Professionals expect a vibrant M&A market and strong deal flow this year amid easing U.S. economic growth and rising interest rates.
Bank of America’s West Michigan operations had a record year in 2018 in terms of the number of new business clients. The year came on top of similar results in 2017, when the bank consolidated local operations into a single office in downtown Grand Rapids, a move that better organized and generated greater collaboration among staff in pursuing new business. Echoing the sentiment of other local executives, Tabben said business clients are working to cope with the region’s tight labor market.
Rising interest rates won’t lead to change in how banks underwrite credit, although business borrowers need to monitor their effects if they opt for a variable-rate commercial loan.
GRAND RAPIDS — The sign in the window at 250 Monroe Avenue that reads “A new way to bank: coming soon” teases passersby of the new digital branch that Bank of America soon plans to open downtown.
Bank of America’s planned move to a new regional office in downtown Grand Rapids comes as the bank seeks to grow its West Michigan presence.
Bank of America plans to lease 40,000 square feet of space at 250 Monroe NW in Grand Rapids as the bank looks to grow its market presence in the region.