BancorpSouth of Tupelo, Miss. announced Monday that it will buy the
The $5.5 billion-asset banking company said Stewart Sneed Hewes Group in
"We saw that it would be a good fit in being able to expand the lines
The 100-year-old agency has 105 employees and is one of the 75 largest
Financial terms of the stock-swap deal were not disclosed. The agency
Stewart Sneed also sells life, health, and employee benefit coverage at
Powered by younger, affluent cardholders, American Express saw a 6% increase in billed business during the first quarter, while weak growth still plagues its small-business segment.
For the better part of the past decade, the Federal Reserve Board in Washington has played a more active role in presidential searches by regional reserve banks. The shift seems to have made the system more diverse, but some argue it's at the expense of regional bank independence.
Beth Johnson, a self-described math geek, is driving the bank's ESG strategy and training its employees to keep pace with industry trends.
The Cleveland-based bank is projecting steady growth in net interest income even as credit losses remain manageable. But Chairman and CEO Chris Gorman also said that he thinks a recession is likely.
The first-quarter increase involved commercial real estate loans, including some problematic multifamily loans and an office credit, but none of the criticized loans were to consumers, officials at the Dallas company say. Further CRE deterioration is anticipated.
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
