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Displaying items tagged: 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
Thursday, 29 July 2021 10:06

ChoiceOne reports higher quarterly earnings amid ‘signs of economic recovery’

SPARTA — ChoiceOne Financial Services Inc. reported higher second-quarter earnings as the economic recovery from the COVID-19 pandemic continues.

Published in Finance
Tuesday, 27 July 2021 22:47

NBA star Chris Paul among latest investors in GR-based sports tech firm

GRAND RAPIDS — Sports technology firm MaxOne LLC announced this week that it has raised $3.5 million in capital, which includes an investment from professional basketball star Chris Paul.

Published in Finance

Tuesday, 20 July 2021 12:15

Mercantile Bank more than doubles quarterly earnings as lending remains strong

GRAND RAPIDS — Mercantile Bank Corp. more than doubled earnings for the second quarter as growth in commercial and residential mortgage lending remained strong.

Published in Finance
Sunday, 18 July 2021 17:46

Retaining clients, talent top priorities for Huntington execs after TCF merger

The $22 billion merger with TCF Financial Corp. brought new leadership for Huntington Bancshares Inc. in West Michigan that’s focused on retaining talent and customers while executing a massive corporate pledge to small businesses and underserved markets.

Published in Finance
Sunday, 04 July 2021 16:30

Baldwin bank raises $15M to support growth

BALDWIN — A surge in deposits led a small community bank serving rural markets north of Grand Rapids to raise $15 million that will go to support growth and maintain regulated capital ratios.

Published in Finance

Friday, 25 June 2021 12:32

West Michigan lenders receive $13.2M in federal funds to help underserved businesses, individuals

Several West Michigan credit unions and community lenders received a combined $13.2 million in federal funding that they can use to assist underserved businesses and individuals affected by the COVID-19 pandemic.

Published in Finance
Sunday, 20 June 2021 17:10

GR Venture Capital scours market for small biz investments, acquisitions

As an investor and acquirer of small businesses, Steve Barnes is scouting a market that appears to hold plenty of opportunity.

Published in Finance
Wednesday, 16 June 2021 17:09

Lake Michigan Credit Union continues Florida expansion with planned acquisition

Lake Michigan Credit Union will gain a larger presence along Florida’s Gulf Coast with the acquisition of a community bank.

Published in Finance

Thursday, 10 June 2021 12:26

United Bank plans first lakeshore branch in Holland

United Bank of Michigan plans to expand to the lakeshore market with the opening of a branch office next year in Holland.

Published in Finance
Tuesday, 08 June 2021 13:02

Consumers Energy to sell bank subsidiary in $960 million deal

JACKSON — CMS Energy Corp. plans to sell a Utah-based bank that specializes in home improvement lending nationwide.

Published in Finance
Sunday, 06 June 2021 16:55

Sleeping Giant Capital marks first year with investment, developing students

KALAMAZOO — The Western Michigan University management professors behind an investment fund that looks to cultivate and support a new generation of entrepreneurs hope to complete fundraising by the end of 2021.

Published in Finance

Sunday, 06 June 2021 17:15

Branch acquisitions to expand Horizon Bank’s Michigan reach

Buying 14 offices in the central and northern Lower Peninsula from TCF Bank provides a broader stage for Horizon Bancorp Inc.’s further expansion in Michigan.

Published in Finance
Sunday, 06 June 2021 17:45

Share increase positions ChoiceOne Bank for potential acquisitions

Raising the number of authorized shares by 25 percent gives ChoiceOne Financial Services Inc. greater ability to pursue another acquisition should the opportunity arise.

Published in Finance
Friday, 04 June 2021 11:55

Consumers Credit Union expands along lakeshore with Muskegon office

MUSKEGON — Consumers Credit Union has started construction on a new office in Muskegon that will expand its presence along the lakeshore.

Published in Finance

Friday, 28 May 2021 10:07

Honor Credit Union to add Wyoming office after ATL acquisition

Honor Credit Union will add an office in the Grand Rapids area with the planned acquisition of the smaller ATL Federal Credit Union.

Published in Finance
Sunday, 23 May 2021 17:20

New $30M VC fund aims to get medical devices to market

GRAND RAPIDS — A venture capital firm that invests in medical device technologies wants to raise $30 million for a new fund to support portfolio companies progressing with commercializing their innovations.

Published in Finance
Thursday, 13 May 2021 17:18

Comerica economists forecast ‘significant expansion,’ though supply chain problems are limiting growth

Michigan’s economy should record “significant expansion” in 2021 after last year’s decline from the COVID-19 pandemic, although a global shortage of computer chips is “choking off” auto production during a period of high demand, according to a new economic outlook.

Published in Economic Development

Sunday, 09 May 2021 18:20

Michigan banking groups back federal cannabis bill

Federal legislation advancing through Congress this session could lead to more banks serving marijuana-related businesses in the U.S. and Michigan.

Published in Finance
Sunday, 09 May 2021 17:20

Michigan VC industry focuses on cultivating more diversity in staff, investments

Michigan’s venture capital industry made modest strides in the last few years to create greater diversity within its ranks and in the number of startups run by women or minorities that receive investments.

Published in Finance
Sunday, 09 May 2021 17:00

Commercial real estate lending remains solid as some sectors outperform others

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.

Published in Finance

Friday, 30 April 2021 11:23

Edgewater Bank, UFCU complete merger

ST. JOSEPH — Edgewater Bank branches become part of United Federal Credit Union next week following federal regulatory and shareholder approvals of a merger between the two.

Published in Finance
Wednesday, 28 April 2021 10:46

Independent Bank quarterly earnings soar with strong mortgage market

GRAND RAPIDS — Independent Bank Corp.’s first quarter soared from a year earlier, driven in part by a strong mortgage market.

Published in Finance
Sunday, 25 April 2021 16:10

Grand Rapids PE firm sees opportunity in hotel supplier

The COVID-19 pandemic that’s battered the hospitality industry generates an opportunity for Grand Rapids private equity firm Blackford Capital to grow a recently merged portfolio company.

Published in Finance

Sunday, 25 April 2021 16:00

Report: Venture capital investments cut in half during pandemic

Venture capital investors in Michigan backed more startup companies in 2020 than ever before, though the amount they put into deals declined by half in a year when the COVID-19 pandemic altered deal flow.

Published in Finance
Friday, 23 April 2021 10:15

Macatawa Bank Q1 gains spurred by mortgages

HOLLAND — Macatawa Bank Corp. reported higher earnings for the first quarter as gains on mortgages tripled from a year earlier and more than offset lower interest income.

Published in Finance
Wednesday, 21 April 2021 17:32

Community Shores acquisition helps boost ChoiceOne’s Q1 earnings

SPARTA — ChoiceOne Financial Services Inc.’s quarterly earnings nearly doubled from a year earlier following an acquisition last fall.

Published in Finance

Tuesday, 20 April 2021 10:54

Mercantile Bank reports ‘extremely strong’ start to 2021

GRAND RAPIDS — Strong income from mortgage lending helped to push Mercantile Bank Corp.’s earnings higher for the first quarter.

Published in Finance
Friday, 16 April 2021 11:42

High Street Partners insurance brokerage acquired by Boston PE firm

TRAVERSE CITY — A Boston private equity firm has acquired Traverse City-based High Street Insurance Partners Inc., an insurance brokerage platform company formed in 2018 that has since acquired two-dozen agencies across the U.S.

Published in Finance
Friday, 09 April 2021 12:49

Survey: Federal tax increases among top concerns for M&A sector

Experts view the mergers and acquisitions market and U.S. economy with slightly more optimism than six months ago, although the prospect of corporate and other federal tax increases has them concerned about the resulting effects on deal flow.

Published in Finance

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