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Tag Archives: finance

Keesler Federal opens first branch in Petal

Keesler Federal Credit Union’s new branch in Petal is now open, the first Keesler Federal location in the Petal market. The new 3,200 square foot branch is located at 1119 Evelyn Gandy Parkway, just west of the Walmart Supercenter in front of Lowe’s. It will feature a commercial night depository and drive-through banking service. The Petal branch will be Keesler ...

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Some Mississippi residents eligible for mortgage settlement

The Mississippi attorney general’s office says about 270 state residents are eligible for payments from a settlement involving improper servicing of mortgage loans. Attorney General Jim Hood’s office said Wednesday that Mississippians will receive notification in the mail in the next few months if they are eligible. The money comes from a multimillion-dollar settlement with New Jersey-based mortgage lender PHH ...

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First Bancshares continues regional expansion

By JACK WEATHERLY Hattiesburg-based First Bancshares, holding company for The First, has signed an agreement to acquire Tallahassee, Fla.-based Sunshine Financial, parent of Sunshine Community Bank, in a stock and cash deal of about $32 million. The deal is a continuation of First Bancshares plan to grow a territory staked out in 2009, stretching north to Jackson, south to the ...

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Mississippi bank to buy Florida institution for $32M

An acquisitive Mississippi bank is buying a bank in Florida’s capital city. The First Bancshares Inc. of Hattiesburg announced Wednesday that it’s buying Sunshine Financial Inc. of Tallahassee, Florida for $32 million in stock and cash. It owns Sunshine Community Bank, with five offices and $194 million in assets. Stockholders will get 75 percent stock and 25 percent cash. The ...

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Mississippi bank to shift shares to over-the-counter market

A south Mississippi bank will voluntarily shift trading in its stock from a small-company stock market to an over-the-counter exchange. Peoples Financial Corp. Chairman Chevis Swetman says in a statement that directors made the shift to cut costs. The company is the parent of The Peoples Bank, which operates 18 branches and has $657 million in assets. The last day ...

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Hope begins credit union at Provine High School

By JULIA MILLER Hope Federal Credit Union is working toward making the future brighter by providing Provine High School students with the knowledge of financial tools and services that can help them gain success. By opening the first student-run credit union branch in Jackson, it is giving business academy students the opportunity to hone what they have learned in the ...

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First Bancshares to buy Ala. bank, doubles income through acquisitions

The First Bancshares Inc. of Hattiesburg announced Tuesday that it will buy an Alabama bank for $60 million, expanding its footprint in southwest Alabama.  First Bancshares says it will acquire Southwest Banc Shares Inc. of Chatom, Ala., paying $36 million in stock and $24 million in cash. The Mississippi bank seeks to sell $45 million in stock, in part to ...

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CDFI funds help underserved areas thrive

By JULIA MILLER Some might say money makes the world go round, but access to money is linked to something more important — creditworthiness. When access to traditional bank loans is limited, those in economically distressed areas turn to the unsavory side of predatory loans. By taking advantage of federal funding, Community Development Financial Institutions are working to make sure ...

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Keesler Federal Credit Union celebrating 70th anniversary

By BECKY GILLETTE In 1947, ten civil service employees working at what was then Keesler Field realized a need for wage board employees to have an opportunity to accumulate savings and have access to affordable credit. They were granted a charter for Keesler Federal Credit Union (KFCU) that year, and in a year had grown to about 270 members and ...

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