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Displaying items tagged: Independent Bank

Tuesday, 26 October 2021 13:43

Independent Bank reports drop in quarterly earnings, though strong commercial lending pipeline remains

GRAND RAPIDS — Independent Bank Corp. recorded lower third-quarter earnings from a year earlier, though year-to-date profits have grown by more than 28 percent.

Published in Finance
Sunday, 10 October 2021 17:30

New customers, federal relief programs drive growth in bank deposits

Some of the smallest banks in Michigan’s market recorded the biggest growth rates in deposits during a recent 12-month period of the COVID-19 pandemic.

Published in Finance
Sunday, 15 August 2021 17:35

Two community banks embrace digitization trend with new products, investments

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.

Published in Finance

Thursday, 28 January 2021 14:21

Michigan small businesses approved for more than $1.5B in loans under new PPP round

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.

Published in Small Business
Monday, 31 August 2020 11:22

MiBiz Growth Report: August 31, 2020

Here is the MiBiz growth report for August 31, 2020.

Published in Economic Development
Sunday, 02 August 2020 16:20

Bracing for more economic fallout, West Michigan banks boost loan-loss reserves

Given how hard the economy fell in the second quarter, earnings for West Michigan-based banks held up relatively well, although they were primarily lower than a year earlier as banks set aside more in reserve to cover potential future loan losses.

Published in Finance

Tuesday, 28 July 2020 11:24

Independent Bank reports higher Q2 earnings, larger reserve for loan losses

Independent Bank Corp. has reported higher second quarter earnings with a larger reserve to cover loan losses.

Published in Finance
Tuesday, 21 July 2020 12:16

Mercantile Bank beefs up loan-loss reserves to brace for weaker economy

GRAND RAPIDS — Mercantile Bank Corp. reported lower earnings for the second quarter, partly from increasing loan-loss reserves in light of “weakened economic conditions” resulting from the COVID-19 pandemic.

Published in Finance
Sunday, 07 June 2020 17:45

Restrictions in Fed’s Main Street Lending Program could limit appeal

The Federal Reserve Bank’s $600 billion Main Street Lending Program promises to offer small and mid-sized businesses hurt financially by the COVID-19 pandemic with another option to access credit and operating capital. 

Published in Finance

Thursday, 28 May 2020 16:22

Independent Bank raises $40 million through debt offering

GRAND RAPIDS — Independent Bank Corp. raised $40 million in a debt offering that comes amid the economic downturn and uncertainty from the COVID-19 pandemic.

Published in Finance
Thursday, 30 April 2020 17:58

Independent Bank to close 8 branch offices this year, increases loan-loss provisions

GRAND RAPIDS — Independent Bank Corp. plans to close eight branch offices later this year as consumers increasingly use online and mobile banking, but could open new locations elsewhere in the state.

Published in Finance
Sunday, 29 March 2020 17:15

Banks leverage new flexibility to help businesses get through pandemic

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.

Published in Finance

Wednesday, 18 March 2020 10:14

Some West Michigan banks close lobbies in response to COVID-19

Two locally-based banks — Mercantile Bank and West Michigan Community Bank — plan to close the lobbies of bank branches to customers starting Wednesday.

Published in Finance
Friday, 28 February 2020 12:37

Goodrich Quality Theaters files for Chapter 11 bankruptcy

GRAND RAPIDS — Goodrich Quality Theaters Inc., a Grand Rapids-based chain of 30 movie theaters in five states, has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of Michigan.

Published in Economic Development
Friday, 24 January 2020 12:03

Independent Bank mortgage loans top $1 billion

GRAND RAPIDS — Independent Bank Corp. ended 2019 with a nearly 40-percent growth rate in quarterly earnings.

Published in Finance

Tuesday, 23 April 2019 09:54

Independent Bank reports higher earnings to start 2019

Independent Bank Corp. got off to what President and CEO Brad Kessel called a “solid start” in 2019 with slightly higher earnings.

Published in Finance
Thursday, 31 January 2019 13:56

Independent Bank reports higher earnings for fourth quarter

Independent Bank Corp. this week reported net income of $9.9 million, or 41 cents per diluted share, for the fourth quarter of 2018. 

Published in Finance
Friday, 26 October 2018 11:16

Independent Bank posts strong earnings as commercial loan activity ramps up

The spring acquisition of TCSB Bancorp Inc. in Traverse City, combined with strong loan growth, drove earnings higher for Independent Bank Corp. in the third quarter.

Published in Finance

Thursday, 26 July 2018 12:27

Growth from acquisition, loan activity pushes up Independent Bank earnings

Strong loan growth, the recent acquisition of Traverse City State Bank, and a lower tax rate drove Independent Bank Corp.’s earnings significantly higher in the second quarter.

Published in Breaking News
Saturday, 07 July 2018 12:23

Cautious and appropriate: Businesses slow to take on debt, even as optimism grows, bankers say

Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.

Published in Finance
Friday, 27 April 2018 11:21

Federal tax reform boosts earnings for West Michigan community banks

A lower federal corporate tax rate contributed to higher earnings for West Michigan community banks that reported quarterly results this week.

Published in Breaking News

Tuesday, 05 December 2017 08:50

Independent Bank to acquire Traverse City State Bank

Independent Bank Corp. would extend its presence in northwestern Lower Peninsula with the proposed acquisition of TCSB Bancorp Inc. in Traverse City.

Published in Breaking News
Thursday, 26 October 2017 16:01

Loan growth buoys earnings for Independent Bank

Strong loan growth drove Independent Bank Corp. to higher earnings for the third quarter.

Published in Breaking News
Sunday, 15 October 2017 22:22

Ott advised Chemical Financial on blockbuster deal for Talmer

In his 28 years in practice, attorney Jeff Ott has worked on almost 70 transactions, nearly a dozen of which involved Chemical Financial Corp.’s acquisitions of other banks.

Published in M&A Award Profiles

Sunday, 16 April 2017 12:50

Credit unions continue growth streak in Michigan

GRAND RAPIDS — Michigan State University Federal Credit Union’s plan for a downtown office brings another player into the market as Michigan credit unions enjoy a period of strong growth.

Published in Finance
Monday, 03 April 2017 10:44

MSU Federal Credit Union plans downtown Grand Rapids branch

The board of directors for MSU Federal Credit Union (MSUFCU) today announced its plans to open a branch in downtown Grand Rapids later this year.

Published in Breaking News
Sunday, 26 June 2016 12:09

Post-Brexit, West Michigan public company stocks take a beating

Stock prices of West Michigan’s publicly traded companies tumbled on Friday as Wall Street succumbed to the uncertainty caused by the U.K.’s decision to exit the European Union.

Published in Breaking News