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Displaying items by tag: Mercantile Bank Corp

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
Saturday, 07 July 2018 16:26

Initiatives offer loan assistance for urban small businesses

A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores. 

Published in Finance
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


Tuesday, 17 April 2018 15:00

Mercantile Bank sees increased earnings in first quarter

A lower federal tax rate and collecting on problem commercial loans helped boost Mercantile Bank Corp.’s earnings for the first quarter.

Published in Breaking News
Sunday, 15 April 2018 20:31

Banks, credit unions unite in support of regulatory reform bill

Executives at banks and credit unions across Michigan found common ground in advocating for legislation to ease federal regulations they say hurt smaller financial institutions and their ability to lend.

Published in Finance
Tuesday, 16 January 2018 13:19

Mercantile Bank posts lower earnings for 2017 amid ‘solid performance,’ loan growth

Mercantile Bank recorded slightly lower earnings for 2017, although executives say they’re satisfied with the bank’s performance.

Published in Breaking News

Sunday, 07 January 2018 00:38

After a pause in 2017, bank M&A expected to pick up

John Donnelly considers Independent Bank Corp.’s proposed $63.1 million deal to buy Traverse City-based TCSB Bancorp Inc. as indicative of the bank mergers likely to occur in Michigan next year.

Published in Finance
Sunday, 24 December 2017 17:22

2018 Outlook: Robert Kaminski, Mercantile Bank Corp.

The further the U.S. gets from the last downturn, the greater the likelihood that another challenge will eventually “rear its head again,” says Mercantile Bank Corp. President and CEO Robert Kaminski. Yet as 2018 approaches, Kaminski doesn’t see any warnings signs from the Grand Rapids-based bank’s clients that portend a downturn is imminent. Instead, he expects the U.S. economy to stay on track.

Published in Economic Development
Sunday, 24 December 2017 17:10

2018 banking outlook: Easing regulations, preparing clients for future cycles

Many of the forces that affected banks in 2017 — from rising interest rates and a good economy, to balancing digital technology investments with cybersecurity — remain the top issues bankers must manage in the year ahead.

Published in Economic Development

Tuesday, 17 October 2017 11:54

Mercantile Bank reports better than expected third quarter performance

Mercantile Bank Corp. today reported higher quarterly earnings.

Published in Breaking News
Sunday, 03 September 2017 16:37

Developers slow to build new condos in downtown Grand Rapids

GRAND RAPIDS — Citing demand for more diverse housing products, developers cautiously have started exploring whether to market new condominiums for sale in Grand Rapids’ downtown district.

Sunday, 03 September 2017 15:59

Grand Rapids-based PE firm Auxo closes on first two acquisitions

GRAND RAPIDS — Closing on its first acquisitions should provide private equity firm Auxo Investment Partners momentum as it pursues additional deals in an active M&A market.

Published in Breaking News

Sunday, 06 August 2017 15:55

Business borrowers undeterred by higher interest rates — so far

Higher interest rates during 2017 haven’t acted as a damper on commercial lending in West Michigan, although some lenders are seeing borrowers moving to fixed-rate business loans.

Published in Finance
Sunday, 06 August 2017 15:53

Commercial lending volumes rise as borrowers reach capacity

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.

Published in Finance
Tuesday, 18 July 2017 13:02

Mercantile Bank reports strong loan growth for Q2

Mercantile Bank Corp. today reported net income of $7.3 million, or 45 cents per share, for the second quarter with strong loan growth that’s projected to continue through the year.

Published in Breaking News

Sunday, 25 June 2017 20:00

West Michigan bankers hopeful for improving — if not repealing — Dodd-Frank

Bankers in West Michigan and nationwide could get some regulatory relief this year.

Published in Finance
Sunday, 14 May 2017 13:43

Borrowing at last: Small business owners return to banks for financing, even amid emerging economic concerns

Over the past decade, many small business owners put off expansions or capital equipment purchases for as long as they could.

Published in Small Business
Tuesday, 18 April 2017 11:19

Mercantile reports ‘very strong’ start to 2017

Mercantile Bank Corp.’s net income dipped in the first quarter, the result of one-time events.

Published in Breaking News

Sunday, 05 March 2017 20:23

MiBiz Growth Report: March 6, 2017

Here is the MiBiz Growth Report for March 6, 2017:

• M&A: American Grease Stick Co. of Muskegon was acquired last year by 3 Rivers Capital, a Pittsburgh, Pa.-based private equity firm. A manufacturer of branded automotive fluid transfer lines and related products for the automotive aftermarket industry, AGS has operations in Muskegon and the U.K. The company, which was founded in 1931, sells products through a variety of aftermarket retailers, including Advanced Auto Parts, AutoZone and Pep Boys, according to a statement. 3 Rivers purchased the company for $10 million from the Rosen family, according to a report in the Pittsburgh Business Times. The deal was backed by $9.75 million in subordinated debt and an equity co-investment from PNC Mezzanine Capital. JP Morgan Chase also provided debt financing for the transaction. Metz Lewis Brodman Must O’Keefe LLC of Pittsburgh served as legal counsel to 3 Rivers Capital. The sellers worked with investment banker Stout Risius Ross Inc. of Chicago.

Published in Breaking News
Monday, 27 February 2017 11:17

Mercantile Bank plans return to Southeast Michigan market with new office in Troy

Mercantile Bank Corp. plans to open a commercial loan office in Troy that will eventually grow to a full-service branch.

Published in Breaking News
Tuesday, 17 January 2017 10:14

Mercantile Bank reports higher earnings for the fourth quarter of 2016

Mercantile Bank Corp. today reported higher earnings to end 2016, driven by strong loan growth.

Published in Breaking News

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