Finance

Bankers in West Michigan and nationwide could get some regulatory relief this year.

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Private equity investments in Michigan grew in 2016 with an increase in both deals and the amount of capital invested.

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More bank branches closed in Michigan than in 45 other states in the years following the most recent financial crisis.

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GRANDVILLE — Grand River Bank’s parent company has raised $14.4 million in new investor capital to support the firm’s continued growth, MiBiz has learned.

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In securing a $40 million investment, Cirius Therapeutics Inc. illustrates a fundamental change that occurred in Michigan’s venture capital sector over the last decade.

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KALAMAZOO — A $40 million venture capital investment in a company spun out of a Kalamazoo-based drug development firm comes with a new executive management team based across the country.

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MUSKEGON — After more than six years of operating under increased regulatory scrutiny, CEO Heather Brolick wants people to know that Community Shores Bank Corp. is “back on track” and growing again.

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GRAND RAPIDS — Michigan State University Federal Credit Union’s plan for a downtown office brings another player into the market as Michigan credit unions enjoy a period of strong growth.

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BERRIEN SPRINGS — Two pending mergers with smaller credit unions would extend Honor Credit Union into the Battle Creek and Kalamazoo areas.

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MIDLAND — For the third time in two years, Chemical Financial Corp. wants to have more shares on hand to as it pursues additional acquisitions.

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Bank of America’s planned move to a new regional office in downtown Grand Rapids comes as the bank seeks to grow its West Michigan presence.

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GRAND RAPIDS — Backed with capital from a Chicago private equity firm, Grand Rapids Ophthalmology PC plans to expand across Michigan and eventually into neighboring states.

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EAST LANSING — Early-stage investment fund Quantum Medical Concepts plans to invest larger amounts in health care startups after spinning off from its founding organization and securing an additional investment partner.

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GRAND RAPIDS — In seeking to raise up to $50 million for its first fund, Grand Ventures I LP could soon add to the availability and accessibility of venture capital in Michigan. 

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GRAND RAPIDS — Two acquisitions to start 2017 give Lake Michigan Insurance Agency a wider presence across the state to drive growth and pursue further deals in an era of industry consolidation.

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LANSING — A group of Lansing-area investors wants to provide seed capital to one new company annually that’s just getting off the ground.

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Venture capital investors say work over more than a decade to spur greater innovation and build a better entrepreneurial climate in Michigan has provided them with better investment prospects.

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The first time Jason Mejeur pitched to a prospective venture capital investor, armed with his “crappy” PowerPoint presentation to explain his concept, he failed to secure any money.

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HOLLAND — A $555,000 investment gives a Holland-based sports-related mobile application developer the seed capital it needs to pursue additional clients and grow the business.

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ADetroit-based nonprofit will manage a new statewide fund created to provide needed early-stage capital to startups in Michigan.

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Professionals working in mergers and acquisitions in West Michigan expect strong deal flow to continue in 2017, maintaining a seller’s market.

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Mergers and acquisitions within the banking industry are expected to maintain a steady pace in the new year.

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MOUNT PLEASANT — Central Michigan University may launch a new graduate program later this year that would add to entrepreneurial education in the state. 

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Tim Parker wasn’t actively looking for a new opportunity when he came across a LinkedIn posting that intrigued him.

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GRAND RAPIDS — Three years after opening a local lending office, Horizon Bank plans to begin developing a branch network in the Grand Rapids market.

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EAST LANSING — A new venture capital firm formed by Michigan State University’s research foundation targets a critical need for early-stage capital for startups in the state.

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Fifth Third Bank’s $30 billion corporate commitment over the next four years for community development offers a massive pool of money for West Michigan organizations to potentially tap to fund projects and initiatives.

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M&A professionals in Michigan feel a little more optimistic than their counterparts nationally about the prospects for stronger deal flow over the next year.

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Of all the issues Greg Carmichael deals with each day, trust and reputation are the ones that concern him the most.

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Kalamazoo-based First National Bank of Michigan plans to open a Holland office five years after moving into the Grand Rapids market.

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trio of initiatives from the Michigan Economic Development Corp. aims to increase the flow of capital to startups and early-stage companies in the state.

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The restoration of an angel tax credit in Michigan looks doubtful before the present legislative term expires at the end of the year.

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Chris Mason and his partners wanted to use a local lender when they sought a loan to start their business in Stevensville, just north of the Indiana border in Berrien County. 

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GRAND RAPIDS — Software development firm Blue Medora LLC raised nearly $7.5 million in capital in what one expert calls a “tough” but “good” environment for companies seeking investors.

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GRAND RAPIDS — A strong marketplace combined with recent consolidation involving community banks lured Level One Bank from its base in suburban Detroit to the Grand Rapids market.

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MIDLAND — As Chemical Financial Corp. moves toward closing its latest and largest acquisition, David Ramaker remains open to additional deals that would further expand the bank’s footprint in the Midwest.

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GRAND RAPIDS — The recently announced leadership transition at Mercantile Bank Corp. has been in the works for years and should provide continuity going from one CEO to another, executives say.

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GRAND RAPIDS — When he retired from Fifth Third Bank at the end of 2015, David Dams told his colleagues that he “was looking for that next new venture or adventure.”

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The trade group for venture capitalists in Michigan wants to form a $100 million fund to match millions in private capital with public investment. 

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Michigan needs to maintain a major push started a decade ago to diversify the state’s economy, according to a study that credits the effort with spurring greater innovation and entrepreneurship.

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Bankers say they hear it regularly from their clients: It’s gotten awfully hard to find good talent these days.

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Two large bank mergers affecting the Michigan market are progressing, with one securing shareholder approval and another awaiting a vote in the coming weeks.

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