Home » Tag Archives: banking and finance (page 5)

Tag Archives: banking and finance

First M&F to close five branches, four in Mississippi

KOSCIUSCKO — First M&F Corp., the parent of Kosciusko-based M&F Bank, will close five branches and reduce staff. Chairman/CEO Hugh Potts Jr. tells The Clarion-Ledger that the bank’s intent is to now focus on a few locations to achieve higher levels of performance and efficiency. M&F Bank will close a branch in in Ridgeland and one in Jackson during the ...

Read More »

Merger with Community Bancorp creates 'new' Cadence

STARKVILLE — Community Bancorp will merge its banking subsidiaries, Superior Bank, N.A. and Cadence Bank, N.A., into one strong regional bank on Nov. 11 to form the new Cadence Bank, N.A. At the same time, Community Bancorp, LLC, will now be known as Cadence Bancorp, LLC. With nearly $4.1 billion in assets, the new bank will employ 1,200 people at ...

Read More »

Ex-judge to be sentenced for mortgage scam

GREENWOOD — Former Greenwood attorney and judge Bobby Fisher will be sentenced tomorrow for his role in a mortgage scam. The Greenwood Commonwealth reports Fisher is to appear before U.S. District Judge Henry T. Wingate in Jackson. In January 2006, Fisher and former real estate agent Jim Pruett pleaded guilty to a scheme of falsifying mortgage application documents. Pruett was ...

Read More »

City closes checking accounts, finds $300K

WAVELAND — The City of Waveland has closed 23 dormant checking accounts, two of which contained $300,000 donated to the city after Hurricane Katrina. City comptroller Janey Dudding tells the Sea Coast Echo the accounts were uncovered during a recent internal audit. Mayor David Garcia says one of the accounts was set up for donated funds, which were supposed to ...

Read More »

SBA offering loans to drought-impacted businesses

ACROSS MISSISSIPPI — The U.S. Small Business Administration’s 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 Mississippi as a result of drought and excessive heat that occurred from Jan. 1 – Aug. 30, 2011. “When the Secretary of Agriculture issues a ...

Read More »

Trustmark opens loan office in Birmingham

JACKSON — Trustmark National Bank recently expanded its mortgage division by opening a loan production office in Hoover’s Chase Corporate Center in Birmingham, Ala. “Alabama fits perfectly into our plans to extend Trustmark’s mortgage footprint from the solid customer base we have established during the last 20 years,” said Breck Tyler, Trustmark’s executive vice president of mortgage lending. Trustmark has ...

Read More »

Louisiana firm opens new office in Capital City

JACKSON — Chaffe & Associates Inc. of New Orleans has opened a full-service office in Jackson. Through this office, Chaffe will provide investment banking and advisory services to public and private businesses and community banks in Mississippi, including business valuation services for purposes such as estate planning, ESOPs and fair value accounting. John P. Hammond, former vice president of finance ...

Read More »

SBA proposes change in definition of small business

WASHINGTON — Proposed rules published for comment in The Federal Register by the U.S. Small Business Administration would adjust the size definition of small businesses in 52 industries in two broad categories of businesses, ranging from travel agencies and movie production to waste management. The proposed adjustments to size standards in 15 industries in Sector 51 of the North American Industry ...

Read More »

SBA-Mississippi sets another quarterly record

JACKSON — The U. S. Small Business Administration Mississippi District Office has set another record for federal fiscal year 2011 (Oct. 1, 2010 to Sept. 30, 2011). A total of 749 loans were approved for Mississippi small businesses totaling a record $274,032,500. Janita R. Stewart, district director of the SBA in Mississippi, said, “We also set a record in fiscal ...

Read More »

State's foreclosures up 27 percent over prior quarter

ACROSS MISSISSIPPI — Nearly 600 Mississippi homeowners reached the end of the line during the third quarter, losing their homes to foreclosure. That’s according to Irvine, Calif.-based RealtyTrac, which tracks foreclosure actions nationwide. RealtyTrac said 1,069 properties were targeted for some sort of foreclosure action from July through September. Of those, lending institutions took back 583 and the other 486 ...

Read More »