BANKING & FINANCE

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Consumers Credit Union hires VP of mortgage lending

A credit union in the region hired a new leader to oversee its mortgage lending division.

Japanese pharmaceutical company acquires local drug developer for $500M

A Grand Rapids-based drug company signed an agreement to be acquired by a Japanese pharmaceutical company, including the rights to a drug in development for treating Alzheimer’s disease.

Salons assemble their game plans

Everyone wants a haircut, but at what cost?

Right Place learns from small business relief collaboration

During a meeting of the Kent County COVID-19 relief subcommittee, The Right Place Inc. presented an overview of the its Small Business Grant program as well as an update to its own COVID-19 response.

USDA taps food service suppliers

The U.S. Department of Agriculture has awarded contracts under the Farmers to Families Food Box Program to four West Michigan food suppliers to purchase and distribute produce, dairy and meat products to different food banks, communities and organizations.

Home refinancing up, but mortgage loans are down

If there is a bright spot in the COVID-19 crisis, it’s that historically low interest rates have made now a good time to refinance a home to save money, according to local experts.

Holding company acquires packaging manufacturer

A family-owned holding company in the region acquired an out-of-state packaging manufacturer.

Maner Costerisan announces 12 new hires

A public accounting, technology and business advisory firm made 12 new hires since March 31, most recently appointing a leader for its new wealth management division.

Northpointe Bank appoints executive to three roles

A local bank selected an industry veteran to fill the roles of executive vice president, CFO and chief investment officer.

ChoiceOne Bank names new VP of client development

A bank in the area selected a new vice president of client development to replace a retiring longtime employee.

Bank donates $175K to COVID-19 relief

The Fifth Third Bank Foundation is deploying $175,000 in relief funds that will benefit three West Michigan organizations.

Report shows solid Q1 start, emerging pandemic pain

Michigan’s economic growth was booming in the first quarter with pandemic storm clouds gathering on the horizon, according to a new report.

Banks offering employees additional pay during pandemic

TCF Bank and Fifth Third Bank are providing additional compensation to their essential workers as they work on the frontlines to assist customers.

Investor acquires EMS Grand Rapids

An individual investor acquired a company that offers electromechanical services in Grand Rapids.

Foundation partners with racial equity lender on small business loans

The Doug and Maria DeVos Foundation is partnering with Rende Progress Capital (RPC) to help early-stage businesses and backed its first loan customer.

Agency publishes COVID-19 business impact report

Lakeshore Advantage has been taking the metaphorical temperatures of businesses in its coverage area and has published the outcomes in a new report.Alongside nine...

Report tracks ‘devastation’ of state’s hospitality industry

A statewide association has published survey data showing the “devastating” effect of the coronavirus on the hospitality industry and is endorsing a national organization’s proposed multi-step solution to save the industry.

Kent County receives Triple-A bond rating for 22nd consecutive year

Rating agencies S&P Global and Moody’s Investors Service once again affirmed long-term Triple-A credit ratings for Kent County.

Seed fund will assist startup entrepreneurs

More funds soon will be available for some startups.

Lawmakers present less restrictive COVID plan

Michigan Senate Majority Leader Mike Shirkey introduced a plan to open Michigan, safely, in response to Gov. Gretchen Whitmer’s shelter-in-place order, which has been criticized for being too restrictive on essential businesses.

Container company sells to paper and packaging venture

A longtime family-owned container and packaging company on the lakeshore was acquired by an out-of-state paper mill and packaging joint venture.

Monument company acquires headstone maker

A company that makes and engraves memorials for cemeteries was acquired by a similar company.

Grants will promote state’s beers, wines, ciders and spirits

Researchers are receiving a record amount of state funding for projects that would benefit the beer, wine, cider and distilling industries.

Retailers blame some fraud on easy resale online

The Michigan Retailers Association wants to hold online marketplaces accountable in an effort to combat the sale of stolen goods.

Community foundation launches loan program

Applications are due April 24 for a new loan opportunity for nonprofits in Ottawa County.

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