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Displaying items tagged: finance

Saturday, 29 February 2020 18:50

Grand Rapids an outlier in bank branch openings

As much of the banking industry went in the opposite direction, Sparta-based ChoiceOne Bank opened branches starting in late 2018.

Published in Finance
Friday, 28 February 2020 04:42

Backed by $5 million investment, UV Angel advances new technology

GRAND HAVEN — A $5 million private equity investment supports UV Angel’s move toward the marketplace with a new product that cleans the air in hospitals and other facilities.

Published in Finance
Friday, 21 February 2020 05:00

Charter Capital advises UP bank in $42 million acquisition

GRAND RAPIDS — Charter Capital Partners represented Hancock-based Keweenaw Financial Corp., the parent company of Superior National Bank & Trust, in the $42 million acquisition of North Star Financial Holdings Inc.

Published in Finance

Sunday, 09 February 2020 19:15

Red Oak Capital plans fourth $50 million bridge loan fund

GRAND RAPIDS — Red Oak Capital Group LLC has formed another fund that seeks to raise $50 million through a public bond offering to make commercial real estate bridge loans.

Published in Finance
Friday, 07 February 2020 05:00

Survey indicates soft industrial economy continues in West Michigan

A monthly survey shows West Michigan’s manufacturing sector remained slow in January, although a couple of key indexes improved slightly from the prior month.

Published in Finance
Wednesday, 05 February 2020 09:23

ChoiceOne shares moving to Nasdaq exchange

SPARTA — Shares of ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank and Lakestone Bank & Trust, will begin trading Friday on The Nasdaq Capital Market under its present symbol “COFS.”

Published in Finance

Sunday, 02 February 2020 16:50

New Community Transformation Fund could serve as a national model for inclusion

Kwame Anku believes the New Community Transformation Fund forming in Grand Rapids could become a national model for driving greater economic inclusion in venture capital.

Published in Finance
Sunday, 02 February 2020 16:40

Backers hope new VC fund spurs more inclusive West Michigan economy

GRAND RAPIDS — The Right Place Inc.’s new venture capital fund plans to target investments toward an area of the economy where capital historically has flowed the least: startups and businesses owned by racial and ethnic minorities.

Published in Finance
Sunday, 02 February 2020 16:30

Grand Angels raises $11.7 million for third VC fund

GRAND RAPIDS — After completing fundraising at the end of 2019, Grand Angels has a couple of new deals in the works for its latest venture capital fund.

Published in Finance

Sunday, 02 February 2020 16:25

SEC considers modernizing accredited investor definition

If federal regulators want to increase the flow of capital to startups across the U.S., Tim Parker suggests they consider creating a new class of investor.

Published in Finance
Sunday, 02 February 2020 16:00

Q&A: David Brophy Director, Center for Venture Capital and Private Equity Finance at University of Michigan

Michigan’s venture capital industry made further progress in 2019 as investors put a record $771.6 million into 115 deals with state-based companies, according to Pitchbook and the National Venture Capital Association. Despite the industry’s growth, David Brophy says a lot more needs to happen to further build venture capital in Michigan to seed and grow more startups and attract more investors, particularly large institutional investors who can put money into Michigan-based funds. Brophy serves as director of the Center for Venture Capital and Private Equity Finance at the University of Michigan and is founder of the annual Midwest Growth Capital Symposium. He spoke with MiBiz about the status of venture capital in Michigan. 

Published in Finance
Friday, 24 January 2020 12:03

Independent Bank mortgage loans top $1 billion

GRAND RAPIDS — Independent Bank Corp. ended 2019 with a nearly 40-percent growth rate in quarterly earnings.

Published in Finance

Friday, 24 January 2020 12:01

Macatawa Bank reports strong net income growth for fourth quarter

HOLLAND — Macatawa Bank Corp. grew net income 16 percent in the fourth quarter to $8.1 million, or 24 cents per diluted share, capping off a year of strong earnings growth.

Published in Finance
Tuesday, 21 January 2020 11:31

Mercantile reports earnings, loan growth

GRAND RAPIDS — Mercantile Bank Corp. grew earnings for the fourth quarter and all of 2019.

Published in Finance
Sunday, 19 January 2020 16:00

Community Shores deal ‘makes a lot of sense’ for ChoiceOne

SPARTA — ChoiceOne Financial Services Inc. wasn’t actively looking to do another deal, but the parent company of ChoiceOne Bank saw an opportunity with Community Shores Bank Corp. that was too good to pass up. 

Published in Finance

Friday, 17 January 2020 12:26

VC firms invested $7 million in West Michigan firms during fourth quarter

West Michigan companies secured a collective $7 million in later-stage venture capital during the fourth quarter, as investments in Michigan reached a new high.

Published in Finance
Monday, 06 January 2020 11:17

SalesPage acquires Wisconsin fintech firm

KALAMAZOO — SalesPage Technologies LLC made its second acquisition in seven months with a deal for SalesStation, a division of Milwaukee, Wisc.-based Celera Systems LLC.

Published in Finance
Monday, 06 January 2020 09:36

ChoiceOne to acquire Community Shores Bank in $21.9 million deal

SPARTA — Five months after closing one acquisition, ChoiceOne Financial Services Inc. now plans to do another.

Published in Finance

Friday, 03 January 2020 12:20

State allocates $7 million in funds to back early-stage entrepreneurs

An assortment of state-backed capital funds and initiatives to support business startups, innovation and entrepreneurs recently earned renewal in Lansing.

Published in Finance
Sunday, 05 January 2020 17:08

Banks reluctant to serve Michigan’s cannabis industry, but options exist

Conner McClain and his business partner at In Between Dreams LLC plan to open an indoor growing facility for medical marijuana early next year in Vicksburg.

Published in Finance
Friday, 03 January 2020 17:07

Bank execs could face fewer deal prospects in 2020

Bank M&A may ease in 2020, as fewer executives surveyed by the trade publication Bank Director view the market as favorable for deals.

Published in Finance

Sunday, 05 January 2020 17:05

M&A Roundtable: Buyers continue chasing deals as limited inventory of quality sellers persists

ROUNDTABLE: The M&A market ended 2019 in good shape and professionals who work in the field expect dealmaking to remain strong in the new year. 

Published in Finance
Sunday, 05 January 2020 17:01

Q&A: Matt Boersen Managing partner, Straight Path Wealth Management

Matt Boersen considers his new role as a director at the Washington, D.C.-based Certified Financial Planner Board of Standards Inc. as coming at a pivotal time for the industry. The CFP Board of Standards last fall enacted a “fiduciary standard” that requires financial advisers to act solely in a client’s best interest when providing advice. The 31-year-old Boersen was one of three new directors recently elected to four-year terms on the board of directors for the CFP Board of Standards, which sets professional standards for financial planners and administers the CFP certification. The financial planner and managing partner at Jenison-based Straight Path Wealth Management spoke with MiBiz about the changes and the perspective he brings to the board.

Published in Finance
Friday, 27 December 2019 08:31

Blackford Capital invests in Cartridge World

GRAND RAPIDS — Private equity firm Blackford Capital Inc. purchased the U.S. brand licensing rights to Cartridge World, a franchised printing consumables brand. 

Published in Finance

Friday, 20 December 2019 10:17

PE-backed High Street Insurance makes first acquisition in Southeast Michigan

TRAVERSE CITY — Private equity-backed High Street Insurance Partners Inc. has acquired InPro Insurance Agency LLC, a full-service independent insurance agency in Troy, Mich.

Published in Finance
Sunday, 22 December 2019 18:12

U.S. Economic Outlook: Economists expect U.S. to avoid recession in 2020

Fears of a national recession in 2020 are largely unfounded. So insists Jim Robey, director of regional economic planning services at the Kalamazoo-based W.E. Upjohn Institute for Employment Research.

Published in Finance
Sunday, 22 December 2019 14:28

Michigan Economic Outlook: After ‘disappointing’ year, Michigan economy poised to grow in 2020

A combination of factors came together in 2019 to take a bite out of Michigan’s economy. The six-week General Motors strike, white-collar job cuts at GM and Ford early in 2019, a slowing manufacturing sector, and relatively flat auto sales collectively held back the state’s growth this year.

Published in Finance

Sunday, 22 December 2019 18:15

Greenleaf Trust exec: ‘Good case” for more stock market volatility in 2020

Investors approach 2020 with a little anxiety from concerns about the future of the U.S. economy that moved into a record period of expansion this past summer, plus the presidential election and other issues that create uncertainty. Nick Juhle, vice president and director of investment research, says investors view the stock market much as they did a year ago: with a sense of uncertainty about how long economic growth can last.

Published in Finance
Tuesday, 17 December 2019 16:24

Grand Ventures portfolio company sold to VC-backed firm

GRAND RAPIDS — Grand Ventures’ portfolio company Sigstr of Indianapolis has been acquired by another growing venture capital-backed tech firm. 

Published in Finance
Friday, 13 December 2019 10:56

Charter Capital mezz fund invests in Ann Arbor firm

GRAND RAPIDS — Charter Growth Capital Fund has invested in All Star Driver Education LLC, an Ann Arbor provider in driver education.

Published in Finance

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