Posted on 10/12/2008 2:24:55 PM PDT by Islander7
While many Americans in other parts of the country feel they're getting the cold shoulder from lending institutions, South Mississippi banks and credit unions say they welcome those seeking loans for homes and cars.
"We are lending money," said Cheryl Johnson, community bank president of Regions Bank. "Our credit standards have tightened, but we are lending, just not approving as many."
Conservative banking practices across the Coast have contributed to the calmer atmosphere, she said.
"The Coast is a little bit insulated. South Mississippi has not been a part of that," she said, referring to subprime mortgage loans that have led to problems for banks in other parts of the country.
"We're a plain vanilla bank. We don't do exotic loans," Johnson said. "We encourage people to apply for loans. We have a lot to offer, but we also want to lend it safely."
At Keesler Federal Credit Union, business is better than a year ago.
(Excerpt) Read more at sunherald.com ...
Small-business loans are also doing well, according to Hancock Bank officials.
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http://www.hancockbank.com/
A soundly managed, conservative bank can thrive.
Their moto is: Follow the LIGHT
Mississippi = New Land of Opportunity!
Isn’t the the state that took a more direct hit by Katrina, yet the media harldy noticed the devastation there?
Mississippi is putting it’s state back together without fanfare and by working together. What a concept. They didn’t sit around on their duffs waiting for someone else to do it for them.
Great people here.
Same in Louisiana, Texas, Alabama, Florida, Carolinas, et. al.
Disasters create unique problems.
Thank goodness that Ms. had the ability to turn theirs into a unique solution.
“...Mississippi = New Land of Opportunity!...”
Yeah, but we need to erect a filter at every entry point to weed out the liberals.
The Coast is going to come back strong, if McCain is elected. I fear we will be singled out for some serious retribution should the 0 and his minions achieve power.
Obama and the liberals are undoing 40 years of racial healing. You’d be surprised and amazed at the number of Joe six pack blacks who resent him.
very good news to read.
Mississippi, and now LA - good government happening.
Please God send that good government to NC!!!
I’m beginning to wonder if most of this “financial crisis” is occurring with lending institutions in blue states? What the heck, the liberals have thoroughly ruined everything else there.
The banks and credit unions here in red state Idaho are doing well.
Arkansas?
Try searching "foreclosure map" - yep, most foreclosures are on the coasts. Some in other big city areas such as Dallas, Denver, Miami, etc.
Yep, I carpool with a black man, and I mean a real, hard working, blue collar gentleman that does not drink, cuss or smoke. He HATES liberals and says: "many of my "brothers" need to be put down, as there is no good in them". His words, not mine.
I would love to have him as my neighbor. (I actually have a white lawyer next door that I would gladly trade)
Yes. Haley Barbour rose to the occasion before and after. Too bad the good folks in Louisiana did not have such strong leadership.
You caught me—appropriated the motto.
Love Arkansas as well, ancestral home.
many community banks are insulated from the current financial crisis. The problem will be in the coming months as the economy slows down. Once the storm in the financial market abates, we’ll be dealing with the economic fallout for a year or two at least, perhaps longer.
somewhat, although Arizona and Florida have also been hit hard.
“...many community banks are insulated from the current financial crisis. The problem will be in the coming months as the economy slows down. Once the storm in the financial market abates, we’ll be dealing with the economic fallout for a year or two at least, perhaps longer....”
And that is a very good argument against 0bama’s tax hikes.
His ‘plan’ is to issue ‘credits’ to the 40% of IRS filers who do not pay income taxes. It is a slight of hand way to expand the welfare state; take from the producers, give to the dependents.
He will wreck the economy for decades. Just like FDR did.
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OTS!!!!
And one of those lights is Senator Richard Shelby.
He told the truth about the bail out in his speech on the Senate Floor. And then voted against it.
Former chair of the banking committtee, he has been a leader to Mississipi Banks, and it shows!
Now the moonbats are running many of the nations banks.
Which is why many of us do not use "those" banks.
OTL!
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Kudos Old Miss!
I work for a credit union in Florida and we're in fine shape also.
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