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7 Michigan credit unions unite to offer trust, investment services. Bankers decry tax-exempt institutions’ ‘unfair advantage’Written by Mark Sanchez
The proposed formation of a trust bank by seven Michigan credit unions gives new fodder to a long-standing battle in the financial services industry.
GRAND RAPIDS — The pending acquisition of 13 offices from an Ann Arbor mortgage company would extend Northpointe Bancshares Inc.’s reach into new markets.
GRAND RAPIDS — Investment firm Grand Angels plans to launch its third venture capital fund, MiBiz has learned.
GRAND RAPIDS — The newest investment fund in West Michigan offers a new model for individual investors to take their first steps into the world of venture capital.
GRAND RAPIDS — An M&A firm catering to small businesses took on a new name as it began to pick up clients and reach out nationally.
A new $20 million venture capital fund aims not only to generate returns for investors but also address a wide gender gap in the investing industry.
Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.
A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores.
Rising interest rates won’t lead to change in how banks underwrite credit, although business borrowers need to monitor their effects if they opt for a variable-rate commercial loan.
GRAND RAPIDS — Believing that bringing aboard good talent can contribute to driving growth, Legacy Trust CEO Tracey Hornbeck opted to expand the firm’s reach when seeking to add a wealth management adviser.
As Michigan begins to license medical marijuana businesses, a new association seeks to offer an array of financial services to the industry.
FREMONT — The planned opening of a loan office in Fremont could lead to other locations in West Michigan for Edgewater Bank.
Seeking to drive growth and reach further into middle market companies across the Midwest, Chemical Bank has steadily added to its roster of commercial bankers since last summer and developed lending specialties.
Michigan’s venture capital industry needs to accelerate its growth even after the steady progress it has made in the last decade.
Michigan has more angel investors than ever who invest in startup companies, but Skip Simms believes that’s still not nearly enough.
Executives at banks and credit unions across Michigan found common ground in advocating for legislation to ease federal regulations they say hurt smaller financial institutions and their ability to lend.
HOLLAND — The organizers behind the new cultivate(MD) Capital Fund GP LLC found backers by appealing to their own global professional networks and investors with whom they had previously done business.
GRAND RAPIDS — The pending acquisition of TCSB Bancorp Inc. gives Independent Bank Corp. a position in an attractive banking market in Northwestern Michigan.
The consolidation trend among Michigan credit unions remained strong in 2017, leading to a further reduction in the number of institutions in the state.
WYOMING — Tucked away in a nondescript warehouse in a Grand Rapids suburb, hundreds of custom-built computer servers are at work 24 hours per day, seven days per week.
Over the last couple of years, Eric Seifert has started hearing from past clients whom he helped get commercial loans to start their businesses more than two decades ago.
Venture capital investors put more money into a similar numbers of deals in 2017 compared to the prior year, a sign that target companies are maturing and securing larger capital rounds.
HUDSONVILLE — After assembling a team of veteran commercial lenders, West Michigan Community Bank is putting more focus on growing in the greater Grand Rapids area.
John Donnelly considers Independent Bank Corp.’s proposed $63.1 million deal to buy Traverse City-based TCSB Bancorp Inc. as indicative of the bank mergers likely to occur in Michigan next year.
GRAND RAPIDS — The sign in the window at 250 Monroe Avenue that reads “A new way to bank: coming soon” teases passersby of the new digital branch that Bank of America soon plans to open downtown.
GRAND RAPIDS — As consolidation among independent insurance brokers accelerates across the country, Fifth Third Bancorp Inc. is pushing deeper into the industry through acquisitions.
MUSKEGON — Citing the high cost of complying with public reporting requirements, Community Shores Bank Corp. plans to deregister its shares with federal securities regulators.
Next year should usher in an even stronger M&A market across the U.S. than in 2017, with more deals occurring in the middle market and involving privately-owned companies.
Midwest game-changer: With latest raise, tech firm Blue Medora brings in $22.5 million entirely from regional VC firmsWritten by Mark Sanchez
GRAND RAPIDS — The latest investment that positions enterprise software developer Blue Medora Inc. for further growth reflects the emergence of venture capital in the Midwest over the past decade.
GRAND RAPIDS — A $125,000 federal grant provides the funding for Grand Rapids Opportunities for Women to gear up to become a larger lender to small businesses.
GRAND RAPIDS — As older entrepreneurs increasingly seek to sell their small businesses and retire, Max Friar saw a business opportunity.
State lawmakers are looking to resolve what appears to be an oversight when it passed legislation in 2016 creating a regulatory framework for the medical marijuana industry.
The number of venture capital deals in Michigan held relatively steady through the third quarter of 2017 compared to the same period a year earlier, although the amount invested declined.
HOLLAND — Partners in a firm that invests in medical device innovations are considering forming a new $10 million venture capital fund to back early-stage health care startups, MiBiz has learned.
OSHTEMO TOWNSHIP — Years of sustained growth has Advia Credit Union planning to develop a new corporate office.
GRAND RAPIDS — In restructuring its executive team, Legacy Trust wants to bring a greater diversity of perspectives to the decision-making process and setting strategy.