Displaying items tagged: finance
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
GR venture capital fund makes first investment, shows ‘strong pipeline’
A $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.
Despite Q4 earnings decline, Independent Bank carries momentum in 2022 with commercial lending
GRAND RAPIDS — Independent Bank Corp.’s earnings declined in the final three months of 2021 but grew overall for the year.
Macatawa Bank reports lower Q4 earnings as PPP loan forgiveness dips
HOLLAND — Macatawa Bank Corp. recorded lower fourth quarter earnings that partly resulted from reduced fee income as fewer federal Paycheck Protection Program loans were forgiven.
Acrisure inks naming rights deal for SoCal stadium
A new Southern California sports and entertainment venue will take its namesake from a Grand Rapids-based insurance broker and financial technology firm.
ChoiceOne earnings bolstered by prior mergers; bank positioned for growth following capital raise
SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings for 2021, benefitting from mergers that the bank completed in 2019 and 2020.
Grand Rapids CPA firm Beene Garter merges into Troy-based Doeren Mayhew
Grand Rapids accounting firm Beene Garter LLP has merged into Troy-based Doeren Mayhew.
Commercial loans propelled strong earnings for Mercantile Bank in 2021
GRAND RAPIDS — Mercantile Bank Corp. recorded strong earnings in 2021 with loan growth that President and CEO Robert Kaminski Jr. called “nothing short of stellar.”
Reporter’s Notebook: West Michigan balances lagging wages with regional amenities
If it’s money that matters most when people look for work or to relocate for a new job, then West Michigan may be at a disadvantage in competing for the coveted talent needed to drive economic growth.
Hastings Mutual Insurance Co. President and CEO to retire; industry veteran to take over
HASTINGS — Hastings Mutual Insurance Co. President and CEO Joseph Babiak plans to retire on March 31.
Lighthouse Group expands lakeshore presence with Gales Agency acquisition
GRAND RAPIDS — Insurance and employee benefits agency Lighthouse Group has acquired Gales Agency from Shelby State Bank.
Investment adviser anticipates more stock market volatility in 2022
Jerry VanderLugt sees Wall Street with further volatility in 2022. The founder and principal of JVL Wealth Strategies LLC, which recently moved to a new office in Wyoming, VanderLugt spoke with MiBiz about the market in the new year, the prospect of rising interest rates and higher inflation, and where investors are looking to put their money these days.
King named permanent CEO of Gun Lake Investments; activity to accelerate in 2022
Gun Lake Investments started 2022 with a permanent CEO in place and plans to become more active in the market.
Consumers Credit Union CEO retiring after 38 years; COO to take leadership role
KALAMAZOO — The chief executive officer at Consumers Credit Union plans to retire in mid-2022 after 38 years.
Economists forecast ongoing statewide rebound in 2022
Michigan’s economy and jobs are expected to continue to recover in 2022 from the deep downturn last year resulting from the COVID-19 pandemic.
U.S. economic growth forecasts tempered by ongoing COVID, market concerns
The latest coronavirus variant to emerge in a nearly two-year pandemic creates further uncertainty for the U.S. economy in 2022, although economists generally expect continued strong growth.
Bank M&A expected to surge next year after pandemic lull
The new year could bring a continued acceleration of M&A in the banking industry.
Auxo continues rail sector growth with latest acquisition
Auxo Investment Partners reached further into the rail industry with the acquisition of Ferrovia Services LLC, an Auburn, Ala.-based railroad vegetation management company.
Fox Motors expands to metro Detroit with two Erhard dealership acquisitions
Fox Motors has gained a foothold in the metro Detroit market by acquiring two longtime Farmington Hills-based dealerships.
New hire part of Michigan Women Forward’s West Michigan, loan expansion
Hiring a new business development director who’s based in Grand Rapids is part of Michigan Women Forward’s goal to build a larger West Michigan market presence for business lending and support for female-owned businesses and entrepreneurs of color.