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Displaying items tagged: finance

Friday, 03 February 2023 13:07

Acrisure, High Street among top insurance brokerage buyers in North America

Two of the biggest buyers of insurance brokerages in North America — Acrisure LLC and High Street Insurance Partners Inc. — both hail from Michigan.

Published in Finance
Sunday, 29 January 2023 18:00

Mercantile, ChoiceOne expand statewide reach with new loan offices

Both Mercantile Bank and ChoiceOne Bank are expanding their geographic reach by opening loan offices in new markets.

Published in Finance
Thursday, 26 January 2023 20:50

Michigan Capital Network nets $37.5M toward new VC fund

GRAND RAPIDS — Michigan Capital Network netted $37.5 million to date in its drive to raise $50 million for a fourth venture capital fund, a goal that has doubled since fundraising began in early 2022.

Published in Finance

Tuesday, 24 January 2023 09:08

New federal exemption unlocks options for small business M&A

A change in federal law opens new options for owners considering the sale of their small business.

Published in Finance
Sunday, 15 January 2023 17:08

VC investments up 9% for Michigan companies, despite declining deal volume

Venture capital investors put more money into Michigan-based companies last year, even as deal volume declined.

Published in Finance
Friday, 06 January 2023 13:45

LMCU branch workers near Grand Rapids vote to unionize

WYOMING — Workers at Lake Michigan Credit Union’s South Division Avenue branch near Grand Rapids have voted to unionize.

Published in Finance

Tuesday, 27 December 2022 13:13

Michigan Capital Network exec cites signs of resilience in state’s VC, angel investor community

Coming off what Diane Durance calls a “robust” year in 2022, Grand Rapids-based Michigan Capital Network looks to close fundraising in 2023 on a fourth venture capital fund and grow its network of angel investors.

Published in Finance
Tuesday, 27 December 2022 13:07

M&A ‘mixed bag’ expected in 2023 as interest rates, economic headwinds linger

Investment bankers and deal advisers forecast a 2023 M&A market affected, but not necessarily stymied, by rising interest rates and other economic headwinds.

Published in Finance
Thursday, 22 December 2022 11:57

Amerifirst Home Mortgage acquired by Ohio mortgage firm

Union Home Mortgage — a retail, wholesale and consumer-direct mortgage company based in Strongsville, Ohio — has acquired Portage-based Amerifirst Home Mortgage.

Published in Finance

Wednesday, 21 December 2022 18:19

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.

Published in Finance
Tuesday, 20 December 2022 12:06

PE-backed High Street Insurance Partners notches 2 more acquisitions in busy 2022

TRAVERSE CITY — High Street Insurance Partners Inc. moved into the Nevada and California markets with its latest acquisition that also marks a strong dealmaking year for the firm.

Published in Finance
Monday, 19 December 2022 16:17

Amerifirst Home Mortgage to lay off 59 people in early 2023

PORTAGE — Amerifirst Home Mortgage plans layoffs at its Portage office early next year, citing reduced demand for home mortgages resulting from rising interest rates.

Published in Finance

Thursday, 15 December 2022 11:58

AMI Entertainment Network acquired by Los Angeles PE firm

WYOMING — AMI Entertainment Network LLC, a provider of digital jukeboxes and other products for the restaurant and bar industry, has been acquired by a Los Angeles private equity firm.

Published in Finance
Monday, 12 December 2022 14:22

GR branch workers at largest Michigan credit union seek to unionize

GRAND RAPIDS — Staff at Lake Michigan Credit Union’s South Division branch in Grand Rapids are seeking a vote for union representation.

Published in Finance
Sunday, 04 December 2022 17:13

Parent of Grand River Bank forms new mortgage company with national scope

GRANDVILLE — In a move to diversify revenues to support further growth, the parent corporation for Grand River Bank has formed a mortgage company to write home loans across much of the nation.

Published in Finance

Thursday, 01 December 2022 10:15

Specialty vehicle insurer Hagerty to trim workforce by 6% to cut costs

TRAVERSE CITY — Specialty and classic vehicle insurer Hagerty Inc. plans to reduce its workforce by 6 percent to cut costs and improve earnings.

Published in Finance
Wednesday, 30 November 2022 14:57

Michigan Capital Network names directors for GR, Detroit angel investing groups 

Michigan Capital Network has named new leaders for angel investing groups in Grand Rapids and Detroit.

Published in Finance
Sunday, 20 November 2022 19:06

Rende Progress Capital addresses wealth gap, access to capital for minority borrowers

Eric Foster credits a 2015 report from Forbes.com that ranked Grand Rapids as 51st out of 52 markets in the U.S. economically for African Americans for helping to cement his idea to create Rende Progress Capital. 

Published in Finance

Sunday, 20 November 2022 19:04

Michigan CDFIs to form coalition, collaborate on lending solutions, programming

Aforthcoming statewide coalition aims to leverage the effectiveness of Michigan’s community development financial institutions through a collaborative approach to lending and technical assistance.

Published in Finance
Sunday, 20 November 2022 18:58

Commercial lenders begin to see signs of softness in demand for credit as economy weakens

Commercial lenders head toward the end of 2022 in an uncertain economic environment with rising interest rates and predictions for a mild U.S. recession in the second half of next year.

Published in Finance
Sunday, 20 November 2022 18:56

Credit unions evolve to get competitive on commercial lending

When he began leading commercial lending at Lake Michigan Credit Union in 2011, Jim Maskell occasionally found surprise among prospective clients.

Published in Finance

Sunday, 20 November 2022 18:52

Community Choice CU eyes continued expansion in West Michigan market

MUSKEGON — A new branch office under construction in Muskegon will become the fifth location in the lakeshore market for Community Choice Credit Union, which plans to broaden its West Michigan presence in the years ahead.

Published in Finance
Sunday, 20 November 2022 18:48

New fund launches to support BIPOC farmers, increase access to land

Agroup of West Michigan growers is proposing a solution to solve two problems around equity and unentitled land assets that currently affect the state’s agricultural industry. 

Published in Finance
Sunday, 20 November 2022 18:26

West Michigan executive survey: Talent, inflation pose critical hurdles to growth

Talent and labor availability, inflation, and supply chain disruptions are the biggest hurdles to growth for West Michigan executives, while many plan to turn to automation and price increases to mitigate those risks.

Published in Finance

Wednesday, 16 November 2022 16:11

Rehmann to acquire GR financial services firm

Troy-based accounting and advisory firm Rehmann plans to acquire Rivertown Finance LLC in Grand Rapids.

Published in Finance
Wednesday, 16 November 2022 15:46

DeVos-backed Walstrom Marine acquires Northern Michigan boat dealer, marina

TRAVERSE CITY — Walstrom Marine Inc., a Harbor Springs-based yacht sales and service company and marina operator acquired last year by Continuum Ventures LLC in Grand Rapids, acquired Grand Bay Marine in Traverse City.

Published in Finance
Tuesday, 15 November 2022 13:45

TiiCKER marks largest deal yet with movie studio partnership

TiiCKER Inc., a Michigan-based financial technology firm that manages direct-to-shareholder marketing platforms and perks programs for publicly traded companies, has launched a new partnership with a global movie studio.

Published in Finance

Monday, 14 November 2022 16:04

DeVos-backed Michigan Opportunity Fund raises $100M to invest in companies statewide

GRAND RAPIDS — The $100 million private equity fund created to invest in Michigan-based companies has completed its fundraising and now turns its attention to deploying the capital over the next few years.

Published in Finance
Sunday, 06 November 2022 18:52

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.

Published in Finance
Sunday, 06 November 2022 18:50

Acrisure continues buying spree with deal for U.K. insurance broker

GRAND RAPIDS — Acrisure LLC’s latest global acquisition would help solidify the company’s footprint in the United Kingdom.

Published in Finance

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