Editorial Results (free)
1. Shelby County Mortgages Jump 12 Percent in February
- Wednesday, March 12, 2014
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.
2. Mortgage Market Grows 3 Percent in 2013
- Tuesday, January 14, 2014
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.
3. Out-of-Town Banks Target Memphis for Growth
- Saturday, December 14, 2013
More than 40 percent of the customer deposit share in the Memphis-area banking market belongs to institutions that have a presence here but are based outside the area, the latest figures from the Federal Deposit Insurance Corp show.
4. Methodist Pays $22.5 Million for Germantown Facility
- Tuesday, December 10, 2013
7945 Wolf River Blvd.
Germantown, TN 38138
Sale Amount: $22.5 million
5. Owner Files Loan on Holmes Road BP
- Monday, December 09, 2013
The new owner of the recently built BP convenience store and gas station at 6465 Holmes Road in unincorporated Southeast Shelby County has filed a $1.2 million loan on the property.
6. Campbell Clinic Pays $3.2 Million for Surgery Center
- Tuesday, October 22, 2013
255 Dr. Martin Luther King Jr. Memphis, TN 38104
Sale Amount: $3.2 million
7. Owner of Two Autobody America Shops Files Loan
- Wednesday, October 16, 2013
The owner of Autobody America body shops at 6957 Stage Road and 7291 Winchester Road has filed a $2.1 million loan on the properties.
8. Visible Music College Files $3.2 Million Loan
- Tuesday, September 10, 2013
200 Madison Ave.
Memphis, TN 38103
Loan Amount: $3.2 million
Loan Date: Aug. 30, 2013
Borrower: Visible Music College
Lender: Renasant Bank
Details: Visible Music College has filed a $3.2 million loan on its Downtown campus at 200 Madison Ave.
9. Goodwin Henry Finances Arlington Retail Center
- Friday, September 06, 2013
Goodwin Henry Properties LLC has financed its 16,800-square-foot shopping center at 5870 Airline Road in Arlington for $1.5 million.
10. Visible Music College Files $3.2 Million Loan
- Thursday, September 05, 2013
Visible Music College has filed a $3.2 million loan on its Downtown campus at 200 Madison Ave.
The music and worship arts school filed the Tennessee deed of trust, assignment of leases and rents and security agreement Aug. 30 through Renasant Bank. Ken Dale Steorts signed the trust deed as president of Visible Music College.
11. Doctor Files Loan on Chiropractic Clinic
- Wednesday, September 04, 2013
The owner of the Spinal Healthcare Associates, Cordova Pain Treatment Center at 8132 Country Village Drive in Cordova has filed a $1.4 million loan on the property.
12. Presidents Island Property Sells for $1.1 Million
- Tuesday, July 23, 2013
2269 Channel Ave.
Memphis, TN 38106
Sale Amount: $1.1 million
Sale Date: July 15, 2013
Buyer: CHS Inc.
Seller: Holcim (U.S.) Inc.
13. Kirby Parkway Center Owner Files Loan
- Friday, July 19, 2013
The owner of the retail strip center and gas station at 1781-1817 Kirby Parkway in East Memphis has filed a $1.1 million loan on the property.
14. Owner Files Loan on Kirby Parkway Center
- Thursday, July 18, 2013
The owner of the retail strip center at 3275 Kirby Parkway in Hickory Hill has filed a $920,000 loan on the property.
15. Shareholders Approve Renasant Buying First M&F
- Thursday, June 27, 2013
JACKSON, Miss. (AP) – Shareholders overwhelmingly approved Renasant Corp.'s purchase of fellow Mississippi bank First M&F Corp. Tuesday.
16. Collierville Office Building Owner Files $1.8 Million Loan
- Monday, May 27, 2013
The owner of the 15,632-square-foot office building at 60 Market Center Drive in Collierville has filed a $1.8 million loan on the property.
17. Cresthaven Medical Building Sells for $2.5 Million
- Tuesday, May 21, 2013
1068 Cresthaven Road Memphis, TN 38119
Sale Amount: $2.5 million
Sale Date: May 2, 2013
18. Renaissance Group Files Loan on Lakeland Office
- Thursday, May 16, 2013
Architecture and engineering firm Renaissance Group has filed a $1.7 million loan on its headquarters at 9700 Village Circle in Lakeland.
19. Construction Lending Still Facing Tepid Improvement
- Saturday, May 11, 2013
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.
20. Core Focus
- Saturday, May 11, 2013
The Great Recession silenced construction crews throughout the Memphis area, and that was especially evident Downtown, where ambitious, skyline-changing projects were put on hold, reconfigured or scrapped altogether.
21. New Apartments Planned for South Main
- Wednesday, April 24, 2013
Plans for 197 apartments on two corners of West Carolina Avenue and Florida Street go to the Downtown Memphis Commission Design Review Board at its May 1 meeting.
South Junction will rise on the vacant northwest and southeast corners of Carolina and Florida, in the South Main Historic Arts District.
- Monday, April 01, 2013
University of Memphis Habitat for Humanity Campus Chapter and Students Advocating Service will kick off Act! Speak! Build! Week Monday, April 1, at 10 a.m. in the University Center Bluff Room, 499 University St. Guests include Sen. Reginald Tate and Jessica Hord of Habitat for Humanity of Greater Memphis. Cost is free. Visit memphishabitat.com.
- Friday, March 29, 2013
Lipscomb Pitts Breakfast Club and the University of Memphis will host a Professional Connection Lunch Friday, March 29, from 12:30 p.m. to 2 p.m. in the University Center Shelby Room, 499 University St. The series connects students with business and community leaders for discussions and leadership exercises. Cost is free. R.S.V.P. to Jon Campbell at email@example.com or 678-1781.
- Thursday, March 28, 2013
Sales and Marketing Society of the Mid-South will host a roundtable with Joel Henry, president of Intermodal Cartage, Thursday, March 28, at 7:30 a.m. at Cheffie’s Café, 483 High Point Terrace. Cost at the door is $20. Visit sms-midsouth.org.
25. East Memphis Squatter Removed From Home
- Monday, March 11, 2013
A woman who allegedly moved into a foreclosed East Memphis mansion is facing aggravated burglary, property theft and criminal trespass charges.
Tabitha Gentry, who also goes by the name Abka Re Bey, was arrested by Shelby County Sheriff’s deputies Thursday, March 8, on the warrants when she left the house at 600 S. Shady Grove Road.
26. Renasant to Buy First M&F in $119 Million Stock Deal
- Friday, February 08, 2013
TUPELO, Miss. (AP) – Renasant Corp. will buy fellow Mississippi bank First M&F Corp. in a $119 million stock transaction.
- Tuesday, October 23, 2012
Memphis Rotary Club will meet Tuesday, Oct. 23, at noon at the University Club of Memphis, 1346 Central Ave. Bill Seely of Varsity Brands will discuss cheering as an NCAA sport. Cost is $18. R.S.V.P. to Taylor Hughes at firstname.lastname@example.org.
- Monday, October 22, 2012
The Church Health Center Komen Club will host a women’s health conference Monday, Oct. 22, from 8:30 a.m. to noon at Church Health Center Wellness, 1115 Union Ave. The event will include health screenings, consultations with a registered dietician, stress relief techniques and more. Visit churchhealthcenter.org.
29. Mississippi Tracks Possible Misuse of Nutrition Program
- Tuesday, October 02, 2012
TUPELO, Miss. (AP) – State officials say 1,705 people in Mississippi were disqualified last budget year from the Supplemental Nutrition Assistance Program for making false claims and improperly taking more than $2.7 million in benefits.
30. Lease Takes Appling Farms to Capacity
- Friday, September 28, 2012
A distributorship of Pella Corp. has inked 11,300 square feet in Appling Farms Corporate Park, 6972 Appling Farms Parkway.
- Tuesday, June 12, 2012
The Church Health Center/MIFA Farmers Market will be open Tuesday, June 12, from 10 a.m. to 2 p.m. at Church Health Center Wellness, 1115 Union Ave. Visit churchhealthcenter.org or call Esther Wills at 250-4673, ext. 1604.
- Wednesday, June 06, 2012
Kiwanis Club of Memphis will meet Wednesday, June 6, from noon to 1 p.m. at The Peabody hotel, 149 Union Ave. Hattiloo Theatre founder Ekundayo Bandele will speak. Cost is $25 for nonmembers.
33. CRE Lending Sees Slight Improvement
- Monday, May 21, 2012
The commercial lending landscape in the Memphis area continues to grind its way through an extended period of gradual improvement that began roughly two years ago after a dismal 2009.
“Loans for A- and B-class commercial properties are back. The owners have plenty of choices now,” said Frank Stallworth, president of Magna Bank’s commercial and multifamily division. “There’s no question that values have declined compared to 2007, but for the most part those values have stabilized. 2011 was better than 2010, 2012 is shaping up better than last year, and we expect 2013 to better than 2012 as it relates to occupancies as well as stabilizing and possibly increasing rents in the various sectors of commercial real estate.”
34. Union Ave. Medical Office Financed for $1.8 Million
- Friday, May 04, 2012
Roundabout Real Estate LLC and Visual Projects LLC, both based in Missouri, have filed a $1.8 million loan through Renasant Bank secured by a nearly 16,000-square-foot medical office building at 2076 Union Ave.
35. Garrett to Head Adult Programs At Literacy Mid-South
- Wednesday, May 02, 2012
Alfred Garrett has been promoted to director of adult programs at Literacy Mid-South. Previously the adult programs manager, Garrett’s new role will include establishing and maintaining program delivery policies, evaluating effectiveness and measuring outcomes for the nonprofit organization’s adult programs.
36. Highland Meadows Sells for $5.5 Million
- Tuesday, May 01, 2012
5045 Airways Blvd.
Memphis, TN 38116
Sale Amount: $5.5 million
Sale Date: April 25, 2012
37. Best Western Exec. Inn Financed for $1.4M
- Monday, April 30, 2012
The 60-room Best Western Executive Inn at 3105 Millbranch Road has been financed for $1.4 million, the second loan owner Jai Gayatri Inc. has filed for the Whitehaven property in as many months.
38. Southland Sells Parcels To Bank For $1 Million
- Friday, April 13, 2012
A Downtown property that real estate investor Terry Lynch once planned for residential and retail space was sold back to the lender for slightly less than $1 million.
39. Renasant Elects New Senior VP
- Tuesday, April 03, 2012
Alan Scrimager has been elected senior vice president and commercial relationship officer for Renasant Bank in the bank’s West Tennessee region.
40. Triumph Bank’s Mantra: Say ‘Yes’ to Customer
- Monday, February 27, 2012
Entrepreneurs get in the game for many different reasons. They do it to make money, certainly, and to maintain a degree of control over that money and their professional lives.
For many, though, there is an urge to participate within and for a community they understand, live and work in. These are the reasons Triumph Bank was founded, and why their board, 15-strong, is made up, not of bankers per se, but of entrepreneurs.
41. Askew Nixon Ferguson Announces Promotions
- Friday, February 03, 2012
Askew Nixon Ferguson Architects has announced a trio of promotions in its Memphis office, 1500 Union Ave.
42. Renasant Corp.'s Q4 Profit Rises
- Thursday, January 19, 2012
TUPELO, Miss (AP) – Renasant Corp. says fourth-quarter profit rose on the strength of its expansion.
43. Assoc. Pharmacies Buys Mineral Wells Warehouse
- Wednesday, January 04, 2012
Scottsboro, Ala.-based Associated Pharmacies Inc. has bought a roughly 59,000-square-foot warehouse at 5375 Mineral Wells Road from Renasant Bank for $1.2 million.
44. Associated Pharmacies Buys Memphis Warehouse
- Monday, January 02, 2012
Scottsboro, Ala.-based Associated Pharmacies Inc. has bought a roughly 59,000-square-foot warehouse at 5375 Mineral Wells Road from Renasant Bank for $1.2 million.
45. Holmes Road Acreage, Lots Sell for $1.6M in Foreclosure
- Monday, December 26, 2011
Property on Holmes Road
Memphis, TN 38109
Sale Amount: $1.6 million
Sale Date: Nov. 18, 2011
Buyer: Renasant Bank
46. Holmes Road Property Sells in Foreclosure
- Thursday, December 22, 2011
Renasant Bank has bought back three parcels on Holmes Road at a foreclosure sale for $1.6 million after former owner HBT Investments LLC defaulted on a $4.8 million loan through the bank. The substitute trustee was John B. Philip.
47. Cotton Council Building Sells for $3.1 Million
- Tuesday, November 29, 2011
1918 North Parkway
Memphis, TN 38112
Sale Amount: $1 million
Sale Date: Nov. 18, 2011
48. Cotton Council Bldg. Sells for $1 Million
- Wednesday, November 23, 2011
Cotton Council Apartments LLC has bought the former National Cotton Council headquarters at 1918 North Parkway from TC-Met Rhodes LLC for $1 million, filing a $3.1 million construction loan through Renasant Bank at the time of purchase.
49. Trust One Parent Has Profitable Q3
- Monday, October 31, 2011
Columbus, Ga.-based Synovus Financial Corp. reported earnings of $15.7 million for the third quarter, the company’s first quarterly profit since Q2 2008.
50. Community Banks Resist Fees For Debit Cards
- Monday, October 10, 2011
Community banks have always possessed a certain charm among American financial institutions, one embodied by personal touches, friendly service and fewer headaches and hassles than their bigger brethren.
51. Jackson Joins Devcon Security as GM
- Wednesday, October 05, 2011
Eric Jackson has joined Devcon Security as general manager of the company’s Memphis branch. Jackson’s primary focus will be hiring and training sales people and technicians, as well as building daily branch operations and acting as the brand ambassador to building partnerships in the community.
52. Defense Depot Property Sells for $1.1 Million
- Tuesday, October 04, 2011
2085 W.E. Freeman Drive
Memphis, TN 38114
Sale Amount: $1.1 million
Sale Date: Sept. 14, 2011
Buyer: Varma Family LP
53. Third St. Warehouse Sells for $415K in Foreclosure
- Friday, September 30, 2011
Renasant Bank has bought an industrial property at 1700 S. Third St. at a foreclosure sale for $415,000.
54. Renasant Expands Into Tuscaloosa
- Thursday, August 25, 2011
TUPELO, Miss. (AP) – Regional banker Renasant Corp. is entering the banking market in Tuscaloosa, Ala.
55. Renasant Taps Weaver as New Senior VP
- Monday, August 08, 2011
Renasant Bank has tapped Kim Weaver as senior vice president and commercial loan officer for Memphis.
56. Renasant Bucks Trends
- Monday, July 25, 2011
Tupelo, Miss.-based Renasant Corp. is doing something not seen too much in the banking world at the moment.
It’s growing, its profits are climbing and the $4.3 billion company is optimistic about its prospects for the rest of 2011.
57. 2950 Brother Warehouse Financed for $2.9M
- Monday, May 30, 2011
2950 Brother LLC has financed a warehouse at 2950 Brother Blvd. through Renasant Bank for $2.9 million. The loan matures in July 2016.
58. Renasant Places Temporary Mobile Bank in Smithville
- Friday, May 20, 2011
Renasant Corp. has placed a temporary mobile banking unit at the site of its Smithville, Miss., branch location that was destroyed by recent storms.
59. Renasant, Wunderlich Announce New Hires
- Friday, May 13, 2011
Tupelo, Miss.-based Renasant Bank has a new president for its regional market that includes Memphis.
Renasant chairman and CEO E. Robinson McGraw announced Wednesday that Jeff Hudson has been tapped as West Tennessee president for Renasant.
60. Sports Sponsorships Big Biz for Financial Institutions
- Monday, February 14, 2011
The banking sector’s image took a major hit during the recession, as banks took actions that included fee hikes, stepping up foreclosures, closing down some customer accounts and shutting down the lending spigot.
61. Gone Cold
- Friday, February 11, 2011
School children welcomed Jack Frost on Wednesday afternoon and the three to five inches of snow he brought with him, but for business owners, the snow that caused hazardous road conditions and closures across the city also caused dollar signs to melt like icicles in the sun.
62. Lending Slows to a Crawl
- Tuesday, December 14, 2010
According to commercial lending figures over the past two years, things are not going very well in the industry.
For the 12-month period from November 2009 to October 2010, Shelby County banks made 228 commercial mortgages, a 21 percent decline from 288 for the previous period, according to real estate information company Chandler Reports, www.chandlerreports.com.
63. Global Distriplex Warehouse Sells for $1.8M in Foreclosure
- Monday, December 13, 2010
Renasant Bank has bought a 58,953-square-foot warehouse at 5375 Mineral Wells Road from Global Distriplex for $1.8 million at a foreclosure sale. The Dec. 8 sale occurred because Global Distriplex defaulted on a $2.6 million loan through Renasant.
64. Girl Scouts Heart of the South Buys White Station Property
- Tuesday, November 16, 2010
717 S. White Station Road, Units A, B and C
Memphis, TN 38117
Sale Amount: $1.8 Million
65. Renasant Reclaims Lots in Eads Subdivision
- Monday, November 15, 2010
Renasant Bank has bought back 14 parcels totaling 42 acres in Eads’ Wynestone Estates Subdivision following a foreclosure.
66. Banks Look to Reshape Rocky Landscape
- Wednesday, September 29, 2010
The Memphis and Tennessee economies are looking brighter compared to the country at large.
Larger banks in the Memphis market will continue to lose market share to smaller competitors that are hungry and nimble. And many local banks have the cash and the desire to go on a buying spree – for other banks, that is.
67. Winbranch Apartments Sell for $2.4 Million
- Tuesday, September 21, 2010
3595 Millbranch Road
Memphis, TN 38116
Sale Amount: $2.4 million
Sale Date: Sept. 7, 2010
Buyer: Winbranch Realty Partners LLC
Seller: LBUBS 2004-C4 Millbranch Road LLC
Loan Amount: $975,000
Loan Date: Sept. 7, 2010
Maturity Date: Sept. 1, 2011
Lender: The Leshum Group LLC
68. 42 Acres in Eads in Foreclosure
- Friday, September 17, 2010
Forty-two acres in Eads’ Wynestone Estates Subdivision are scheduled to be sold in foreclosure, according to a first-run foreclosure notice in today’s Daily News. The notice states Wynestone Partners is in default of a $1.5 million construction loan through Renasant Bank dated January 2005 and matured in January 2007. The loan was modified in September 2006 to add $216,000 for a total of $1.7 million.
69. Germantown Storage Buys Vacant Land in Fieldstone
- Tuesday, September 14, 2010
Germantown Storage LLC has bought part of a 5.2-acre vacant parcel west of Hacks Cross Road from Players Crossing Partners LLC for $300,000. The sale was financed with a $1.3 million construction loan through Renasant Bank, with the note maturing in September 2030.
70. Lending Landscape Remains Bleak
- Tuesday, September 14, 2010
Commercial and residential construction lenders continue to see slow activity from developers, making it unlikely much dirt will get pushed on new projects in the next several months.
“We are seeing softness in the commercial market in almost all sectors,” said Rick Hall, executive vice president at Renasant Bank. “Not many projects have been presented, and demand is low for new loans.”
71. Renasant Bank Forecloses on $3.7M East Memphis Home
- Wednesday, August 18, 2010
Renasant Bank has foreclosed on a multimillion home on South Shady Grove Road, according to a first-run foreclosure notice in today’s Daily News. Richard K. Rice and April H. Rice bought the home in February 2006, according to the notice. The purchase was financed with a $3.1 million loan through Renasant.
72. Banks Raising Capital to Finance Growth
- Monday, August 16, 2010
Banks in the Memphis area are raising tens of millions of dollars in new capital to finance growth plans, to support a boost in lending and to make sure they’re in prime position to handle an acquisition.
73. 21 Acres in Lakeland in Foreclosure
- Friday, August 13, 2010
Twenty-one acres near Canada Road and Highway 64 in Lakeland have been foreclosed upon, according to a first-run notice in the foreclosures section of today’s Daily News.
Renasant Bank foreclosed on the property after Stonebridge Properties defaulted on a $1.5 million credit line trust deed taken out in September 2001. Stonebridge is a Tennessee partnership composed of William Koeneman and Clair D. Vanderschaaf Jr., according to the foreclosure notice.
74. Miller Amasses More Foreclosures
- Wednesday, July 14, 2010
More foreclosures have piled up against developer and homebuilder David Miller, who filed for Chapter 7 bankruptcy in May.
75. Wynstone Mill Lots Hit Auction Block
- Tuesday, May 25, 2010
Thirty-six lots in the Wynstone Mill subdivision of the Schilling Farms Planned Development have been foreclosed and will be sold in a substitute trustee’s sale, according to a pair of notices that begin on Page 38 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.
76. Loan Changes Could Alter Market
- Tuesday, March 30, 2010
The Federal Housing Administration will enact a couple of changes in its loan procedures, including one going into effect next week, but how much they bear on home sales remains to be seen.
Beginning Monday, FHA will increase its upfront mortgage insurance premium from 1.75 percent to 2.25 percent. So, for someone buying a $100,000 home, that’s an additional $500 they’ll have to finance into the loan.
77. Mortgage Numbers Drop In February
- Thursday, March 18, 2010
Like anyone in the real estate business, mortgage bankers have April 30 circled on their calendars.
That’s when the federal homebuyers tax credit is set to expire, bringing an end to the program that gives cash for a home purchase.
78. Local CRE Market Falters in February
- Tuesday, March 16, 2010
All the talk about commercial real estate’s doldrums is bolstered by Shelby County’s latest numbers, which underscore how much the sector is still hurting.
Because of tightened lending guidelines and companies’ hesitance to make real estate moves, the numbers continue to shrink with each month of the recession.
79. NuVasive Files Permit to Renovate Southeast Memphis Facility
- Tuesday, February 09, 2010
4670 E. Shelby Drive
Memphis, TN 38118
Permit Amount: $1.6 Million
Project Cost: $1.6 million
Permit Date: Applied February 2010
Owner: NuVasive Inc.
Tenant: NuVasive Inc.
Contractor: Montgomery Martin Contractors LLC
Architect: Looney Ricks Kiss Architects Inc.
80. Mortgage Activity Sums Up Dreary ’09
- Tuesday, January 12, 2010
Although the mortgage industry enjoyed an uptick in activity as the year ended, it by no means salvaged an otherwise abysmal 2009.
Lenders suffered one of their worst years for purchase mortgages in recent memory, making only 8,399 loans in 2009, according to real estate information company Chandler Reports, www.chandlerreports.com. (Data for this report included purchase mortgages only, not refinances.)
81. Slow Road to Rebound
- Friday, January 08, 2010
Don’t bother listening for the sound of champagne corks popping.
Instead of celebrating the end of 2009’s financial turmoil, many bankers and industry professionals in the Memphis area are greeting the arrival of a new year with a sigh of relief. And they’re recommitting themselves to game plans cobbled together either last year or back in 2008 to put their institutions on firmer footing.
82. Renal Company Sells Clinic, Leases It Back From New Owner
- Tuesday, December 29, 2009
4185 Pace Road
Memphis, TN 38116
Sale Amount: $2 Million
Sale Date: Dec. 17, 2009
Buyer: BanBan South Memphis LLC
Seller: RAI II LLC
Loan Amount: $1.5 million
Loan Date: Dec. 15, 2009
Maturity Date: March 7, 2011
Lender: First Security Bank
83. Renasant Reclaims 16 Eads Parcels
- Wednesday, December 23, 2009
Renasant Bank has reclaimed 16 parcels – 13 of which are residential lots and three of which are common areas – in the Curtman Glenn Planned Development in unincorporated Shelby County near Eads following a foreclosure of the properties. The Tupelo, Miss.-based bank paid $1.6 million for the land from substitute trustee Paul N. Royal of the law firm Crislip, Philip and Associates.
84. Mixed Signals Remain for Local Banking Industry
- Monday, December 21, 2009
The old proverb about the fear of dismounting a tiger – once you’re riding one, you can’t hop off without becoming easy prey for the beast – seems applicable to the banking industry at the moment.
The tiger it’s riding is an economy marked by delinquent mortgages, companies shedding jobs and unpaid consumer loans stacking up as borrowers fall further behind. As a result of that upheaval, the U.S. government has basically turned into a vast holding company sitting on giant stakes in automakers and hundreds of banks.
85. Mortgage Activity Looks Up in November
- Monday, December 14, 2009
It stands to reason that whenever home sales have a good month, the mortgage industry will also. Not surprisingly, the latest loan data held up their end of the bargain and for the first time all year outpaced the same month of 2008.
86. French Quarter Suites Hotel Bought Back by Original Owner
- Tuesday, December 08, 2009
2144 Madison Ave.
Memphis, TN 38104
Sale Amounts: $1 Million; $300,000; $200,000
Sale Dates:Nov. 20, Nov. 5 and Nov. 12, 2009
Sellers:Lodgian Memphis Property Owner LLC, Horace and Ann Proctor, and Martha D. Sutton
Loan Amount:$1.3 million
Loan Date:Nov. 30, 2009
Maturity Date:Nov. 20, 2010
87. Renasant Reclaims 11 Highland Point Lots
- Tuesday, December 01, 2009
Renasant Bank has bought back 11 lots in the Highland Point Subdivision in unincorporated Shelby County from developer Latting Road Partners LLC following a foreclosure. The bank bought the parcels for a combined $1 million in a substitute trustee’s deed, acquiring the properties on the steps of the Shelby County Courthouse from trustee Paul Royal of the law firm Crislip, Philip and Associates.
88. Magna Bank Reports Stronger Numbers in Q3
- Wednesday, November 25, 2009
It was only a few months ago that Kirk Bailey, chairman, president and CEO of Memphis-based Magna Bank, told shareholders the previous year had been nothing short of cataclysmic for the financial industry.
89. Renasant Changes 401(k) Administrators
- Wednesday, November 18, 2009
Renasant Corp. has informed employees of the Mississippi-based bank the company is changing administrators of its 401(k) plan.
90. Loan Losses Still Up at Area Banks
- Monday, November 16, 2009
With a few exceptions, most major regional and community banks with a presence in the Memphis market are socking away more money these days to cover troubled parts of their loan portfolios.
The degrees to which they’re piling up those cushions vary widely, with the figure more than doubling at banks like Cadence and Renasant when comparing the just-ended third quarter to the same period last year. And the trend is important to watch, because when provisions for loan losses are on the rise it eats into a bank’s earnings, which in turn postpones the return of stability to the industry.
91. Banks Make Strengthening Moves
- Monday, November 09, 2009
A few months ago, First Horizon National Corp.’s then-chief investor relations officer was named by an industry magazine as the best IR officer among banks with a market capitalization less than $5 billion.
92. Renasant Corp. Reports Q3 Net Income Drop
- Friday, October 23, 2009
Tupelo, Miss.-based Renasant Corp. reported third quarter net income this week of $4.2 million, or $0.20 per share, compared to $7.56 million, or $0.36 per share, during Q3 2008.
93. FDIC Report Offers Insight Into Banks’ Market Share
- Thursday, October 22, 2009
First Tennessee Bank commands more than a third of the bank deposit market share in the Memphis area, while its closest rival has about half that amount.
94. Banking Field Trip Shows Signs Of Local Recovery
- Monday, September 28, 2009
The economy is beginning to see a small break in the clouds.
Local banks are warm to the possibility of gobbling up other banks and failed rivals if government financial backing is part of the deal.
95. Renasant Bank Names Forman Memphis’ First VP
- Friday, September 18, 2009
Renasant Bank has named Scott Forman to be first vice president and commercial lending officer in Memphis.
96. Tupelo Business Incubator to Expand
- Wednesday, September 02, 2009
TUPELO, Miss. (AP) - Lee County's business incubator will expand with the help of a $2.7 million federal grant.
The Renasant Center for IDEAs opened in August 2006 and has helped launch 21 new enterprises and organizations. It offers onsite business counseling, technical support, marketing assistance, networking and other services.
97. Mortgage Numbers Up Since June
- Monday, August 10, 2009
One year ago, Tupelo, Miss.-based Renasant Bank had two employees working in its local mortgage division. Today, it has nine. And that 450 percent boost in staffing yielded one of Shelby County’s most impressive increases in lending activity last month.
98. Hot Flavor: Plain Vanilla
- Friday, July 17, 2009
The Federal Reserve Bank of San Francisco in April reached an agreement with a bank holding company there limiting its activities in several areas, including the payment of dividends.
99. Q2 Mortgages Up 34 Percent
- Tuesday, July 14, 2009
The mortgage industry is yet another group that viewed the second quarter numbers with some ambivalence. The period (April through June) was highlighted by slight improvements from the previous quarter but well off the mark from the same quarter the previous two years.
100. Mortgage Sector Tows the Line in June
- Monday, July 13, 2009
Like other real estate and financial services sectors, the mortgage industry received some bad news and some good news in June: Activity improved from the previous month, but still fell short of last year’s total.