Displaying items by tag: Lake Michigan Credit Union
GRAND RAPIDS — The West Michigan Sports Commission took measures to create a safer work environment at its office, which was newly opened in November of last year before the springtime COVID-19 pandemic sent staff home to work remotely.
NEW BUFFALO — The largest credit union in Indiana looks to further expand in the Michigan market after acquiring the parent company of New Buffalo Savings Bank.
Bankers across the region have been focused on working with small business clients to secure loans from the federal Paycheck Protection Program, as well providing payment deferrals and adjusting loans for business borrowers hit hard by the COVID-19 pandemic.
A proposed headquarters project in Cascade Charter Township could become the home for Acrisure LLC, a Caledonia-based insurance brokerage that’s been growing rapidly through an ambitious M&A strategy.
2017 was a busy year for Grand Rapids-based Lake Michigan Credit Union with the opening of new branches and mortgage offices, insurance agency acquisitions, and the pending deal for Encore Bank in Naples, Fla. Michigan’s largest credit union, LMCU has 42 branch locations, three of them in Florida, and total assets of $5.1 billion as of Sept. 30, up more than 9 percent from a year earlier. President and CEO Sandra Jelinski expects more growth in 2018 as the economy remains in good shape.
While inventory remains constrained, the value of commercial real estate transactions continues to gather momentum in West Michigan.
GRAND RAPIDS — As consolidation among independent insurance brokers accelerates across the country, Fifth Third Bancorp Inc. is pushing deeper into the industry through acquisitions.
Here is the MiBiz Growth Report for Oct. 30, 2017:
• M&A: Stryker Corp. acquired a majority interest in French medical device company Vexim SA and plans to make a tender offer to buy out its remaining shareholders. The Kalamazoo-based Stryker (NYSE: SYK) acquired 50.7 percent of shares and 50.3 percent of voting rights to Vexim, based in Balma, near Toulouse, France. Stryker paid 20 euros per share to funds managed by Truffle Capital, Bpifrance and Kreaxi, as well as Vexim managers. Vexim said the acquisition of the majority stake by Stryker has an equity value of 183 million euros, which equates to about $216 million. Vexim specializes in devices for minimally invasive procedures to treat traumatic spinal pathologies.
Lake Michigan Insurance Agency, a division of Grand Rapids-based Lake Michigan Credit Union, has acquired the 110-year-old Muskegon Insurance Agency.