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Editorial Results (free)

1. Magna Bank Launches New Checking Product -

Magna Bank has announced a new checking account package called Prime Checking, which allows a wider range of the bank’s checking customers to earn interest on their account balances.

2. Mortgage Market Sees Small First-Quarter Gains -

Shelby County’s mortgage market started off 2014 a bit tame, not as chilly as the weather but not exactly bursting with energy either.

Local banks and mortgage lenders made 1,617 purchase mortgages during the first quarter, flat compared with the 1,624 mortgages during first quarter 2013, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

3. Hillview Village Apartments Sell for $5.9 Million -

2051 E. Alcy Road
Memphis, TN 38114
Sale Amount: $5.9 million

Sale Date: March 27, 2014
Buyer: 2013 Hillview LP
Seller: Alcy Partners LP
Details: The 265-unit Hillview Village Apartments at 2051 E. Alcy Road in the Defense Depot neighborhood have sold for $5.9 million.

4. Oak Court Mall Transferred To Simon Property Spinoff -

Simon Property Group has transferred ownership of the Oak Court Mall to Washington Prime Group Inc. as part of a planned spinoff of some of its shopping centers and smaller malls.

5. Industrial Portfolio Sells for $43 Million -

4550 Swinnea Road6005 Freeport Ave., 3399 E. Raines Road
Memphis, TN
Sale Amounts: $10.1 million; $14.8 million; $18 million

6. Mill Creek Apartments Owner Files $7 Million Loan -

The owner of the 448-unit Mill Creek Apartments at 4461 Millbranch Road in Whitehaven has filed a $6.8 million loan on the property.

7. Magna Bank Posts Positive 2013 Results -

Magna Bank enjoyed a strong 2013, with newly released results for the year including a 40 percent gain in net income from 2012 to 2013.

8. Magna Bank Posts Positive 2013 Results -

Magna Bank enjoyed a strong 2013, with newly released results for the year including a 40 percent gain in net income from 2012 to 2013.

9. Shelby County Mortgages Jump 12 Percent in February -

The latest monthly totals for Shelby County’s mortgage market show homebuying improved somewhat last month, with total mortgage volume up 12 percent compared to February 2013, according to real estate information company Chandler Reports,www.chandlerreports.com.

10. Shelby County Mortgage Market Dips in January -

Shelby County’s mortgage market entered 2014 in less of a turbo-charged fashion than it did at the same point last year.

New figures show total mortgage volume in the county was down 5 percent in January compared to January 2013, according to real estate information company Chandler Reports, www.chandlerreports.com. Data for this report did not include refinances.

11. Mortgage Market Grows 3 Percent in 2013 -

The mortgage market in Shelby County ended 2013 with a modest improvement over 2012, with signs pointing to more advances in 2014.

Banks and mortgage lenders made 8,298 purchase mortgages in Shelby County during 2013, a 3 percent improvement from the 8,027 mortgages during 2012, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

12. Magna Adds Controller, Promotes Employees -

Magna Bank has added a controller – and, at the same time, promoted a few employees in its retail banking and private banking divisions.

13. Magna Adds Controller, Promotes Employees -

Magna Bank has added a controller – and, at the same time, promoted a few employees in its retail banking and private banking divisions.

14. Bright Spot -

The Memphis multifamily market turned in a strong performance during 2013, with enhanced investor interest and new units under construction.

Blake Pera, senior vice president of CB Richard Ellis Memphis’ multifamily division, classified the multifamily market in 2013 as healthy and continuing to improve.

15. Mortgage Market Up 10 Percent in November -

Borrowers are still rushing to lock in low rates, take advantage of a seemingly improving economy and get those keys to a new home in their hands.

That’s what the latest monthly mortgage numbers would suggest, as do the mortgage industry professionals who say borrowers kept the phones ringing at pretty much a steady clip in November compared to the previous month and helped November see a 10 percent uptick in the county’s mortgage volume.

16. Methodist Pays $22.5 Million for Germantown Facility -

7945 Wolf River Blvd.
Germantown, TN 38138
Sale Amount: $22.5 million

17. Countryside Apartments Owner Files $5 Million Loan -

The owner of the 152-unit Countryside North Apartments at 6920 Reese Road in Northeast Memphis has filed a $5 million loan on the property.

18. Agape Helps Families Out of Homelessness -

Agape Child & Family Services continues to grow its Families In Transition program, which provides housing to homeless women who have children or are pregnant.

This year, the program will simultaneously serve 63 families, with an impact to more than 150 families.

19. Mortgage Market Up 12 Percent in October -

As the year is drawing to a close and the weather is cooling down, the local mortgage market keeps heating up. Continuing a trend that’s held somewhat steady, the market for mortgages in Shelby County continues to improve over the past year.

20. Campbell Clinic Pays $3.2 Million for Surgery Center -

255 Dr. Martin Luther King Jr. Memphis, TN 38104
Sale Amount: $3.2 million

21. Campbell Clinic Pays $3.2 Million for Surgery Center -

Campbell Clinic has paid $3.2 million for the Midtown Surgery Center at 255 Dr. Martin Luther King Jr. Ave.

22. Medical Office Facility Sells for $5.9 Million -

7865 Educators Lane
Memphis, TN 38133
Sale Amount: $5.9 million

Sale Date: Sept. 26, 2013
Buyer: GA HC REIT II Bartlett TN MOB LLC
Seller: APD Investments LLC, Robert S. Biscan, The Colony Group LP and Amir H. Mehrabi
Details: An affiliate of Newport Beach, Calif.-based Griffin-American Healthcare REIT II Inc. has paid $5.9 million for the medical office building at 7865 Educators Lane in Northeast Memphis.

23. Shelby County Mortgages Up 7 Percent in Third Quarter -

The gas tank of Shelby County’s mortgage market continues to be powered by the fuel of low interest rates and more of a willingness from lenders to make new loans.

Banks and mortgage lenders made 2,521 purchase mortgages in Shelby County during the third quarter, a 7 percent improvement from the 2,364 mortgages during the third quarter of 2012, according to the latest data from real estate information company Chandler Reports,www.chandlerreports.com.

24. Quail Hollow Building Owner Files $7.5 Million Loan -

The owner of the 96,096-square-foot office building at 6525 N. Quail Hollow Road in East Memphis has filed a $7.5 million loan on the property.

25. Magna Bank App Allows Remote Check Deposits -

Magna Bank has joined the list of Memphis financial institutions that let customers snap photos of checks to deposit them in the bank.

26. Magna Bank App Allows Remote Check Deposits -

Magna Bank has joined the list of Memphis financial institutions that let customers snap photos of checks to deposit them in the bank.

27. Shelby County Mortgage Market Jumps 23 Percent -

Bank of Bartlett’s mortgage company saw an uptick in mortgage volume in August compared to the same month in 2012, and the bank’s vice president said he expects demand from borrowers to persist and home prices to keep trending higher.

28. Kasser Tackling Tax Law With Glankler Brown -

Jake Kasser has joined the firm of Glankler Brown PLLC as an associate.

A Germantown High School graduate and the son of parents in the medical field, Kasser entered The University of Memphis as a walk-on safety for the Tigers football team. The advisers he worked with guided him toward his chosen field of accounting, and by his sophomore year he’d garnered an athletic scholarship.

29. Banks Step Up Barriers Against Hacking -

There’s an urban legend about a famed bank robber who, when asked why he targeted banks, answered matter-of-factly, “Because that’s where the money is.”

The same principle applies in the digital age of banking. Hacking and cyber theft are on the rise, and banks and their websites, mobile sites and smartphone apps increasingly are targeted by crooks because, well, that’s where the data is.

30. Mortgage Market Rises 22 Percent in July -

The month of July may help buoy expectations among optimistic participants in the mortgage industry that a housing recovery is taking hold in Shelby County.

Mortgage volume for the month was up almost 22 percent in July, climbing to almost $173 million last month from $142.2 million in July 2012, according to real estate information company Chandler Reports, www.chandlerreports.com.

31. Magna Bank Records $1.5 Million Quarterly Profit -

Magna Bank recorded a profit of $1.55 million for the second quarter, up from a little less than $1 million during the same period in 2012.

32. Magna Bank Records $1.5 Million Second-Quarter Profit -

Magna Bank recorded a profit of $1.55 million for the second quarter, up from a little less than $1 million during the same period in 2012.

33. Building Permit Filed for Volvo of Memphis -

7910 Trinity Road
Cordova, TN 38018
Permit Cost: $2.3 million

Project Cost: $3.5 million
Permit Date: Applied August 2013
Completion: Summer 2014
Owner: Wenco Properties LLC
Tenant: Volvo of Memphis
Architect: Fleming Associates Architects PC
Contractor: Grinder, Taber & Grinder
Details: The ownership group of Volvo of Memphis has filed a $2.3 million building permit for the company’s new dealership at 7910 Trinity Road in Cordova.

34. Construction Loan Filed for Midtown Fred’s -

The developer of a 16,000-square-foot Fred’s Inc. retail store at 1290 Lamar Ave. in Midtown has filed a $1.7 million construction loan for the project.

35. Ady Joins Ballet Memphis as Ballet Master -

James Ady has joined Ballet Memphis as ballet master. In his new role, Ady will teach morning technique classes, assist with community outreach programs, and rehearse and coach dancers for upcoming performances.

36. June Mortgages Up 8 Percent -

June was a healthy month for the mortgage market in Shelby County. Last month saw 810 purchase mortgages made, an 8 percent improvement from 750 mortgages in June 2012, according to real estate information company Chandler Reports, www.chandlerreports.com.

37. Shelby County Mortgages Show Nearly 4 Percent Gain -

The mortgage market is starting to get interesting, in a manner of speaking. Earlier this month, interest rates for mortgages rose in what was described as the largest one-day jump in at least 10 years, according to Mortgage News Daily. That in large part stemmed from the Federal Reserve, which has been snatching up $85 billion worth of mortgage-backed securities a month.

38. Magna Bank Honored for Small Business Administration Lending -

Magna Bank has been named Community Bank of the Year by dollar value for its Small Business Administration lending.

39. Magna Bank Honored as Top Bank for SBA Lending -

Magna Bank has been named Community Bank of the Year by dollar value for its Small Business Administration lending.

40. Jamesbridge Apartments Sell for $3.6 Million -

3689 James Road Memphis, TN 38128

Sale Amount: $3.6 million

Sale Date: June 6, 2013

41. Shadowbrook Townhouses Owner Files $9.5 Million Loan -

The owner of the 366-unit Shadowbrook Townhouses at 3946 Lamar Ave. in Oakhaven has filed a $9.3 million loan on the property.

42. Mortgage Activity Sees Small Increase -

Mortgage activity was a bit lackluster in Shelby County last month compared to the same time in 2012, judging by the latest data.

Looking forward, though, bankers say the demand is there, the busy season for lenders is well underway and that the purchase mortgage business is at times far outpacing demand for refinances.

43. ‘One-Stop Shop’ -

A few Memphis-area community banks are starting to add investment services to their mix of offerings.

They include Magna Bank, which now is working with Cary Allen, a representative of independent investment securities firm LPL Financial Services.

44. Magna Bank Executives Garner Distinctions -

Three Magna Bank employees from the bank’s mortgage division have garnered some new distinctions recently.

45. Magna Bank Executives Garner Distinctions -

Three Magna Bank employees from the bank’s mortgage division have garnered some new distinctions recently.

46. Construction Lending Still Facing Tepid Improvement -

As the economy starts to rebound, local lenders like Magna Bank, First Tennessee Bank and Renasant Bank are seeing moderate improvement in activity for new commercial and residential construction projects, and competition is intensifying to land deals.

47. Mortgages Near $107 Million in April -

From where he sits, Renaissance Realty’s Jeff Jenkins is optimistic that 2013 will be a fruitful one for the local real estate industry.

48. Bank of Fayette County Repays TARP Funds -

The Bank of Fayette County has finished paying back the slightly more than $6 million it got from the federal government as part of the Troubled Asset Relief Program, or TARP, initiative.

49. Bank of Fayette County Repays TARP Funds -

The Bank of Fayette County has finished paying back the slightly more than $6 million it got from the federal government as part of the Troubled Asset Relief Program, or TARP, initiative.

50. Briglia Joins Archer-Malmo as Web/Broadcast Artist -

Kristen Briglia has joined archer-malmo as web/broadcast turbo artist. In her new role, Briglia will produce web graphics, HTML and video-editing services for the growing digital and broadcast departments, and will also help on print projects as needed.

51. Magna Intent on Raising Profile, Enhancing Services -

This year is turning out to be a big one for Magna Bank as it rolls out new products and services, adds key personnel and boosts its profile across the Mid-South.

52. Capital Requirement -

In early April, U.S. Sen. Bob Corker, R-Tenn., joined a handful of other senators in drafting a letter in part about new rules of the road governing bank capital requirements.

That letter was sent to Federal Reserve Gov. Daniel Tarullo, Comptroller of the Currency Thomas Curry and Federal Deposit Insurance Corp. Chairman Martin Gruenberg.

53. Wright Joins Magna Bank as Senior Vice President -

Andy Wright has joined Memphis-based Magna Bank as senior vice president and manager of commercial banking. Wright, who previously held senior vice president positions at Iberiabank and First Tennessee Bank, has experience working with a variety of industries, with in-depth expertise in the transportation and logistics industries.

54. Magna Bank Makes Several Appointments -

Magna Bank has named Frazer Gieselmann as senior vice president and manager of construction lending.

As manager of construction lending, he will lead the bank in providing construction loans to individuals and builders.

55. Magna Bank Makes Several Appointments -

Magna Bank has named Frazer Gieselmann as senior vice president and manager of construction lending.

As manager of construction lending, he will lead the bank in providing construction loans to individuals and builders.

56. March Mortgages Drop 8 Percent -

From March 2012 to March 2013, the number of mortgages made in Shelby County dropped 8 percent – from 649 to 597.

March 2013 mortgage volume totaled a little more than $100 million, though, up from a little more than $97 million in March 2012.

57. Shelby County Mortgage Market Up 2 Percent -

Someone let out a cheer earlier this month at the Memphis Area Association of Realtors 2013 Residential Real Estate Summit as MAAR President Regina Hubbard gave her optimistic forecast for the local housing market.

58. Magna Bank Adds Investment Services -

Magna Bank has added investment services to its mix of offerings available for customers.

The bank now is working with Cary Allen, a representative of independent investment securities firm LPL Financial Services. Allen will be based in Magna’s Quail Hollow branch at 6525 Quail Hollow Road, but he’ll be available to meet with customers at any of Magna’s other branches if they need.

59. Chism Joins BankTennessee as Mortgage Loan Specialist -

George Chism Sr. is a newly appointed mortgage loan specialist at BankTennessee.

Chism, who has been with the bank since February 2012, had been a commercial loan officer. During his tenure in the banking industry, Chism has worked at Magna Bank, Wells Fargo and Germantown Home Mortgage.

60. Chism Named BankTennessee Mortgage Loan Specialist -

George Chism Sr. is a newly appointed mortgage loan specialist at BankTennessee.

Chism, who has been with the bank since February 2012, had been a commercial loan officer. During his tenure in the banking industry, Chism has worked at Magna Bank, Wells Fargo and Germantown Home Mortgage.

61. Magna Bank Runs First Television Ad -

Starting this week, Magna Bank will begin airing a 30-second TV ad as part of its “We’re For You” print, online and broadcast advertising campaign.

62. Magna Bank Runs First Television Ad -

Starting this week, Magna Bank will begin airing a 30-second TV ad as part of its “We’re For You” print, online and broadcast advertising campaign.

63. Mortgage Activity Slows in February -

Mortgage activity in Shelby County began 2013 by shifting into a higher gear, but someone tapped the brakes in February.

Total mortgage volume countywide had started the year showing double-digit percentage growth over the same period one year earlier. But in February, volume was up just 1 percent over the same month in 2012.

64. Keller Named President of Nonprofit Meritan -

Melanie A. Keller has been named president of Meritan Inc. Keller, who joined the nonprofit social services agency in 2006, previously served as its executive vice president. In her new role, she is responsible for oversight of more than 500 employees and contractors as well as the agency’s $21 million annual budget. Keller also manages its quality improvement and strategic planning efforts.

65. Mortgages Jump 38 Percent in January -

Mortgage banking isn’t looking as dreary right now as it has in recent years. In Shelby County, mortgage activity began the year bouncing strongly off totals from the first month of 2012.

66. Magna Bank Announces Four Employee Promotions -

Magna Bank has promoted four employees.

Chief lending officer Ted Simpson has been promoted from executive vice president to senior executive vice president. As senior executive vice president and chief lending officer, Simpson oversees retail banking, private banking, commercial lending, SBA lending, commercial real estate and construction lending.

67. Blazing a Trail -

Susan Stephenson is one of the most accomplished and highly visible women in the Memphis business community. She is the co-founder of Independent Bank, the city’s second-largest bank as ranked by assets and one that largely steered clear of the mortgage mess that dogged competitors during the financial bust.

68. Magna Bank Announces Four Employee Promotions -

Magna Bank has promoted four employees.

Chief lending officer Ted Simpson has been promoted from executive vice president to senior executive vice president. As senior executive vice president and chief lending officer, Simpson oversees retail banking, private banking, commercial lending, SBA lending, commercial real estate and construction lending.

69. Mayor, Banks Revive Program Targeting City’s Unbanked -

It started with a letter. More than two dozen of them, actually. Bankers from around Memphis got a missive from Memphis Mayor A C Wharton Jr. in 2010 that solicited help from bankers like Joe DiNicolantonio, West Tennessee area president for Regions Bank.

70. 2012 Most Profitable Year For Magna Bank -

Last year was the most profitable year ever for Magna Bank since its founding in 1999.

Magna recorded a profit of $3.1 million in 2012, a 24 percent improvement over 2011. The bank’s assets were up 12.1 percent, loans were up 10.8 percent and deposits were up almost 10 percent.

71. 2012 Most Profitable Year for Magna Bank -

Last year was the most profitable year ever for Magna Bank since its founding in 1999.

Magna recorded a profit of $3.1 million in 2012, a 24 percent improvement over 2011. The bank’s assets were up 12.1 percent, loans were up 10.8 percent and deposits were up almost 10 percent.

72. December Mortgages Up 34 Percent -

Much like the fourth quarter, December was also an especially strong period for local mortgage activity.

From December 2011 to December 2012, total mortgage volume climbed 34 percent. December 2012 mortgages totaled a little more than $94 million, up from the nearly $70 million in December 2011.

73. Fourth-Quarter Mortgages Rise 21 Percent -

The fourth quarter of 2012 in Shelby County essentially followed the same upward swing in mortgage activity as was seen throughout the year as a whole.

There were 1,925 mortgages during the fourth quarter of 2012, up 21 percent from the 1,592 during the same period the previous year.

74. Mortgage Gains Point to Solid 2013 -

Shelby County’s mortgage market made decent strides during the past 12 months, posting gains over 2011 and foreshadowing a healthy 2013.

Banks and mortgage lenders made 8,028 purchase mortgages in Shelby County during 2012, a 17 percent improvement from the 6,862 mortgages during 2011, according to the latest data from real estate information company Chandler Reports, www.chandlerreports.com.

75. Banks Showcase Artwork, Local Artists -

Since December, Paragon National Bank has been showcasing art pieces from Dogwood Elementary School students at its Saddle Creek bank branch at 7600 Poplar Ave.

76. County’s Mortgage Market Up 7 Percent -

If they had any worries about next year’s taxes, the fiscal cliff and economic uncertainty, the local mortgage market saw borrowers brush them aside during November.

Continuing a pattern that’s been more the rule than the exception this year, Shelby County’s mortgage market keeps growing at a steady clip, and continued doing so through last month. Total mortgage volume countywide in November was up 7 percent over November 2011, climbing to almost $93 million in November 2012 from about $87 million during the same period last year, according to real estate information company Chandler Reports, www.chandlerreports.com.

77. Hickory Hill Warehouse Sells for $15.7 Million -

6380 Holmes Road Memphis, TN 38141

Sale Amount: $15.7 million

Sale Date: Dec. 5, 2012

78. Village of Sycamore Ridge Owner Files $4.3 Million Loan -

The owner of the Village of Sycamore Ridge – a 114-unit apartment community at 1945 Sycamore View Road near Bartlett – has filed a $4.3 million multifamily deed of trust, absolute assignment of leases and rents and security agreement (including fixture filing) on the property.

79. Storage Facility Owner Files $2 Million Loan -

Storage Towne of America LLC has filed a $2 million loan on its 66,802-square-foot storage facility at 5900 Stage Road in Bartlett.

80. Bank Profits Shrink in Third Quarter -

Memphis-area banks on the whole were a lot less profitable at the end of the third quarter than they were during the same period in 2011.

The two dozen or so banks in the Memphis market reported a little more than $12 million in year-to-date net income at the end of the third quarter, according to data from the Federal Reserve Bank of St. Louis. That’s a big drop from the $136.3 million in year-to-date net income the same banks collectively reported in the third quarter of 2011.

81. Law Industry Closely Studying Social Media -

Corporate America has been warming to social media. Businesses as stodgy as banks have taken to platforms like Facebook and Twitter, including local institutions from Magna Bank to First Tennessee Bank and several others.

82. Magna Bank on Track for Record 2012 -

Several banking industry leaders who have spoken with The Daily News in recent days have said banking in Memphis is seeing a lot of institutions simply taking market share from each other, as opposed to organic growth in the marketplace.

83. Center City Revenue Finance Corp. Passes Financing for Downtown Buildings -

The Downtown Memphis Commission’s Center City Revenue Finance Corp. passed several housekeeping items at its Tuesday, Nov. 13, board meeting, including assigning a payment-in-lieu-of-taxes (PILOT) lease agreement to Montreal-based Olymbec USA LLC for Brinkley Plaza, 80 Monroe Ave.

84. Shelby County Mortgages Up in October -

The Federal Reserve has signaled its intent to buy mortgage-backed securities for much of the near future to try and goose the economy, which means mortgage rates are liable to keep skating along the bottom, as they are now.

85. Center City Revenue Finance Corp. to Consider Brinkley Plaza Tax Break -

The Downtown Memphis Commission’s Center City Revenue Finance Corp. (CCRFC) has a full agenda for its Tuesday, Nov. 13, board meeting, with leasing and financing requests for Brinkley Plaza, Toyota Plaza and the Peabody Hotel Tract.

86. Seminar Underscores Commercial Sectors’ Highs, Lows -

Memphis’ commercial real estate market for the most part appears to mirror national trends, with all four sectors boasting challenges and bright spots so far this year.

That was a message a room full of real estate professionals received when The Daily News hosted its second annual Commercial Real Estate seminar Thursday, Nov.1, at the Memphis Brooks Museum of Art, sponsored by Magna Bank and Evans Petree PC.

87. Baker Donelson Adds Five Attorneys in Memphis -

Baker, Donelson, Bearman, Caldwell & Berkowitz PC has added five attorneys to its Memphis office.

They are Luke Cantrell, Kristin Clay Dunavant, William O’Connor, Sarah Pazar and Mary Wu.

88. Baker Donelson Awards Diversity Scholarships -

The law firm of Baker, Donelson, Bearman, Caldwell & Berkowitz PC has announced the 2012 recipients of the firm’s diversity scholarship.

They are Stephanie deJesus, Willie Santana and LaToyia Slay.

89. Seminar To Tackle Commercial Conditions -

While many commercial real estate professionals would like to forget about 2011 altogether, celebrating increases in 2012 is necessary for morale.

Shelby County experienced the most second-quarter sales this year since the second quarter of 2008, and the highest quarterly sales revenue since the second quarter of 2007.

90. Song and Dance -

Collectively, Sue Stinson Turner, Lisa Reid and Amy Linthicum have more than a century’s worth of experience in the real estate and banking industries.

91. Senior Care Management Solutions Promotes Williams -

Darla Williams has been promoted to health care administrator at Senior Care Management Solutions. In her new role, Williams will play a critical role in overseeing and customizing clients’ daily care plans to fit their specific needs.

92. Mortgage Market Sees Gains in Third Quarter -

With the Federal Reserve taking steps to keep financing costs at extreme lows across the economy, it’s probably not surprising to hear an economist say he’s getting an earful from community banks and credit unions around the country.

93. Local Mortgage Market Up 25 Percent -

Chris Low, chief economist for First Horizon National Corp.’s capital markets division FTN Financial, has been on the road in recent days.

94. Financial Industry Continues to Evolve -

Here’s a roundup of what some of the city’s banks and bankers, investment professionals, and other financial services shops have been up to in recent weeks.

On the personnel front, Financial Federal recently appointed bank president William Tayloe to the board. Tayloe will be responsible for repositioning and expanding the company’s presence locally and elsewhere.

95. Return on Investment -

Most people already know some of the basic elements of the banking business. From the large national lenders with a Memphis presence to the community banks in the suburbs, one common element is they make money by charging borrowers more than the bank pays in interest to depositors.

96. Local Mortgage Market Up 22 Percent -

It’s been an old story for several quarters – for a few years now, in fact: Rates are low, and homebuyers keep tiptoeing back into the market.

That’s especially liable to be the case going forward, in light of the Federal Reserve’s steps last week to keep interest rates low for an indefinite period of time. Indeed, the local mortgage market continues to feel the effects of those low rates.

97. Local Mortgage Market Up In July -

Spurred by interest rates that look to stay at record lows for the near future, local homebuyers keep coming out of the woodwork.

The trend manifested itself in a healthy pickup in mortgage activity last month. Total mortgage volume throughout Shelby County was up almost 30 percent over July 2011, climbing to $143 million in July 2012 from $111.7 million during the same period last year, according to real estate information company Chandler Reports, www.chandlerreports.com.

98. Magna Bank Hits Five-Year Mark -

This month, Magna Bank is marking its fifth year in existence as a full-service community bank, one born in 2007 amid the calm just before the calamitous storm of 2008 that brought sweeping changes to banking and finance.

99. Grant Entity Files $20M Loan For Collierville Construction -

25 acres north
Of Shea Road

Loan Amount: $20.4 million

Loan Date: July 31, 2012

Maturity Date: Aug. 1, 2017

Borrower: Westbrook Crossing GP

Lender: Magna Bank

100. Fairwood Finances Hampton Inn Beale -

Fairwood Investors, the entity that acquired Hampton Inn & Suites Memphis-Beale Street in early 2010, has filed a $15 million leasehold loan through Magna Bank for the hotel and adjacent parking garage.