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Banking & Finance

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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Navigator Credit Union celebrates 80th anniversary

Navigator Credit Union is celebrating eight decades of serving the Gulf Coast, and this month the celebration centers around a special day in June. It was June 24, 1939, when seven shipyard workers met and planned to form a credit union to offer co-workers opportunities for saving and for loans. Today, Navigator is Mississippi’s largest state-chartered credit union. The Mutual ...

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Geddie named Assistant Vice President at Renasant

Renasant announced that Karen Geddie has been named Assistant Vice President. Geddie joined Renasant in 2017 as Employee Benefits Specialist. Geddie is a graduate of Peace College where she obtained her Associate of Arts degree in Music, and North Carolina State University with a Bachelor of Science degree in Industrial Engineering. She is a member of First United Methodist Church ...

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