Displaying items by tag: Mercantile Bank Corp
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.
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.
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.
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.
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.
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.
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.
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.