Lake Michigan Credit Union will gain a larger presence along Florida’s Gulf Coast with the acquisition of a community bank.
United Bank of Michigan plans to expand to the lakeshore market with the opening of a branch office next year in Holland.
JACKSON — CMS Energy Corp. plans to sell a Utah-based bank that specializes in home improvement lending nationwide.
Raising the number of authorized shares by 25 percent gives ChoiceOne Financial Services Inc. greater ability to pursue another acquisition should the opportunity arise.
Buying 14 offices in the central and northern Lower Peninsula from TCF Bank provides a broader stage for Horizon Bancorp Inc.’s further expansion in Michigan.
KALAMAZOO — The Western Michigan University management professors behind an investment fund that looks to cultivate and support a new generation of entrepreneurs hope to complete fundraising by the end of 2021.
MUSKEGON — Consumers Credit Union has started construction on a new office in Muskegon that will expand its presence along the lakeshore.
Honor Credit Union will add an office in the Grand Rapids area with the planned acquisition of the smaller ATL Federal Credit Union.
The $22 billion merger between Huntington Bancshares Inc. and Detroit-based TCF Financial Corp. should close within two weeks following regulatory approvals.
GRAND RAPIDS — A venture capital firm that invests in medical device technologies wants to raise $30 million for a new fund to support portfolio companies progressing with commercializing their innovations.
Federal legislation advancing through Congress this session could lead to more banks serving marijuana-related businesses in the U.S. and Michigan.
Michigan’s venture capital industry made modest strides in the last few years to create greater diversity within its ranks and in the number of startups run by women or minorities that receive investments.
Bank lending for commercial real estate and development held steady through the first quarter as some sectors experienced high demand and others remained somewhat soft as the COVID-19 pandemic surpassed a year.
GRAND RAPIDS — Independent Bank Corp.’s first quarter soared from a year earlier, driven in part by a strong mortgage market.
The COVID-19 pandemic that’s battered the hospitality industry generates an opportunity for Grand Rapids private equity firm Blackford Capital to grow a recently merged portfolio company.
Venture capital investors in Michigan backed more startup companies in 2020 than ever before, though the amount they put into deals declined by half in a year when the COVID-19 pandemic altered deal flow.
SPARTA — ChoiceOne Financial Services Inc.’s quarterly earnings nearly doubled from a year earlier following an acquisition last fall.
GRAND RAPIDS — Strong income from mortgage lending helped to push Mercantile Bank Corp.’s earnings higher for the first quarter.
TRAVERSE CITY — A Boston private equity firm has acquired Traverse City-based High Street Insurance Partners Inc., an insurance brokerage platform company formed in 2018 that has since acquired two-dozen agencies across the U.S.
A statewide loan fund to provide growth capital to Michigan small businesses expects to start closing deals by the end of the month after securing state support.
Experts view the mergers and acquisitions market and U.S. economy with slightly more optimism than six months ago, although the prospect of corporate and other federal tax increases has them concerned about the resulting effects on deal flow.
West Michigan’s industrial economy entered the second quarter trending along with the global and national economic recoveries from the effects of the COVID-19 pandemic.
Mergers and acquisitions should remain strong through 2021 — driven by several factors affecting deal flow — although finding a good deal may come with a high price for buyers.
Shareholders at TCF Financial Corp. and Huntington Bancshares Inc. on Thursday backed the planned $22 billion merger between the two banks. The deal remains on track to close in the second quarter, pending federal regulatory approvals.
GRAND RAPIDS — Acrisure LLC has closed on a $3.4 billion capital raise, most of which came from the sale of senior preferred stocks to a consortium of investors.
While Huntington Bancshares Inc. and TCF Financial Corp. executives say a planned merger between the two companies will create a Midwest banking powerhouse, some experts view it as an opportunity for competitors to gain both business and talent.
A restructuring for Grand Angels in 2021 aims to create understanding about angel investing and greater diversity among investors and their deals.
The two acquisitions ChoiceOne Financial Services Inc. closed over a 15-month period tripled the size of the Sparta-based bank holding company.
Greg Williams was looking for a company that could move global insurance brokerage Acrisure LLC into the world of artificial intelligence.
Hannah Lawrence remembered the car ride home after closing on the acquisition of her first business — a moment of brief panic.
As the COVID-19 pandemic was just starting to set in last spring, Jeff Lambert jotted down the words “positively legendary” on a sticky note.
As the economy abruptly ground to a halt last spring under COVID-19 restrictions, Jeff Ott stayed busy.
The team at Grand Rapids-based private equity firm Auxo Investment Partners has a saying that every deal has to die once before it closes.
Since launching in July 2019, the Charter Growth Capital Fund has made five investments and raised $31 million to make minority investments in growing, middle-market companies that need growth capital.
GRAND RAPIDS — The West Michigan venture capital fund that intends to invest in growing, minority-owned businesses has garnered attention from interested parties who want to replicate the model elsewhere in the U.S.
The $91 million Northpointe Bancshares Inc. netted in a private stock placement will help support further growth through mid-decade.
HOLLAND — Macatawa Bank Corp. increased earnings in the fourth quarter, although full-year results declined from the prior year.
Independent Bank Corp. posted strong earnings growth during 2020 based in part on a strong mortgage pipeline and despite pandemic-related challenges.
GRAND RAPIDS — The venture capital fund formed a year ago in Grand Rapids to invest in minority-owned businesses has netted $8.5 million in commitments from investors and aims to hit $10 million this year.
Huntington Bancshares Inc. intends to close 198 branch offices — about half of which are based in Meijer Inc. stores in Michigan — after completing the proposed $22 billion acquisition of Detroit-based TCF Financial Corp.
GRAND RAPIDS — Mercantile Bank Corp. ended 2020 with higher quarterly earnings despite the ongoing costs and economic turbulence from the COVID-19 pandemic.
The $15 million Sturgis Bancorp Inc. raised through a debt offering will go to support further growth across Southwestern Michigan.
The latest state effort to provide financial aid to Michigan small businesses and entertainment venues that are ailing from the COVID-19 pandemic and resulting restrictions has a relatively short application window based on previous demand.
TRAVERSE CITY — Insurance brokerage High Street Insurance Partners Inc. has acquired two more agencies, adding to the firm’s existing market presence in the eastern U.S. and expanding it into the Pacific Northwest.