Displaying items tagged: finance
The first managing director of a venture capital fund that plans to invest in businesses owned by people of color sees an opportunity to pioneer an initiative for greater economic diversity in West Michigan.
PETOSKEY — Mercantile Bank Corp. has expanded further in the northern Lower Peninsula with the opening of a lending office in Northern Michigan.
GRAND RAPIDS — Private equity firm Blackford Capital has added to its holdings in the hospitality sector with the acquisition of ID Collaborative Inc., a Greensboro, N.C.-based interior design firm.
NORTON SHORES — Nichols Paper & Supply Co., a Norton Shores-based distributor of paper, industrial packaging and sanitary supplies, has been acquired by a New Jersey-based distributor with deep experience in food service packaging and janitorial supplies.
HOLLAND TWP. — Macatawa Bank Corp.’s third-quarter earnings grew slightly from a year earlier amid strong deposit growth.
SPARTA — ChoiceOne Financial Services Inc. reported strong earnings growth over the third quarter from a year earlier that included merger-related expenses.
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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.
GRAND RAPIDS — Private equity firm Auxo Investment Partners has entered the railroad business with the acquisition of maintenance company Genesis Rail Services LLC.
Gov. Gretchen Whitmer seeks to inject $200 million into Michigan technology startups using federal pandemic relief funds.
CrossLiner Inc. secured a $2 million venture capital investment in the third quarter that will help the company move closer to the marketplace with a new cardiac catheterization device.
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.
Comerica Inc. economists have lowered their expectations for U.S. economic growth next year while raising the forecasted inflation rate in their latest outlook.
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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.
ANN ARBOR — Michigan-based cannabis company Skymint Inc. has acquired 3Fifteen Cannabis in a deal that broadens the company’s position across the state.
WALKER — Greatland Corp., which provides tax reporting services to businesses nationwide, has acquired a New York firm that provides W-2 and 1099 preparation forms and software.
GALESBURG — Indiana-based fiber optic provider MetroNet, which services clients across the U.S., announced on Wednesday that it has acquired Southwest Michigan-based fiber optic internet provider CTS Telecom Inc.
GRAND RAPIDS — Acrisure LLC has hired a new chief financial officer who comes from The Walt Disney Co. and will play a key role in helping the company grow beyond the core insurance business.
GRAND RAPIDS TWP. — Relocating its headquarters closer to Grand Rapids will give Union Bank a bigger presence in a market that’s been generating growth for a few years.
The path that Jeff Williams charted years ago was designed to ensure that Grand Wealth Management LLC continues well past his eventual retirement.
SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.
ADA — Century Technology Group Inc. continues to add to its portfolio of technology-focused companies with the acquisition of a Grand Haven-based emerging tech and media firm.
An additional $6.5 million state investment gives pre-seed fund Michigan Rise more capital to back a strong pipeline of startup companies.
TRAVERSE CITY — The $3.1 billion deal to combine Hagerty Insurance Group LLC with Aldel Financial Inc. would create a publicly traded company that expects to maintain significant growth.
Union Bank plans to move its corporate office to a new facility now under construction in Grand Rapids Township.
TRAVERSE CITY — Specialty auto insurer Hagerty Group LLC will combine with special purpose acquisition company Aldel Financial Inc. in a $3 billion deal that would make Hagerty a publicly traded company once the merger closes.
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.
Businesses that received a federal Paycheck Protection Program loan and are growing or intend to seek financing for an expansion should apply for loan forgiveness as soon as possible, according to bankers.
A 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.
GRAND RAPIDS — Dick DeVos has announced plans to step down as president of The Windquest Group.
GRAND RAPIDS — Michigan Capital Network plans to form a fourth venture capital fund.