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Mississippi banks ready to assist with CARES Act’s Paycheck Protection Program Loans

As the novel coronavirus (COVID-19) disease continues to impact communities across the country, Mississippi banks are working around the clock to assist borrowers, including through the new Coronavirus Aid, Relief, and Economic Security (CARES) Act. Late yesterday evening, the U.S. Treasury Department and Small Business Administration issued further guidance for the CARES Act’s Paycheck Protection Program (PPP), which will provide ...

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State’s banks adapting business model to deal with COVID-19

By LYNN LOFTON Banks, like all businesses, are adapting their business model to the reality of dealing with the COVID-19 pandemic. For some that means giving special consideration to customers who miss loan payments due to unemployment. Another change is limiting transactions to drive-through windows and inside banking by appointment. One of those financial institutions making a change is Gulfport ...

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BancPlus completes acquisition of State Bank and Trust

BancPlus Corp., parent of BankPlus, announced on Wednesday the completion of its previously announced acquisition of State Capital Corp., parent of State Bank and Trust Company. The BankPlus acquisition creates the state’s sixth-largest bank based in Mississippi, with 80 branches throughout Alabama, Mississippi and Louisiana. As of Dec. 31, 2019, the combined company has approximately $4.1 billion in assets, deposits ...

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BancorpSouth’s Rollins commits to CEO Action for Diversity & Inclusion

BancorpSouth Bank (NYSE: BXS) has joined the CEO Action for Diversity & Inclusion™, as a declaration of its commitment to cultivating a diverse and inclusive workplace. BancorpSouth Chairman and CEO Dan Rollins joins the more than 900 CEOs—across 85 industries—who have agreed to implement a pledge to advance diversity and inclusion and create workplaces where diverse perspectives and experiences are ...

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Mississippi Farm Bureau Employees Credit Union becomes part of Keesler Federal

Keesler Federal Credit Union continues its strong growth and branch network expansion with the merger of the Mississippi Farm Bureau Employees Federal Credit Union. The MFBEFCU became part of Keesler Federal on February 1, 2020, following a vote of the MFBEFCU membership and both companies’ boards, and approval by the National Credit Union Administration. The branch, located at 1401 Livingston ...

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Mississippi’s bankers convention canceled

The Mississippi Bankers Association Board of Directors has canceled the 2020 MBA convention scheduled for May 13-15 in Sandestin, Fla. The scheduled dates are just outside of the federal Center for Disease Control’s recommended eight-week ban of gatherings of more than 50 people, but according to the MBA “it’s too soon to tell what this pandemic will really bring to ...

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Hancock Whitney establishes new presence in Metro Jackson

Today, Hancock Whitney announced plans to expand into metropolitan Jackson by hiring a well-known, experienced team of local commercial bankers. Hancock Whitney will open a loan production office which the bank plans in the future to transition into a financial center focused on serving business and commercial clients throughout the region. Gulfport based Hancock Whitney, the largest bank headquartered in Mississippi, ...

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Keesler Federal names Brian Bates branch manager of new Mobile Westwood Plaza Branch

Keesler Federal Credit Union has named Brian Bates as Branch Manager of its recently opened Mobile Westwood Plaza branch, located at 7756 Airport Road, Suite 201. In his role Bates will oversee the daily operations of the branch, including assisting members with deposit and lending needs. He  also will represent KFCU in the community. Bates comes to Mobile from Pascagoula, ...

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Rural lending co-op hires chief financial officer 

Southern AgCredit, a rural lending cooperative, recently hired Richard Palmer as chief financial officer in its Ridgeland administrative office. Richard is a certified public accountant, and holds a bachelor’s degree from Mississippi State University and an MBA from the University of Mississippi. He is a member of numerous professional organizations, including state and national public accounting societies. He has 14 ...

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Regions Foundation announces $25,000 grant for Mississippi flood recovery

The Regions Foundation on Thursday announced a $25,000 flood-recovery grant to help people in Hinds, Madison and Rankin Counties affected by the recent Pearl River floods. Additionally, Regions Bank announced disaster-recovery financial services, including loan payment assistance, to help people and businesses during the recovery. “While several communities were spared the worst of the flooding, we must remember that many ...

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