds

JACKSON — Fitch Ratings assigns an “AA-” rating to the University of Mississippi (UM) Educational Building Corporation’s (EBC) approximately $15.2 million of revenue bonds, series 2009C-1 (Residential College Project – Phase II) and Build America Bonds, series 2009C-2 (Residential College Project – Phase II, Federally Taxable Build America Bonds) (collectively, the bonds). A portion of the bonds may be sold ...

Read More »

Cadence selling insurance firm

COLUMBUS — Officials of Galloway Chandler McKinney Insurance Agency Inc. (GCM) announced the execution of an agreement by which previous owners and several associates of GCM have purchased the company back from Cadence. Terms were not disclosed. The ownership change concludes 10 years of a mutually beneficial relationship in which GCM operated as a wholly-owned subsidiary of Cadence Bank. The ...

Read More »

CMI shows continued weakness

COLUMBIA, Md. — After six months of solid gains, the Credit Managers’ Index (CMI) showed slower progress and registered declines in key indicators. There was still some positive movement in the Index as a whole, but there are obvious weaknesses showing up in terms of credit availability, credit applications and sales. The CMI showed a dramatic decline from the levels ...

Read More »

BP discovery in Gulf may be one of largest in U.S.

NEW YORK — Nearly seven miles below the Gulf of Mexico, oil company BP has tapped into a vast pool of crude after digging the deepest oil well in the world. The Tiber Prospect is expected to rank among the largest petroleum discoveries in the United States, potentially producing half as much crude in a day as Alaska’s famous North ...

Read More »