Professionals expect a vibrant M&A market and strong deal flow this year amid easing U.S. economic growth and rising interest rates.
Krista Flynn joined Chemical Bank in July as regional president for West Michigan, leading a market that includes Grand Rapids and Holland. She previously spent seven years in corporate banking at PNC Bank and 15 years at JPMorgan before going to work at Chemical, the largest bank based in Michigan. Chemical Bank, with more than $20.9 billion in total assets, has been building its commercial banking and wealth management staff, and is presently building out a new regional headquarters in downtown Grand Rapids. Parent company Chemical Financial Corp. also plans to develop a new corporate headquarters in downtown Detroit.
A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores.
Seeking to drive growth and reach further into middle market companies across the Midwest, Chemical Bank has steadily added to its roster of commercial bankers since last summer and developed lending specialties.
It’s been a tumultuous time for large retailers as consumers gravitate to the convenience of e-commerce and consciously shift their buying habits to local options. As these shifts continue to drive change and stress in the retail industry, many stakeholders still believe it offers significant opportunity. In separate interviews, MiBiz connected with retail advisers to gather their thoughts on the state of the industry, why it’s changing and where it’s going. They were:
Chemical Financial Corp. plans to close and consolidate 25 more branches by the end of the year and trim its workforce 7 percent in a cost-cutting initiative that will generate $20 million in annualized savings.
GRAND RAPIDS — Horizon Bank’s move into the West Michigan market provided an opportunity to launch a private banking service based in Grand Rapids that will eventually extend across the corporation.
Longtime surface parking lots in the city’s downtown central business district continue to give way to a new, large-scale development.