Displaying items tagged: banking
Michigan bankers, investors plot path forward following demise of Silicon Valley Bank
Even as financial stocks tumbled, Michigan bankers and venture capitalists said they’re operating “business as usual” on Monday, the first business day since the collapse of Silicon Valley Bank.
Cannabis banking exec expects Michigan prices to continue falling, more M&A in 2023
Prices in Michigan’s cannabis industry plummeted in 2022, leading to some closures and layoffs, and could fall even further in 2023 as more players enter the business.
Lake Michigan Credit Union to unify brand under ‘LMCU’ amid growth in Michigan, Florida
GRAND RAPIDS — Lake Michigan Credit Union has launched a rebranding to create a common brand identity in Michigan and Florida using just its initials.
Advia Credit Union names Fielder as next CEO under transition plan
KALAMAZOO — Advia Credit Union has named longtime Chief Financial Officer Jeff Fielder as its next president and CEO.
Banking executives see strong commercial lending environment at midyear
Business lending remained strong through midyear despite rising interest rates and economic uncertainty that’s generating worries about a potential recession, according to regional banking executives.
Sylvester takes over Consumers Credit Union after longtime CEO retires
KALAMAZOO — A new chief executive officer took over this month at Kalamazoo-based Consumers Credit Union.
Huntington Bank names new West Michigan regional president
Huntington Bancshares Inc. has named a veteran banking executive and longtime West Michigan resident to lead its regional division.
Incoming Fifth Third Bank CEO sees ‘excellent tailwinds’ in West Mich. market amid economic disruptions
Tim Spence takes the helm July 5 at Fifth Third Bancorp Inc., succeeding Greg Carmichael, who’s retiring as CEO and becomes executive chairman.
MSU Federal Credit Union plans second Grand Rapids-area branch
MSU Federal Credit Union plans to add a second office in the Grand Rapids market.
Federal agencies propose ‘long overdue’ changes to equitable lending rules as banking moves virtual
A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices.
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.
Huntington Bank CEO ‘very bullish’ on regional economy as company integrates TCF
Huntington Bancshares Inc.’s acquisition last year of Detroit-based TCF Financial Corp. created the second-largest bank operating in Michigan for deposit market share and with more branch offices than any other bank. The Columbus, Ohio-based Huntington, which also now ranks among the 20 largest banks in the U.S., has since worked to integrate TCF.
Independent Bank Q1 earnings dip with slower mortgage activity
GRAND RAPIDS — Independent Bank Corp. has recorded lower earnings so far this year as mortgage originations and refinancings slowed.
Mercantile Q1 earnings decline amid drop in mortgage banking income
GRAND RAPIDS — Mercantile Bank Corp.’s earnings declined in the first quarter from a year earlier as refinancing for home mortgages decreased and reduced fee income.
Traverse City-based credit union plans West Michigan expansion in former TCF branches
A Traverse City-based credit union plans to enter the West Michigan market with the planned opening of three branches in Holland, Zeeland and Muskegon, along with several more in the years ahead.
Despite Q4 earnings decline, Independent Bank carries momentum in 2022 with commercial lending
GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the final three months of 2021 but grew overall for the year.
Macatawa Bank reports lower Q4 earnings as PPP loan forgiveness dips
HOLLAND — Macatawa Bank Corp. recorded lower fourth quarter earnings that partly resulted from reduced fee income as fewer federal Paycheck Protection Program loans were forgiven.
ChoiceOne earnings bolstered by prior mergers; bank positioned for growth following capital raise
SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings for 2021, benefitting from mergers that the bank completed in 2019 and 2020.
Commercial loans propelled strong earnings for Mercantile Bank in 2021
GRAND RAPIDS — Mercantile Bank Corp. recorded strong earnings in 2021 with loan growth that President and CEO Robert Kaminski Jr. called “nothing short of stellar.”
Consumers Credit Union CEO retiring after 38 years; COO to take leadership role
KALAMAZOO — The chief executive officer at Consumers Credit Union plans to retire in mid-2022 after 38 years.
Whitmer joins bipartisan call to pass federal cannabis banking regulations
Gov. Gretchen Whitmer has joined 20 other governors in urging Congress to enact legislation that would enable more banks and credit unions to serve the growing cannabis industry.
Mercantile Bank expands northern Michigan reach with Petoskey lending office
PETOSKEY — Mercantile Bank Corp. has expanded further in the northern Lower Peninsula with the opening of a lending office in Northern Michigan.
Macatawa Bank earnings increase slightly amid deposit, commercial loan growth
HOLLAND TWP. — Macatawa Bank Corp.’s third-quarter earnings grew slightly from a year earlier amid strong deposit growth.
ChoiceOne Bank reports strong Q3 earnings as core deposit base grows
SPARTA — ChoiceOne Financial Services Inc. reported strong earnings growth over the third quarter from a year earlier that included merger-related expenses.
Independent Bank reports drop in quarterly earnings, though strong commercial lending pipeline remains
GRAND RAPIDS — Independent Bank Corp. recorded lower third-quarter earnings from a year earlier, though year-to-date profits have grown by more than 28 percent.
Mercantile Bank records strong Q3 commercial loan growth with new clients
GRAND RAPIDS — Mercantile Bank Corp. recorded strong loan growth in the third quarter with an earnings increase of more than 40 percent from a year earlier.
ChoiceOne Bank raises $32.5 million to support growth plans, shareholder value
SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.
Union Bank planning new headquarters in Grand Rapids Township
Union Bank plans to move its corporate office to a new facility now under construction in Grand Rapids Township.
Independent Bank earnings dip in latest quarter
GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the second quarter from the prior year, largely because of lower non-interest income and higher non-interest expenses.