Displaying items tagged: finance
ChoiceOne’s two recent acquisitions provide lessons on virtual dealmaking
The two acquisitions ChoiceOne Financial Services Inc. closed over a 15-month period tripled the size of the Sparta-based bank holding company.
Amid high volume of deals, Acrisure breaks into artificial intelligence
Greg Williams was looking for a company that could move global insurance brokerage Acrisure LLC into the world of artificial intelligence.
‘Everything kind of fell into place’ with Hannah Lawrence’s Foxbright acquisition
Hannah Lawrence remembered the car ride home after closing on the acquisition of her first business — a moment of brief panic.
Jeff Lambert oversees strong year for acquisitions, startups
As the COVID-19 pandemic was just starting to set in last spring, Jeff Lambert jotted down the words “positively legendary” on a sticky note.
Patience in a pandemic helped guide a busy year for Jeff Ott
As the economy abruptly ground to a halt last spring under COVID-19 restrictions, Jeff Ott stayed busy.
Charter Capital Partners finds niche with middle-market companies
Since launching in July 2019, the Charter Growth Capital Fund has made five investments and raised $31 million to make minority investments in growing, middle-market companies that need growth capital.
Matthew Baas assembles growing number of deals for ‘Main Street’ companies
Max Friar, managing partner at Grand Rapids-based M&A firm Calder Capital LLC, routinely found his company passing on potential clients because of the size of their businesses.
Auxo Investment Partners manages international complexities in 2020 deal
The team at Grand Rapids-based private equity firm Auxo Investment Partners has a saying that every deal has to die once before it closes.
Diversity-focused VC fund garners widespread attention, even before making initial investment
GRAND RAPIDS — The West Michigan venture capital fund that intends to invest in growing, minority-owned businesses has garnered attention from interested parties who want to replicate the model elsewhere in the U.S.
Northpointe Bank records ‘banner year’ in 2020 amid low interest rates
The $91 million Northpointe Bancshares Inc. netted in a private stock placement will help support further growth through mid-decade.
Macatawa Bank reports higher Q4 earnings as it ramps up more PPP lending
HOLLAND — Macatawa Bank Corp. increased earnings in the fourth quarter, although full-year results declined from the prior year.
Mortgages help boost Independent Bank earnings in 2020
Independent Bank Corp. posted strong earnings growth during 2020 based in part on a strong mortgage pipeline and despite pandemic-related challenges.
GR-based VC fund targeting minority-owned companies raises $8.5M in first year
GRAND RAPIDS — The venture capital fund formed a year ago in Grand Rapids to invest in minority-owned businesses has netted $8.5 million in commitments from investors and aims to hit $10 million this year.
Huntington Bank to close 97 in-store branches at Meijer locations as part of TCF acquisition
Huntington Bancshares Inc. intends to close 198 branch offices — about half of which are based in Meijer Inc. stores in Michigan — after completing the proposed $22 billion acquisition of Detroit-based TCF Financial Corp.
Mercantile Bank reports higher quarterly earnings despite pandemic uncertainty
GRAND RAPIDS — Mercantile Bank Corp. ended 2020 with higher quarterly earnings despite the ongoing costs and economic turbulence from the COVID-19 pandemic.
Sturgis Bank raises $15 million to continue Southwest Michigan expansion
The $15 million Sturgis Bancorp Inc. raised through a debt offering will go to support further growth across Southwestern Michigan.
State expects ‘extremely high’ demand for $58.5M in small business COVID-19 relief
The latest state effort to provide financial aid to Michigan small businesses and entertainment venues that are ailing from the COVID-19 pandemic and resulting restrictions has a relatively short application window based on previous demand.
High Street Insurance Partners acquires two agencies
TRAVERSE CITY — Insurance brokerage High Street Insurance Partners Inc. has acquired two more agencies, adding to the firm’s existing market presence in the eastern U.S. and expanding it into the Pacific Northwest.
Century Technology Group leans on tech acquisitions to drive growth
ADA — Century Technology Group LLC looks to reload by pursuing acquisitions of technology companies that it can grow.
Post-pandemic supply chain shifts could boost state’s industrial economy
Michigan’s economy could stand to benefit in the years ahead as manufacturers move to reshore work to the U.S. after dealing with severe disruptions in their foreign supply chains when the coronavirus first surfaced in China.
Experts forecast sustained growth for the U.S. economy in 2021
The U.S. economy that got hammered by the COVID-19 pandemic this spring heads toward 2021 on the rebound, although a surge in cases during the fall and renewal of restrictions in many states may limit economic growth nationally early in the new year.
Wealth managers wish for clarity on federal taxes, stock market sustainability
Wall Street dealt with its share of volatility in 2020, a year with a deep decline at the outset of the pandemic followed by a later rebound. Citing volatility in the stock market over the last few years, some investors have shifted toward safety in managing their money. Susan Vogel-Vanderson, the managing director for Fifth Third Private Bank in West Michigan, hopes the new year brings some certainty to financial markets. A trusts and estates attorney, Vogel-Vanderson also is monitoring what could happen to tax rates in 2021 under the Biden administration, particularly if Democrats take control of the U.S. Senate after the Georgia runoffs.
Pandemic cements move to remote work, automation; more stimulus needed
John Ruther joined the Grand Rapids office of O’Keefe Consulting LLC in July as managing director. The company, based in Bloomfield Hills, offers a range of services including turnaround and restructuring consulting, corporate finance and litigation support. Ruther spoke with MiBiz about his view that some of the business practices that employers adopted in the pandemic — remote work and accelerating the use of automation — will remain in place in 2021 and beyond.
New $200M fund builds on prior success, to include focus on minority-owned businesses
A new $200 million fund to support growing businesses in Michigan intends to direct half of the capital it raises to financing minority-owned companies.
Reporter's Notebook: Getting to know you
Raising capital for a startup company is never easy, though there are steps entrepreneurs with a dream and a vision can take to help their cause.
Grand Angels taps Dale Grogan as managing partner to expand reach across state
GRAND RAPIDS — The new managing partner for Grand Angels looks to tap his statewide contacts to build a bigger presence among early-stage investors.
Lighthouse Group acquisition could spur more Michigan deals for Chicago-area firm
The Chicago-area insurance brokerage firm that acquired Grand Rapids-based Lighthouse Group intends to look for other deals in Michigan.
Grand Angels names Dale Grogan as new managing partner
GRAND RAPIDS — Angel investor group Grand Angels has named Dale Grogan as its new managing partner.
Pandemic-fueled uncertainty cools outlook for bank M&A
Compared to a year ago, fewer bankers expect their institutions to make an acquisition in the next 12 months, as they focus on navigating through the financial fallout of the COVID-19 pandemic.
Comerica economists say Michigan is ‘well positioned’ despite latest COVID-19 restrictions
Even with new COVID-19 restrictions in place for the next three weeks, Michigan sits “well positioned” to eventually recover economically from the COVID-19 pandemic, according to a new Comerica Inc. outlook.