With the integration of the former Firstbank Corp. nearly complete following the acquisition last summer, Mercantile Bank Corp. moved into 2015 targeting loan and revenue growth across a far broader market.
The driving force behind Lake Michigan Financial Corp.’s proposed $184.1 million sale to Chemical Financial Corp. represents a contrast to what’s been driving most of the consolidation in the banking industry.
Continuing to grow through acquisitions, Chemical Financial Corp. said it plans to acquire Holland-based Lake Michigan Financial Corp. in a $184.1 million deal.
Before directors at Coldwater-based Monarch Community Bancorp Inc. explored the possibility of a sale or acquiring other banks itself, the organization needed to complete a successful recapitalization strategy and to emerge from under increased regulatory scrutiny.
Private equity deal flow was strong in 2014 and Gretchen Perkins believes it will continue that way in 2015 as more business owners look to sell their companies in a good economy. A partner at Detroit-based private equity firm Huron Capital Partners, Perkins expects the economy to continue to improve this year, helping drive opportunity for both buyers and sellers.
Grand Angels, the angel investing group formed a decade ago to back young companies in Michigan, is apparently preparing to create new venture capital fund.
A year-old law aimed to make it easier for all kinds of small businesses in Michigan to raise capital via intrastate crowdfunding. But the only companies consistently taking advantage of the new fundraising tool have been in the food and beverage industry, particularly craft breweries.
As 2014 draws to a close, small business owners still have time to better position their personal finances going into the new year.
The results of PNC Bank’s annual Wealth & Values survey dispel the stereotype of the wealthy as proverbial one-percenters who are only concerned with their personal financial interests.
Michigan continues to rank 13th in the U.S. for its overall business tax burden, holding to a position that improved significantly in the last few years after legislators enacted sweeping changes to the state’s tax code.
If Michigan were a top 10 business state, we’d have 150,000 more jobs and an average of $12,000 more in individual income.
Better access to capital and bank lending, higher valuations and greater optimism in the economy should make for the continuation of a “very hot” M&A market into next year.
As Old National Bancorp prepares to expand its market presence in Michigan with the acquisition of Founders Financial Corp. in Grand Rapids, executives cite a past deal as generating good volume growth in the state.
Owners who want to sell their businesses need to begin preparing years in advance and plan carefully to do it right, M&A experts say.
Mergers and acquisition activity should remain solid into 2015 as business executives and professionals in the field hold a better view of the U.S. economy, according to an annual survey.
After successfully executing its first-ever merger this summer, Mercantile Bank Corp. remains open to further deals in the future.
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