Displaying items by tag: finance
Bank of America’s West Michigan operations had a record year in 2018 in terms of the number of new business clients. The year came on top of similar results in 2017, when the bank consolidated local operations into a single office in downtown Grand Rapids, a move that better organized and generated greater collaboration among staff in pursuing new business. Echoing the sentiment of other local executives, Tabben said business clients are working to cope with the region’s tight labor market.
Krista Flynn joined Chemical Bank in July as regional president for West Michigan, leading a market that includes Grand Rapids and Holland. She previously spent seven years in corporate banking at PNC Bank and 15 years at JPMorgan before going to work at Chemical, the largest bank based in Michigan. Chemical Bank, with more than $20.9 billion in total assets, has been building its commercial banking and wealth management staff, and is presently building out a new regional headquarters in downtown Grand Rapids. Parent company Chemical Financial Corp. also plans to develop a new corporate headquarters in downtown Detroit.
Kalamazoo-based Consumers Credit Union surpassed a key milestone when it hit $1 billion in assets back in May 2018. By the end of the third quarter, the 92,000-member credit union had grown assets further to $1.07 billion, and President and CEO Kit Snyder expects assets to close the year at $1.1 billion. The growth during 2018 came as Consumers Credit Union settled into a new headquarters in The Groves Engineering Business Technology Park in Kalamazoo.
GRAND RAPIDS — A new office in suburban Detroit gives Blackford Capital a market presence to scout for deals in the heart of the auto industry and center for American manufacturing.
PARCHMENT — Advia Credit Union would gain a larger market presence in northern Illinois with the proposed acquisition of Golden Eagle Community Bank.
Michigan will maintain job growth through 2019, although at a slower rate than the past several years as employers have fewer people to hire.
GRAND RAPIDS — A lukewarm initial public stock offering by drinkware and cooler-maker Yeti Holdings Inc. spelled a smaller-than-expected payout for a prominent West Michigan family office.
GRAND RAPIDS — Even when it first acquired Dickinson Press LLC more than three years ago, Blackford Capital saw Brainerd, Minn.-based CJK Group Inc. as a potential buyer.
Seven credit unions in Michigan plans to open a new trust bank late in the first quarter of 2019 after receiving approval from state regulators.