Blackford Capital sells Dickinson Press in first exit for Michigan Prosperity Fund
GRAND RAPIDS — Even when it first acquired Dickinson Press LLC more than three years ago, Blackford Capital saw Brainerd, Minn.-based CJK Group Inc. as a potential buyer.
State regulators approve creation of Credit Union Trust
Seven credit unions in Michigan plans to open a new trust bank late in the first quarter of 2019 after receiving approval from state regulators.
M&A 2018 Awards Recap: Celebrating the dealmakers
MiBiz, in conjunction with the Association for Corporate Growth of Western Michigan, highlighted the winners and finalists of the 2018 M&A Deals and Dealmakers of the Year Awards on Oct. 28 at the Gerald R. Ford Presidential Museum in Grand Rapids.
State extends funding to pair of capital funds
The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.
The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.
Strong economy drives deal flow, optimism for continued bullish M&A market
An already strong M&A market could get even more competitive in 2019, driven by a good U.S. economy and plenty of available capital.
Independent Bank posts strong earnings as commercial loan activity ramps up
The spring acquisition of TCSB Bancorp Inc. in Traverse City, combined with strong loan growth, drove earnings higher for Independent Bank Corp. in the third quarter.
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Cautious and appropriate: Businesses slow to take on debt, even as optimism grows, bankers say
Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.
Loan growth buoys earnings for Independent Bank
Strong loan growth drove Independent Bank Corp. to higher earnings for the third quarter.
Organic growth drives quarterly results for ChoiceOne Financial
ChoiceOne Financial Services Inc. recorded higher earnings of $1.7 million, or 50 cents per share, for the third quarter. The quarterly result compares with $1.6 million, or 50 cents per share, during the same period a year earlier.
Mercantile Bank reports better than expected third quarter performance
Mercantile Bank Corp. today reported higher quarterly earnings.
Chemical Bank to close 25 branches, trim workforce by 7 percent
Chemical Financial Corp. plans to close and consolidate 25 more branches by the end of the year and trim its workforce 7 percent in a cost-cutting initiative that will generate $20 million in annualized savings.
Indiana’s Horizon Bank launches private banking service based in Grand Rapids
GRAND RAPIDS — Horizon Bank’s move into the West Michigan market provided an opportunity to launch a private banking service based in Grand Rapids that will eventually extend across the corporation.
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Lake Michigan Credit Union to acquire Florida-based community bank
Lake Michigan Credit Union plans to grow its Florida presence with a deal to buy a community bank.
Macatawa Bank buoyed by growth in lending
Macatawa Bank Corp. maintained strong earnings and lending growth in the first quarter.
