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Tag Archives: Banking & Finance

COMMERCIAL FINANCE 701 — Loan guaranties: Skin in the game

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M any a furl-browed borrower has questioned a bank’s need for guaranties.  The borrower – excited about his can’t-miss venture – may be slightly offended that the bank even thinks a guaranty is necessary and, contradictorily, hesitant to put his net worth on the line.  Today’s bank – making loans at historically low rates but all too cognizant of several ...

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Jackson issues RFP in 3rd try for convention center hotel developer

The Jackson Redevelopment Authority is taking a third swing at getting a convention center hotel built. With the backing of Jackson Mayor Tony Yarber, the JRA late last month issued a Request for Proposals for a hotel of at least 300 rooms on Pascagoula Street across from the Jackson Convention Complex, an approximately 300,000 square-foot conventions and meetings center which opened ...

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Multi-family, health care construction are backbone of mid-range lending

Ben Williams, real estate law specialist and Watkins & Eager managing member, has been hopping the past year helping Mississippi developers put together projects requiring mid-range loans of $5 million to $50 million. But next month? “I’m not prepared to tell you I’ll be busy,” said Williams, who is in his 28th year practicing real estate law in Jackson. Yes, ...

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Mississippi banks continue gains in operating income

Mississippi’s 86 FDIC-insured financial institutions ended the final quarter of 2013 with a year-over-year quarterly gain in operating income of $16 million, joining their counterparts nationally in making gains the FDIC attributed to lower expenses for loan-loss provisions and money put aside for litigation. While the $16 million may seem insubstantial, the $538 million total in net income marks a ...

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MEC disputes DOR’s costs estimate on business tax bills

A price tag of $7.5 million this year and $25 million next year accompany a pair of pro-business tax apportionment bills that have cleared Mississippi’s House and Senate with overwhelming support. The Republican-sponsored measures, HB 799 and SB 2487, force the Department of Revenue’s to justify basing a multistate company’s taxes on revenue generated in the state. The measure also ...

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