Displaying items tagged: banking

Monday, 13 March 2023 17:16

Michigan bankers, investors plot path forward following demise of Silicon Valley Bank

Even as financial stocks tumbled, Michigan bankers and venture capitalists said they’re operating “business as usual” on Monday, the first business day since the collapse of Silicon Valley Bank.

Published in Finance
Wednesday, 21 December 2022 18:19

Cannabis banking exec expects Michigan prices to continue falling, more M&A in 2023

Prices in Michigan’s cannabis industry plummeted in 2022, leading to some closures and layoffs, and could fall even further in 2023 as more players enter the business.

Published in Finance
Wednesday, 26 October 2022 10:41

Lake Michigan Credit Union to unify brand under ‘LMCU’ amid growth in Michigan, Florida

GRAND RAPIDS — Lake Michigan Credit Union has launched a rebranding to create a common brand identity in Michigan and Florida using just its initials.

Published in Finance

Monday, 15 August 2022 16:17

Advia Credit Union names Fielder as next CEO under transition plan

KALAMAZOO — Advia Credit Union has named longtime Chief Financial Officer Jeff Fielder as its next president and CEO.

Published in Finance
Tuesday, 09 August 2022 22:14

Banking executives see strong commercial lending environment at midyear

Business lending remained strong through midyear despite rising interest rates and economic uncertainty that’s generating worries about a potential recession, according to regional banking executives.

Published in Finance
Thursday, 28 July 2022 14:32

Sylvester takes over Consumers Credit Union after longtime CEO retires

KALAMAZOO — A new chief executive officer took over this month at Kalamazoo-based Consumers Credit Union.

Published in Finance

Monday, 18 July 2022 07:44

Huntington Bank names new West Michigan regional president

Huntington Bancshares Inc. has named a veteran banking executive and longtime West Michigan resident to lead its regional division.

Published in Finance
Monday, 27 June 2022 10:52

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.

Published in Finance
Tuesday, 07 June 2022 13:08

MSU Federal Credit Union plans second Grand Rapids-area branch

MSU Federal Credit Union plans to add a second office in the Grand Rapids market.

Published in Finance

Tuesday, 17 May 2022 15:56

Federal agencies propose ‘long overdue’ changes to equitable lending rules as banking moves virtual

A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices.

Published in Finance
Thursday, 05 May 2022 16:17

Video Q&A: West Mich. banking veteran discusses lending environment amid economic volatility

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.

Published in Finance
Tuesday, 03 May 2022 16:18

Flynn named Midwest regional executive of commercial banks for PNC

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

Published in Finance

Monday, 02 May 2022 17:55

Huntington Bank CEO ‘very bullish’ on regional economy as company integrates TCF

Huntington Bancshares Inc.’s acquisition last year of Detroit-based TCF Financial Corp. created the second-largest bank operating in Michigan for deposit market share and with more branch offices than any other bank. The Columbus, Ohio-based Huntington, which also now ranks among the 20 largest banks in the U.S., has since worked to integrate TCF.

Published in Finance
Tuesday, 26 April 2022 18:09

Independent Bank Q1 earnings dip with slower mortgage activity

GRAND RAPIDS — Independent Bank Corp. has recorded lower earnings so far this year as mortgage originations and refinancings slowed.

Published in Finance
Tuesday, 19 April 2022 15:59

Mercantile Q1 earnings decline amid drop in mortgage banking income

GRAND RAPIDS — Mercantile Bank Corp.’s earnings declined in the first quarter from a year earlier as refinancing for home mortgages decreased and reduced fee income.

Published in Finance

Thursday, 07 April 2022 20:23

Traverse City-based credit union plans West Michigan expansion in former TCF branches

A Traverse City-based credit union plans to enter the West Michigan market with the planned opening of three branches in Holland, Zeeland and Muskegon, along with several more in the years ahead.

Published in Finance
Friday, 28 January 2022 13:20

Despite Q4 earnings decline, Independent Bank carries momentum in 2022 with commercial lending 

GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the final three months of 2021 but grew overall for the year.

Published in Finance
Friday, 28 January 2022 13:02

Macatawa Bank reports lower Q4 earnings as PPP loan forgiveness dips

HOLLAND — Macatawa Bank Corp. recorded lower fourth quarter earnings that partly resulted from reduced fee income as fewer federal Paycheck Protection Program loans were forgiven.

Published in Finance

Wednesday, 26 January 2022 19:13

ChoiceOne earnings bolstered by prior mergers; bank positioned for growth following capital raise

SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings for 2021, benefitting from mergers that the bank completed in 2019 and 2020.

Published in Finance
Tuesday, 18 January 2022 16:30

Commercial loans propelled strong earnings for Mercantile Bank in 2021

GRAND RAPIDS — Mercantile Bank Corp. recorded strong earnings in 2021 with loan growth that President and CEO Robert Kaminski Jr. called “nothing short of stellar.”

Published in Finance
Tuesday, 21 December 2021 11:36

Consumers Credit Union CEO retiring after 38 years; COO to take leadership role

KALAMAZOO — The chief executive officer at Consumers Credit Union plans to retire in mid-2022 after 38 years.

Published in Finance

Wednesday, 10 November 2021 15:28

Whitmer joins bipartisan call to pass federal cannabis banking regulations

Gov. Gretchen Whitmer has joined 20 other governors in urging Congress to enact legislation that would enable more banks and credit unions to serve the growing cannabis industry.

Published in Finance
Wednesday, 03 November 2021 14:47

Mercantile Bank expands northern Michigan reach with Petoskey lending office

PETOSKEY — Mercantile Bank Corp. has expanded further in the northern Lower Peninsula with the opening of a lending office in Northern Michigan.

Published in Finance
Friday, 29 October 2021 10:37

Macatawa Bank earnings increase slightly amid deposit, commercial loan growth

HOLLAND TWP. — Macatawa Bank Corp.’s third-quarter earnings grew slightly from a year earlier amid strong deposit growth.

Published in Finance

Thursday, 28 October 2021 16:22

ChoiceOne Bank reports strong Q3 earnings as core deposit base grows

SPARTA — ChoiceOne Financial Services Inc. reported strong earnings growth over the third quarter from a year earlier that included merger-related expenses.

Published in Finance
Tuesday, 26 October 2021 13:43

Independent Bank reports drop in quarterly earnings, though strong commercial lending pipeline remains

GRAND RAPIDS — Independent Bank Corp. recorded lower third-quarter earnings from a year earlier, though year-to-date profits have grown by more than 28 percent.

Published in Finance
Wednesday, 20 October 2021 09:24

Mercantile Bank records strong Q3 commercial loan growth with new clients

GRAND RAPIDS — Mercantile Bank Corp. recorded strong loan growth in the third quarter with an earnings increase of more than 40 percent from a year earlier.

Published in Finance

Tuesday, 07 September 2021 14:19

ChoiceOne Bank raises $32.5 million to support growth plans, shareholder value

SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.

Published in Finance
Wednesday, 25 August 2021 12:29

Union Bank planning new headquarters in Grand Rapids Township

Union Bank plans to move its corporate office to a new facility now under construction in Grand Rapids Township.

Published in Finance
Thursday, 29 July 2021 16:49

Independent Bank earnings dip in latest quarter

GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the second quarter from the prior year, largely because of lower non-interest income and higher non-interest expenses.

Published in Finance

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