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.
ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank, recorded higher earnings for the third quarter.
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 — United Bank will become the latest entry into the downtown banking market with the planned opening of a new office later this year.
A lower federal corporate tax rate contributed to higher earnings for West Michigan community banks that reported quarterly results this week.
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.
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 plans to open a new branch this fall in Rockford, further expanding its presence in the Kent County market.