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McCarty named Assistant VP at Community Bank

Lee McCarty has been named Assistant Vice President. A native of Meridian, McCarty recently served as Loan Officer and has been in banking for four years. In his new role, McCarty will continue to manage and grow loans and deposits in the Forest market. McCarty is a graduate of Mississippi College with a Bachelor in Business Administration and a graduate ...

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Mississippi Credit Union Association announces board

The Mississippi Credit Union Association re-elected four members to its board of directors. The twelve-member MSCUA Board represents the association’s seventy-three member credit unions in Mississippi. Four directors were re-elected to three-year terms: Sheila Bridges, CommFirst FCU (Jackson); John Gibbons, Triangle FCU (Columbus); Chris Hammond, Sunbelt FCU (Laurel); and James B. Smith, Jr., Singing River FCU (Moss Point). The MSCUA ...

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Rural Lending Co-op hires Shepherd

Southern AgCredit, a rural lending cooperative, hired Hayes Shepherd as a collateral evaluator trainee in its Ridgeland administrative office. Shepherd was a summer intern at Southern AgCredit in 2018, and recently graduated from Mississippi State University with a bachelor’s degree in finance with a concentration in risk management and insurance. He is a native of Flora.

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COMMERCIAL FINANCE 701 — The project equity morass

Ample equity is to project construction what grain is to whiskey. Equity can jumpstart a project and satisfy a critical lender financing requirement.  But just how much equity, from where, and at what price? Our hypothetical project is a 120-unit, to-be-constructed apartment complex on land under contract. Our developer has, wisely, formed a new single purpose entity, which we will ...

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Stocks rise after US deal with Mexico; car companies rise

U.S. stocks moved broadly higher in early trading Monday on Wall Street after the U.S. and Mexico averted a trade war and potentially damaging tariffs, while several companies inked billion-dollar deals. The solid opening follows the strongest week for stocks since November. U.S. President Donald Trump suspended plans to impose tariffs on Mexican goods after the nations managed to strike ...

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US stocks edge higher as investors wait for trade updates

Major U.S. stock indexes edged mostly higher in afternoon trading Thursday as investors await signs of progress in trade negotiations between the U.S. and Mexico. The muted trading followed two days of gains driven by investors betting that the Federal Reserve could cut interest rates this year. Fed Chairman Jerome Powell said Tuesday that the central bank would “act as ...

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PriorityOne Bank promotes McGee

PriorityOne Bank announced the promotion of Rebekah McGee. McGee will be serving as Assistant Vice President and Document Management Manager for PriorityOne. Rebekah has been with PriorityOne Bank since November of 2007. She has served in many areas of the bank, most recently, Document Management Supervisor. Rebekah has also served her community in multiple leadership roles. She is a member ...

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PriorityOne Bank welcomes Oates

PriorityOne Bank announced the hire of Rob Oates, Jr. Oates will be serving as Vice President and Commercial Lender for PriorityOne at their Brandon Location. Oates has 12 years of banking experience and holds a Bachelor of Science in Business Administration from Mississippi College. He serves as a board member for the Flowood Chamber of Commerce where he was the ...

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Types of jobs in banking expected to change with increasing adoption of artificial intelligence

By BECKY GILLETTE A hot topic in banking circles is how much artificial intelligence (AI) will impact employment in the banking industry. One study reported in American Banker magazine predicts that 70 percent of front-office jobs will be replaced by chatbots, voice assistants and automated authentication and biometric technology. And steep job losses are also predicted for financial management, compliance ...

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Liberty Bank is the only black-owned bank operating in Mississippi

By BECKY GILLETTE While Mississippi’s population is 37 percent black, there is only one black-owned bank operating in the state, Liberty Bank and Trust Company. “We have a saying, ‘We are more than just a bank’,” said Ann D. Duplessis, senior vice president, retail banking, Liberty Bank and Trust Company. “We truly believe in providing access to capital to strengthen ...

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