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.
Sparta-based ChoiceOne Financial Services Inc. reported a record net income of $1.6 million, or 52 cents per share, for the third quarter.
GRAND RAPIDS — A strong marketplace combined with recent consolidation involving community banks lured Level One Bank from its base in suburban Detroit to the Grand Rapids market.
Moving outside of its Detroit-area market for the first time, Level One Bank plans to enter the Grand Rapids area.
The Sparta-based parent company of ChoiceOne Bank announced this morning that CEO James Bosserd plans to retire.
After operating for years in rural communities to the north, ChoiceOne Bank wants to carve out a position in downtown Grand Rapids.