fbpx

Displaying items by tag: finance

Friday, 28 June 2019 09:48

State Farm to cut 247 jobs in Kalamazoo area

PORTAGE — Auto insurer State Farm plans to eliminate 247 jobs in Kalamazoo County with the planned closing of an operations center by Aug. 31.

Published in Finance
Sunday, 23 June 2019 19:00

Concept for regional fund to back Great Lakes VC investors faces key hurdles

The idea sounds simple: Create a $150 million to $200 million fund supported by foundations and university endowments to back venture capital investors in the Great Lakes states.

Published in Finance
Friday, 21 June 2019 11:39

MiBiz Growth Report: June 24, 2019

Here is the growth report for June 24, 2019.

Published in Finance

Wednesday, 12 June 2019 07:49

Vestaron raises $40 million in Series B round

Kalamazoo-based Vestaron Corp. plans to use $40 million in new capital to expand commercialization and accelerate the development of an additional line of environmentally friendly pesticides. 

Published in Finance
Sunday, 09 June 2019 19:00

Exit Planning Institute forms West Michigan chapter

GRAND RAPIDS — When advisers begin to prepare a business for a transition and sale, they also need to prepare the entrepreneur for what’s next.

Published in Finance
Sunday, 09 June 2019 19:00

MiBiz Growth Report: June 10, 2019

Here is the growth report for June 10, 2019.

Published in Finance


Friday, 07 June 2019 11:22

Edgewater Bank opens Greenville loan office

GREENVILLE — Edgewater Bancorp Inc. opened a loan office in Greenville after hiring a veteran commercial lender.

Published in Finance
Tuesday, 04 June 2019 09:53

Northpointe Bank parent company raises $25 million from PE firm

Northpointe Bancshare Inc. raised $25 million in capital through a private placement of common stock with Castle Creek Capital LLC, a private equity firm based in Rancho Santa Fe, Calif., north of San Diego.

Published in Finance
Sunday, 26 May 2019 23:06

As angel investing grows statewide, Muskegon Angels makes changes

MUSKEGON — As angel investing maintains a growth trajectory in Michigan, Muskegon Angels LLC pivoted this year to keep investments close to home. The Muskegon angel group now looks to invest in local companies that need capital or financing. Muskegon Angels will continue to invest in startups, as long they’re based in Muskegon or in a neighboring county.

Published in Finance

Sunday, 26 May 2019 23:04

Proposed federal legislation to allow banks to participate in cannabis industry

Federal legislation could remove a big barrier for fledgling cannabis businesses by allowing the nation’s banks to legally serve the industry. Even as more than 30 states have legalized medical marijuana and 10 now allow its recreational use — including Michigan, on both counts — marijuana remains illegal under federal law.

Published in Finance
Sunday, 26 May 2019 21:07

Q&A: Jeffrey Korzenik, Chief Investment Strategist and Senior Vice President, Fifth Third Bank

Jeff Korzenik became interested in how businesses can successfully hire ex-offenders “almost by accident.” He credits sending his children to public magnet schools in Chicago with opening his eyes to the challenges different groups of people face. 

Published in Finance
Sunday, 12 May 2019 22:45

MSU’s student-led VC fund offers new hands-on learning

EAST LANSING — With a new investment fund at Michigan State University, students can gain experience on either side of the venture capital industry. The Student Venture Capital Fund offers students with an idea for a business or an innovation “priceless” experience in seeking capital and pitching to prospective investors, said Jeff Wesley, the executive director of Red Cedar Ventures at MSU.

Published in Finance


Thursday, 02 May 2019 07:45

Rose Street Advisors acquires HRM Innovations

Rose Street Advisors LLC of Kalamazoo has acquired HRM Innovations LLC, a human resources consulting and training firm.

Published in Finance
Monday, 29 April 2019 12:22

Indiana credit union to acquire New Buffalo Savings Bank

South Bend, Ind.-based Teachers Credit Union plans to acquire New Bancorp Inc., the parent company of New Buffalo Savings Bank.

Published in Finance
Sunday, 28 April 2019 18:17

Michigan VC industry makes gains in diversity, still ‘room for improvement’

As Michigan’s venture capital industry made further gains in 2018, it made some progress on one front that’s been the focus of attention the last few years: Diversity. Statistics tucked into the Michigan Venture Capital Association’s 2019 research report show an uptick over five years in investments into startups companies led by women and minorities.

Published in Finance

Friday, 26 April 2019 11:30

FLYOVER NO MORE: National VC group’s event recognizes Midwest growth

The amount of venture capital invested in the Midwest grew at a compound annual rate of 17 percent from 2013 to 2018, the third highest in the U.S., behind the West Coast at 28 percent and the Mid-Atlantic region at 22 percent. The growth rate was one of the reasons the National Venture Capital Association and the University of California Berkeley chose Ann Arbor as the place to launch a new education program, VC University LIVE, on May 15-17 at the University of Michigan Ross School of Business.

Published in Finance
Friday, 26 April 2019 07:40

Macatawa Bank reports strong start to 2019

Macatawa Bank Corp. recorded strong earnings growth for the first three months of 2019.

Published in Finance
Friday, 26 April 2019 09:15

Blackford Capital exits Custom Profile, creates ESOP to take company ‘to its next chapter’

WALKER — Seven years after buying Custom Profile Inc., Blackford Capital Inc. was ready for an exit. In seeking to sell the company, the Grand Rapids-based Blackford Capital evaluated a variety of options. Those options included finding a strategic buyer, a deal with another private equity firm, or selling to Custom Profile’s management and employees under an employee stock ownership plan.

Published in Finance

Thursday, 25 April 2019 09:18

Merger costs flatten ChoiceOne earnings for the first quarter

Merger-related expenses flattened quarterly earnings for ChoiceOne Financial Services Inc.

Published in Finance
Tuesday, 23 April 2019 09:54

Independent Bank reports higher earnings to start 2019

Independent Bank Corp. got off to what President and CEO Brad Kessel called a “solid start” in 2019 with slightly higher earnings.

Published in Finance
Sunday, 21 April 2019 20:59

Woman-backed Michigan VC fund raises $4.5 million to date

A venture capital fund led by women investors to back women-owned startups has raised $4.5 million so far toward a $20 million goal. Belle Michigan Impact Fund LP has attracted 57 investors to date, including its first institutional investor in Toronto-based Canadian Imperial Bank Corp.

Published in Finance

Wednesday, 17 April 2019 11:47

United Federal Credit Union to buy former Whirlpool offices for new HQ

United Federal Credit Union plans to buy a former Whirlpool Corp. office building in St. Joseph for its new corporate headquarters.

Published in Finance
Tuesday, 16 April 2019 15:58

Mercantile Bank continues streak of growth in earnings, loans

Mercantile Bank Corp. began 2019 with higher earnings and strong loan growth that it expects to continue through the year.

Published in Finance
Tuesday, 16 April 2019 09:11

Michigan firms raised record $385 million in VC in 2018

Venture capital funds based in Michigan more than doubled the amount they invested in startups in 2018, although the money went to fewer companies.

Published in Finance

Sunday, 14 April 2019 20:14

New report details insurance industry growth in Michigan

The insurance industry in Michigan grew by double digits over a 13-year period and remains poised to grow even more with the cluster of talent based in the state. Those were among the conclusions in a new report that for the first time offers a broad look at the state’s insurance industry, which in 2018 accounted for 4.6 percent of Michigan’s gross domestic output, directly employed more than 80,000 people, and supported another 58,000 jobs indirectly through the purchase of goods and services.

Published in Finance
Sunday, 14 April 2019 20:34

New firm tailors commercial lending services to small credit union

PORTAGE — In the past, First United Credit Union would consider doing a business loan when a member asked about it. Now, after signing on last year with a Portage firm, the small Grandville credit union takes a slightly more proactive approach toward business lending to members.

Published in Finance
Sunday, 31 March 2019 22:12

ChoiceOne seizes growth opportunity in deal for SE Michigan community bank

SPARTA — ChoiceOne Financial Services Inc.’s proposed $89 million merger with a similarly sized community bank in Lapeer began last summer when Kelly Potes struck up a conversation with his counterparts.

Published in Finance

Sunday, 31 March 2019 22:03

PLAN EARLY AND OFTEN: Advisers say business succession, transition takes years of prep

Craig Hecker had thought about his eventual departure from his family business for a decade or more. A few years before he sold, he began preparing. He spent time “making sure everything was up to date and in good shape,” and even paid off the company’s debt.

Published in Finance
Sunday, 31 March 2019 22:46

Business owners hold the keys to succession planning — if they take action

Some business exits go smoothly; others, not so much. The key for business owners approaching the time when they’re poised to move on is to plan early and often, and to thoroughly think through their approach to the process.

Published in Finance
Sunday, 31 March 2019 22:43

Avoiding ‘nightmare’ succession scenarios requires pre-planning, advisers say

Life happens. So does death. Professional advisers say business owners need to prepare for what happens to their companies in the event they’re taken out of commission by a sudden life-changing event — such as an illness or injury that leaves them incapacitated or debilitated, or worse. Even if an owner experiences a personal crisis that takes him away from the business for an extended period, it can have crushing effects on the company, especially without prior planning, advisers say.

Published in Finance

Page 13 of 15