Displaying items by tag: ChoiceOne Bank

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.

SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings for 2021, benefitting from mergers that the bank completed in 2019 and 2020.

Here is the MiBiz Growth Report for January 17, 2022.

The $20 million in capital that West Shore Bank Corp. raised toward the end of 2021 will go to support further commercial loan growth.

SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.

SPARTA — ChoiceOne Financial Services Inc. reported higher second-quarter earnings as the economic recovery from the COVID-19 pandemic continues.

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.

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.

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.

As much of the banking industry went in the opposite direction, Sparta-based ChoiceOne Bank opened branches starting in late 2018.

SPARTA — Higher expenses mostly related to the Oct. 1 merger with County Bank Corp. cut into third quarter earnings for ChoiceOne Financial Services Inc.

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.

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.

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.

Here is the MiBiz Growth Report for Dec. 10, 2018.

Here is the MiBiz Growth Report for Oct. 29, 2018.

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.

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 Bank plans to open a branch on the south end of downtown Grand Rapids next year.

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.

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. 

GRAND RAPIDS — Three years after opening a local lending office, Horizon Bank plans to begin developing a branch network in the Grand Rapids market.

The Eastown Business District is poised to get its second brewery.

Sparta-based ChoiceOne Financial Services Inc. reported a record net income of $1.6 million, or 52 cents per share, for the third quarter.