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Displaying items by tag: Mercantile Bank Corp

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
Sunday, 04 August 2019 17:37

Chemical Bank merger closes, ChoiceOne deal awaits shareholder votes

As one bank merger affecting the West Michigan marketplace focuses on integration, another much smaller deal heads toward shareholder votes next month.

Published in Finance

Tuesday, 16 July 2019 11:29

Buoyed by strong second quarter, Mercantile Bank expects solid second half of 2019

GRAND RAPIDS — Mercantile Bank Corp. today reported strong results for the second quarter, setting up the second half of 2019 for continued growth.

Published in Finance
Tuesday, 16 April 2019 15:58

Mercantile Bank continues streak of growth in earnings, loans

Mercantile Bank Corp. began 2019 with higher earnings and strong loan growth that it expects to continue through the year.

Published in Finance
Sunday, 17 February 2019 17:56

Growing Mercantile Bank expands Grand Rapids HQ

GRAND RAPIDS — Steady growth led Mercantile Bank Corp. to proceed with an addition at its corporate headquarters. Rising on the south side of the headquarters building at Leonard Street and U.S. 131 in Grand Rapids, the three-story, 25,000-square-foot addition will enable Mercantile Bank to bring together commercial banking teams and support staff — lenders, treasury and credit analysts — at one location.

Published in Finance

Wednesday, 23 January 2019 10:36

Mercantile Bank posts strong earnings and loan growth for fourth quarter

Mercantile Bank Corp. recorded strong earnings and loan growth to end 2018, a trend executives expect should continue into 2019.

Published in Finance
Sunday, 28 October 2018 15:26

State extends funding to pair of capital funds

The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.

The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.

Published in Small Business
Tuesday, 16 October 2018 12:31

Mercantile Bank earnings soar 20 percent in third quarter

Mercantile Bank Corp. grew third quarter earnings by more than 20 percent compared to a year ago.

Published in Finance

Friday, 12 October 2018 18:57

PE firm Auxo acquires SE Michigan stamping manufacturer

Private equity firm Auxo Investment Partners has completed its fifth acquisition in 13 months with a deal for a Warren-based stamping manufacturer.

Published in Manufacturing
Tuesday, 07 August 2018 10:49

Grand Rapids-based Auxo Investment Partners acquires Williamston-based die manufacturer

GRAND RAPIDS — Manufacturer Midway Rotary Die Solutions has sold to a West Michigan-based private equity firm.

Published in Breaking News
Tuesday, 17 July 2018 09:32

Mercantile reports higher second quarter earnings, aided by lower federal tax rate

Mercantile Bank Corp. today reported higher earnings for the second quarter and first half of 2018.

Published in Breaking News

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