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Banking & Finance

State's non-current loans still high

The latest Mortgage Monitor report released by Lender Processing Services Inc. shows that the total number of delinquent loans was 21.3 percent higher than the same period last year. Although the data showed a small 1.45 percent seasonal decline in delinquencies from Jan. 2010 to Feb. 2010 month-end, the national delinquency rate still stood at 10.2 percent. The report is ...

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Ridgeland firm educates lenders on details

Program goal to educate and provide networking opportunities between developers, development entities and lenders The Ridgeland law firm Butler Snow recently hosted a seminar aimed at educating lenders, developers and investors and community representatives on the advantages of the New Markets Tax Credit Program. The New Markets Tax Credit (NMTC) program aids development in low-income communities by providing a tax ...

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Newer programs, credits available

New homeowner credits are still available for longtime homeowners As taxpayers prepare to meet the looming April 15 deadline to file 2009 income tax returns, one accountant provided insight to newer programs and credits available this year. Becky Covington, a tax partner with Haddox, Reid, Burkes and Calhoun in Jackson, said there are several programs taxpayers should be aware of. ...

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Sanderson completes stock offering

LAUREL — Sanderson Farms Inc. has closed its underwritten registered public offering of 2.3 million shares of its common stock, including 300,000 shares issued in connection with the underwriters exercise of their over-allotment option following the pricing of the offering. The offering price to the public was $53 per share. Sanderson intends to use the net proceeds from the offering, ...

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Hancock Bank donates to INFINITY

GULFPORT — Hancock Bank will give $500,000 toward completion of INFINITY at NASA Stennis Space Center in Hancock County. Bank officials presented the first $50,000 installment of the 10-year commitment April 6. “Hancock Bank is honored to facilitate a project that further secures our Gulf Coast as an international center of opportunity. This chance to partner with many distinguished leaders ...

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ABA reports loan delinquencies declining

WASHINGTON – Consumer loan delinquencies fell in eight of 11 loan categories in the fourth quarter of 2009, marking the second quarter in a row of broad-based improvement, according to the American Bankers Association’s Consumer Credit Delinquency Bulletin. The composite ratio, which tracks eight closed-end installment loan categories, fell four basis points to 3.19 percent of all accounts compared from ...

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Three charged with counterfeiting

NATCHEZ — Three Natchez residents have been charged with forgery in a counterfeiting scheme that police say targeted businesses in Mississippi and Louisiana. Police Chief Mike Mullins says Christopher L. Young, Damon Hargrave and Geovannia R. Logan are each charged with one count of forgery. They were being held in city jail pending an initial court appearance. Mullins tells the ...

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SBA warns of uptick in loan scams

WASHINGTON — The U.S. Small Business Administration (SBA) is warning small businesses to use caution if they are contacted by firms offering to help them apply for funds available through SBA programs. SBA and SBA’s Office of the Inspector General (SBA OIG) have received several complaints from small businesses about abusive marketing practices, scams and exorbitant fees charged by firms ...

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BancorpSouth wins two regional awards

TUPELO — BancorpSouth Inc. has been recognized by financial services consulting firm Greenwich Associates with two regional awards for overall satisfaction from bank customers. The first regional Greenwich Excellence Award was based on results in 2009 from 13,000 interviews with national businesses having sales of $10 to $500 million annually. The second Greenwich Excellence Award was for small business banking ...

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Banking on the Medical Mall district

Liberty Bank chooses blighted are to make biggest impact   Once thought by many lost to the scourges of crime and poverty, the Jackson Medical Mall district is seeing signs of a transformation. One of the major players in the area’s resurgence is Liberty Bank and Trust Company, the state’s only African American-owned bank and the third-largest minority financial institution ...

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