Displaying items by tag: finance

GRAND RAPIDS TOWNSHIP — Grand River Bank plans to open a new office on the east side of Grand Rapids by the middle of next year.

The legalization of cannabis in Michigan offers an emerging economic sector for banks and credit unions, but only if Congress enacts legislation to change existing federal law and allow them into the market.

GRAND RAPIDS — Brandon Kanitz walks through a cavernous area of a former auto-parts manufacturing plant, pointing out areas that in the months ahead will become growing rooms for marijuana plants.

Kalamazoo area-based Consumers Credit Union recently began construction on a new branch on 54th Street SW in Wyoming, its sixth office in the Grand Rapids area.

ALLEGAN — Perrigo Co. plc reaffirmed its 2019 earnings guidance and reported a slight decline in net sales resulting from unfavorable currency translations and exited businesses.

TRAVERSE CITY — Markel Corp., the Richmond, Va.-based holding company for various insurance, reinsurance, and investment operations, has acquired a minority stake in The Hagerty Group LLC, a Traverse City-based insurer of classic cars and high-end automobiles.

GRAND RAPIDS — A new mezzanine fund based in Grand Rapids seeks to raise $100 million to invest in growing companies, MiBiz has learned.

As one bank merger affecting the West Michigan marketplace focuses on integration, another much smaller deal heads toward shareholder votes next month.

GRAND RAPIDS — After closing on fundraising for one real estate investment fund for bridge loans, Red Oak Capital Group has begun preparing for another.

KALAMAZOO — Stryker Corp. raised its sales and earnings guidance for 2019 after what President and CEO Kevin Lobo called a “robust” second quarter.