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Banking & Finance

Rural Lending Co-op hires new credit analyst in Ridgeland office

Southern AgCredit, ACA, a rural lending cooperative, recently hired Melanie Lien as a credit analyst in its Ridgeland administrative office. Lien joins Southern AgCredit with one year’s experience in the finance department of the Madison County School District. Previously, she worked for five years in credit/underwriting at a bank. Lien holds a bachelor’s degree in accounting from Mississippi College. Originally ...

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Feds and Mississippi fight over who should clean up fraud

The U.S. Securities and Exchange Commission and Mississippi’s secretary of state are fighting over who should collect assets and repay victims of a $100 million-plus fraud. Arthur Lamar Adams pleaded guilty last week to one count of wire fraud. Authorities say the 58-year-old Jackson resident persuaded investors to loan him money, promising interest rates of 12 percent to 15 percent ...

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Jury out on whether tax cuts have resulted in more investing

By BECKY GILLETTE The recent GOP tax cuts have put more money in the pockets of some workers who are now having less federal tax deducted from their paychecks. And some taxpayers such as those with Subchapter S corporations might end up with a windfall because of changes in the tax law. It has been estimated that three quarters of ...

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Time to look ahead at 2019 tax year

By CALLIE DANIELS BRYANT Pencils down. Papers filed. Tense shoulders can now relax – we’re a month past the 2018 tax deadline, unless your tax return was smaller than hoped, or worse, you owe IRS.  It’s never too early to plan ahead on how you can have a better tax season by 2019’s deadline, so we spoke to accountants and ...

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Cadence Bank, State Bank Financial Corp. announce merger

Cadence Bank and State Bank Financial Corp. are announcing a merger. Al.com reports that Cadence Bank’s corporate headquarters will move from Birmingham, Alabama, to Atlanta following the merger. The combined company will have about 100 branches serving Texas, Georgia, Florida, Alabama, Tennessee and Mississippi. The deal is expected to be finalized later this year. Al.com reports that Cadence Bank CEO Sam Tortorici ...

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Credit union and loan fund win financial inclusion award

A Mississippi-based credit union and associated loan fund have been named the winner of The Wall Street Journal’s financial inclusion challenge. Hope Enterprise Corp. and Hope Credit Union announced the win last week. Hope operates in Mississippi, Alabama, Arkansas, Louisiana and Tennessee. It was recognized for providing financial services in small towns in the Mississippi Delta that traditional banks have ...

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The First promotes Mit Cole

Mit Cole has been promoted to Senior Vice President in Private Banking for The First, A National Banking Association in Hattiesburg. He is the former President of the Jones County Market for The First in Laurel. Cole, his wife Amber Taylor Cole, and their 15-month old daughter Vivian Ruth live in Ellisville and are members of First United Methodist Church. ...

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Jenkins Graduates from Cannon Financial Institute as an honor graduate

Ryan Jenkins, Internal Audit Manager with Renasant Bank, was among 36 professionals who attended the Trust Audit, Compliance and Risk Management (TACRM) School offered by Cannon Financial Institute. TACRM School is a three-year program consisting of 38 hours of classroom instruction each year, and diplomas are awarded upon completion of the program. Additionally, Jenkins successfully completed the program with the ...

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Mississippi senator confirms he lost money in fraud scheme

U.S. Sen. Roger Wicker said Thursday that he is among the victims of a Mississippi-based fraud that officials say involved more than $100 million. Wicker, a Republican from Tupelo, told The Associated Press he had invested in what was supposed to be the rights to cut timber. Federal prosecutors charge it was a Ponzi scheme, though, with a Jackson man ...

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