Recent News

Much like 2012 and 2013, the State of Michigan and its community banks continue to experience relative stability, although the State’s economy continues to lag most other states and unemployment remains high (7.9% for the State in June 2014). However, both the State and our banks have displayed a fundamental improvement in health over the…

Originally Published: July 27, 2014 in Crain’s Detroit Business By Tom Henderson How Bank of Ann Arbor takes on giants – and thrives Local bank rose from No. 6 in market share to No. 2 by finding riches in niches The Bank of Ann Arbor has earned a reputation as the little bank that can — hold its…

MBA Annual Conference The Importance Of Good Shareholder Relations Presented by John C. Donnelly June 18, 2014, at The Grand Hotel on Mackinac Island, Michigan

Originally Published: May 25, 2014 in Crain’s Detroit Business By Tom Henderson 25 years reshuffle names, industries on public company list In business, 25 years is an eternity. Industries change. Industries are born. Industries die. Iconic brands get swallowed up in M&A and restructuring deals. A review of the segment shifts, market reaction and business strategy…

Stonegate Mortgage Completes Acquisition of Crossline Capital, California-based Lender and Servicer Licensed in 20 States INDIANAPOLIS–(BUSINESS WIRE)– Stonegate Mortgage Corporation (NYSE:SGM), a leading publicly traded mortgage company focused on originating, financing and servicing U.S. residential mortgage loans, announced today that it completed the acquisition of Crossline Capital, a California-based mortgage lender that originates and services…

John Abbott did not form Summit Community Bank in 2002 with the intent to sell, but when a potential buyer came around with strong earnings and an actively traded, robust currency, it was a partnership he could not pass up. The acquisition of SCB Bancorp Inc., the parent company of Summit Community, by Michigan City,…

Chemical Financial Corporation (“Chemical”) Chemical (NASDAQ: CHFC) is a $5.8 billion financial holding company registered and incorporated in the State of Michigan. The business is concentrated in a single industry segment – commercial banking. Chemical Financial Corporation operates through a single subsidiary bank, Chemical Bank, with 156 banking offices spread over 38 counties in the…

By Lindsey White When Mercantile Bank Corp. and Firstbank Corp. announced plans to merge, the news took some in the industry by surprise, but the reaction from investors, analysts and investment bankers was generally positive. On Aug. 15, Grand Rapids, Mich.-based Mercantile and Alma, Mich.-based Firstbank unveiled an all-stock merger of equals valued at $18.77…

For the first time in many years, the State of Michigan and its community banks have experienced a relatively stable year. Enthusiasm within the State, and specifically the banking community, is improving despite the trepid times in the state’s largest municipality. When compared to national statistics, the Michigan economy was one of the very first…

By David Hayes and Lindsey White and Tahir Ali Capitol Bancorp Ltd. has repeatedly warned that the failure of one unit could bring down the entire franchise. As of June 6, regulators had seized four of the company’s subsidiaries in the space of a month. The North Carolina Office of the Commissioner of Banks closed…