Displaying items tagged: PNC Bank

West Michigan’s industrial economy ended 2022 in a downward trend.

For the next year, Huntington Bank can claim bragging rights in the Grand Rapids market after edging into the leading position for deposit market share that Fifth Third Bank has held for decades.

The new West Michigan regional president for Huntington Bank moved into the job with nearly three decades of experience in the market.

Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments.

Krista Flynn, who started this week in a new role as Midwest regional executive for commercial banking at PNC Bank, discusses the current lending environment in what she describes as relatively volatile economic conditions.

PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest.

Economists at PNC Bank and Comerica Inc. both expect the Federal Open Market Committee to begin raising interest rates next week.

Borrowing could cost a little more in 2022 should the Federal Reserve follow expectations and begin raising interest rates.

Two local community banks are following the industry’s deeper push into digital banking that has accelerated since the onset of the COVID-19 pandemic last year.

The expansion of West Michigan’s industrial economy moderated in June as some companies report ongoing supply chain issues, according to a monthly survey.

Bank lending for commercial real estate and development held steady through the first quarter as some sectors experienced high demand and others remained somewhat soft as the COVID-19 pandemic surpassed a year.

Michigan retailers are approaching the holiday shopping season with optimism and expectations for higher online sales, despite reporting lower sales for last month and new state restrictions from the COVID-19 pandemic.

Plummeting freight rates paired with the economic slowdown that accompanied the COVID-19 pandemic took its toll on trucking company DIS Transportation LLC, leading the Kentwood-based business to file for Chapter 11 bankruptcy.

Chief executives expect the state and U.S. economies to stabilize or perform better in the months ahead and continue to rebound from sharp pandemic-related declines in the spring.

More than seven in 10 small businesses in Michigan expect further sales declines from the COVID-19 pandemic in the months ahead, according to new survey results from the Small Business Association of Michigan.

Economic conditions for Michigan and across the U.S. should keep improving through 2020 and into 2021, according to recent outlooks.

Birgit Klohs, the dean of economic developers in West Michigan and across the state, plans to retire after more than three decades of leading The Right Place Inc.

West Michigan’s industrial economy further improved in July as three of four key activity indexes moved back to positive territory after sharp declines this spring from the economic fallout of the COVID-19 pandemic.

The M&A market that slowed in the first half of 2020 with the onset of the COVID-19 pandemic should rebound well over the next 12 months as deals that got put on hold go forward, according to a midyear survey by law firm Dykema Gossett PLLC.

After canceling this year’s ArtPrize because of concerns over COVID-19, organizers of Grand Rapids’ flagship arts event and the largest art competition in the world have avoided questions about whether it will return.

Bankers across the region have been focused on working with small business clients to secure loans from the federal Paycheck Protection Program, as well providing payment deferrals and adjusting loans for business borrowers hit hard by the COVID-19 pandemic. 

The COVID-19 pandemic will take a fast bite of more than $3 billion out of West Michigan’s economic output, driving the region into recession along with the rest of the country.

University of Michigan economists expect the coronavirus and COVID-19 pandemic to drive the U.S. economy into recession for the second quarter.

Today’s emergency interest rate cut could aid a slowing U.S. economy facing a significant threat from the coronavirus outbreak, according to Comerica Inc. economists.

The U.S. economy maintained moderate growth to start 2020, although the coronavirus crisis in China could cause problems.

This is the growth report for Feb. 2, 2020.

SHELBY — Family-owned fruit processor Peterson Farms Inc. is expanding its operations in Oceana County, north of Muskegon. 

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. 

Business owners surveyed by PNC Bank remain optimistic about the local and national economies, despite worries about tariffs and pricing pressures and outlooks for slower growth ahead.

Optimism about the economy remained high going into the third quarter among Michigan businesses surveyed by PNC Bank.