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Four and a half years after opening its first office in suburban Grand Rapids, the parent corporation of Grand River Bank wants to raise new capital — and it’s not alone among community banks in West Michigan.

Chemical Financial plans $50M public offering

Written by | Saturday, 14 September 2013 13:43 |

Midland-based Chemical Financial Corp. (Nasdaq: CHFC) could raise more than $50 million in a public stock offering the company announced on Friday.

As key components of the federal Affordable Care Act take effect in 2014 that mandate coverage and benefit levels, employers and health insurers also face an array of new taxes and fees that will drive up costs.

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.

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