Tag Archives: Investors

BancorpSouth, Inc., is bolstering its audit committee with the addition of Warren A. Hood, Jr. The bank├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Board of Directors approved Hood as its replacement for former board member, R. Madison Murphy, who recently resigned from the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós directorship and was a member of the audit committee. Hood is the CEO and chairman of the board for his own enterprise, Hood Companies, Inc., which is comprised of three separate corporations. Current operations within Hood Companies include the manufacturing and distribution of building materials, consumer packaging products, and industrial packaging needs.

SunTrust is going global with United Way Worldwide. Recently named as a Global Corporate Leadership partner for the philanthropic organization, SunTrust has committed a $2.88 million gift from its SunTrust Foundation to the cause. Additionally, SunTrust already contributed $8.4 million during 2010, $4 million of which was pledged by the company's employees, and logged more than 100,000 volunteer hours with United Way via SunTrust's Solid Gives Back initiative.

The Federal Reserve Bank of Cleveland has released its commentary on the broader economic effects of the recent closure of local bank branches, as lenders struggle to maintain bottom line viability in the marketplace. The brief, developed by Emre Ergungor and Stephanie Moulton, is titled, Do Bank Branches Matter Anymore?, and the authors├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó conclusions indicate that the general answer to that large and looming question is a resounding yes, with considerable social impact as a net loss in communities.

A recent ruling by U.S. Court of Appeals in Washington, D.C., faulted the Securities and Exchange Commission for failing to perform a sufficiently thorough economic impact analysis before it moved forward with a new rule, according to Bloomberg News. The decision could roll over onto provisions established by the Dodd-Frank Act, delaying those provisions and preventing new rules from going into effect. Analysts say the court ruling may delay more Dodd-Frank rules.

Reforming Fannie Mae and Freddie Mac without anticipating changes from new limits to government-backed mortgages could make the fixed-rate mortgage a less available product, witnesses told lawmakers Wednesday.

Making the annual list of industry technology leaders for another consecutive year, Financial Industry Computer Systems, Inc., got named to the Top 50 Service Providers, compiled yearly by Mortgage Technology.

Carrington Mortgage Services, LLC, is expanding via newly acquired assets from American Home Equity Corp. (AHE). Focused on growing its origination component, Carrington structured its purchase deal with AHE to enhance the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós wholesale retail channel.

Canada may soon face a housing bubble crisis not unlike the one still felt by its southern neighbor, with a possible burst threatening to soak pockets of the U.S. economy that rely on purchases by overseas homebuyers.

Total bank failures leveled out at 61 over last week as three more financial institutions faced closure and acquisition by other banks. The failures and acquisitions left the FDIC with a total $253.4 million tab.

Big news abounds at Total Mortgage Services, LLC, with two major recent announcements focused on the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós retail channel. Total Mortgage is amping up its staff with 50 new loan officers, and in addition, has just launched its Home Loan Program through the Agriculture Department.