Home » Tag Archives: banking and finance (page 3)

Tag Archives: banking and finance

Regions selling Morgan Keegan to Raymond James for $930M

BIRMINGHAM, Ala. — Regions Financial Corp. has entered into a stock purchase agreement to sell Morgan Keegan & Company Inc. and related affiliates to Raymond James Financial Inc., for $930 million. As part of the transaction, Morgan Keegan will also pay Regions a dividend of $250 million before closing, pending regulatory approval, resulting in total proceeds of $1.18 billion to ...

Read More »

Ross King Walker now Hancock Insurance

HATTIESBURG — Hancock Bank has renamed Hattiesburg-based Ross King Walker as Hancock Insurance Agency. Hancock Bank acquired 103-year-old Ross King Walker (RKW) in 2004, and RKW retained its name as a division of Hancock Insurance Agency, a wholly owned subsidiary of Hancock Bank founded in 1902. RKW executives said the decision to rename RKW as Hancock Insurance Agency reflects the ...

Read More »

Keenum sentenced to 22 months for bank fraud

BOONEVILLE — Once prominent attorney Thomas D. Keenum Sr. of Booneville has been sentenced to 22 months for federal bank fraud. The 73-year-old Keenum pleaded guilty in August 2010 to a scheme to defraud BancorpSouth of Booneville through a $135,447 loan. He faced up to 30 years in prison and $1 million in fines. The Northeast Mississippi Daily Journal reports ...

Read More »

Two counties declared disaster areas by SBA

ITAWAMBA COUNTY and MONROE COUNTY — The U.S. Small Business Administration announces today that federal economic injury disaster loans are available to small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private non-profit organizations of all sizes located in Itawamba and Monroe counties in Mississippi as a result of the excessive rain, flooding, flash flooding, hail, high ...

Read More »

Resort officials say security breach reports inaccurate

PHILADELPHIA — Officials with Pearl River Resort has issued a statement on reports regarding a potential breach in security of the processing system for credit and debit cards at the Pearl River Resort. Officials say reports have not been wholly accurate. Guests’ personal financial information is secure and protected, and no ATMs were affected during the time period under scrutiny. ...

Read More »

Ex-Hancock auditor to be sentenced for fraud

GULFPORT — A former Hancock Bank auditor is scheduled for sentencing in January for defrauding the bank of $143,000 over a two-year period by converting portions of collections into money orders. Lisa Brooks sentencing hearing is scheduled for Jan. 10 in U.S. District Court in Gulfport. Authorities say the Gulfport woman faces a maximum penalty of 30 years in prison ...

Read More »

Barbour budget proposes education consolidation

Republican Gov. Haley Barbour calls for reducing the number of school districts and merging some universities, reviving many of his past recommendations in his final Mississippi budget proposal. He also suggests spending the $97.4 million remaining in a health care trust fund that was created before he took office. Barbour released his nearly $5.5 billion budget Tuesday. His second term ...

Read More »

State's action against Morgan Keegan workers settled

JACKSON — An administrative action against Morgan Keegan & Company employees and Morgan Asset Management employees, Brian B. Sullivan, Gary Stringer, and Michele Wood has been resolved with the State of Mississippi, according to the Secretary of State’s Office. No Mississippi Morgan Keegan brokers were involved in this action. The order resolving the case is available on the Secretary of ...

Read More »

Homeowners eligible for FHA loan program

BILOXI — Biloxi residents learned this week about an FHA loan program that will let them borrow up to $271,050 to buy, refinance or improve their homes. The Sun Herald reports the Federal Housing Administration 203(k) loan program is designed to rehabilitate the nation’s older homes. Bo Smith, a mortgage financing expert from Jackson, says many of the homes in ...

Read More »