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Displaying items by tag: Mercantile Bank Corp

Tuesday, 19 April 2022 15:59

Mercantile Q1 earnings decline amid drop in mortgage banking income

GRAND RAPIDS — Mercantile Bank Corp.’s earnings declined in the first quarter from a year earlier as refinancing for home mortgages decreased and reduced fee income.

Published in Finance
Tuesday, 18 January 2022 16:30

Commercial loans propelled strong earnings for Mercantile Bank in 2021

GRAND RAPIDS — Mercantile Bank Corp. recorded strong earnings in 2021 with loan growth that President and CEO Robert Kaminski Jr. called “nothing short of stellar.”

Published in Finance
Sunday, 16 January 2022 18:19

Michigan community banks leverage tens of millions in capital raises

The $20 million in capital that West Shore Bank Corp. raised toward the end of 2021 will go to support further commercial loan growth.

Published in Small Business

Wednesday, 03 November 2021 14:47

Mercantile Bank expands northern Michigan reach with Petoskey lending office

PETOSKEY — Mercantile Bank Corp. has expanded further in the northern Lower Peninsula with the opening of a lending office in Northern Michigan.

Published in Finance
Wednesday, 20 October 2021 09:24

Mercantile Bank records strong Q3 commercial loan growth with new clients

GRAND RAPIDS — Mercantile Bank Corp. recorded strong loan growth in the third quarter with an earnings increase of more than 40 percent from a year earlier.

Published in Finance
Tuesday, 20 July 2021 12:15

Mercantile Bank more than doubles quarterly earnings as lending remains strong

GRAND RAPIDS — Mercantile Bank Corp. more than doubled earnings for the second quarter as growth in commercial and residential mortgage lending remained strong.

Published in Finance

Sunday, 09 May 2021 17:00

Commercial real estate lending remains solid as some sectors outperform others

Bank lending for commercial real estate and development held steady through the first quarter as some sectors experienced high demand and others remained somewhat soft as the COVID-19 pandemic surpassed a year.

Published in Finance
Tuesday, 20 April 2021 10:54

Mercantile Bank reports ‘extremely strong’ start to 2021

GRAND RAPIDS — Strong income from mortgage lending helped to push Mercantile Bank Corp.’s earnings higher for the first quarter.

Published in Finance
Sunday, 28 February 2021 17:00

Huntington, TCF merger could mean opportunities for competitors

While Huntington Bancshares Inc. and TCF Financial Corp. executives say a planned merger between the two companies will create a Midwest banking powerhouse, some experts view it as an opportunity for competitors to gain both business and talent.

Published in Finance

Sunday, 31 January 2021 17:00

SBA simplifies PPP loan forgiveness process

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. 

Published in Small Business
Sunday, 31 January 2021 15:56

Diversity-focused VC fund garners widespread attention, even before making initial investment

GRAND RAPIDS — The West Michigan venture capital fund that intends to invest in growing, minority-owned businesses has garnered attention from interested parties who want to replicate the model elsewhere in the U.S.

Published in Finance
Tuesday, 26 January 2021 13:44

GR-based VC fund targeting minority-owned companies raises $8.5M in first year

GRAND RAPIDS — The venture capital fund formed a year ago in Grand Rapids to invest in minority-owned businesses has netted $8.5 million in commitments from investors and aims to hit $10 million this year.

Published in Finance

Tuesday, 19 January 2021 12:45

Mercantile Bank reports higher quarterly earnings despite pandemic uncertainty

GRAND RAPIDS — Mercantile Bank Corp. ended 2020 with higher quarterly earnings despite the ongoing costs and economic turbulence from the COVID-19 pandemic.

Published in Finance
Sunday, 08 November 2020 18:50

UFCU to take commercial lending to ‘next level’ with Edgewater Bank acquisition

ST. JOSEPH — The proposed acquisition of Edgewater Bancorp Inc. would give United Federal Credit Union greater expertise to further grow commercial lending.

Published in Finance
Sunday, 25 October 2020 10:30

MiBiz Growth Report: October 25, 2020

Here is the MiBiz Growth Report for October 25, 2020.

Published in Economic Development

Monday, 26 October 2020 10:28

Mercantile Bank selling Hastings office amid shift to fewer branches

HASTINGS — Mercantile Bank Corp. plans to sell a Hastings branch office to Lake Trust Credit Union as part of an ongoing initiative to shrink its office footprint.

Published in Finance
Tuesday, 20 October 2020 13:06

Mercantile Bank records lower Q3 earnings amid ‘challenging operating environment’

GRAND RAPIDS — Mercantile Bank Corp. recorded lower third quarter earnings amid what President and CEO Robert Kaminski Jr. called a “challenging operating environment” from the COVID-19 pandemic.

Published in Finance
Wednesday, 30 September 2020 16:45

Grand Rapids venture capital fund secures millions for minority-owned companies

A Grand Rapids-based venture capital fund that will invest nationally in companies owned by minorities has secured commitments now totaling $6.25 million, with potentially millions more on the way.

Published in Finance

Sunday, 16 August 2020 18:10

Consumers CU plans further growth in GR, lakeshore markets

The opening of a new branch in Wyoming and construction of another office in Walker are part of a broader regional growth plan for Consumers Credit Union.

Published in Finance
Sunday, 02 August 2020 17:00

New diversity-focused VC fund seeks $5M locally before making national pitch

GRAND RAPIDS — A new venture capital fund to invest in businesses owned by racial and ethnic minorities looks to secure financial backing locally before reaching out nationally for investors.

Published in Finance
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, 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
Sunday, 26 April 2020 17:46

TRIAL BY FIRE: SBA races to provide relief to small businesses, but some hiccups remain

The sheer volume of small businesses that have sought federal relief loans illustrates the depth and scope of the economic pain brought on by the COVID-19 pandemic.

Published in Small Business

Wednesday, 22 April 2020 08:25

Mercantile Bank in ‘extremely solid’ position to weather economic turbulence

GRAND RAPIDS — Mercantile Bank Corp. reported lower earnings to start 2020 and sits in an “extremely solid” condition for the economic downturn brought on by the COVID-19 pandemic.

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
Tuesday, 21 January 2020 11:31

Mercantile reports earnings, loan growth

GRAND RAPIDS — Mercantile Bank Corp. grew earnings for the fourth quarter and all of 2019.

Published in Finance

Friday, 03 January 2020 17:07

Bank execs could face fewer deal prospects in 2020

Bank M&A may ease in 2020, as fewer executives surveyed by the trade publication Bank Director view the market as favorable for deals.

Published in Finance
Tuesday, 15 October 2019 11:44

Mercantile Bank cites ‘solid’ loan growth through third quarter

GRAND RAPIDS — Mercantile Bank Corp. maintained solid growth and earnings through the third quarter.

Published in Finance
Sunday, 04 August 2019 19:29

Charter Capital targets $100 million for new mezz fund

GRAND RAPIDS — A new mezzanine fund based in Grand Rapids seeks to raise $100 million to invest in growing companies, MiBiz has learned.

Published in Finance

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