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Finance (142)

Mercantile Bank Corp. grew up by catering to small businesses and touting its hometown ties to become one of the top banks in the Grand Rapids-area market.

As its parent company goes through bankruptcy, Michigan Commerce Bank reports improved operating results midway through 2013, including an upgrade in its regulatory capital status.

Formation of an advisory panel led by former Gov. John Engler provides added muscle as private equity firm Blackford Capital scouts for and vets deals across Michigan.

Angel investors worry that new federal rules designed to make it easier for startup companies to solicit prospective investors could do the exact opposite.

The number of venture capital investments in Michigan through mid-2013 equaled those made in the same period last year, although the dollar value was significantly lower.

The proposed merger with Alma-based Firstbank Corp. would take Mercantile Bank Corp. across the state while creating one of the largest banks based in Michigan that would pursue additional acquisitions in the future.

Q&A: Dave Tomko, The Growth Coach

Written by | Thursday, 15 August 2013 00:00 |

After 25 years in the banking business, Dave Tomko decided to strike out on his own and recently opened a Kalamazoo-based office for The Growth Coach, a national business and sales coaching franchise. His goal: to help small business grow and create more jobs.

Technology firms and companies in the life sciences and defense industries are ignoring easy money if they’re not taking advantage of two major federal grant programs.

IONIA — Independent Bank Corp. (NASDAQ: IBCP) filed a registration statement with the Securities and Exchange Commission late Friday afternoon to raise up to $98.9 million through the sale of its common stock.

PNC Bank economists expect Southwest Michigan’s economic recovery to continue to outpace the rest of the nation.

Old National Bank’s acquisition of 20 Bank of America offices brings a new competitor into the Southwest Michigan market, one that has plans for a larger footprint.

Banks based in West Michigan reported further operating improvements for the second quarter, with higher earnings and solid growth in lending.

After tripling the available funding for microloans that support small business owners, Grand Rapids Opportunities for Women (GROW) now wants to partner with local banks to sustain the initiative well into the future.

West Michigan M&A award nominations due Aug. 9

Written by | Thursday, 01 August 2013 12:18 |

2013 is shaping up as a year for mega mergers and transformational transactions in West Michigan. In July alone, West Michigan public companies announced $10.6 billion in mergers and acquisitions with three transactions involving Perrigo ($8.6 billion), Spartan Stores ($1.3 billion) and Gentex ($700 million).

LMCU plots growth on lakeshore, Detroit

Written by | Sunday, 21 July 2013 22:00 |

Seeking to continue on a growth trajectory, Lake Michigan Credit Union plans to expand its presence on the lakeshore and venture into new markets in Traverse City and suburban Detroit.

Lending backed by the U.S. Small Business Administration remains steady in Michigan, driven by a slowly but steadily improving state economy.

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