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Banking & Finance

Intechra purchased by N.Y. firm

August 14, 2009 JACKSON — Environmental Capital Partners (ECP), a New York-based private equity firm, with its affiliates has acquired the assets of Intechra Holding Corporation (IHC), the independent IT asset disposition company. Terms were not disclosed. The IHC assets were purchased from its lender, Marathon Asset Management, through Intechra Group, LLC (Intechra), a newly formed company. Affiliates of Marathon have ...

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What now? An investment portfolio recovery plan

As we all have witnessed, the past year and a half has seen significant market swings and volatility.  The impact on your emotions and investment decisions has been just as significant.  With seemingly daily headlines of gloom and doom — the war in Iraq, inflation, fraud and seemingly endless government spending — it is often difficult to remain optimistic.  However, ...

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Credit unions have beaten back economy, to this point

The first two quarters have not been the best of times for Mississippi banks, with a lot of them posting substantial losses. It’s a local symptom of a national trend that has seen dozens of banks across the nation fail outright as the recession tightens its grip on financial institutions. One sector of the financial services industry that has beaten ...

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Young bankers: current environment not ideal

Students focusing on finance have seen job opportunities at financial institutions dwindle Gulfport resident Jason, who didn’t want his last name used, graduated five years ago with a degree in banking and finance and went to work for a large regional bank as a loan officer. He quickly found out that the customer service side of banking was not a ...

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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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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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