Mark Kolanowski assumes the chairmanship of the Community Bankers of Michigan as consolidation in the industry begins to pick up, driven by the rising costs of complying with federal regulations enacted from the 2008 financial crisis and the current period of “tepid” economic growth.
As volumes grew during the past year, the U.S. Small Business Administration has again decided to waive fees for loans of less than $150,000 that are made under its primary lending program.
After successfully executing its first-ever merger this summer, Mercantile Bank Corp. remains open to further deals in the future.
National survey results suggest that mergers and acquisitions involving community banks could pick up in the next year or more as institutions cope with growth pressures, high regulatory compliance costs and even “management fatigue.”
Federal regulators hit Lighthouse Title Inc. with a $200,000 fine for what the company’s president says has been a common industry practice that’s now at a “watershed moment.”
Buying a family-owned business requires much more than settling on the right price, mergers and acquisitions professionals say.
Bankers in West Michigan say that in just a few short years, mobile banking through tablet and smartphone apps has grown to become a service that they must offer for customer convenience.
The new financial institutions practice formed by Charter Capital Partners LLC in Grand Rapids seeks to tap into an emerging consolidation trend involving community banks.
Grand Rapids-based Founders Financial Corp. had always expected Founders Bank & Trust to remain an independent community bank, but a key deal for an Ann Arbor lender in January convinced directors to re-evaluate their plans.
Perrigo Co.’s blockbuster $8.6 billion deal for Elan Corp. took just six weeks to put together.
The structure of the “transformational” merger last year that created SpartanNash Inc. set the Byron Center-based company on a course to take advantage of the growing consolidation trend in the supermarket industry.
A year ago, David Kennedy and David Bubnar found themselves facing a major decision.
As the automotive sector continues on the road to recovery, companies in the supply chain have looked for ways to add capacity, either through new facilities or by acquiring other suppliers.
A complementary deal between two manufacturers in the niche of high-end, luxury furniture has paid off for the more than a century-old Kindel Furniture Co. LLC.
Lambert, Edwards & Associates Inc.’s acquisition in April of Lansing-based Sterling Corp. thrust the Grand Rapids-based public relations and investor relations firm into a new service area: public affairs and legislative communications.