Michigan University’s Consumer Survey Shows Continued Economic Rebound 

PYMNTS

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.

Giving The Gift Of Michigan With Curated Boxes

PYMNTS

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

Michigan Approves Charter For First LGBT Credit Union

PYMNTS

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

Michigan Passes Self-Driving Regulations

PYMNTS

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.

Sterling in Michigan selects next CEO

BankThink

Community banking Succession planning Growth strategies MichiganTom Lopp will succeed Gary Judd at the end of November.

Michigan bill would bring DMV services to the branch

BankThink

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.

Michigan gives green light to credit union targeting LGBT community

BankThink

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

Michigan bank raises $25 million in private placement

BankThink

Community banking Capital markets Bank stocks MichiganNorthpointe Bancshares sold stock to an affiliate of Castle Creek Capital.

Credit union group wins special purpose bank charter in Michigan

BankThink

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.

Consumers Credit Union Finds Success Blazing An “Indirect” Trail With CU Direct In Western Michigan

CU Direct

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.

Michigan credit union to buy bank branch

BankThink

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.,

Michigan Bankers, Local Newsrooms Work Together to Promote Banking

ABA Community Banking

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.

Michigan de novo surpasses capital goal, plans May opening

BankThink

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

OCC hits Michigan bank with order tied to Bank Secrecy Act compliance

BankThink

Community banking AML Corporate governance OCC MichiganSterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

Michigan Charters LGBTQ CU

Keith Leggett's Credit Union Watch

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

Michigan bank expands mortgage operations with asset purchase

BankThink

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.

Michigan de novo receives FDIC approval to open

BankThink

MiCommunity Bancorp would be the first bank to open in Michigan in 10 years. Community banking De novo banks Financial regulations Michigan

N.J., Michigan lawmakers introduce bills to create state-owned banks

BankThink

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.

Mackinac expands in northern Michigan with First Federal purchase

BankThink

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

Level One in Michigan plans IPO

BankThink

Community banking IPOs Capital Growth strategies MichiganThe company said it could raise up to $25 million through the initial public offering.

Credit union in Michigan to buy bank in Florida

BankThink

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

Michigan’s Chemical Bank to shift headquarters to Detroit

BankThink

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.

Horizon's latest acquisition to provide push into N. Michigan

BankThink

Community banking M&A Capital Indiana MichiganThe Indiana company will pay $92 million for Wolverine Bancorp.

How savings app Plinqit wants to help banks

Bank Innovation

Plinqit was developed by Ann Arbor-based startup HT Mobile Apps (HTMA), which confirmed on Monday that it added Bank Michigan […].

Michigan State University FCU to Build 3-Story Administrative Office Building

Keith Leggett's Credit Union Watch

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.

Michigan Court Rules Against Credit Unions In Ongoing ADA Litigation

New York's State of Mind

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.

Michigan bank's CEO shuffle: ‘Like losing LeBron and bringing in Curry’

BankThink

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.

Michigan bank with far-flung markets plans IPO

BankThink

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.

Lake Michigan CU to Pay $2.45 Million for Bank's Michigan Branch and Deposits

Keith Leggett's Credit Union Watch

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

How Michigan credit unions achieved highest performance in 20 years

CU Insight

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.

Level One deploys capital from IPO to buy Ann Arbor Bancorp

BankThink

The Michigan company will pay $68 million to expand in a high-priority market. Community banking M&A Growth strategies Capital Michigan

What to Do with Michigan's Biggest Bank?

American Banker

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.

Keweenaw expands closer to Detroit with deal for North Star

BankThink

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

Michigan CUs May Invest without Limitation in Obligations of GSEs

Keith Leggett's Credit Union Watch

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.

Small Michigan CU Liquidated

Keith Leggett's Credit Union Watch

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.

Michigan Regulator Approves CUSO to Provide Trust Services

Keith Leggett's Credit Union Watch

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.

Fentura in Michigan to Raise $15 Million

American Banker

Fentura Financial in Fenton, Mich., is the latest banking company to outline plans to sell common stock. breaking_news dealmaking-strategy mi community-banking

Flagstar to record recovery from troubled commercial loan

BankThink

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

Lake Michigan CU to Purchase Encore Bank

Keith Leggett's Credit Union Watch

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.

Tampa 40

Level One expects 3Q profit boost from nonperforming loan payment

BankThink

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.

West Shore Bank to Buy West Michigan Bank

American Banker

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

Lake Michigan CU Finalizes Merger with Encore Bank

Keith Leggett's Credit Union Watch

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

Former Michigan CEO admits embezzlement

CU Insight

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.