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Displaying items tagged: finance

Sunday, 20 December 2020 18:40

Experts forecast sustained growth for the U.S. economy in 2021

The U.S. economy that got hammered by the COVID-19 pandemic this spring heads toward 2021 on the rebound, although a surge in cases during the fall and renewal of restrictions in many states may limit economic growth nationally early in the new year.

Published in Economic Development
Sunday, 20 December 2020 18:20

Wealth managers wish for clarity on federal taxes, stock market sustainability

Wall Street dealt with its share of volatility in 2020, a year with a deep decline at the outset of the pandemic followed by a later rebound. Citing volatility in the stock market over the last few years, some investors have shifted toward safety in managing their money. Susan Vogel-Vanderson, the managing director for Fifth Third Private Bank in West Michigan, hopes the new year brings some certainty to financial markets. A trusts and estates attorney, Vogel-Vanderson also is monitoring what could happen to tax rates in 2021 under the Biden administration, particularly if Democrats take control of the U.S. Senate after the Georgia runoffs.

Published in Finance
Sunday, 20 December 2020 18:30

Pandemic cements move to remote work, automation; more stimulus needed

John Ruther joined the Grand Rapids office of O’Keefe Consulting LLC in July as managing director. The company, based in Bloomfield Hills, offers a range of services including turnaround and restructuring consulting, corporate finance and litigation support. Ruther spoke with MiBiz about his view that some of the business practices that employers adopted in the pandemic — remote work and accelerating the use of automation — will remain in place in 2021 and beyond.

Published in Finance

Thursday, 10 December 2020 17:14

New $200M fund builds on prior success, to include focus on minority-owned businesses

A new $200 million fund to support growing businesses in Michigan intends to direct half of the capital it raises to financing minority-owned companies.

Published in Finance
Sunday, 06 December 2020 18:15

Reporter's Notebook: Getting to know you

Raising capital for a startup company is never easy, though there are steps entrepreneurs with a dream and a vision can take to help their cause.

Published in Finance
Sunday, 06 December 2020 18:10

Grand Angels taps Dale Grogan as managing partner to expand reach across state

GRAND RAPIDS — The new managing partner for Grand Angels looks to tap his statewide contacts to build a bigger presence among early-stage investors.

Published in Finance

Sunday, 06 December 2020 16:48

Lighthouse Group acquisition could spur more Michigan deals for Chicago-area firm

The Chicago-area insurance brokerage firm that acquired Grand Rapids-based Lighthouse Group intends to look for other deals in Michigan.

Published in Finance
Monday, 30 November 2020 17:00

Grand Angels names Dale Grogan as new managing partner

GRAND RAPIDS — Angel investor group Grand Angels has named Dale Grogan as its new managing partner.

Published in Finance
Sunday, 22 November 2020 17:09

Pandemic-fueled uncertainty cools outlook for bank M&A

Compared to a year ago, fewer bankers expect their institutions to make an acquisition in the next 12 months, as they focus on navigating through the financial fallout of the COVID-19 pandemic.

Published in Finance

Tuesday, 17 November 2020 16:20

Comerica economists say Michigan is ‘well positioned’ despite latest COVID-19 restrictions

Even with new COVID-19 restrictions in place for the next three weeks, Michigan sits “well positioned” to eventually recover economically from the COVID-19 pandemic, according to a new Comerica Inc. outlook.

Published in Finance
Tuesday, 10 November 2020 11:51

Holland medical device developer raises more than $21M in capital round

HOLLAND — Raising nearly $21.6 million gives Shoulder Innovations Inc. the capital needed to scale up operations and bring new products to market.

Published in Health Care
Sunday, 08 November 2020 18:50

UFCU to take commercial lending to ‘next level’ with Edgewater Bank acquisition

ST. JOSEPH — The proposed acquisition of Edgewater Bancorp Inc. would give United Federal Credit Union greater expertise to further grow commercial lending.

Published in Finance

Thursday, 05 November 2020 16:56

Wolverine World Wide reports strong e-commerce despite revenue decline

ROCKFORD — Wolverine World Wide Inc. reported a strong performance from its e-commerce business in a third quarter earnings report Thursday, though quarterly and year-to-date revenue are down compared to last year.

Published in Finance
Tuesday, 03 November 2020 10:00

Mercantile Bank expands outside of Michigan with Cincinnati mortgage lending office

Mercantile Bank’s move into Ohio with the opening of a Cincinnati mortgage lending office will allow the Grand Rapids-based bank to “put a flag down there,” bank officials say.

Published in Finance
Wednesday, 28 October 2020 16:42

ChoiceOne Q3 earnings growth reflects recent acquisitions

ChoiceOne Financial Service Inc. has reported significantly higher quarterly earnings following the completion of two acquisitions in the last year.

Published in Finance

Wednesday, 28 October 2020 11:07

M&A outlook shows ‘surprising level of optimism’ for 2021

M&A deal flow that was dampened during the pandemic could soar in 2021, according to an annual outlook of executives and M&A professionals.

Published in Finance
Tuesday, 27 October 2020 12:46

Independent Bank reports Q3 earnings growth

Independent Bank Corp. grew earnings in the third quarter against the “many challenges” of the COVID-19 pandemic.

Published in Finance
Tuesday, 27 October 2020 11:52

United Federal Credit Union to acquire Edgewater Bank in ‘collaboration’ deal

ST. JOSEPH — United Federal Credit Union would broaden its footprint in Southwest Michigan with the planned acquisition of Edgewater Bancorp Inc.

Published in Finance

Monday, 26 October 2020 10:28

Mercantile Bank selling Hastings office amid shift to fewer branches

HASTINGS — Mercantile Bank Corp. plans to sell a Hastings branch office to Lake Trust Credit Union as part of an ongoing initiative to shrink its office footprint.

Published in Finance
Sunday, 25 October 2020 18:00

New Chapter 11 laws offer small businesses a timely, cost-effective lifeline

For more than 45 years, Purple East has been a stalwart alternative lifestyle retailer in Grand Rapids, gaining a reputation for selling an assortment of clothing, glass pipes and smoking accessories.

Published in Finance
Sunday, 25 October 2020 17:48

M&A deals for distressed companies expected to pick up in months ahead

The COVID-19 pandemic that slammed the economy this spring could generate more M&A deals in the months ahead.

Published in Finance

Friday, 23 October 2020 10:06

Macatawa Bank reports lower Q3 earnings yet ‘solid profitability’

HOLLAND — Costs from the COVID-19 pandemic lowered Macatawa Bank Corp.’s most recent quarterly earnings.

Published in Finance
Thursday, 22 October 2020 16:40

Kent County small business relief program offering another $3.5M in assistance

Kent County has added $3.5 million to a grant program providing financial assistance to small businesses ailing from the financial fallout of the COVID-19 pandemic.

Published in Finance
Wednesday, 21 October 2020 17:59

Business, community leaders reflect on ‘giant in our community’ Peter Secchia

Business and community leaders on Wednesday remembered Peter Secchia as a business leader and generous philanthropist who helped to shape West Michigan over the past several decades.

Published in Finance

Tuesday, 20 October 2020 13:06

Mercantile Bank records lower Q3 earnings amid ‘challenging operating environment’

GRAND RAPIDS — Mercantile Bank Corp. recorded lower third quarter earnings amid what President and CEO Robert Kaminski Jr. called a “challenging operating environment” from the COVID-19 pandemic.

Published in Finance
Thursday, 15 October 2020 12:40

Employee group takes majority ownership of Grand Rapids investment advisory firm

GRAND RAPIDS — An employee group has taken a majority ownership position in investment advisory firm Red Cedar Investment Management.

Published in Finance
Sunday, 11 October 2020 17:00

West Michigan investors join growing interest in craft distillery market

The 18 Michigan investors who invested in a Florida craft rum distiller are backing a fast-growing industry that offers plenty of opportunity.

Published in Finance

Sunday, 11 October 2020 16:38

State-backed seed capital fund hits the ground running

A new capital fund seeded with state money got off to a quick start and has made investments in a half dozen young technology companies since launching two months ago.

Published in Finance
Friday, 02 October 2020 06:00

Grand Angels president stepping down for Wisconsin community foundation job

GRAND RAPIDS — Grand Angels President Tim Parker has stepped down to run a community foundation in Wisconsin.

Published in Finance
Wednesday, 30 September 2020 16:45

Grand Rapids venture capital fund secures millions for minority-owned companies

A Grand Rapids-based venture capital fund that will invest nationally in companies owned by minorities has secured commitments now totaling $6.25 million, with potentially millions more on the way.

Published in Finance

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