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Tag Archives: banking and finance

Two counties declared disaster areas by SBA

ITAWAMBA COUNTY and MONROE COUNTY — The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Itawamba and Monroe counties in Mississippi as a result of the excessive rain, flooding, flash flooding, hail, high ...

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Resort officials say security breach reports inaccurate

PHILADELPHIA — Officials with Pearl River Resort has issued a statement on reports regarding a potential breach in security of the processing system for credit and debit cards at the Pearl River Resort. Officials say reports have not been wholly accurate. Guests’ personal financial information is secure and protected, and no ATMs were affected during the time period under scrutiny. ...

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Ex-Hancock auditor to be sentenced for fraud

GULFPORT — A former Hancock Bank auditor is scheduled for sentencing in January for defrauding the bank of $143,000 over a two-year period by converting portions of collections into money orders. Lisa Brooks sentencing hearing is scheduled for Jan. 10 in U.S. District Court in Gulfport. Authorities say the Gulfport woman faces a maximum penalty of 30 years in prison ...

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Barbour budget proposes education consolidation

Republican Gov. Haley Barbour calls for reducing the number of school districts and merging some universities, reviving many of his past recommendations in his final Mississippi budget proposal. He also suggests spending the $97.4 million remaining in a health care trust fund that was created before he took office. Barbour released his nearly $5.5 billion budget Tuesday. His second term ...

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State's action against Morgan Keegan workers settled

JACKSON — An administrative action against Morgan Keegan & Company employees and Morgan Asset Management employees, Brian B. Sullivan, Gary Stringer, and Michele Wood has been resolved with the State of Mississippi, according to the Secretary of State’s Office. No Mississippi Morgan Keegan brokers were involved in this action. The order resolving the case is available on the Secretary of ...

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Homeowners eligible for FHA loan program

BILOXI — Biloxi residents learned this week about an FHA loan program that will let them borrow up to $271,050 to buy, refinance or improve their homes. The Sun Herald reports the Federal Housing Administration 203(k) loan program is designed to rehabilitate the nation’s older homes. Bo Smith, a mortgage financing expert from Jackson, says many of the homes in ...

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HOPE approved as first Community Advantage lender

JACKSON — The U.S. Small Business Administration (SBA) has approved Hope Enterprise Corporation (HOPE) as its first lender in the Community Advantage Loan program in Mississippi. HOPE CEO Bill Bynum said, “For small, rural and minority entrepreneurs, financing can be the most elusive resource. With the Community Advantage program, we can help even more companies stabilize, grow and contribute to ...

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Metropolitan Bank opens another Memphis office

RIDGELAND — The Metropolitan Bank has opened its second Memphis, Tenn., office, located at 5264 Poplar Avenue in East Memphis. The new office, for which Metropolitan announced plans in July, will serve as an anchor for its professional and medical banking team, led by Holly Bronson, and the bank’s commercial banking team, led by Scott Hauss. It will employ more ...

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Trustmark signs agreement to buy Florida bank

JACKSON — Trustmark Corporation has signed a definitive agreement to acquire Panama City, Fla.-based Bay Bank & Trust Co. Under terms of the definitive agreement, the transaction is valued at $22 million, with $10 million of the consideration to be paid in cash and $12 million to be paid in common stock of Trustmark. The consideration represents approximately 85 percent ...

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