Finance

Michigan’s largest agricultural lender views a $25,000 sponsorship and in-kind support pledged to Ottawa County’s Great Lakes Ag-Tech Incubator as a key part of its business.

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Credit unions across Michigan have enjoyed strong growth in recent years.

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state lawmaker wants to restore an angel investment tax credit in Michigan as a way to create a larger pool of prospective investors in startup companies.

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Updates to a Michigan law now allow credit unions to branch into new services while streamlining their state regulatory burden.

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State revenue from taxes paid by small businesses more than doubled as Michigan’s economy improved coming out of the Great Recession and as the overall business tax burden in the state declined.

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KALAMAZOO — Life sciences startup Innovative Cardiovascular Solutions LLC of Kalamazoo netted $1.4 million so far in a push to raise up to $7 million in Series B capital. 

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The opening of equity-based crowdfunding in the U.S. provides a new option for entrepreneurs to raise money from individuals who want to invest but don’t meet the definition of an accredited investor.

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HOLLAND — Macatawa Bank Corp. sits in a far better position today than it did in the recent past.

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GRAND RAPIDS — Commerce Bank has moved into West Michigan, seeking to carve out a role in the middle market.

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When Mike Price and his colleagues formed Mercantile Bank Corp. nearly 20 years, they faced a vastly different landscape versus what exists today.

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Venture capital firms in Michigan do better than their counterparts nationally, but women and minorities still account for a small number of investment professionals who work in the industry and the entrepreneurs it supports.

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After operating for years in rural communities to the north, ChoiceOne Bank wants to carve out a position in downtown Grand Rapids.

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PARCHMENT — Advia Credit Union’s proposed acquisition of Mid America Bank, a small community bank in southern Wisconsin, is the kind of deal that occurs infrequently in the financial services industry.

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Acrisure LLC bought the most insurance agencies in the U.S. and Canada last year, easily outpacing the number of deals by other acquirers in a consolidating industry.

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As the service sector rises, Julie Weeks says don’t forget manufacturing.

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As private equity deal flow across the U.S. remained strong in 2015, Huron Capital Partners stayed as busy as ever.

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An investment firm that serves RDV Corp., the family office for Amway co-founder Richard DeVos, has formed a $130 million private equity fund.

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Many credit unions recorded 2015 loan growth in the double digits, said Kenley Penner, a partner and the head of Plante Moran PLLC’s credit union practice. Penner attributes the results and lending growth to a “relatively strong” housing market that’s driving mortgage originations, coupled with strong sales volumes for both new and used vehicles.

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Elevated by a couple of major investments, venture capital investing in Michigan life sciences companies in 2015 equaled the dollar value from the prior year with a high number of deals.

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A pair of deals would give Chemical Financial Corp. and Huntington Bancshares Inc. larger footprints in Michigan and could renew the momentum for bank M&A in the state.

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Here is a round-up of quarterly and annual performance filings from banks in West Michigan.

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By all accounts, 2016 should shape up as another strong year, particularly as banks compete for deals and private equity firms still have plenty of dry powder to deploy. Also bolstering the current market, at least for sellers: Corporate balance sheets remain healthy, and valuations should continue to hold steady at their current elevated levels.

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2015 was a record year for mergers and acquisitions. While experts predict 2016 will be another strong year for M&A activity, they also note subtle shifts in the business and economic landscape that could mark the beginning of the end for the current M&A boom.

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Chairman and CEO Mike Price told investors that the Grand Rapids-based Mercantile Bank (Nasdaq: MBWM) remains open to M&A, and even a transaction similar to the $151.5 million “merger of equals” it completed in July 2014 with the former Firstbank Corp.

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If you want to sell your business this year, you still have a pretty good chance of cutting a favorable deal as the seller’s market continues.

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Thell Woods finally is pushing ahead with a series of crowdfunding platforms across Michigan that small business owners can use to raise startup capital from local investors.

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The $62 million investment in an Ann Arbor drug developer, the largest-ever venture capital investment in Michigan, has the potential to drive momentum in the state’s investment capital industry going forward.

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Business advocates in Michigan are applauding the Legislature and Gov. Rick Snyder over changes made late last year to the state’s abandoned and unclaimed property process.

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MiBiz kicks off the new year with a comprehensive special report on the region’s climate for raising, borrowing and lending growth capital. For local companies looking to expand or acquire, money is flowing as lenders and investors compete for deals. What’s driving the flow of capital and how long will the spigot remain wide open?

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Michigan’s venture capital and angel investment industry is growing up fast, getting more sophisticated and starting to make later-stage investments into companies. Meanwhile, private equity firms continue to operate in a hot acquisition market, and family offices are taking a large presence as well and competing more for deals.

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There’s little doubt among local executives that commercial lenders are eager to deploy capital to growing businesses. However, that willingness to lend changes when it comes to service-based companies or startup organizations

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Not that it’s ever easy, but business owners have a greater array of options than ever when seeking financing for their companies. From private investor capital to bank debt, businesses with a good track record should have the ability to secure what they need, according to local finance professionals.

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Dan Bitzer’s ascension to the role of president at First National Bank of Michigan followed a process that directors at the Kalamazoo community bank outlined years earlier.

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Blackford Capital plans to spend 2016 raising money for a new private equity fund that will seek to build off the success of its first fund and invest in Michigan-based companies.

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