Grand River Commerce, Inc. announced that it has received $14.4 million in funding
May 02, 2017
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On May 2, 2017, Grand River Commerce, Inc. (OTCPK:GNRV) closed the transaction. The company has issued 2,618,181 shares at $5.5 per share for gross proceeds of $14,399,995.5 from 87 investors. The company has received $1,405,406 in the second tranche.
Grand River Commerce, Inc. is a holding company. The Company operates through its subsidiary, Grand River Bank (the Bank). The Bank is a full-service commercial bank, serving the communities of Grandville, Grand Rapids and the surrounding areas in Kent and Ottawa counties in Michigan, offering a range of commercial and consumer banking services to businesses, professionals, and residents. The Bankâs primary deposit products are interest and noninterest-bearing checking accounts, savings accounts and time deposits and its primary lending products are real estate mortgages, commercial and consumer loans. The majority of the Bankâs loan portfolio is comprised of commercial real estate and commercial and industrial loans. Grand River Mortgage Company, LLC (GRMC) is a wholly owned subsidiary of the Bank, which is a direct-to-consumer national mortgage lender that has built a digital platform designed to simplify the mortgage experience.
GRAND RIVER COMMERCE, INC. 
