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Bank acquires wealth management firm

July 19, 2017
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West Shore Bank branch exterior
Lundington-based West Shore Bank, founded in 1898, operates eight branches. Photo via

A wealth management firm in the region has been acquired by a bank.

Muskegon-based Ellis Capital Management, which also has an office in downtown Grand Rapids, was bought by Ludington-based West Shore Bank, the bank said this week.

The transaction allows West Shore Bank to expand its wealth management services footprint to Kent, Ottawa and Muskegon counties.

“Ellis Capital Management has a long-standing reputation for client-centered service delivered with uncompromising integrity,” West Shore President and CEO Raymond Biggs said. “Their approach to business complements the West Shore Bank brand. It’s an honor to combine our strengths under the same name.”

Founded by David Ellis in 1997, Ellis Capital’s staff will join West Shore Bank’s wealth management group.

Ellis will transition to SVP and be mostly responsible for continued growth of the Grand Rapids and Muskegon offices, which will be re-branded with the name West Shore Bank — Wealth Management.

“We’ve always coached clients to take the long view, looking beyond investment strategy to consider advanced planning,” Ellis said. “It is also the cornerstone of West Shore Bank’s wealth management philosophy.”

West Shore Bank wealth management SVP Brian Moore said Ellis “shares our resolve to provide peace of mind through advanced planning.”

Grand Rapids-based Warner Norcross & Judd advised West Shore Bank on the transaction. Ellis Capital was represented by Muskegon-based Parmenter O’Toole.

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