Displaying items tagged: PNC Bank
West Mich. industrial activity ended 2022 on downward trend, survey finds
West Michigan’s industrial economy ended 2022 in a downward trend.
CHANGE AT THE TOP: Huntington Bank now leads Grand Rapids MSA for share of deposits
For the next year, Huntington Bank can claim bragging rights in the Grand Rapids market after edging into the leading position for deposit market share that Fifth Third Bank has held for decades.
Davis brings deep West Mich. background to new Huntington Bank role
The new West Michigan regional president for Huntington Bank moved into the job with nearly three decades of experience in the market.
Industrial, multifamily residential remain ‘darlings’ for commercial real estate lending
Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments.
Video Q&A: West Mich. banking veteran discusses lending environment amid economic volatility
Krista Flynn, who started this week in a new role as Midwest regional executive for commercial banking at PNC Bank, discusses the current lending environment in what she describes as relatively volatile economic conditions.
Flynn named Midwest regional executive of commercial banks for PNC
PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest.
Economists expect Fed to soon begin raising interest rates
Economists at PNC Bank and Comerica Inc. both expect the Federal Open Market Committee to begin raising interest rates next week.
Finance experts prepare for likely interest rate increase in 2022
Borrowing could cost a little more in 2022 should the Federal Reserve follow expectations and begin raising interest rates.
Two community banks embrace digitization trend with new products, investments
Two local community banks are following the industry’s deeper push into digital banking that has accelerated since the onset of the COVID-19 pandemic last year.
Survey: West Mich. industrial economy facing ongoing supply chain challenges
The expansion of West Michigan’s industrial economy moderated in June as some companies report ongoing supply chain issues, according to a monthly survey.
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.
Retailers share optimistic outlook as holiday shopping season approaches
Michigan retailers are approaching the holiday shopping season with optimism and expectations for higher online sales, despite reporting lower sales for last month and new state restrictions from the COVID-19 pandemic.
Kentwood trucking company DIS Transportation files for Chapter 11 bankruptcy; attorney sees surge in filings ahead
Plummeting freight rates paired with the economic slowdown that accompanied the COVID-19 pandemic took its toll on trucking company DIS Transportation LLC, leading the Kentwood-based business to file for Chapter 11 bankruptcy.
Michigan executives show more optimistic outlook in months ahead amid virus uncertainty
Chief executives expect the state and U.S. economies to stabilize or perform better in the months ahead and continue to rebound from sharp pandemic-related declines in the spring.
Survey: Most small businesses expect further sales declines in months ahead
More than seven in 10 small businesses in Michigan expect further sales declines from the COVID-19 pandemic in the months ahead, according to new survey results from the Small Business Association of Michigan.
Economists predict gradual economic recovery, though slower for some sectors
Economic conditions for Michigan and across the U.S. should keep improving through 2020 and into 2021, according to recent outlooks.
The Right Place leader Birgit Klohs to retire after 33 years
Birgit Klohs, the dean of economic developers in West Michigan and across the state, plans to retire after more than three decades of leading The Right Place Inc.
West Michigan industrial economy returns to ‘positive territory,’ economist reports
West Michigan’s industrial economy further improved in July as three of four key activity indexes moved back to positive territory after sharp declines this spring from the economic fallout of the COVID-19 pandemic.
Survey: After slowdown, M&A activity expected to rebound over the next year
The M&A market that slowed in the first half of 2020 with the onset of the COVID-19 pandemic should rebound well over the next 12 months as deals that got put on hold go forward, according to a midyear survey by law firm Dykema Gossett PLLC.
After 2020 cancellation, future of ArtPrize remains unclear
After canceling this year’s ArtPrize because of concerns over COVID-19, organizers of Grand Rapids’ flagship arts event and the largest art competition in the world have avoided questions about whether it will return.
Commercial lenders discuss effects of pandemic on West Michigan businesses, banking industry
Bankers across the region have been focused on working with small business clients to secure loans from the federal Paycheck Protection Program, as well providing payment deferrals and adjusting loans for business borrowers hit hard by the COVID-19 pandemic.
GVSU economist: Coronavirus-caused recession will be bigger than 2008-09
The COVID-19 pandemic will take a fast bite of more than $3 billion out of West Michigan’s economic output, driving the region into recession along with the rest of the country.
University of Michigan economists see second quarter recession
University of Michigan economists expect the coronavirus and COVID-19 pandemic to drive the U.S. economy into recession for the second quarter.
Comerica: Fed rate cut could help, but not change economic impact from coronavirus
Today’s emergency interest rate cut could aid a slowing U.S. economy facing a significant threat from the coronavirus outbreak, according to Comerica Inc. economists.
Fears over prolonged coronavirus outbreak cool national economic outlooks
The U.S. economy maintained moderate growth to start 2020, although the coronavirus crisis in China could cause problems.
MiBiz Growth Report: Feb. 2, 2020
This is the growth report for Feb. 2, 2020.
Peterson Farms invests $22 million in expansion
SHELBY — Family-owned fruit processor Peterson Farms Inc. is expanding its operations in Oceana County, north of Muskegon.
Community Shores deal ‘makes a lot of sense’ for ChoiceOne
SPARTA — ChoiceOne Financial Services Inc. wasn’t actively looking to do another deal, but the parent company of ChoiceOne Bank saw an opportunity with Community Shores Bank Corp. that was too good to pass up.
Surveys point to economic optimism despite cooling growth forecasts for Michigan
Business owners surveyed by PNC Bank remain optimistic about the local and national economies, despite worries about tariffs and pricing pressures and outlooks for slower growth ahead.
Reports: Michigan business owners remain optimistic
Optimism about the economy remained high going into the third quarter among Michigan businesses surveyed by PNC Bank.