INDUSTRY INSIGHTS YOUR PEERS ARE READING
9), Michigan became the first state in the union to pass statewide, comprehensive self-driving vehicle regulations that allow autonomous vehicles to drive … well, autonomously. Michigan, the legacy home of the nation’s auto industry, now leads the nation in autonomous vehicle policy, says Recode — ahead of Florida, California and a few others with some current legislation. As of now, only motor vehicle manufacturers can operate self-driving car networks in Michigan. MORE
Michigan State University Federal Credit Union (East Lansing, MI) is planning to construct a three-story administrative building in Auburn Hills, Michigan. According to The Oakland Press, the City Council recently approved the multi-million dollar project. The new facility will become the regional office for $4.5 billion credit union and will house support services, such a a call center, IT help desk and human resources. MORE
Community banking IPOs Capital Branch network Michigan California New York WashingtonMost of Sterling Bancorp's operations are in San Francisco and Los Angeles. The company plans to use some of the $93 million it will raise to expand in New York and Seattle. MORE
Multiple news outlets are reporting that Michigan Department of Insurance and Financial Services has approved a charter for a credit union serving the LGBTQ community. The credit union, Superbia, expects to begin operations in early 2020. The credit union will offer traditional banking products and services, but will also tailor products and services to the specific needs of the LGBTQ community. De Novo State Regulator MORE
Plinqit was developed by Ann Arbor-based startup HT Mobile Apps (HTMA), which confirmed on Monday that it added Bank Michigan […]. MORE
1-10 survey of American consumers by the University of Michigan show an unexpected upturn, with respondents anticipating larger income gains and lower inflation during the year ahead, the University of Michigan reported on Friday (Oct. The preliminary results of an Oct. MORE
Branch banking Growth strategies Branch management MichiganCredit unions and banks in the Great Lakes State could soon offer driver's license renewal and related services. MORE
MiCommunity Bancorp would be the first bank to open in Michigan in 10 years. Community banking De novo banks Financial regulations Michigan MORE
Community banking M&A Reverse mortgages Mortgage applications Wholesale lenders MichiganUniversity Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending. MORE
Lake Michigan Credit Union (Grand Rapids, MI) announced that it has finalized its merger with Encore Bank (Naples, FL). Both state and federal regulators approved the merger last week. Terms remain undisclosed. Read the story. Bank Credit Union Mergers Bank-Credit Union Transaction MORE
Michigan has approved a charter for a new financial institution designed for LGBT customers. Banking banking charter Credit Union discrimination LGBT michigan News Superbia What's Hot MORE
Lake Michigan Credit Union (Grand Rapids, MI) has announced that it will acquire Encore Bank (Naples, FL). Lake Michigan Credit Union has $5.2 billion in assets. Encore Bank has $418 million in assets and 6 offices. The agreement has been approved by the board of directors of each organization. The acquisition is expected to be completed in the first quarter of 2018, pending state and federal regulator approvals. MORE
Trusts Federal credit unions Collaboration Licenses and charters CUSOs MichiganCredit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services. MORE
It’s all “nice, local, Michigan-made food products,” Founder Cory Wright told PYMNTS in an interview. The big draw, Wright said, is that someone has to have some type of allegiance to Michigan. Retail ecommerce gift boxes gifts michigan Mitten Crate News subscriptions MORE
The Michigan company was caught off guard by CEO David Ramaker's decision to retire. Community banking Succession planning Growth strategies MichiganFortunately, Chemical had retained Talmer Bancorp CEO David Provost after buying his bank a year earlier. MORE
The post Michigan Bankers, Local Newsrooms Work Together to Promote Banking appeared first on ABA Banking Journal. Through a TV news partnership, one state bankers association is raising public awareness about what banks do, the safety they provide and the support they give their communities. MORE
Fentura Financial in Fenton, Mich., is the latest banking company to outline plans to sell common stock. breaking_news dealmaking-strategy mi community-banking MORE
The company is gaining heft in Michigan's Upper Peninsula with its $34 million purchase of First Federal of Northern Michigan. Community banking M&A Capital Growth strategies Michigan MORE
The Michigan Department of Insurance and Financial Services issued an order authorizing all Michigan-state chartered credit unions to invest, without limitation, in the obligations of government sponsored enterprises (GSEs) as long as it is in a safe and sound manner. This places Michigan chartered credit unions at a competitive disadvantage. MORE
Community banking IPOs Capital Growth strategies MichiganThe company said it could raise up to $25 million through the initial public offering. MORE
Community banking AML Corporate governance OCC MichiganSterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity. MORE
Community banking Deposits New Jersey MichiganBoth proposals aim to establish institutions that would be modeled after Bank of North Dakota, the nation's only public bank. MORE
Lake Michigan Credit Union’s deal for Encore Bank would give it a total of 10 branches on the Florida Gulf Coast. M&A Credit unions Community banking Florida Michigan MORE
Lake Michigan Credit Union (Grand Rapids, MI) has entered into a purchase and assumption agreement to buy the Rochester Hills (MI) branch of CCF Bank, the subsidiary of Citizens Community Bancorp (Eau Claire, WI). Lake Michigan CU has agreed to pay a 7 percent deposit premium or approximately $2.45 MORE
Read more » The post Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan appeared first on CU Direct Blog. Consumers Credit Union wanted more – much more – out of its indirect auto lending program. MORE
Chemical CEO David Ramaker has a wide range of options — diversify business lines, expand organically in several Midwestern states, pursue M&A or all of the above — following his recent acquisition of Talmer. But new challenges accompany Chemical's higher profile, too. MORE
The Michigan Department of Insurance and Financial Services liquidated the Metropolitan Church of God Credit Union of Detroit and appointed the National Credit Union Administration as liquidating agent. The Michigan Department of Insurance and Financial Services made the decision to liquidate the Metropolitan Church of God Credit Union and discontinue its operations after determining the credit union was insolvent and had no prospect for restoring viable operations. MORE
has agreed to buy West Michigan Bank & Trust in Frankfort. West Shore Bank Corp. in Ludington, Mich., breaking_news community-banking m-a mi dealmaking-strategy MORE
The Michigan company disclosed that an unnamed client made a large payment on a $6.5 Community banking Commercial lending Credit quality Michiganmillion nonperforming loan. MORE
Community banking Succession planning Growth strategies MichiganTom Lopp will succeed Gary Judd at the end of November. MORE
Community banking Capital markets Bank stocks MichiganNorthpointe Bancshares sold stock to an affiliate of Castle Creek Capital. MORE
The Michigan Department of Insurance and Financial Services granted regulatory approval to the formation of limited purpose bank, Credit Union Trust, to provide trust services to credit union members. Credit Union Trust plans to open late in the first quarter of 2019 and will be headquartered in Farmington Hills, Michigan. Credit Union Trust will operate as both a credit union service organization (CUSO) and a Michigan limited purpose bank. MORE
Earlier this week a Federal District Court in Michigan held that a blind person had the right to sue a credit union she claims has an inaccessible website even though she is not eligible for membership. It appears that reports of the demise of ADA website litigation have been greatly exaggerated. MORE
The Michigan company sold collateral tied to Live Well, a mortgage company that has filed for bankruptcy protection. Community banking Mortgage brokers Credit quality Commercial lending Michigan MORE
office to Lake Michigan Credit Union. Branch management Branch network Branch deals Community banking Credit unions MichiganCitizens Community Bancorp is selling its Rochester Hills, Mich., MORE
Community banking M&A Commercial lending Michigan IndianaThe Indiana credit union agreed to pay $21.3 million in cash for New Bancorp, which was created when its savings bank converted to a stock-owned company in 2015. MORE
MiCommunity Bancorp, which will be Michigan's first new bank since the financial crisis, raised $30 million in initial capital. Community banking De novo institutions Capital Michigan MORE
Michigan on Monday approved a charter for a new financial institution designed for lesbian, gay, bisexual and transgender customers, clearing the way for online service to begin early in 2020. LGBTQ Consumer lending Michigan MORE
Community banking M&A Capital Indiana MichiganThe Indiana company will pay $92 million for Wolverine Bancorp. MORE
Michigan Attorney General Bill Schuette said Hayes pleaded guilty in a state court last week to 13 felonies, which included embezzlement, computer crime and racketeering. The post Former Michigan CEO admits embezzlement appeared first on CUInsight. MORE
Community banking Deposits Recruiting MichiganThe bank, which would be only the second to call the Motor City home, would hire 500 people there while maintaining most of its workforce in Midland. MORE
Michigan Related Topics 
PYMNTS
OCTOBER 11, 2019
1-10 survey of American consumers by the University of Michigan show an unexpected upturn, with respondents anticipating larger income gains and lower inflation during the year ahead, the University of Michigan reported on Friday (Oct. The preliminary results of an Oct.
PYMNTS
SEPTEMBER 19, 2019
It’s all “nice, local, Michigan-made food products,” Founder Cory Wright told PYMNTS in an interview. The big draw, Wright said, is that someone has to have some type of allegiance to Michigan. Retail ecommerce gift boxes gifts michigan Mitten Crate News subscriptions
PYMNTS
SEPTEMBER 10, 2019
Michigan has approved a charter for a new financial institution designed for LGBT customers. Banking banking charter Credit Union discrimination LGBT michigan News Superbia What's Hot
PYMNTS
DECEMBER 12, 2016
9), Michigan became the first state in the union to pass statewide, comprehensive self-driving vehicle regulations that allow autonomous vehicles to drive … well, autonomously. Michigan, the legacy home of the nation’s auto industry, now leads the nation in autonomous vehicle policy, says Recode — ahead of Florida, California and a few others with some current legislation. As of now, only motor vehicle manufacturers can operate self-driving car networks in Michigan.
BankThink
OCTOBER 18, 2019
Community banking Succession planning Growth strategies MichiganTom Lopp will succeed Gary Judd at the end of November.
BankThink
NOVEMBER 4, 2019
Branch banking Growth strategies Branch management MichiganCredit unions and banks in the Great Lakes State could soon offer driver's license renewal and related services.
BankThink
SEPTEMBER 9, 2019
Michigan on Monday approved a charter for a new financial institution designed for lesbian, gay, bisexual and transgender customers, clearing the way for online service to begin early in 2020. LGBTQ Consumer lending Michigan
BankThink
JUNE 4, 2019
Community banking Capital markets Bank stocks MichiganNorthpointe Bancshares sold stock to an affiliate of Castle Creek Capital.
BankThink
MAY 20, 2019
Trusts Federal credit unions Collaboration Licenses and charters CUSOs MichiganCredit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services.
CU Direct
FEBRUARY 15, 2019
Read more » The post Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan appeared first on CU Direct Blog. Consumers Credit Union wanted more – much more – out of its indirect auto lending program.
BankThink
DECEMBER 3, 2018
office to Lake Michigan Credit Union. Branch management Branch network Branch deals Community banking Credit unions MichiganCitizens Community Bancorp is selling its Rochester Hills, Mich.,
ABA Community Banking
JUNE 12, 2019
The post Michigan Bankers, Local Newsrooms Work Together to Promote Banking appeared first on ABA Banking Journal. Through a TV news partnership, one state bankers association is raising public awareness about what banks do, the safety they provide and the support they give their communities.
BankThink
APRIL 15, 2019
MiCommunity Bancorp, which will be Michigan's first new bank since the financial crisis, raised $30 million in initial capital. Community banking De novo institutions Capital Michigan
BankThink
JUNE 24, 2019
Community banking AML Corporate governance OCC MichiganSterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.
Keith Leggett's Credit Union Watch
SEPTEMBER 10, 2019
Multiple news outlets are reporting that Michigan Department of Insurance and Financial Services has approved a charter for a credit union serving the LGBTQ community. The credit union, Superbia, expects to begin operations in early 2020. The credit union will offer traditional banking products and services, but will also tailor products and services to the specific needs of the LGBTQ community. De Novo State Regulator
BankThink
MARCH 23, 2019
Community banking M&A Reverse mortgages Mortgage applications Wholesale lenders MichiganUniversity Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.
BankThink
OCTOBER 4, 2018
MiCommunity Bancorp would be the first bank to open in Michigan in 10 years. Community banking De novo banks Financial regulations Michigan
BankThink
JANUARY 24, 2018
Community banking Deposits New Jersey MichiganBoth proposals aim to establish institutions that would be modeled after Bank of North Dakota, the nation's only public bank.
BankThink
JANUARY 17, 2018
The company is gaining heft in Michigan's Upper Peninsula with its $34 million purchase of First Federal of Northern Michigan. Community banking M&A Capital Growth strategies Michigan
BankThink
MARCH 23, 2018
Community banking IPOs Capital Growth strategies MichiganThe company said it could raise up to $25 million through the initial public offering.
BankThink
AUGUST 8, 2017
Lake Michigan Credit Union’s deal for Encore Bank would give it a total of 10 branches on the Florida Gulf Coast. M&A Credit unions Community banking Florida Michigan
BankThink
JULY 25, 2018
Community banking Deposits Recruiting MichiganThe bank, which would be only the second to call the Motor City home, would hire 500 people there while maintaining most of its workforce in Midland.
BankThink
JUNE 14, 2017
Community banking M&A Capital Indiana MichiganThe Indiana company will pay $92 million for Wolverine Bancorp.
Bank Innovation
AUGUST 19, 2019
Plinqit was developed by Ann Arbor-based startup HT Mobile Apps (HTMA), which confirmed on Monday that it added Bank Michigan […].
Keith Leggett's Credit Union Watch
SEPTEMBER 7, 2019
Michigan State University Federal Credit Union (East Lansing, MI) is planning to construct a three-story administrative building in Auburn Hills, Michigan. According to The Oakland Press, the City Council recently approved the multi-million dollar project. The new facility will become the regional office for $4.5 billion credit union and will house support services, such a a call center, IT help desk and human resources.
New York's State of Mind
JULY 27, 2018
Earlier this week a Federal District Court in Michigan held that a blind person had the right to sue a credit union she claims has an inaccessible website even though she is not eligible for membership. It appears that reports of the demise of ADA website litigation have been greatly exaggerated.
BankThink
JUNE 21, 2017
The Michigan company was caught off guard by CEO David Ramaker's decision to retire. Community banking Succession planning Growth strategies MichiganFortunately, Chemical had retained Talmer Bancorp CEO David Provost after buying his bank a year earlier.
BankThink
NOVEMBER 9, 2017
Community banking IPOs Capital Branch network Michigan California New York WashingtonMost of Sterling Bancorp's operations are in San Francisco and Los Angeles. The company plans to use some of the $93 million it will raise to expand in New York and Seattle.
Keith Leggett's Credit Union Watch
DECEMBER 4, 2018
Lake Michigan Credit Union (Grand Rapids, MI) has entered into a purchase and assumption agreement to buy the Rochester Hills (MI) branch of CCF Bank, the subsidiary of Citizens Community Bancorp (Eau Claire, WI). Lake Michigan CU has agreed to pay a 7 percent deposit premium or approximately $2.45
CU Insight
NOVEMBER 17, 2015
To get a little proof in the puddin’, we invited Michigan Credit Union League President & CEO Dave Adams on the program to share how well Michigan credit unions have performed in 2015. In fact, Michigan credit unions have had their highest performance in more than 20 years.
BankThink
AUGUST 13, 2019
The Michigan company will pay $68 million to expand in a high-priority market. Community banking M&A Growth strategies Capital Michigan
American Banker
DECEMBER 28, 2016
Chemical CEO David Ramaker has a wide range of options — diversify business lines, expand organically in several Midwestern states, pursue M&A or all of the above — following his recent acquisition of Talmer. But new challenges accompany Chemical's higher profile, too.
BankThink
SEPTEMBER 18, 2019
The company will pay $42 million in cash for the parent of Main Street Bank in southeastern Michigan. Community banking M&A Growth strategies Michigan
Keith Leggett's Credit Union Watch
OCTOBER 24, 2018
The Michigan Department of Insurance and Financial Services issued an order authorizing all Michigan-state chartered credit unions to invest, without limitation, in the obligations of government sponsored enterprises (GSEs) as long as it is in a safe and sound manner. This places Michigan chartered credit unions at a competitive disadvantage.
Keith Leggett's Credit Union Watch
DECEMBER 3, 2014
The Michigan Department of Insurance and Financial Services liquidated the Metropolitan Church of God Credit Union of Detroit and appointed the National Credit Union Administration as liquidating agent. The Michigan Department of Insurance and Financial Services made the decision to liquidate the Metropolitan Church of God Credit Union and discontinue its operations after determining the credit union was insolvent and had no prospect for restoring viable operations.
Keith Leggett's Credit Union Watch
NOVEMBER 7, 2018
The Michigan Department of Insurance and Financial Services granted regulatory approval to the formation of limited purpose bank, Credit Union Trust, to provide trust services to credit union members. Credit Union Trust plans to open late in the first quarter of 2019 and will be headquartered in Farmington Hills, Michigan. Credit Union Trust will operate as both a credit union service organization (CUSO) and a Michigan limited purpose bank.
American Banker
DECEMBER 2, 2016
Fentura Financial in Fenton, Mich., is the latest banking company to outline plans to sell common stock. breaking_news dealmaking-strategy mi community-banking
BankThink
SEPTEMBER 20, 2019
The Michigan company sold collateral tied to Live Well, a mortgage company that has filed for bankruptcy protection. Community banking Mortgage brokers Credit quality Commercial lending Michigan
Keith Leggett's Credit Union Watch
AUGUST 8, 2017
Lake Michigan Credit Union (Grand Rapids, MI) has announced that it will acquire Encore Bank (Naples, FL). Lake Michigan Credit Union has $5.2 billion in assets. Encore Bank has $418 million in assets and 6 offices. The agreement has been approved by the board of directors of each organization. The acquisition is expected to be completed in the first quarter of 2018, pending state and federal regulator approvals.
BankThink
AUGUST 9, 2019
The Michigan company disclosed that an unnamed client made a large payment on a $6.5 Community banking Commercial lending Credit quality Michiganmillion nonperforming loan.
American Banker
APRIL 14, 2016
has agreed to buy West Michigan Bank & Trust in Frankfort. West Shore Bank Corp. in Ludington, Mich., breaking_news community-banking m-a mi dealmaking-strategy
Keith Leggett's Credit Union Watch
APRIL 23, 2018
Lake Michigan Credit Union (Grand Rapids, MI) announced that it has finalized its merger with Encore Bank (Naples, FL). Both state and federal regulators approved the merger last week. Terms remain undisclosed. Read the story. Bank Credit Union Mergers Bank-Credit Union Transaction
CU Insight
FEBRUARY 20, 2018
Michigan Attorney General Bill Schuette said Hayes pleaded guilty in a state court last week to 13 felonies, which included embezzlement, computer crime and racketeering. The post Former Michigan CEO admits embezzlement appeared first on CUInsight.
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