Displaying items by tag: ChoiceOne Bank
Federal agencies propose ‘long overdue’ changes to equitable lending rules as banking moves virtual
A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices.
ChoiceOne earnings bolstered by prior mergers; bank positioned for growth following capital raise
SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings for 2021, benefitting from mergers that the bank completed in 2019 and 2020.
MiBiz Growth Report: January 17, 2022
Here is the MiBiz Growth Report for January 17, 2022.
Michigan community banks leverage tens of millions in capital raises
The $20 million in capital that West Shore Bank Corp. raised toward the end of 2021 will go to support further commercial loan growth.
ChoiceOne Bank raises $32.5 million to support growth plans, shareholder value
SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.
ChoiceOne reports higher quarterly earnings amid ‘signs of economic recovery’
SPARTA — ChoiceOne Financial Services Inc. reported higher second-quarter earnings as the economic recovery from the COVID-19 pandemic continues.
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Reporter's Notebook: Banker beware
In a recent conference call, the president and CEO of Detroit-based TCF Financial Corp. — the parent company of what remains known in Michigan as Chemical Bank — voiced a simple ethic that all businesses, no matter their industry or their size, must keep in mind in the COVID-19 pandemic.
Lakeshore retailers adapt, move online as some scramble to stay afloat
As the owner of longtime downtown Grand Haven retailer Down To Earth, Sholeh Veiseh has turned to hosting virtual fashion shows and offering sales on social media to bring in some revenue during the coronavirus closure.
Banks leverage new flexibility to help businesses get through pandemic
Small businesses that have been slammed by the coronavirus pandemic and expect to have difficulty making commercial loan payments should call their bankers now to work out possible adjustments.
Grand Rapids an outlier in bank branch openings
As much of the banking industry went in the opposite direction, Sparta-based ChoiceOne Bank opened branches starting in late 2018.
Merger expenses cut into ChoiceOne’s third quarter earnings
SPARTA — Higher expenses mostly related to the Oct. 1 merger with County Bank Corp. cut into third quarter earnings for ChoiceOne Financial Services Inc.
Compassion, Entrepreneurial Spirit Helped Friends Start Business
Bill McIntyre and Michael Merren, owners of ComForCare Grand Rapids, have been providing in-home health care to families in the Grand Rapids area for over 10 years. Their success – compassion. Care like people are your family.
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Entrepreneurial spirit runs deep in West Michigan
It all started as a part-time job in banking while I was in college almost 20 years ago. I’ve always been interested in business and financial markets. And I’ve observed how the entrepreneurial spirit runs deep in West Michigan.
ChoiceOne plans ‘strategic merger of equals’ with SE Michigan bank
Sparta-based ChoiceOne Financial Services Inc. plans to merge with Lapeer-based County Bank Corp. in a deal that would create a bank with a combined $1.28 billion in assets.
MiBiz Growth Report: Dec. 10, 2018
Here is the MiBiz Growth Report for Dec. 10, 2018.
MiBiz Growth Report: Oct. 29, 2018
Here is the MiBiz Growth Report for Oct. 29, 2018.
ChoiceOne posts higher earnings for third quarter
ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank, recorded higher earnings for the third quarter.
Four West Michigan bankers offer perspectives on commercial lending
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.
United Bank to Open Downtown GR Branch
GRAND RAPIDS — United Bank will become the latest entry into the downtown banking market with the planned opening of a new office later this year.
Federal tax reform boosts earnings for West Michigan community banks
A lower federal corporate tax rate contributed to higher earnings for West Michigan community banks that reported quarterly results this week.
Banks, credit unions unite in support of regulatory reform bill
Executives at banks and credit unions across Michigan found common ground in advocating for legislation to ease federal regulations they say hurt smaller financial institutions and their ability to lend.
MiBiz Growth Report: Feb. 19, 2018
Here is the MiBiz Growth Report for Feb. 19, 2018:
• M&A: Great Lakes Scrip Center Inc., a West Michigan-based provider of gift cards for fundraising, was acquired by Minneapolis, Minn.-based Bold Orange, a recently formed marketing firm. Over 23 years, Great Lakes Scrip Center has worked with more than 48,000 organizations to raise $680 million. The company last spring acquired The Manna Group in Palatine, Ill. and was the largest gift card company in the nation. Local operations at Great Lakes Scrip, which employs about 90 people, will continue “business as usual,” said Jill Whalen, vice president for retail operations.
ChoiceOne Bank to open new branch office in Rockford
ChoiceOne Bank plans to open a new branch this fall in Rockford, further expanding its presence in the Kent County market.
Community banks eye growth with stronger Grand Rapids presence
HUDSONVILLE — After assembling a team of veteran commercial lenders, West Michigan Community Bank is putting more focus on growing in the greater Grand Rapids area.
ChoiceOne to open branch in downtown Grand Rapids
ChoiceOne Bank plans to open a branch on the south end of downtown Grand Rapids next year.
Business borrowers undeterred by higher interest rates — so far
Higher interest rates during 2017 haven’t acted as a damper on commercial lending in West Michigan, although some lenders are seeing borrowers moving to fixed-rate business loans.
ChoiceOne president takes ‘wait-and-see’ approach to change in bank regulations
Kelly Potes took over in June as CEO at ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank, adding to his duties as president. During 2016, ChoiceOne Bank opened a lending office in downtown Grand Rapids and may follow up in the future with a full-service branch. The Sparta-based ChoiceOne has 12 offices in rural Kent, Ottawa, Muskegon and Newaygo counties with total assets of $598.6 million as of Sept. 30.
Horizon Bank to open downtown Grand Rapids branch
GRAND RAPIDS — Three years after opening a local lending office, Horizon Bank plans to begin developing a branch network in the Grand Rapids market.
East West Brewing Co. opens in heart of Eastown
The Eastown Business District is poised to get its second brewery.
ChoiceOne Bank reports record earnings
Sparta-based ChoiceOne Financial Services Inc. reported a record net income of $1.6 million, or 52 cents per share, for the third quarter.