Displaying items tagged: finance
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.
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.
Acrisure inks naming rights deal for SoCal stadium
A new Southern California sports and entertainment venue will take its namesake from a Grand Rapids-based insurance broker and financial technology firm.
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.
Grand Rapids CPA firm Beene Garter merges into Troy-based Doeren Mayhew
Grand Rapids accounting firm Beene Garter LLP has merged into Troy-based Doeren Mayhew.
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.”
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Reporter’s Notebook: West Michigan balances lagging wages with regional amenities
If it’s money that matters most when people look for work or to relocate for a new job, then West Michigan may be at a disadvantage in competing for the coveted talent needed to drive economic growth.
Hastings Mutual Insurance Co. President and CEO to retire; industry veteran to take over
HASTINGS — Hastings Mutual Insurance Co. President and CEO Joseph Babiak plans to retire on March 31.
Lighthouse Group expands lakeshore presence with Gales Agency acquisition
GRAND RAPIDS — Insurance and employee benefits agency Lighthouse Group has acquired Gales Agency from Shelby State Bank.
Investment adviser anticipates more stock market volatility in 2022
Jerry VanderLugt sees Wall Street with further volatility in 2022. The founder and principal of JVL Wealth Strategies LLC, which recently moved to a new office in Wyoming, VanderLugt spoke with MiBiz about the market in the new year, the prospect of rising interest rates and higher inflation, and where investors are looking to put their money these days.
King named permanent CEO of Gun Lake Investments; activity to accelerate in 2022
Gun Lake Investments started 2022 with a permanent CEO in place and plans to become more active in the market.
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.
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Economists forecast ongoing statewide rebound in 2022
Michigan’s economy and jobs are expected to continue to recover in 2022 from the deep downturn last year resulting from the COVID-19 pandemic.
U.S. economic growth forecasts tempered by ongoing COVID, market concerns
The latest coronavirus variant to emerge in a nearly two-year pandemic creates further uncertainty for the U.S. economy in 2022, although economists generally expect continued strong growth.
Bank M&A expected to surge next year after pandemic lull
The new year could bring a continued acceleration of M&A in the banking industry.
Auxo continues rail sector growth with latest acquisition
Auxo Investment Partners reached further into the rail industry with the acquisition of Ferrovia Services LLC, an Auburn, Ala.-based railroad vegetation management company.
Fox Motors expands to metro Detroit with two Erhard dealership acquisitions
Fox Motors has gained a foothold in the metro Detroit market by acquiring two longtime Farmington Hills-based dealerships.
New hire part of Michigan Women Forward’s West Michigan, loan expansion
Hiring a new business development director who’s based in Grand Rapids is part of Michigan Women Forward’s goal to build a larger West Michigan market presence for business lending and support for female-owned businesses and entrepreneurs of color.
Survey: Pay raises grow in a year marked by tight labor market
Employers competing for talent in a tough labor market across the region used larger pay raises in 2021 than in previous years, according to an annual wage and salary survey.
Michigan Capital Network expands to Saginaw, Midland markets with addition of BlueWater Angels
GRAND RAPIDS — Michigan Capital Network has further expanded its angel investment network across the state with the addition of Saginaw-based BlueWater Angels.
MiBiz on WOOD-TV: The Right Place expands to Mason, Mecosta counties
GRAND RAPIDS — Regional economic development organization The Right Place Inc. recently announced new partnerships that would bring its services and expertise to Mason and Mecosta counties in West Michigan.
Gage eyes retail cannabis acquisitions after securing $55M in financing
DETROIT — Vertically integrated cannabis company Gage Growth Corp. has secured a $55 million senior secured term loan to support retail acquisitions in Michigan and provide working capital.
Bill would allow tax credit on investments in Michigan-based businesses
Individuals investing in Michigan-based businesses could seek a credit on the state’s income tax under legislation proposed in Lansing.
PE deals expected to drive record-breaking year for M&A in 2022
A recovering U.S. economy and readily available capital to finance deals are expected to drive M&A activity even higher in 2022.
Bankers: Commercial lending remains strong despite various economic headwinds
Given all that’s occurred in the past 20 months, Krista Flynn considers the present lending environment a pleasant surprise.
Finance experts prepare for likely interest rate increase in 2022
Borrowing could cost a little more in 2022 should the Federal Reserve follow expectations and begin raising interest rates.
MiBiz on WOOD-TV: Bell’s Brewery deal latest in West Michigan craft beverage acquisitions
GRAND RAPIDS — Bell’s Brewery Inc.’s announcement last week that it’s selling to the parent company of New Belgium Brewing Co. sent shockwaves through Michigan’s craft beverage industry. It also represents the latest in a series of high-profile deals involving Michigan craft beverage companies.
2022 M&A activity expected to remain strong, according to new outlook
A hot M&A market should get even hotter in the coming year, according to the results of law firm Dykema Gossett PLLC’s latest annual M&A outlook survey.
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.
MiBiz on WOOD-TV: New Community Transformation Fund names first managing director
GRAND RAPIDS — A venture capital fund that plans to invest in minority-owned businesses has named Ollie Howie as its first managing director.