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Finance

GRAND RAPIDS — Grand Rapids-based fintech and global insurance broker Acrisure LLC has acquired an Illinois company that helps small businesses obtain quotes and buy customized coverage online. 

GRAND RAPIDS — Strong interest from investors led Michigan Capital Network to expand the size of its new venture capital fund, the organization’s fourth since its inception.

A Q&A with Matt Jung, founder of Orange Dot Ventures LLC


GRAND RAPIDS — KeyBank intends to plant a flag in the West Michigan market with the opening of a downtown Grand Rapids office later this year or in early 2023.

HOLLAND — Independent Bank has opened a branch office in Holland at 12368 Riley St., off U.S.-31 near a Meijer Inc. store.

A new West Michigan private equity firm has kicked off with a pair of deals for direct-to-consumer products companies. 



GRAND RAPIDS — Crain Communications Inc. has acquired the Grand Rapids Business Journal from Troy-based Gemini Media LLC, publication executives announced today.

KENTWOOD — Montage Inc., a provider of protection plans for residential furniture, jewelry and watches, has sold to One80 Intermediaries Inc., a Boston-based specialty insurance broker.

WALKER — Keller Ford Inc. has sold to a southeast Michigan dealership group. 


The second investment by the New Community Transformation Fund — a recently formed Grand Rapids investment fund for minority entrepreneurs — went to a Texas fintech that relocated its headquarters to downtown Grand Rapids.

KALAMAZOO — Advia Credit Union has named longtime Chief Financial Officer Jeff Fielder as its next president and CEO.

GRAND RAPIDS — Three years after forming a fund to invest in companies needing growth capital, Charter Capital Partners LLC has begun preparing to start a larger, successor fund.



Business lending remained strong through midyear despite rising interest rates and economic uncertainty that’s generating worries about a potential recession, according to regional banking executives.

The new West Michigan regional president for Huntington Bank moved into the job with nearly three decades of experience in the market.

Leaders behind a Grand Rapids investment fund formed to support entrepreneurs of color hope a similar venture in Colorado becomes the first of multiple funds that replicate the model across the country.


KALAMAZOO — A new chief executive officer took over this month at Kalamazoo-based Consumers Credit Union.

Venture capital investing in Michigan reached an all-time high in 2021 for the amount invested, as the industry built further momentum, continued the growth trend of several years and as the state attracted more outside investors to participate in deals.

GRAND RAPIDS — Grand Rapids-based fintech company and global insurance broker Acrisure LLC has added to its cyber services business with two acquisitions.


Huntington Bancshares Inc. has named a veteran banking executive and longtime West Michigan resident to lead its regional division.

Venture capital investing in Michigan held up well through midyear compared to national trends, as the number of deals were essentially even while the amount invested nearly doubled.

Grand Rapids-based insurance broker and fintech Acrisure LLC signed a 15-year deal for the naming rights of the NFL Pittsburgh Steelers’ home stadium.


The mergers and acquisitions market enters the second half of 2022 facing a stack of issues that may affect deal flow and how transactions are structured.

Tim Spence takes the helm July 5 at Fifth Third Bancorp Inc., succeeding Greg Carmichael, who’s retiring as CEO and becomes executive chairman.

GRAND RAPIDS – Private equity firm Blackford Capital has sold Grand Equipment Co. in Hudsonville to Chicago-based investment firm Cognitive Capital Partners LLC.


MSU Federal Credit Union plans to add a second office in the Grand Rapids market.

Grand Rapids-based insurance brokerage and fintech Acrisure LLC has closed on a $725 million equity raise that will fund further global expansion.

Chicago-area insurance brokerage and financial services firm Alera Group has acquired West Michigan Insurance Inc., a Grand Rapids property and casualty agency.


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.

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.

AKalamazoo cannabis company’s recent Chapter 11 bankruptcy filing will test some particularly murky legal waters and could potentially set a legal precedent for other cannabis-related businesses facing insolvency.


Lending to the commercial real estate sector remained strong through the first quarter, particularly for manufacturing and multifamily residential developments.

Krista Flynn, who started this week in a new role as Midwest regional executive for commercial banking at PNC Bank, discusses the current lending environment in what she describes as relatively volatile economic conditions.

Angel investing in Michigan rebounded well in 2021 as the amount invested neared — and deal flow exceeded — pre-pandemic levels.


PNC Bank has named Krista Flynn as its new executive leading commercial banking in the Midwest.

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 Huntington, which also now ranks among the 20 largest banks in the U.S., has since worked to integrate TCF.

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.


GRAND RAPIDS — Independent Bank Corp. has recorded lower earnings so far this year as mortgage originations and refinancings slowed.

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.

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.


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.

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. 

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.


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.

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.

The Federal Reserve made the first of what’s expected to become multiple interest rate increases this year.


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.

A Q&A with Nathan Owen, general partner at Grand Ventures LLC

Economists at PNC Bank and Comerica Inc. both expect the Federal Open Market Committee to begin raising interest rates next week.