Displaying items by tag: Mercantile Bank Corp
Over the past decade, many small business owners put off expansions or capital equipment purchases for as long as they could.
Mercantile Bank Corp.’s net income dipped in the first quarter, the result of one-time events.
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.
Mercantile Bank Corp. plans to open a commercial loan office in Troy that will eventually grow to a full-service branch.
Mercantile Bank Corp. today reported higher earnings to end 2016, driven by strong loan growth.
Of all the issues Greg Carmichael deals with each day, trust and reputation are the ones that concern him the most.
Mercantile Bank Corp. grew earnings by nearly 7 percent in the third quarter while recording strong loan growth.
GRAND RAPIDS — The recently announced leadership transition at Mercantile Bank Corp. has been in the works for years and should provide continuity going from one CEO to another, executives say.
Citing decisions to restructure leasing and make tenant improvements on their own, the owners of a major Grand Rapids development today asked the state for administrative approval to amend its loan agreement.