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Displaying items by tag: 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
Sunday, 15 August 2021 17:30

Banks willing to work with potential borrowers still carrying PPP loan debt

Businesses that received a federal Paycheck Protection Program loan and are growing or intend to seek financing for an expansion should apply for loan forgiveness as soon as possible, according to bankers.

Published in Finance

Sunday, 15 August 2021 17:15

Latest Grow Michigan fund fills capital niche for growing businesses

statewide loan fund that provides growth capital to rapidly growing businesses expects to start doing deals soon after agreements with its initial investors have been finalized.

Published in Finance
Tuesday, 03 August 2021 11:00

Dick DeVos to step down as president of The Windquest Group

GRAND RAPIDS — Dick DeVos has announced plans to step down as president of The Windquest Group.

Published in Finance
Sunday, 01 August 2021 17:03

Michigan Capital Network aims to raise $25M for fourth VC fund

GRAND RAPIDS — Michigan Capital Network plans to form a fourth venture capital fund.

Published in Finance

Thursday, 29 July 2021 16:49

Independent Bank earnings dip in latest quarter

GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the second quarter from the prior year, largely because of lower non-interest income and higher non-interest expenses.

Published in Finance
Thursday, 29 July 2021 10:06

ChoiceOne reports higher quarterly earnings amid ‘signs of economic recovery’

SPARTA — ChoiceOne Financial Services Inc. reported higher second-quarter earnings as the economic recovery from the COVID-19 pandemic continues.

Published in Finance
Tuesday, 27 July 2021 22:47

NBA star Chris Paul among latest investors in GR-based sports tech firm

GRAND RAPIDS — Sports technology firm MaxOne LLC announced this week that it has raised $3.5 million in capital, which includes an investment from professional basketball star Chris Paul.

Published in Finance

Tuesday, 20 July 2021 12:15

Mercantile Bank more than doubles quarterly earnings as lending remains strong

GRAND RAPIDS — Mercantile Bank Corp. more than doubled earnings for the second quarter as growth in commercial and residential mortgage lending remained strong.

Published in Finance
Sunday, 18 July 2021 17:46

Retaining clients, talent top priorities for Huntington execs after TCF merger

The $22 billion merger with TCF Financial Corp. brought new leadership for Huntington Bancshares Inc. in West Michigan that’s focused on retaining talent and customers while executing a massive corporate pledge to small businesses and underserved markets.

Published in Finance
Sunday, 04 July 2021 16:30

Baldwin bank raises $15M to support growth

BALDWIN — A surge in deposits led a small community bank serving rural markets north of Grand Rapids to raise $15 million that will go to support growth and maintain regulated capital ratios.

Published in Finance

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