Displaying items tagged: finance

Monday, 27 June 2022 10:52

Incoming Fifth Third Bank CEO sees ‘excellent tailwinds’ in West Mich. market amid economic disruptions

Tim Spence takes the helm July 5 at Fifth Third Bancorp Inc., succeeding Greg Carmichael, who’s retiring as CEO and becomes executive chairman.

Published in Finance
Thursday, 16 June 2022 11:43

Blackford Capital sells Hudsonville construction equipment dealer amid recent exits

GRAND RAPIDS – Private equity firm Blackford Capital has sold Grand Equipment Co. in Hudsonville to Chicago-based investment firm Cognitive Capital Partners LLC.

Published in Finance
Thursday, 16 June 2022 11:02

Lawmakers, administration reach compromise on investment tax credit bill

State lawmakers have reached a compromise on a bill that would allow taxpayers to claim an income tax credit on their investment in a Michigan-based small business.

Published in Small Business

Tuesday, 07 June 2022 13:08

MSU Federal Credit Union plans second Grand Rapids-area branch

MSU Federal Credit Union plans to add a second office in the Grand Rapids market.

Published in Finance
Thursday, 02 June 2022 13:22

Acrisure to bring back 700 employees to downtown Grand Rapids office

GRAND RAPIDS — Acrisure LLC is set to bring back roughly 700 employees to its new downtown Grand Rapids office under a flexible in-person work plan that’s likely to boost downtown activity while marking a positive step for commercial office space.

Tuesday, 31 May 2022 16:28

Insurance brokerage Acrisure closes on $725 million equity raise

Grand Rapids-based insurance brokerage and fintech Acrisure LLC has closed on a $725 million equity raise that will fund further global expansion.

Published in Finance

Thursday, 19 May 2022 13:24

Lighthouse Group owner acquires West Michigan Insurance Inc. as industry consolidation continues

Chicago-area insurance brokerage and financial services firm Alera Group has acquired West Michigan Insurance Inc., a Grand Rapids property and casualty agency.

Published in Finance
Tuesday, 17 May 2022 15:56

Federal agencies propose ‘long overdue’ changes to equitable lending rules as banking moves virtual

A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices.

Published in Finance
Monday, 16 May 2022 14:56

GR software firm specializing in wire transfer fraud protection raises $12.5M

CertifID LLC, a Grand Rapids company that developed software to protect money wire transfers in real estate transactions, has closed on $12.5 million in growth capital.

Published in Finance

Monday, 16 May 2022 13:46

Greenleaf Capital invests $10M to scale up Kalamazoo fund for entrepreneurs; new committee to focus on women in leadership

A Kalamazoo-based investment fund that also looks to cultivate and support a new generation of entrepreneurs who want to own a business will use a $10 million investment to scale operations.

Published in Small Business
Sunday, 08 May 2022 18:00

Industrial, multifamily residential remain ‘darlings’ for commercial real estate lending

Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments.

Published in Finance
Sunday, 08 May 2022 18:00

Kalamazoo cannabis Ch. 11 filing tests federal bankruptcy process

AKalamazoo cannabis company’s recent Chapter 11 bankruptcy filing will test some particularly murky legal waters and could potentially set a legal precedent for other cannabis-related businesses facing insolvency.

Published in Finance

Thursday, 05 May 2022 16:17

Video Q&A: West Mich. banking veteran discusses lending environment amid economic volatility

Krista Flynn, who started this week in a new role as Midwest regional executive for commercial banking at PNC Bank, discusses the current lending environment in what she describes as relatively volatile economic conditions.

Published in Finance
Wednesday, 04 May 2022 13:43

Report: 2021 angel investing neared or exceeded pre-pandemic levels

Angel investing in Michigan rebounded well in 2021 as the amount invested neared — and deal flow exceeded — pre-pandemic levels.

Published in Finance
Tuesday, 03 May 2022 16:18

Flynn named Midwest regional executive of commercial banks for PNC

PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest.

Published in Finance

Monday, 02 May 2022 17:55

Huntington Bank CEO ‘very bullish’ on regional economy as company integrates TCF

Huntington Bancshares Inc.’s acquisition last year of Detroit-based TCF Financial Corp. created the second-largest bank operating in Michigan for deposit market share and with more branch offices than any other bank. The Columbus, Ohio-based Huntington, which also now ranks among the 20 largest banks in the U.S., has since worked to integrate TCF.

Published in Finance
Thursday, 28 April 2022 22:28

Macatawa Bank’s Q1 earnings dip from last year

Lower fee income resulting from reduced home mortgage originations and the federal government’s Paycheck Protection Program loans caused Macatawa Bank Corp.’s earnings to decline in the first quarter from a year earlier.

Published in Finance
Tuesday, 26 April 2022 18:09

Independent Bank Q1 earnings dip with slower mortgage activity

GRAND RAPIDS — Independent Bank Corp. has recorded lower earnings so far this year as mortgage originations and refinancings slowed.

Published in Finance

Tuesday, 26 April 2022 16:25

Huntington Bank to soon name West Michigan regional president

Huntington Bancshares Inc. expects to soon name a new leader for its West Michigan market following the recent departure of former regional president Krista Flynn.

Published in Finance
Sunday, 24 April 2022 18:17

App-based GR bike repair startup among latest Michigan VC investments

A Grand Rapids startup seeks to do for bicycling what Uber and Lyft have done for transportation or DoorDash, Instacart and similar ventures have done for food and retail delivery.

Published in Finance
Tuesday, 19 April 2022 15:59

Mercantile Q1 earnings decline amid drop in mortgage banking income

GRAND RAPIDS — Mercantile Bank Corp.’s earnings declined in the first quarter from a year earlier as refinancing for home mortgages decreased and reduced fee income.

Published in Finance

Wednesday, 13 April 2022 17:46

Tribally owned GLI takes full operating control of technology firm with new investment

GRAND RAPIDS — Gun Lake Investments assumed full operating control through a new investment in Dallas, Texas-based Hall Technologies LLC, a designer and producer of professional audio/visual systems. 

Published in Finance
Thursday, 07 April 2022 20:23

Traverse City-based credit union plans West Michigan expansion in former TCF branches

A Traverse City-based credit union plans to enter the West Michigan market with the planned opening of three branches in Holland, Zeeland and Muskegon, along with several more in the years ahead.

Published in Finance
Wednesday, 06 April 2022 12:48

Aspen Surgical Products receives additional capital from Boston PE firm

CALEDONIA — Aspen Surgical Products Inc. has received additional capital from Boston-based Audax Private Equity to support further growth.

Published in Health Care

Sunday, 27 March 2022 18:33

Inflation, interest rates, global conflict complicate M&A outlook

After an active dealmaking year in 2021 that was fueled by private equity, the M&A outlook for 2022 is slightly more clouded as inflation grows to 40-year highs, the Federal Reserve begins bumping up interest rates and Russia’s invasion of Ukraine disrupts financial markets.

Published in Finance
Monday, 21 March 2022 13:51

MiBiz on WOOD-TV8: The Fed begins to steadily increase interest rates to combat inflation

The Federal Reserve last week began the first of what’s expected to be several quarter-point interest rate increases to help curb inflation that’s running at a 40-year high.

Published in Finance
Wednesday, 16 March 2022 17:51

Fed’s first of several interest rate increases targets inflation as economy remains strong

The Federal Reserve made the first of what’s expected to become multiple interest rate increases this year.

Published in Finance

Sunday, 13 March 2022 18:36

Tax cut plans come as Michigan’s business tax climate ranks favorably

Michigan’s business tax climate ranks comparatively well to other states, and business advocates say election-year tax cuts proposed in Lansing could further improve that standing.

Published in Finance
Monday, 28 February 2022 11:48

MiBiz on WOOD-TV8: Highlights from the 2022 M&A Deals and Dealmakers Awards

MillerKnoll Inc., Bell’s Brewery Inc. and Huntington Bank were among the top award-winning deals in this year’s MiBiz M&A Deals and Dealmaker Awards.

Published in Finance
Sunday, 13 February 2022 18:29

GR venture capital fund makes first investment, shows ‘strong pipeline’

$500,000 investment from a venture capital fund supporting companies operated by minorities and people of color will help advance Anthony Chang’s vision for a network of advanced cancer treatment clinics across the U.S.

Published in Finance

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