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Displaying items by tag: finance

Monday, 15 November 2021 13:49

MiBiz on WOOD-TV: Bell’s Brewery deal latest in West Michigan craft beverage acquisitions

GRAND RAPIDS — Bell’s Brewery Inc.’s announcement last week that it’s selling to the parent company of New Belgium Brewing Co. sent shockwaves through Michigan’s craft beverage industry. It also represents the latest in a series of high-profile deals involving Michigan craft beverage companies.

Published in Finance
Thursday, 11 November 2021 16:53

2022 M&A activity expected to remain strong, according to new outlook

A hot M&A market should get even hotter in the coming year, according to the results of law firm Dykema Gossett PLLC’s latest annual M&A outlook survey.

Published in Finance
Wednesday, 10 November 2021 15:28

Whitmer joins bipartisan call to pass federal cannabis banking regulations

Gov. Gretchen Whitmer has joined 20 other governors in urging Congress to enact legislation that would enable more banks and credit unions to serve the growing cannabis industry.

Published in Finance

Monday, 08 November 2021 12:28

MiBiz on WOOD-TV: New Community Transformation Fund names first managing director

GRAND RAPIDS — A venture capital fund that plans to invest in minority-owned businesses has named Ollie Howie as its first managing director.

Published in Finance
Sunday, 07 November 2021 18:55

Ollie Howie named first managing director of minority-focused venture capital fund

The first managing director of a venture capital fund that plans to invest in businesses owned by people of color sees an opportunity to pioneer an initiative for greater economic diversity in West Michigan.

Published in Finance
Wednesday, 03 November 2021 14:47

Mercantile Bank expands northern Michigan reach with Petoskey lending office

PETOSKEY — Mercantile Bank Corp. has expanded further in the northern Lower Peninsula with the opening of a lending office in Northern Michigan.

Published in Finance

Tuesday, 02 November 2021 14:18

PE firm Blackford Capital adds to hospitality holdings with new acquisition

GRAND RAPIDS — Private equity firm Blackford Capital has added to its holdings in the hospitality sector with the acquisition of ID Collaborative Inc., a Greensboro, N.C.-based interior design firm.

Published in Finance
Monday, 01 November 2021 16:27

Norton Shores distributor Nichols Paper & Supply acquired by expanding New Jersey firm

NORTON SHORES — Nichols Paper & Supply Co., a Norton Shores-based distributor of paper, industrial packaging and sanitary supplies, has been acquired by a New Jersey-based distributor with deep experience in food service packaging and janitorial supplies.

Published in Finance
Friday, 29 October 2021 10:37

Macatawa Bank earnings increase slightly amid deposit, commercial loan growth

HOLLAND TWP. — Macatawa Bank Corp.’s third-quarter earnings grew slightly from a year earlier amid strong deposit growth.

Published in Finance

Thursday, 28 October 2021 16:22

ChoiceOne Bank reports strong Q3 earnings as core deposit base grows

SPARTA — ChoiceOne Financial Services Inc. reported strong earnings growth over the third quarter from a year earlier that included merger-related expenses.

Published in Finance
Tuesday, 26 October 2021 13:43

Independent Bank reports drop in quarterly earnings, though strong commercial lending pipeline remains

GRAND RAPIDS — Independent Bank Corp. recorded lower third-quarter earnings from a year earlier, though year-to-date profits have grown by more than 28 percent.

Published in Finance
Monday, 25 October 2021 17:01

Auxo Investment Partners acquires railroad maintenance company, expects further growth in sector

GRAND RAPIDS — Private equity firm Auxo Investment Partners has entered the railroad business with the acquisition of maintenance company Genesis Rail Services LLC.

Published in Finance

Sunday, 24 October 2021 17:45

Whitmer proposes $200M in federal pandemic relief for tech startups

Gov. Gretchen Whitmer seeks to inject $200 million into Michigan technology startups using federal pandemic relief funds.

Published in Finance
Sunday, 24 October 2021 17:30

Kalamazoo-based med device firm raises $2M as it moves closer to market

CrossLiner Inc. secured a $2 million venture capital investment in the third quarter that will help the company move closer to the marketplace with a new cardiac catheterization device.

Published in Finance
Wednesday, 20 October 2021 09:24

Mercantile Bank records strong Q3 commercial loan growth with new clients

GRAND RAPIDS — Mercantile Bank Corp. recorded strong loan growth in the third quarter with an earnings increase of more than 40 percent from a year earlier.

Published in Finance

Friday, 15 October 2021 15:43

Comerica economists lower expectations, forecast higher inflation rate in 2022

Comerica Inc. economists have lowered their expectations for U.S. economic growth next year while raising the forecasted inflation rate in their latest outlook.

Published in Finance
Sunday, 10 October 2021 17:30

New customers, federal relief programs drive growth in bank deposits

Some of the smallest banks in Michigan’s market recorded the biggest growth rates in deposits during a recent 12-month period of the COVID-19 pandemic.

Published in Finance
Tuesday, 21 September 2021 15:53

Skymint to acquire 3Fifteen in latest Michigan cannabis deal

ANN ARBOR — Michigan-based cannabis company Skymint Inc. has acquired 3Fifteen Cannabis in a deal that broadens the company’s position across the state.

Published in Finance

Thursday, 16 September 2021 15:19

Grand Rapids tax services firm acquires N.Y. software provider

WALKER — Greatland Corp., which provides tax reporting services to businesses nationwide, has acquired a New York firm that provides W-2 and 1099 preparation forms and software.

Published in Finance
Wednesday, 15 September 2021 16:34

CTS Telecom to expand Southwest Michigan service area after acquisition by MetroNet

GALESBURG — Indiana-based fiber optic provider MetroNet, which services clients across the U.S., announced on Wednesday that it has acquired Southwest Michigan-based fiber optic internet provider CTS Telecom Inc.

Published in Finance
Wednesday, 15 September 2021 10:39

Acrisure appoints former Disney executive as new CFO

GRAND RAPIDS — Acrisure LLC has hired a new chief financial officer who comes from The Walt Disney Co. and will play a key role in helping the company grow beyond the core insurance business.

Published in Finance

Sunday, 12 September 2021 17:50

Union Bank eyes ‘huge opportunity’ for GR-area market share with new HQ

GRAND RAPIDS TWP. — Relocating its headquarters closer to Grand Rapids will give Union Bank a bigger presence in a market that’s been generating growth for a few years.

Published in Finance
Sunday, 12 September 2021 16:33

Grand Wealth Management provides key lessons in succession planning

The path that Jeff Williams charted years ago was designed to ensure that Grand Wealth Management LLC continues well past his eventual retirement.

Published in Finance
Tuesday, 07 September 2021 14:19

ChoiceOne Bank raises $32.5 million to support growth plans, shareholder value

SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.

Published in Finance

Wednesday, 01 September 2021 14:38

Century Technology Group adds third tech company to portfolio with latest acquisition

ADA — Century Technology Group Inc. continues to add to its portfolio of technology-focused companies with the acquisition of a Grand Haven-based emerging tech and media firm.

Published in Finance
Sunday, 29 August 2021 17:25

$6.5M state investment in Michigan Rise to fuel more startup funding

An additional $6.5 million state investment gives pre-seed fund Michigan Rise more capital to back a strong pipeline of startup companies.

Published in Finance
Sunday, 29 August 2021 17:40

Reporter's Notebook: Hagerty’s $3B merger showcases Michigan’s insurance sector

TRAVERSE CITY — The $3.1 billion deal to combine Hagerty Insurance Group LLC with Aldel Financial Inc. would create a publicly traded company that expects to maintain significant growth.

Published in Finance

Wednesday, 25 August 2021 12:29

Union Bank planning new headquarters in Grand Rapids Township

Union Bank plans to move its corporate office to a new facility now under construction in Grand Rapids Township.

Published in Finance
Wednesday, 18 August 2021 12:28

Traverse City specialty auto insurer Hagerty to go public in $3 billion SPAC merger

TRAVERSE CITY — Specialty auto insurer Hagerty Group LLC will combine with special purpose acquisition company Aldel Financial Inc. in a $3 billion deal that would make Hagerty a publicly traded company once the merger closes.

Published in Finance
Sunday, 15 August 2021 17:35

Two community banks embrace digitization trend with new products, investments

Two local community banks are following the industry’s deeper push into digital banking that has accelerated since the onset of the COVID-19 pandemic last year.

Published in Finance

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