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Displaying items tagged: finance

Tuesday, 10 November 2020 11:51

Holland medical device developer raises more than $21M in capital round

HOLLAND — Raising nearly $21.6 million gives Shoulder Innovations Inc. the capital needed to scale up operations and bring new products to market.

Published in Health Care
Sunday, 08 November 2020 18:50

UFCU to take commercial lending to ‘next level’ with Edgewater Bank acquisition

ST. JOSEPH — The proposed acquisition of Edgewater Bancorp Inc. would give United Federal Credit Union greater expertise to further grow commercial lending.

Published in Finance
Thursday, 05 November 2020 16:56

Wolverine World Wide reports strong e-commerce despite revenue decline

ROCKFORD — Wolverine World Wide Inc. reported a strong performance from its e-commerce business in a third quarter earnings report Thursday, though quarterly and year-to-date revenue are down compared to last year.

Published in Finance

Tuesday, 03 November 2020 10:00

Mercantile Bank expands outside of Michigan with Cincinnati mortgage lending office

Mercantile Bank’s move into Ohio with the opening of a Cincinnati mortgage lending office will allow the Grand Rapids-based bank to “put a flag down there,” bank officials say.

Published in Finance
Wednesday, 28 October 2020 16:42

ChoiceOne Q3 earnings growth reflects recent acquisitions

ChoiceOne Financial Service Inc. has reported significantly higher quarterly earnings following the completion of two acquisitions in the last year.

Published in Finance
Wednesday, 28 October 2020 11:07

M&A outlook shows ‘surprising level of optimism’ for 2021

M&A deal flow that was dampened during the pandemic could soar in 2021, according to an annual outlook of executives and M&A professionals.

Published in Finance

Tuesday, 27 October 2020 12:46

Independent Bank reports Q3 earnings growth

Independent Bank Corp. grew earnings in the third quarter against the “many challenges” of the COVID-19 pandemic.

Published in Finance
Tuesday, 27 October 2020 11:52

United Federal Credit Union to acquire Edgewater Bank in ‘collaboration’ deal

ST. JOSEPH — United Federal Credit Union would broaden its footprint in Southwest Michigan with the planned acquisition of Edgewater Bancorp Inc.

Published in Finance
Monday, 26 October 2020 10:28

Mercantile Bank selling Hastings office amid shift to fewer branches

HASTINGS — Mercantile Bank Corp. plans to sell a Hastings branch office to Lake Trust Credit Union as part of an ongoing initiative to shrink its office footprint.

Published in Finance

Sunday, 25 October 2020 18:00

New Chapter 11 laws offer small businesses a timely, cost-effective lifeline

For more than 45 years, Purple East has been a stalwart alternative lifestyle retailer in Grand Rapids, gaining a reputation for selling an assortment of clothing, glass pipes and smoking accessories.

Published in Finance
Sunday, 25 October 2020 17:48

M&A deals for distressed companies expected to pick up in months ahead

The COVID-19 pandemic that slammed the economy this spring could generate more M&A deals in the months ahead.

Published in Finance
Friday, 23 October 2020 10:06

Macatawa Bank reports lower Q3 earnings yet ‘solid profitability’

HOLLAND — Costs from the COVID-19 pandemic lowered Macatawa Bank Corp.’s most recent quarterly earnings.

Published in Finance

Thursday, 22 October 2020 16:40

Kent County small business relief program offering another $3.5M in assistance

Kent County has added $3.5 million to a grant program providing financial assistance to small businesses ailing from the financial fallout of the COVID-19 pandemic.

Published in Finance
Wednesday, 21 October 2020 17:59

Business, community leaders reflect on ‘giant in our community’ Peter Secchia

Business and community leaders on Wednesday remembered Peter Secchia as a business leader and generous philanthropist who helped to shape West Michigan over the past several decades.

Published in Finance
Tuesday, 20 October 2020 13:06

Mercantile Bank records lower Q3 earnings amid ‘challenging operating environment’

GRAND RAPIDS — Mercantile Bank Corp. recorded lower third quarter earnings amid what President and CEO Robert Kaminski Jr. called a “challenging operating environment” from the COVID-19 pandemic.

Published in Finance

Thursday, 15 October 2020 12:40

Employee group takes majority ownership of Grand Rapids investment advisory firm

GRAND RAPIDS — An employee group has taken a majority ownership position in investment advisory firm Red Cedar Investment Management.

Published in Finance
Sunday, 11 October 2020 17:00

West Michigan investors join growing interest in craft distillery market

The 18 Michigan investors who invested in a Florida craft rum distiller are backing a fast-growing industry that offers plenty of opportunity.

Published in Finance
Sunday, 11 October 2020 16:38

State-backed seed capital fund hits the ground running

A new capital fund seeded with state money got off to a quick start and has made investments in a half dozen young technology companies since launching two months ago.

Published in Finance

Friday, 02 October 2020 06:00

Grand Angels president stepping down for Wisconsin community foundation job

GRAND RAPIDS — Grand Angels President Tim Parker has stepped down to run a community foundation in Wisconsin.

Published in Finance
Wednesday, 30 September 2020 16:45

Grand Rapids venture capital fund secures millions for minority-owned companies

A Grand Rapids-based venture capital fund that will invest nationally in companies owned by minorities has secured commitments now totaling $6.25 million, with potentially millions more on the way.

Published in Finance
Sunday, 27 September 2020 19:00

Racial equity loan fund receives $500,000 for ‘excluded entrepreneurs’

Meijer Inc. recently invested $500,000 in Rende Progress Capital, a racial equity loan fund in Grand Rapids.

Published in Finance

Sunday, 27 September 2020 18:15

Pandemic disruption creates new opportunities for angel investors

After taking a step back in the early months of the COVID-19 pandemic, angel investors say they are actively seeking deals, particularly in startups that are able to take advantage of the resulting economic disruptions.

Published in Finance
Sunday, 27 September 2020 17:22

Despite recent progress, diversity gap remains in venture capital

Just 13 of the 80 venture capital professionals working in Michigan in 2019 were racial minorities. An equal number of all VC professionals in the state, or 16 percent, were women.

Published in Finance
Sunday, 13 September 2020 18:20

Investors welcome new SEC accreditation rule — whether it expands capital remains unclear

Securities regulators hope a change in the federal definition of accredited investors brings more people into the investor pool for startups and other companies seeking private capital, although it remains unclear whether it will significantly affect the flow of capital.

Published in Finance

Wednesday, 02 September 2020 15:20

Huntington announces $5 billion lending and investment plan in Michigan

Huntington Bancshares Inc. has pledged to lend and invest $5 billion in Michigan over five years to support financial opportunities for businesses, consumers and community organizations.

Published in Finance
Wednesday, 02 September 2020 09:34

First National Bank of Michigan to open Lansing branch

KALAMAZOO — First National Bank of Michigan plans to open a new branch office in Lansing.

Published in Finance
Sunday, 30 August 2020 17:54

Pandemic slows insurance M&A activity, though deals still flowing

Since forming two years ago, High Street Insurance Partners Inc. grew steadily through acquisitions.

Published in Finance

Friday, 28 August 2020 12:25

New $50 million VC fund aims to keep businesses local for next generation

KALAMAZOO — A new $50 million venture capital fund that organizers launched in Kalamazoo seeks to offer opportunity to a new generation of business executives while keeping established businesses local.

Published in Finance
Sunday, 30 August 2020 16:45

Fifth Third CEO on pandemic driving digital banking: ‘It’s going to stick’

The COVID-19 pandemic that shut down much of the economy in March had all businesses scrambling to maintain operations — if they were allowed to stay open — and keep employees safe. Banks closed their branch lobbies and directed customers to use drive-thru lanes or digital banking to handle transactions. 

Published in Finance
Monday, 17 August 2020 15:11

Comerica outlook shows nearly 41% GDP decline in Michigan for Q2

Michigan’s economy fell further than the nation as a whole in the second quarter and could take three years to return to the peak of late 2019, according to a new economic outlook from Comerica Inc.

Published in Finance

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