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Tag Archives: finance

BankPlus’ payday lending alternative notches top American Bankers Association award

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By TED CARTER Ridgeland-based BankPlus’ has won acclaim across Mississippi for  turning into customers people who thought a bank loan or even checking account was beyond their reach. Now, the $2.5 billion privately held bank is getting recognized on a national stage for bringing financial services to more than 22,000 unbanked or under-banked Mississippians. BankPlus will be honored in Los Angeles ...

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Regions, Trustmark in annual rivalry for Mississippi’s deposits

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By TED CARTER Nearly one out of every three Mississippians park their money at either Regions Bank or Trustmark National Bank, a trend that goes back more than 10 years, FDIC figures show. Together, the two banks accounted for about $14 billion of the state’s total bank deposits of $49.6 billion from June 30, 2014 through June 30 of this year. ...

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(MBJ-TV) ALAN TURNER — Alon Bee a banker and an optimist

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One seldom meets an executive who has essentially spent an entire career with one company, but Alon Bee can make that claim.  Although he started out working with banks that were then acquired by other banks and so on, he’s stayed the course through the years, and is today, the city president for Regions Bank’s Metro Jackson division. In his ...

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CFPB to lift curbs on small banks’ non-conventional mortgage lending

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By TED CARTER The U.S. Consumer Financial Protection Bureau has backed off enacting new mortgage rules that would make nonstandard home loans, including balloons, legally risky for small lenders in rural and under-served areas. The action comes as a relief for credit unions and small community banks in rural and small-town markets that had worried they would lose legal protections for ...

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COMMERCIAL FINANCE 701 — Doing business with the Government

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  The Founding Fathers would be dumbfounded if they could see our gigantesque government structure. This behemoth annually spends in excess of $6 trillion protecting, regulating, arbitrating, purchasing, managing, lending, insuring, competing, and, more recently, joining public–private partnerships. One of every six full-time U.S. workers is a local, state or federal governmental employee.  Inevitably, doing business will involve contact with ...

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MARK BLACKWELL — Business succession planning cannot wait

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According to a Wells Fargo/Gallup survey of small-business owners, they work an average of 52 hours each week, over 30 percent more than a full-time employee.  More than half of these entrepreneurs have gone without a paycheck at some point to keep their company’s doors open.  They make these sacrifices because they know that a great idea, a strong business ...

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ITS A DEAL — Small business lending in the state is on the rise, including Mississippi’s first SBA microlender

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By BECKY GILLETTE While the recovery from the recession has taken longer than hoped, increases in U.S. Small Business Administration loans in the state are a sign the economy of Mississippi is on the upswing. Through the third quarter of the federal fiscal year, the SBA Mississippi District saw loans surpass $100 million, representing an increase in lending to small ...

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BANKERS READY TO BUILD — 200 volunteers from 9 financial institutions to work together at Habitat house

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By LISA MONTI  Nine Jackson area financial institutions will join together for the first time as a team to build a Habitat for Humanity Mississippi Capital Area home in a south Jackson neighborhood. The banks all have supported Habitat by building houses, sponsoring events and serving on boards and committees, but this year’s build will be the first time employees ...

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Lawmakers, small businesses take steps to blunt IRS rule

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By JACK WEATHERLY  Lisa Cochran, owner of two hair salon and spa shops called The Studio in Hattiesburg, said that she has been helping her employees for years by contributing $50 a month toward their health coverage premiums. Then she saw an article in the Mississippi Business Journal and has taken steps to avoid a calamity. She realized that she ...

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