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FNB Michigan makes $1M affordable housing investment - Grand Rapids Business Journal


Grand Rapids Business Journal
Courtesy First National Bank of Michigan
First National Bank of Michigan is making a $1 million investment to support affordable housing development in partnership with Cinnaire and the Michigan Bankers Association Service Corporation.
The investments, announced last week, are part of First National Bank of Michigan’s (FNBM) commitment to expanding access to high-quality affordable housing, a key driver of economic mobility and family stability, the bank said.
“FNBM has partnered with Cinnaire over the past 14 years in several of these investments supporting the communities we serve,” said Dan Bitzer, the bank’s CEO.
As the Business Journal reported Dec. 7, Cinnaire and MBASC recently announced the closing of the partnership’s sixth affordable housing investment fund the largest fund in its joint history generating $16 million to support the development and rehabilitation of nine apartment communities across Michigan. ....

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First National Bank of Michigan Announces Investment in Fund to Develop Affordable Housing in Michigan Communities


First National Bank of Michigan Announces Investment in Fund to Develop Affordable Housing in Michigan Communities
Image provided by: First National Bank/2020
Cliffview
and last updated 2020-12-17 13:41:53-05
LANSING, Mich. — First National Bank of Michigan (“FNBM”) has announced a $1,000,000 investment to support affordable housing development in partnership with Cinnaire and the Michigan Bankers Association Service Corporation (MBASC). The investments are part of First National Bank of Michigan’s commitment to expanding access to high-quality affordable housing, a key driver of economic mobility and family stability.
“FNBM has partnered with Cinnaire over the past 14 years in several of these investments sup-porting the communities we serve”, said Dan Bitzer, FNBM CEO. ....

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