Commercial bankers say clients’ demand for credit remains strong, although borrowers in West Michigan are carefully watching what’s ahead for the economy.
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.
GRAND RAPIDS — Horizon Bank’s move into the West Michigan market provided an opportunity to launch a private banking service based in Grand Rapids that will eventually extend across the corporation.
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.
Among the commercial and industrial borrowers at Lake Michigan Credit Union, about one-third are expanding or buying new equipment that’s needed to grow their businesses.