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Finance (365)

The consolidation trend among Michigan credit unions remained strong in 2017, leading to a further reduction in the number of institutions in the state.

WYOMING — Tucked away in a nondescript warehouse in a Grand Rapids suburb, hundreds of custom-built computer servers are at work 24 hours per day, seven days per week.

Over the last couple of years, Eric Seifert has started hearing from past clients whom he helped get commercial loans to start their businesses more than two decades ago.

Venture capital investors put more money into a similar numbers of deals in 2017 compared to the prior year, a sign that target companies are maturing and securing larger capital rounds.

HUDSONVILLE — After assembling a team of veteran commercial lenders, West Michigan Community Bank is putting more focus on growing in the greater Grand Rapids area.

John Donnelly considers Independent Bank Corp.’s proposed $63.1 million deal to buy Traverse City-based TCSB Bancorp Inc. as indicative of the bank mergers likely to occur in Michigan next year.

GRAND RAPIDS — The sign in the window at 250 Monroe Avenue that reads “A new way to bank: coming soon” teases passersby of the new digital branch that Bank of America soon plans to open downtown.

GRAND RAPIDS — As consolidation among independent insurance brokers accelerates across the country, Fifth Third Bancorp Inc. is pushing deeper into the industry through acquisitions.

MUSKEGON — Citing the high cost of complying with public reporting requirements, Community Shores Bank Corp. plans to deregister its shares with federal securities regulators.

Next year should usher in an even stronger M&A market across the U.S. than in 2017, with more deals occurring in the middle market and involving privately-owned companies.

GRAND RAPIDS — The latest investment that positions enterprise software developer Blue Medora Inc. for further growth reflects the emergence of venture capital in the Midwest over the past decade.

GRAND RAPIDS — A $125,000 federal grant provides the funding for Grand Rapids Opportunities for Women to gear up to become a larger lender to small businesses.

GRAND RAPIDS — As older entrepreneurs increasingly seek to sell their small businesses and retire, Max Friar saw a business opportunity.

State lawmakers are looking to resolve what appears to be an oversight when it passed legislation in 2016 creating a regulatory framework for the medical marijuana industry.

The number of venture capital deals in Michigan held relatively steady through the third quarter of 2017 compared to the same period a year earlier, although the amount invested declined.

HOLLAND — Partners in a firm that invests in medical device innovations are considering forming a new $10 million venture capital fund to back early-stage health care startups, MiBiz has learned.

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