Home » NEWS » Banking & Finance (page 243)

Banking & Finance

Ex-bank bookkeeper charged with stealing

HARRISVILLE — Federal authorities say a former bookkeeper has been charged with manipulating a bank’s computer system to steal more than $250,000. The FBI and U.S. attorney’s office in Jackson said Feb. 18 in a news release that 33-year-old Lindsay Welch of Harrisville was a bookkeeper at Copiah Bank in Hazlehurst. The news release said she manipulated the computer system ...

Read More »

Morgan Keegan holds on to top spot

MEMPHIS — Morgan Keegan & Company Inc. was the eighth leading underwriter of municipal bonds in the country for 2009, serving as book running manager on 578 issues with a par amount of $12.8 billion, according to Thomson Reuters. The firm was the 10th leading underwriter in 2008. Morgan Keegan was also the leading underwriter in the nation in terms ...

Read More »

PNC pays back $7.6B for TARP

WASHINGTON — The U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in PNC Bank in the sum of $7.6 billion, bringing the total amount of repaid TARP funds to more than $173 billion. Treasury now estimates that total bank repayments and proceeds from sales of its common stock in banks should exceed ...

Read More »

Parkway fires CFO, stock tumbles

Parkway Properties Inc. (PKY US) fell 13.78 percent to $17.20, after sinking as much as 13 percent, the most intraday since April 20. The real estate investment trust reduced its annual dividend to 30 cents a share from $1.30 and said it fired J. Mitchell Collins as chief financial officer.

Read More »

MGM Mirage amends credit facility

LAS VEGAS — MGM Mirage is seeking amendments to its aggregate $5.55 billion of senior credit facilities, which would extend the maturity of a substantial portion of those credit facilities from Oct. 3, 2011, to Feb. 21, 2014. The company has asked its lenders to provide their final approvals of the transaction by Feb. 24. Lenders approving the proposed amendments ...

Read More »

ECD/Hope to accept TARP funds

JACKSON — On Feb. 4, Treasury Secretary Tim Geithner outlined the details of a new program under the Troubled Assets Relief Program (TARP) that will provide community development financial institutions (CDFIs) with up to $1 billion to make more loans to small businesses in some of the communities hit hardest by the economic crisis. ECD/HOPE (Enterprise Corporation of the Delta/Hope ...

Read More »

Liberty Bank opens another office

JACKSON — Liberty Bank and Trust Company recently held a grand opening of its new branch at 2325 Livingston Road in Jackson. Liberty Bank and Trust Company, is the only African-American owned bank in the State of Mississippi and the third largest African-American owned bank in the United States. The bank operates 21 branches in six states and nine cities. ...

Read More »

The debate and facts of the Healthcare Trust Fund

I have written on the following subject before but with little effect.  I am not naive enough to think the subject I am writing on will change because of me, but I am hopeful that I might spur some intelligent conversation between people with a vested interest (that would be anyone who lives in the State of Mississippi) and influence ...

Read More »

President wants SBA loan expansion

WASHINGTON — In an effort to create more jobs, President Barack Obama will ask Congress to temporarily expand two lending programs for the owners of small businesses, an administration official said Friday. Speaking on the condition of anonymity because the president hadn’t yet announced the proposal, a White House official said the plan would temporarily increase the cap on U.S. ...

Read More »

Report finds loan delinquencies soaring

JACKSONVILLE, Fla. — The January 2010 Mortgage Monitor report, released by Lender Processing Services Inc. (LPS), showed that home loan delinquency rates in the U.S. have now surpassed 10 percent. Factoring in foreclosures in process, according to the data in LPS’ database, the total non-current rate sits at 13.3 percent. When extrapolated to reflect the entire mortgage industry, this rate ...

Read More »