Displaying items tagged: Fifth Third Bancorp
Fifth Third Bank sells historic downtown Holland office building for $4.4M
HOLLAND — An iconic three-story former bank building in downtown Holland has sold for more than $4.4 million, MiBiz has learned.
Incoming Fifth Third Bank CEO sees ‘excellent tailwinds’ in West Mich. market amid economic disruptions
Tim Spence takes the helm July 5 at Fifth Third Bancorp Inc., succeeding Greg Carmichael, who’s retiring as CEO and becomes executive chairman.
New customers, federal relief programs drive growth in bank deposits
Some of the smallest banks in Michigan’s market recorded the biggest growth rates in deposits during a recent 12-month period of the COVID-19 pandemic.
New $200M fund builds on prior success, to include focus on minority-owned businesses
A new $200 million fund to support growing businesses in Michigan intends to direct half of the capital it raises to financing minority-owned companies.
TRIAL BY FIRE: SBA races to provide relief to small businesses, but some hiccups remain
The sheer volume of small businesses that have sought federal relief loans illustrates the depth and scope of the economic pain brought on by the COVID-19 pandemic.
Banks leverage new flexibility to help businesses get through pandemic
Small businesses that have been slammed by the coronavirus pandemic and expect to have difficulty making commercial loan payments should call their bankers now to work out possible adjustments.
Fifth Third Bank outlines plans to help businesses hit by pandemic
Fifth Third Bank plans a number of immediate moves to ease the financial burden on small business and consumers hit by the coronavirus pandemic.
Grand Action reboots to tackle new transformational projects in GR
Grand Action resumes operations in a far different Grand Rapids than 28 years ago. Now at the helm are Carol Van Andel, Dick DeVos and Tom Welch, the regional president of Fifth Third Bank.
Grand Action relaunches to focus on transformational projects in Grand Rapids
GRAND RAPIDS — Grand Action, the business group that pushed some of the largest downtown developments over the last 25 years, plans to resume operations with new leadership.
Community Shores deal ‘makes a lot of sense’ for ChoiceOne
SPARTA — ChoiceOne Financial Services Inc. wasn’t actively looking to do another deal, but the parent company of ChoiceOne Bank saw an opportunity with Community Shores Bank Corp. that was too good to pass up.
Orion Construction, nonprofits start on West Garfield Park development
GRAND RAPIDS — Nonprofits LINC Up and Dwelling Place, along with general contractor Orion Construction Co. Inc., broke ground today on the second phase of an affordable housing development in Grand Rapids’ Garfield Park neighborhood.
Outlooks continue to show slower growth ahead for Michigan, U.S. economies
As U.S. economic growth slows, so too does Michigan’s economy.
Amid economic concerns, borrowing remains strong for short-term projects
Commercial bankers say clients’ demand for credit remains strong, although borrowers in West Michigan are carefully watching what’s ahead for the economy.
West Michigan bankers react to potential for Fed rate decreases
After issuing a steady string of interest rate increases over the last three years, the Federal Reserve could start lowering rates again in the coming months in a move to keep the economy growing, making borrowing a little cheaper for businesses.
Q&A: Jeffrey Korzenik, Chief Investment Strategist and Senior Vice President, Fifth Third Bank
Jeff Korzenik became interested in how businesses can successfully hire ex-offenders “almost by accident.” He credits sending his children to public magnet schools in Chicago with opening his eyes to the challenges different groups of people face.
As economy nears record period of expansion, questions emerge over timing of next downturn
Everybody knows the U.S. economic expansion that’s approaching a decade in duration will eventually come to an end. When that dip will actually occur remains the unknown, as assorted economic outlooks continually predict slower growth ahead, but stop short of forecasting an outright recession.
Returning Citizens – More Than a Workforce
It’s no secret: West Michigan companies need to find a deeper pool of talent. For businesses, the questions are always the same: Where do we find them? How do we attract them? Who will train them? How do we keep them?
Red Cedar hires former ClearArc team members, relocates HQ to Grand Rapids
Red Cedar Investment Management LLC has relocated to Grand Rapids after landing a veteran investment team that has ambitious growth plans for the firm.
Hinman to acquire Fifth Third Bank building in downtown Kalamazoo
The Hinman Co. is expanding its property holdings with the acquisition of a downtown Kalamazoo building.
Crystal Ball 2019 Economic Outlook: National economy enters late states of expansion, economists say
Robert Dye views 2019 as a “transitional year” for the U.S. economy as a trio of forces align to moderate growth during the year.
Q&A: Greg Carmichael
Chairman, President and CEO, Fifth Third Bancorp Inc.
Legacy Trust capitalizes on opportunity to expand staff
GRAND RAPIDS — Believing that bringing aboard good talent can contribute to driving growth, Legacy Trust CEO Tracey Hornbeck opted to expand the firm’s reach when seeking to add a wealth management adviser.
Despite growth, more angel investors needed in state
Michigan has more angel investors than ever who invest in startup companies, but Skip Simms believes that’s still not nearly enough.
Organizations support minority entrepreneurial initiatives in West Michigan
GRAND RAPIDS –– An array of organizations in West Michigan have launched new initiatives aimed at bridging the wealth gap in a region characterized by vast income disparities.
MiBiz Growth Report: Feb. 19, 2018
Here is the MiBiz Growth Report for Feb. 19, 2018:
• M&A: Great Lakes Scrip Center Inc., a West Michigan-based provider of gift cards for fundraising, was acquired by Minneapolis, Minn.-based Bold Orange, a recently formed marketing firm. Over 23 years, Great Lakes Scrip Center has worked with more than 48,000 organizations to raise $680 million. The company last spring acquired The Manna Group in Palatine, Ill. and was the largest gift card company in the nation. Local operations at Great Lakes Scrip, which employs about 90 people, will continue “business as usual,” said Jill Whalen, vice president for retail operations.
Fifth Third Bancorp plans to give raise and bonus to minimum-wage employees
The tax cut enacted by Congress has Fifth Third Bancorp planning to raise the minimum wage it pays employees to $15 an hour and pay a $1,000 one-time bonus.
Federal tax reform creates winners and losers
The reform proposal rolled out by Republicans in Congress to rewrite the U.S. tax code creates the proverbial winners and losers, sources say.
Credit union acquisitions of community banks expected to accelerate
Two pending deals where West Michigan-based credit unions are buying small community banks follow an emerging trend nationally.
New report ranks Michigan 5th nationally for most bank branch closures
More bank branches closed in Michigan than in 45 other states in the years following the most recent financial crisis.
Commercial real estate execs optimistic for West Michigan, but remain vigilant
Despite political uncertainty and fears of an impending economic slowdown, commercial real estate and construction stakeholders have faith in the fundamentals of the industry in West Michigan.