Displaying items by tag: Lake Michigan Credit Union
Here's the MiBiz growth report for January 3, 2022.
Here's the MiBiz Growth Report for June 20, 2021.
Lake Michigan Credit Union will gain a larger presence along Florida’s Gulf Coast with the acquisition of a community bank.
Here is the MiBiz Growth Report for June 6, 2021.
COMSTOCK PARK — The West Michigan Whitecaps announced plans for public ticket sales as the organization prepares for the return of minor league baseball for the first time in more than 620 days.
Whitecaps announce new partnership with Lake Michigan Credit Union; home field renamed LMCU Ballpark
COMSTOCK PARK — West Michigan’s largest outdoor entertainment venue is changing names following a new partnership announced today.
Here's the MiBiz Growth Report for December 6, 2020.
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.
Lake Michigan Credit Union plans to grow its Florida presence with a deal to buy a community bank.
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.
Two pending deals where West Michigan-based credit unions are buying small community banks follow an emerging trend nationally.
GRAND RAPIDS — Two acquisitions to start 2017 give Lake Michigan Insurance Agency a wider presence across the state to drive growth and pursue further deals in an era of industry consolidation.
Here is the MiBiz Growth Report for Jan. 23, 2017.
• M&A: Bryan Betten and Chris Baker, two veteran West Michigan dealership executives, have acquired Grand Chrysler Dodge Jeep Ram in Lowell from former owner Harvey Koning. Betten-Baker is in the process of acquiring the remaining Grand Auto Family Services Inc. dealerships owned by Koning, which include facilities in Grandville, Allegan and Lowell, said Pete Ricards, division director at Betten-Baker. The company also is acquiring a Big Rapids-based GMC dealership from Gary Trimarco Automotive group, but is waiting on manufacturer approval from General Motors to complete both deals.
Here is the MiBiz Growth Report for Sept. 19, 2016.
• M&A: Zeeland-based BiaCare Corp., a manufacturer of compression garments and bandages, was acquired by SIGVARIS Group, a Swiss maker of medical compression textiles. BiaCare was founded 12 years ago and employs 22 people in Zeeland, according to a statement. The company developed a range of compression products with velcro wraps to treat lymphedema, lipedema and chronic venous insufficiency. Terms of the deal were not disclosed. SIGVARIS pursued the acquisition as part of its international growth strategy for medically complex compression applications, calling BiaCare “a pioneering leader” in the segment. For BiaCare, the deal “significantly increases our ability to provide physicians and therapists the compression solutions they need,” according to President Keith Hoffman.
Lake Michigan Insurance Agency, a division of Grand Rapids-based Lake Michigan Credit Union, acquired Minor Field Agency in Kalamazoo.
Credit unions across Michigan have enjoyed strong growth in recent years.
Here is the MiBiz Growth Report for April 4, 2016:
• M&A: Cuyahoga Falls, Ohio-based Americhem Group acquired Vi-Chem Corp. of Grand Rapids, according to a statement. Vi-Chem is a supplier of plastic compounds for injection molding, extrusion and blow molding applications. Its customers include companies in the automotive, medical and industrial sectors. Terms of the deal, which closed March 18, were not disclosed. Americhem, a manufacturer of color and additive plastic compounds for the polymer industry, will maintain Vi-Chem’s Grand Rapids operations, where the company employs 85 people.
Lake Michigan Credit Union in Grand Rapids and Kalamazoo-based Consumers Credit Union ranked among the 50 best-performing credit unions in the U.S. for 2015.
Lake Michigan Insurance Agency of Grand Rapids has added to its geographic service area with the acquisition of Traverse City-based Bonner Insurance Agency Inc.