Blandin Foundation, Trust assets rebound following recession
Wednesday, June 03, 2015
The value of financial assets held by the Blandin Foundation and Blandin Trust have almost fully rebounded since a strong hit was taken during the Great Recession, representatives told the Grand Rapids Area Chamber of Commerce at a Monday luncheon.
Combined assets held by the two units totaled $448 million in April 2006 but declined to $295 million by February 2009, said Brian Nicklason, Chairman of Investment Committee.
"It was difficult times …it was a big hit. We had a $153 million drop. Today, I’m proud to say we’re back up to $432 million,” explained Nicklason, who also is President of Woodland Bank.
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