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U-M economic outlook shows short-term return to growth; inflation concerns through 2023
University of Michigan economists expect second-quarter growth for the U.S. economy, although momentum may wane in the latter half of the year as interest rates rise. University of Michigan economists expect second-quarter growth for the U.S. economy,...
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State GOP lawmakers pass tax cut plan amid expected budget revenue windfall
Republicans in Lansing have passed another election-year tax cut plan that would reduce the personal income tax, raise Michigan’s earned income tax credit, and create a $500 per-child tax credit. EDITOR’S NOTE: This story has been updated with new...
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Lighthouse Group owner acquires West Michigan Insurance Inc. as industry consolidation continues
Chicago-area insurance brokerage and financial services firm Alera Group has acquired West Michigan Insurance Inc., a Grand Rapids property and casualty agency. Chicago-area insurance brokerage and financial services firm Alera Group has acquired West...
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Michigan slips in hospital-payment ranking as health systems also face rising costs
Michigan slipped six spots in RAND Corp.’s latest analysis of what hospitals in the U.S. charge private health insurers compared to what they receive from Medicare. Michigan slipped six spots in RAND Corp.’s latest analysis of what hospitals in the...
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Federal agencies propose ‘long overdue’ changes to equitable lending rules as banking moves virtual
A proposal by a trio of federal agencies would bring major banking industry regulations into the modern digital age as banking is increasingly done electronically instead of in branch offices. A proposal by a trio of federal agencies would bring major...
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GR software firm specializing in wire transfer fraud protection raises $12.5M
CertifID LLC, a Grand Rapids company that developed software to protect money wire transfers in real estate transactions, has closed on $12.5 million in growth capital. CertifID LLC, a Grand Rapids company that developed software to protect money wire...
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Greenleaf Capital invests $10M to scale up Kalamazoo fund for entrepreneurs; new committee to focus on women in leadership
A Kalamazoo-based investment fund that also looks to cultivate and support a new generation of entrepreneurs who want to own a business will use a $10 million investment to scale operations. A Kalamazoo-based investment fund that also looks to...
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Pine Rest patient volume exceeds expectations since opening psychiatric urgent care center in 2019
Pine Rest Christian Mental Health Services’ psychiatric urgent care center has served more than 13,500 patients since opening in 2019, a volume that exceeded expectations and accelerated as the COVID-19 pandemic took a toll on mental health. Pine Rest...
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Report: Michigan hospitals rank 5th in nation for patient safety
Michigan ranked fifth in the nation for patient safety as more than three-quarters of hospitals in the state received an “A” or a “B” grade, according to the latest installment of a semi-annual report card. Michigan ranked fifth in the nation for...
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Spectrum Health to introduce heart transplant procedures for children
GRAND RAPIDS — More than a decade after performing the first adult heart transplant in Grand Rapids, Spectrum Health West Michigan wants to extend the procedure to children. GRAND RAPIDS — More than a decade after performing the first adult heart...
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Industrial, multifamily residential remain ‘darlings’ for commercial real estate lending
Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments. Lending to the commercial real estate sector remained strong through the first quarter,...
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Video Q&A: West Mich. banking veteran discusses lending environment amid economic volatility
interest rates and why PNC executives remain bullish on the economy. This online interview, conducted by Senior Writer Mark Sanchez, accompanies additional commercial lending coverage in the May 9 print edition of MiBiz. {loadmoduleid 898}
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Trinity Health Muskegon, nurses union agree to new contract deal
The union representing registered nurses at Trinity Health Muskegon has agreed to terms on a new contract with the health system that will pay them higher wages as well as retention and other one-time bonuses. EDITOR’S NOTE: This story has been updated...
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Aquinas names Alicia Córdoba as school’s new president
GRAND RAPIDS — Aquinas College has named Alicia Córdoba as its ninth president in the school’s 146-year history. GRAND RAPIDS — Aquinas College has named Alicia Córdoba as its ninth president in the school’s 146-year history. Córdoba starts in July...
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Report: 2021 angel investing neared or exceeded pre-pandemic levels
Angel investing in Michigan rebounded well in 2021 as the amount invested neared — and deal flow exceeded — pre-pandemic levels. Angel investing in Michigan rebounded well in 2021 as the amount invested neared — and deal flow exceeded — pre-pandemic...
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Flynn named Midwest regional executive of commercial banks for PNC
PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest. PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest. Flynn, formerly West Michigan regional president at...
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Huntington Bank CEO ‘very bullish’ on regional economy as company integrates TCF
Huntington Bancshares Inc.’s acquisition last year of Detroit-based TCF Financial Corp. created the second-largest bank operating in Michigan for deposit market share and with more branch offices than any other bank. The Columbus, Ohio-based...
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Stryker records Q1 sales growth despite supply chain, hospital staffing challenges
KALAMAZOO — Stryker Corp. recorded a solid first-quarter sales gain despite supply chain issues and staffing shortages at hospitals that delayed the installation of capital medical equipment. KALAMAZOO — Stryker Corp. recorded a solid first-quarter...
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Macatawa Bank’s Q1 earnings dip from last year
Lower fee income resulting from reduced home mortgage originations and the federal government’s Paycheck Protection Program loans caused Macatawa Bank Corp.’s earnings to decline in the first quarter from a year earlier. Lower fee income resulting from...
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$120M federal contract positions Grand River Aseptic Manufacturing for further growth
GRAND RAPIDS — A $120 million investment by the federal government will fund a large share of the cost for Grand River Aseptic Manufacturing Inc.’s latest expansion. GRAND RAPIDS — A $120 million investment by the federal government will fund a large...
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