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Displaying items tagged: Level One Bank

Sunday, 19 December 2021 17:50

Bank M&A expected to surge next year after pandemic lull

The new year could bring a continued acceleration of M&A in the banking industry.

Published in Finance
Sunday, 15 August 2021 17:15

Latest Grow Michigan fund fills capital niche for growing businesses

statewide loan fund that provides growth capital to rapidly growing businesses expects to start doing deals soon after agreements with its initial investors have been finalized.

Published in Finance
Sunday, 31 January 2021 17:00

SBA simplifies PPP loan forgiveness process

As clients began reaching out in recent weeks to gather documents and apply for forgiveness of their federal Paycheck Protection Program loans from last year, executives at Level One Bank urged them to wait. 

Published in Small Business

Sunday, 06 August 2017 15:53

Commercial lending volumes rise as borrowers reach capacity

Among the commercial and industrial borrowers at Lake Michigan Credit Union, about one-third are expanding or buying new equipment that’s needed to grow their businesses.

Published in Finance
Sunday, 05 March 2017 20:23

MiBiz Growth Report: March 6, 2017

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.

Published in Breaking News
Wednesday, 11 January 2017 14:05

Level One Bank hires senior vice president for Grand Rapids office

After opening its first West Michigan office late last year, Level One Bank has brought on veteran commercial banker Doug Kohlbeck as a senior vice president.

Published in Breaking News

Sunday, 11 December 2016 16:13

Horizon Bank to open downtown Grand Rapids branch

GRAND RAPIDS — Three years after opening a local lending office, Horizon Bank plans to begin developing a branch network in the Grand Rapids market.

Published in Finance
Sunday, 18 September 2016 16:28

Level One Bank eyes growth with entry to GR market

GRAND RAPIDS — A strong marketplace combined with recent consolidation involving community banks lured Level One Bank from its base in suburban Detroit to the Grand Rapids market.

Published in Finance
Sunday, 04 September 2016 15:18

MiBiz Growth Report: Sept. 6, 2016

Here is the MiBiz Growth Report for Sept. 6, 2016:

• M&A: Lansing-based Eckhart Inc., a portfolio company of private equity firm LFM Capital of Nashville, Tenn., acquired Auto Craft Tool & Die Inc. and 3 D Sales Inc., both of Algonac, Mich., in a deal to add more controls, robotics, and automation-based solutions and distribution capabilities. Auto Craft operates facilities in Marine City, where it makes material handling systems and specialized tooling for industrial manufacturers. The company manufactures door and instrument panel carriers and automatic guided carts. The related 3 D Sales business distributes industrial ergonomic and work cell components. The deal, the terms for which were not disclosed, was the first for Eckhart, a manufacturer of ergonomic assembly line equipment that last year joined the LFM Capital portfolio. The Nashville-based private equity firm focuses on lower middle-market manufacturers and industrial services providers with enterprise values in the $15 million to $75 million range.

Published in Breaking News

Tuesday, 30 August 2016 15:32

Detroit-based Level One Bank enters Grand Rapids market

Moving outside of its Detroit-area market for the first time, Level One Bank plans to enter the Grand Rapids area.

Published in Breaking News