Displaying items by tag: Fifth Third Bank

West Michigan’s commercial office market is in a lull as companies remain hesitant to bring back workers while offering more flexible schedules, leading to worsening vacancy rates and a lack of investment in new construction.

HOLLAND — Fifth Third Bank is looking to sell its historic branch building in downtown Holland.

GRAND RAPIDS TWP. — Relocating its headquarters closer to Grand Rapids will give Union Bank a bigger presence in a market that’s been generating growth for a few years.

Two local community banks are following the industry’s deeper push into digital banking that has accelerated since the onset of the COVID-19 pandemic last year.

Businesses that received a federal Paycheck Protection Program loan and are growing or intend to seek financing for an expansion should apply for loan forgiveness as soon as possible, according to bankers.

Through working with a number of banks and credit unions, Randy Brinks is fully aware of the giant target that the financial services industry has had for years concerning cybersecurity threats.

As clients began reaching out in recent weeks to gather documents and apply for forgiveness of their federal Paycheck Protection Program loans from last year, executives at Level One Bank urged them to wait. 

Michigan small businesses were approved for more than $1.5 billion in federal loans during the first two weeks of the new Paycheck Protection Program the U.S. Small Business Administration launched earlier this month.

Michigan’s economy could stand to benefit in the years ahead as manufacturers move to reshore work to the U.S. after dealing with severe disruptions in their foreign supply chains when the coronavirus first surfaced in China.

The U.S. economy that got hammered by the COVID-19 pandemic this spring heads toward 2021 on the rebound, although a surge in cases during the fall and renewal of restrictions in many states may limit economic growth nationally early in the new year.