Overview
- TickerMBWM on Nasdaq1
- IndustryState Commercial Banks1
- HeadquartersGrand Rapids, Michigan1
- Incorporated inMI2
- Business address310 Leonard Street Nw, Grand Rapids, Mi 495042
- Filer categoryLarge accelerated filer2
- Legal formCorporation
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Mercantile Bank Corporation is a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the “Bank Holding Company Act”). Unless the text clearly suggests otherwise, references to “us,” “we,” “our,” or “the company” include Mercantile Bank Corporation and its wholly owned subsidiaries. As a bank holding company, we are subject to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”). We were organized on July 15, 1997, under the laws of the State of Michigan, primarily for the purpose of holding all of the stock of Mercantile Bank, and of such other subsidiaries as we may acquire or establish. Mercantile Bank commenced business on December 15, 1997. During the third quarter of 2013, we filed an election to become a financial holding company, which election became effective April 14, 2014. Mercantile Insurance Cent…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Credit and Debit Card brought in 39% of the revenue MERCANTILE BANK CORP broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Credit and Debit Card | $8.9M | $8.8M | $9.2M |
| Service Charges on Deposit and Sweep Accounts | $5.0M | $6.8M | $8.1M |
| Payroll Processing | $2.5M | $3.1M | $3.5M |
| Interest Rate Swap Fees | $3.9M | $3.2M | $2.0M |
| Customer Service | $801.0K | $797.0K | $876.0K |
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Loans, including fees | $291.4M | $291.9M | $252.4M |
| Securities, taxable | $17.5M | $9.9M | $7.6M |
| Securities, tax-exempt | $5.0M | $4.1M | $3.7M |
| Interest-earning deposits | $16.3M | $15.5M | $7.7M |
| Total interest income | $330.2M | $321.5M | $271.4M |
| Deposits | $102.5M | $101.4M | $55.4M |
| Short-term borrowings | $7.5M | $7.7M | $2.8M |
| Federal Home Loan Bank advances | $11.4M | $13.0M | $11.4M |
| Subordinated debentures and other borrowings | $7.8M | $8.3M | $8.2M |
| Total interest expense | $129.2M | $130.4M | $77.8M |
| Net interest income | $201.0M | $191.1M | $193.5M |
| Provision for credit losses | $3.2M | $7.4M | $7.7M |
| Net interest income after provision for credit losses | $197.8M | $183.7M | $185.8M |
| Mortgage banking activities | $13.0M | $12.3M | $7.6M |
| Earnings on bank owned life insurance | $3.3M | $2.6M | $1.5M |
| Other income | $2.5M | $3.6M | $2.7M |
| Total noninterest income | $41.6M | $40.4M | $32.1M |
| Salaries and benefits | $83.2M | $77.9M | $68.8M |
| Data processing | $15.3M | $13.8M | $11.6M |
| Occupancy | $8.5M | $8.6M | $9.2M |
| Furniture and equipment rent, depreciation and maintenance | $3.4M | $3.7M | $3.5M |
| FDIC insurance costs | $2.7M | $2.5M | $2.3M |
| Advertising | $1.7M | $1.6M | $1.6M |
| Charitable foundation contributions | $1.1M | $1.7M | $666.0K |
| Acquisition costs | $1.8M | $0 | $0 |
| Other expense | $18.4M | $15.9M | $17.8M |
| Total noninterest expense | $136.0M | $125.8M | $115.3M |
| Income before federal income tax expense | $103.5M | $98.3M | $102.7M |
| Federal income tax expense | $14.7M | $18.7M | $20.5M |
| Net income | $88.8M | $79.6M | $82.2M |
| Basic (in dollars per share) | $5.47 | $4.93 | $5.13 |
| Diluted (in dollars per share) | $5.47 | $4.93 | $5.13 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $54.8M | $57.0M | ||
| Interest-earning deposits | $418.6M | $336.0M | ||
| Total cash and cash equivalents | $473.3M | $393.0M | ||
| Securities available for sale | $1.1B | $730.4M | ||
| Mortgage loans held for sale | $17.2M | $15.8M | ||
| Loans | $4.8B | $4.6B | ||
| Allowance for credit losses | -$58.2M | -$54.5M | -$49.9M | -$42.2M |
| Loans, net | $4.8B | $4.5B | ||
| Premises and equipment, net | $62.5M | $53.4M | ||
| Bank owned life insurance | $105.3M | $93.8M | ||
| Goodwill | $72.7M | $49.5M | ||
| Core deposit intangible | $20.4M | $0 | ||
| Other Assets | $218.0M | $169.9M | ||
| Total assets | $6.8B | $6.1B | ||
| Noninterest-bearing | $1.3B | $1.3B | ||
| Interest-bearing | $3.9B | $3.4B | ||
| Total deposits | $5.3B | $4.7B | ||
| Securities sold under agreements to repurchase | $232.3M | $121.5M | ||
| Federal Home Loan Bank advances | $326.2M | $387.1M | ||
| Subordinated debentures | $51.0M | $50.3M | ||
| Subordinated notes | $89.7M | $89.3M | ||
| Accrued interest and other liabilities | $96.7M | $121.0M | ||
| Total liabilities | $6.1B | $5.5B | ||
| Preferred stock, no par value; 1,000,000 shares authorized; 0 shares outstanding at December 31, 2025 and December 31, 2024 | $0 | $0 | ||
| Common stock, no par value; 40,000,000 shares authorized; 17,181,096 shares outstanding at December 31, 2025 and 16,146,374 shares outstanding at December 31, 2024 | $349.4M | $299.7M | ||
| Retained earnings | $399.4M | $334.6M | ||
| Accumulated other comprehensive gain/(loss) | -$24.0M | -$49.8M | -$50.5M | |
| Total shareholders equity | $724.9M | $584.5M | $522.1M | $441.4M |
| Total liabilities and shareholders equity | $6.8B | $6.1B | ||
| Preferred stock, par value (in dollars per share) | $0 | $0 | ||
| Preferred stock, shares authorized (in shares) | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0 | $0 | ||
| Common stock, shares authorized (in shares) | 40.0M shares | 40.0M shares | ||
| Common stock, shares outstanding (in shares) | 17.2M shares | 16.1M shares | ||
| Common stock, shares issued (in shares) | 17.2M shares | 16.1M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $54.8M | $57.0M | ||
| Interest-earning deposits | $418.6M | $336.0M | ||
| Total cash and cash equivalents | $473.3M | $393.0M | ||
| Securities available for sale | $1.1B | $730.4M | ||
| Mortgage loans held for sale | $17.2M | $15.8M | ||
| Loans | $4.8B | $4.6B | ||
| Allowance for credit losses | -$58.2M | -$54.5M | -$49.9M | -$42.2M |
| Loans, net | $4.8B | $4.5B | ||
| Premises and equipment, net | $62.5M | $53.4M | ||
| Bank owned life insurance | $105.3M | $93.8M | ||
| Goodwill | $72.7M | $49.5M | ||
| Core deposit intangible | $20.4M | $0 | ||
| Other Assets | $218.0M | $169.9M | ||
| Total assets | $6.8B | $6.1B | ||
| Noninterest-bearing | $1.3B | $1.3B | ||
| Interest-bearing | $3.9B | $3.4B | ||
| Total deposits | $5.3B | $4.7B | ||
| Securities sold under agreements to repurchase | $232.3M | $121.5M | ||
| Federal Home Loan Bank advances | $326.2M | $387.1M | ||
| Subordinated debentures | $51.0M | $50.3M | ||
| Subordinated notes | $89.7M | $89.3M | ||
| Accrued interest and other liabilities | $96.7M | $121.0M | ||
| Total liabilities | $6.1B | $5.5B | ||
| Preferred stock, no par value; 1,000,000 shares authorized; 0 shares outstanding at December 31, 2025 and December 31, 2024 | $0 | $0 | ||
| Common stock, no par value; 40,000,000 shares authorized; 17,181,096 shares outstanding at December 31, 2025 and 16,146,374 shares outstanding at December 31, 2024 | $349.4M | $299.7M | ||
| Retained earnings | $399.4M | $334.6M | ||
| Accumulated other comprehensive gain/(loss) | -$24.0M | -$49.8M | -$50.5M | |
| Total shareholders equity | $724.9M | $584.5M | $522.1M | $441.4M |
| Total liabilities and shareholders equity | $6.8B | $6.1B | ||
| Preferred stock, par value (in dollars per share) | $0 | $0 | ||
| Preferred stock, shares authorized (in shares) | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0 | $0 | ||
| Common stock, shares authorized (in shares) | 40.0M shares | 40.0M shares | ||
| Common stock, shares outstanding (in shares) | 17.2M shares | 16.1M shares | ||
| Common stock, shares issued (in shares) | 17.2M shares | 16.1M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $88.8M | $79.6M | $82.2M |
| Depreciation and amortization | $5.8M | $10.5M | $11.5M |
| Provision for credit losses | $3.2M | $7.4M | $7.7M |
| Deferred income tax expense (benefit) | $2.1M | -$397.0K | -$2.0M |
| Stock-based compensation expense | $3.5M | $3.3M | $3.4M |
| Stock grants to directors for retainer fees | $444.0K | $423.0K | $350.0K |
| Proceeds from sales of mortgage loans held for sale | $435.1M | $384.8M | $196.2M |
| Origination of mortgage loans held for sale | -$423.9M | -$370.2M | -$204.7M |
| Net gain on sales of mortgage loans held for sale | -$12.6M | -$11.8M | -$6.5M |
| Loss from sale of mortgage loans | $0 | $112.0K | $0 |
| Net gain from sales and valuation write-downs of foreclosed assets | $0 | -$290.0K | -$419.0K |
| Net (gain) loss from sale and write-downs on former bank premises | $0 | -$83.0K | $2.0K |
| Net loss from sales and disposals of premises and equipment | $24.0K | $13.0K | $471.0K |
| Earnings on bank owned life insurance | -$3.3M | -$2.6M | -$1.5M |
| Net (gain) loss on instruments designated at fair value and related derivatives | $63.0K | -$203.0K | $257.0K |
| Accrued interest receivable | -$130.0K | -$1.6M | -$4.3M |
| Change in other assets | -$59.1M | -$25.8M | -$30.2M |
| Change in other liabilities | -$22.0M | $27.9M | $14.3M |
| Net cash from operating activities | $18.0M | $101.1M | $66.6M |
| Purchases of securities available for sale | -$203.4M | -$173.6M | -$19.9M |
| Proceeds from maturities, calls and repayments of securities available for sale | $67.3M | $61.8M | $24.1M |
| Loan originations and payments, net | -$19.2M | -$309.8M | -$387.3M |
| Proceeds from sale of mortgage loans | $0 | $9.8M | $0 |
| Net cash received from acquisition of Eastern Michigan Financial Corp. | $53.6M | $0 | $0 |
| Purchases of Federal Home Loan Bank stock | $0 | $0 | -$3.8M |
| Purchases of bank owned life insurance | $0 | -$7.0M | -$3.5M |
| Proceeds from bank owned life insurance death benefit claims | $2.8M | $1.4M | $0 |
| Purchases of premises and equipment and lease activity | -$6.8M | -$8.5M | -$6.7M |
| Proceeds from sales of former bank premises | $0 | $283.0K | $598.0K |
| Proceeds from sales of foreclosed assets | $0 | $290.0K | $531.0K |
| Net cash for investing activities | -$105.7M | -$425.4M | -$395.9M |
| Net increase in time deposits | $5.0M | $159.7M | $422.8M |
| Net (decrease) increase in all other deposits | $106.1M | $637.7M | -$234.7M |
| Net (decrease) increase in securities sold under agreements to repurchase | $110.8M | -$108.2M | $35.4M |
| Proceeds from Federal Home Loan Bank advances | $20.0M | $10.0M | $240.0M |
| Maturities of Federal Home Loan Bank advances | -$80.9M | -$90.8M | -$80.4M |
| Employee stock purchase plan | $128.0K | $50.0K | $45.0K |
| Dividend reinvestment plan | $772.0K | $810.0K | $891.0K |
| Cash dividends on common stock | -$24.0M | -$22.5M | -$21.0M |
| Net cash from financing activities | $168.0M | $586.8M | $363.1M |
| Net change in cash and cash equivalents | $80.3M | $262.5M | $33.8M |
| Interest | $129.4M | $129.2M | $72.0M |
| Federal income taxes* | $44.8M | $21.4M | $24.9M |
| Transfers from loans to foreclosed assets | $0 | $0 | $112.0K |
| Transfers from bank premises to other real estate owned | $0 | $0 | $800.0K |
No quarter-by-quarter statement was filed.
Corporate structure
MERCANTILE BANK CORP sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of MERCANTILE BANK CORP
- Wellington Management Company Filed SCHEDULE 13G on MERCANTILE BANK CORP, latest May 15, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on MERCANTILE BANK CORP, latest Mar 27, 2026 (4 filings since Nov 4, 2024)
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on MERCANTILE BANK CORP, latest Jan 21, 2026 (4 filings since Feb 8, 2022)
- BlackRock Filed SCHEDULE 13G/A on MERCANTILE BANK CORP, latest Apr 24, 2025 (5 filings since Feb 1, 2022)
- Bruce Visser Filed SC 13G/A on MERCANTILE BANK CORP, latest Feb 14, 2022
- MERCANTILE BANK CORP Grand Rapids, Michigan
- With the exception of the capital trusts, all of the subsidiaries named above were organized under the laws of the State of Michigan. The capital trusts were organized under the laws of the State of Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What MERCANTILE BANK CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $116.6M5 Dec 31, 2025 | $103.0M5 Dec 31, 2024 | +13.1% |
| Accumulated depreciation | $54.1M5 Dec 31, 2025 | $49.6M5 Dec 31, 2024 | +9.0% |
| Property and equipment, net | $62.5M5 Dec 31, 2025 | $53.4M5 Dec 31, 2024 | +16.9% |
| Operating-lease assets (leased space) | $3.9M5 Dec 31, 2025 | $4.4M5 Dec 31, 2024 | −11.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Debt securities available for sale | $1.1B5 Dec 31, 2025 | $730.4M5 Dec 31, 2024 | +50.9% |
| Deposits held (banks) | $5.3B5 Dec 31, 2025 | $4.7B5 Dec 31, 2024 | +12.5% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $72.7M5 Dec 31, 2025 | $49.5M5 Dec 31, 2024 | +46.9% |
| Finite-lived intangibles, net | $20.4M5 Dec 31, 2025 | $05 Dec 31, 2024 |
Properties, in its own words
Our headquarters is located in Mercantile Bank’s main office facility in Grand Rapids, Michigan. Mercantile Bank operates 43 banking offices primarily concentrated throughout Western and Central Michigan, most of which are full-service facilities. Mercantile Bank also has banking offices located in the metropolitan Detroit area, Traverse City, Petoskey, and Midland. Mercantile Bank has larger banking facilities in Kalamazoo, Lansing, Mt. Pleasant and West Branch. In addition, certain functions operate out of our standalone facility located in Alma. The remaining banking offices generally range in size from 1,200 to 3,200 square feet, based on the location and number of employees located at the facility. Eastern Michigan Bank operates 11 banking offices throughout Eastern Michigan, most of which are full-service facilities. All of our banking offices are owned by our banks except for ten that are rented under various operating lease agreements.
We consider our properties and equipment to be well maintained, in good operating condition and capable of accommodating current growth forecasts. However, we may choose to add branch locations to expand our presence in current markets and/or in new markets or, alternatively, to consolidate, close or relocate branches if we believe it would be beneficial to our overall performance.
Item 2 of the 10-K filed Feb 27, 2026.4
Leadership
Who has led MERCANTILE BANK CORP, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
- Chief executive officerRaymond E. Reitsma Feb 10, 2025 to now13
- Chief executive officerRobert B. Kaminski Oct 24, 2017 to Feb 20, 202414
- Chief executive officerMichael H. Price Jul 17, 2007 to Dec 13, 201615
- ChairThomas R. Sullivan Jun 3, 2014 to Aug 18, 201516
- ChairMichael H. Price Jul 17, 2007 to Dec 4, 201715
- PresidentRobert B. Kaminski Oct 24, 2017 to Feb 20, 202414
- PresidentRaymond E. Reitsma Dec 4, 2017 to now17
- PresidentMichael H. Price Apr 20, 2006 to Dec 13, 201618
- Chief financial officerCharles E. Christmas Nov 20, 2006 to now19
- Chief operating officerScott P. Setlock Jan 2, 2024 to now20
- Chief operating officerRobert T. Worthington Dec 4, 2017 to Jan 3, 202221
- Chief operating officerRobert B. Kaminski Nov 21, 2007 to Nov 18, 201622
- Chief operating officerMichael H. Price Apr 20, 2006 to Nov 17, 200618
Board members and other officers (40)
- EVP & Chief Experience OfficerTara M. Randall Jan 7, 2025 to now23
- EVP&Chief Comm Banking OfficerMark S. Augustyn Jan 10, 2025 to now24
- SVP, Human Resources DirectorBrett Hoover Jan 9, 2023 to now25
- SVP, CRO, SECRETARY, AND GCRobert T. Worthington Jan 25, 2022 to Feb 20, 202426
- EXECUTIVE VICE PRESIDENTRaymond E. Reitsma Dec 21, 2020 to Feb 20, 202427
- SVP, Human Resources DirectorLonna Wiersma May 31, 2018 to Mar 4, 202228
- Executive VP & SecretaryRobert B. Kaminski May 26, 2006 to Nov 17, 200629
- Vice PresidentJohn R. Zimmerman Nov 20, 2006 to Nov 20, 200630
- Board memberSteven Schweihofer Jan 5, 2026 to now31
- Board memberJoseph D. Jones Jan 6, 2025 to now32
- Board memberRichard D. Macdonald Jan 6, 2025 to now33
- Board memberSara A. Schmidt Jan 6, 2025 to now34
- Board memberShoran R. Williams Jan 6, 2025 to now35
- Board memberThomas D. Dickinson Jan 6, 2025 to now36
- Board memberNelson F. Sanchez Mar 12, 2024 to now37
- Board memberAmy L. Sparks Oct 16, 2023 to now38
- Board memberDavid B. Ramaker Aug 31, 2020 to now39
- Board memberMichael S. Davenport Aug 31, 2020 to now40
- Board memberRaymond E. Reitsma Jan 10, 2017 to now41
- Board memberMichelle Larabee Eldridge Dec 27, 2016 to now42
- Board memberThomas R. Sullivan Sep 28, 2015 to Nov 28, 201843
- Board memberEdward B. Grant Jun 3, 2014 to May 28, 201944
- Board memberJeff A. Gardner Jun 3, 2014 to May 27, 202245
- Board memberRobert B. Kaminski Aug 31, 2012 to now46
- Board memberJohn F. Donnelly Oct 27, 2011 to Dec 3, 201247
- Board memberKirk Agerson Oct 27, 2011 to Dec 3, 201248
- Board memberMichael D. Faas Oct 27, 2011 to Dec 3, 201249
- Board memberRichard Earl Posthumus Oct 18, 2010 to Oct 28, 201050
- Board memberBetty S. Burton Jan 29, 2007 to Jan 27, 201051
- Board memberDavid M. Cassard Jul 16, 2007 to Jun 15, 202352
- Board memberCalvin D. Murdock Jul 20, 2007 to Jan 6, 201553
- Board memberDale J. Visser Jul 20, 2007 to Feb 10, 201154
- Board memberLawrence W. Larsen Jul 23, 2007 to Dec 3, 201255
- Board memberTimothy O. Schad Sep 14, 2007 to Dec 3, 201256
- Board memberSusan K. Jones Jan 18, 2006 to Dec 3, 201257
- Board memberDoyle A. Hayes Feb 7, 2006 to Dec 3, 201258
- Board memberMichael H. Price Apr 20, 2006 to now18
- Board memberEdward J. Clark Jun 20, 2006 to Jun 3, 202059
- Board memberMerle J. Prins Nov 14, 2006 to Feb 24, 200960
- General counselRobert T. Worthington Jun 1, 2016 to Nov 18, 201661
Named in SEC Form D filings
People the company listed in its private-offering notices.
- Executive Vice President of MercantileReitsma Raymond named Jan 31, 202262
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- With the exception of the capital trusts, all of the subsidiaries named above were organized under the laws of the State of Michigan. The capital trusts were organized under the laws of the State of Delaware.3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 25, 20268-K Executive or director change63
- Jul 21, 20268-K Results of operations; Regulation FD disclosure64
- May 21, 20268-K Shareholder vote65
- Apr 21, 20268-K Results of operations; Regulation FD disclosure66
- Mar 19, 20268-K Executive or director change67
- Jan 20, 20268-K Results of operations; Regulation FD disclosure68
- Jan 20, 20268-K Results of operations; Regulation FD disclosure69
- Dec 31, 20258-K Entered a material agreement; New debt or obligation; Change to shareholders' rights70
- Dec 19, 20258-K Other events71
- Dec 17, 20258-K Other events72
- Oct 21, 20258-K Results of operations; Regulation FD disclosure73
- Jul 29, 20258-K Entered a material agreement; Results of operations; Regulation FD disclosure74
- Feb 10, 2025New chief executive Raymond E. Reitsma becomes CEO13
- Oct 24, 2017New chief executive Robert B. Kaminski becomes CEO14
- Jul 17, 2007New chief executive Michael H. Price becomes CEO15
Calendar
When it reported results
- Jul 21, 2026Reported quarterly or annual results64
- Apr 21, 2026Reported quarterly or annual results66
- Jan 20, 2026Reported quarterly or annual results68
- Jan 20, 2026Reported quarterly or annual results69
- Oct 21, 2025Reported quarterly or annual results73
- Jul 29, 2025Reported quarterly or annual results74
- Jul 22, 2025Reported quarterly or annual results75
- Apr 22, 2025Reported quarterly or annual results76
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
287 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 54 major events, 166 insider forms, 15 large holders, 2 private raises, 30 other. The latest 20:
- Sep 29, 2026S-3ASR EDGAR
- Sep 25, 20268-K EDGAR
- Jul 31, 202610-Q EDGAR
- Jul 21, 20268-K EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 27, 202611-K EDGAR
- May 27, 20264 EDGAR
- May 27, 20264 EDGAR
- May 21, 20268-K EDGAR
- May 15, 2026SCHEDULE 13G EDGAR
- May 1, 202610-Q EDGAR
- Apr 21, 20268-K EDGAR
The 287 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
51 open-market trades by officers, directors and large owners since October 2021: 20 buys and 31 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Nov 13, 2025 | PRICE MICHAEL HDirector | Sale | 4,577 | $45.84 | $209.8K | Form 4 |
| Oct 31, 2025 | Sanchez Nelson FDirector | Buy | 1,000 | $43.50 | $43.5K | Form 4 |
| Aug 18, 2025 | RAMAKER DAVID BDirector | Buy | 1,500 | $46.71 | $70.1K | Form 4 |
| Jul 29, 2025 | Williams Shoran RDirector | Buy | 200 | $47.29 | $9.5K | Form 4 |
| May 2, 2025 | KAMINSKI ROBERT BDirector | Sale | 250 | $42.85 | $10.7K | Form 4 |
| Apr 2, 2025 | KAMINSKI ROBERT BDirector | Sale | 250 | $43.14 | $10.8K | Form 4 |
| Mar 3, 2025 | KAMINSKI ROBERT BDirector | Sale | 250 | $48.11 | $12.0K | Form 4 |
| Feb 26, 2025 | Sanchez Nelson FDirector | Buy | 212 | $47.00 | $10.0K | Form 4 |
| Feb 26, 2025 | Sanchez Nelson FDirector | Sale | 100 | $47.31 | $4.7K | Form 4 |
| Feb 20, 2025 | Sanchez Nelson FDirector | Buy | 393 | $47.75 | $18.8K | Form 4 |
| Feb 19, 2025 | Sanchez Nelson FDirector | Buy | 191 | $48.00 | $9.2K | Form 4 |
| Feb 19, 2025 | MacDonald Richard DDirector | Buy | 511 | $48.92 | $25.0K | Form 4 |
| Feb 18, 2025 | Sanchez Nelson FDirector | Buy | 195 | $48.50 | $9.5K | Form 4 |
| Feb 11, 2025 | KAMINSKI ROBERT BDirector | Sale | 1,000 | $50.22 | $50.2K | Form 4 |
| Feb 6, 2025 | KAMINSKI ROBERT BDirector | Sale | 1,000 | $49.82 | $49.8K | Form 4 |
| Feb 5, 2025 | PRICE MICHAEL HDirector | Sale | 6,372 | $48.41 | $308.5K | Form 4 |
| Feb 4, 2025 | Sanchez Nelson FDirector | Buy | 189 | $47.50 | $9.0K | Form 4 |
| Feb 3, 2025 | Sanchez Nelson FDirector | Buy | 187 | $47.89 | $9.0K | Form 4 |
| Feb 3, 2025 | KAMINSKI ROBERT BDirector | Sale | 250 | $47.05 | $11.8K | Form 4 |
| Jan 31, 2025 | Williams Shoran RDirector | Buy | 123 | $49.28 | $6.1K | Form 4 |
All 51 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Wellington Management CompanySCHEDULE 13G, 1 filing May 15, 202677
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Nov 4, 2024 to Mar 27, 202678
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 4 filings Feb 8, 2022 to Jan 21, 202679
- BlackRockSCHEDULE 13G/A, 5 filings Feb 1, 2022 to Apr 24, 202580
- Bruce VisserSC 13G/A, 1 filing Feb 14, 202281
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Raymond E. Reitsma | 63 | $734.6K | $1.8M82 |
| 2025 | Executive Vice PresidentChief Financial Officer and Treasurer | $444.1K | $900.0K82 | |
| 2025 | Mark S. Augustyn | $450.2K | $892.6K82 | |
| 2025 | Scott P. Setlock | $353.1K | $697.7K82 | |
| 2025 | Brett E. Hoover | $294.2K | $557.0K82 | |
| 2024 | President and Chief Executive | $627.5K | $1.2M82 | |
| 2024 | of Mercantile, Executive VicePresident and Chief Financial | $415.0K | $676.8K82 | |
| 2024 | Executive Vice PresidentChief | $420.8K | $654.0K82 | |
| 2024 | Executive Vice President, ChiefHuman Resource Officer of | $275.0K | $415.6K82 | |
| 2023 | Officer of Mercantile and | $484.8K | $1.1M82 | |
| 2023 | Officer of Mercantile Bankand | $394.9K | $813.1K82 | |
| 2023 | Mercantile and of Mercantile | $220.0K | $434.7K82 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $90.0M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2021 | $90.0M | $90.0M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How MERCANTILE BANK CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARMERCANTILE BANK CORP1
- CIK0001042729
- Employer ID (EIN)38-33608654
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inMichigan4
- Fiscal year endsDecember 311
- Industry code (SIC)6022 State Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address310 Leonard Street Nw, Grand Rapids, MI 495041
- Phone616 406-30001
- Shares outstanding17,285,929 as of Jul 24, 202611
- Public float$730.0M as of Jun 30, 20254
- AuditorPLANTE & MORAN, PLLC, GRAND RAPIDS, MICHIGAN PCAOB ID 166; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceAug 7, 19971
- Filings1,150 in all: 4 (544), 8-K (220), 10-Q (80), SC 13G/A (44), 3 (30), 11-K (28), DEF 14A (27), 10-K (25)1
All 49 form types
S-8 (16), ARS (15), 425 (13), SC 13G (12), UPLOAD (8), 10QSB (6), CORRESP (6), S-4/A (6), 4/A (5), 424B4 (5), 5 (5), 8-K/A (5), SCHEDULE 13G/A (4), 10KSB40 (3), 424B3 (3), DEFA14A (3), S-3D (3), S-4 (3), SB-2 (3), SB-2/A (3), 8-A12G (2), EFFECT (2), PRE 14A (2), S-3 (2), 10-K405 (1), 11-K/A (1), 3/A (1), 8-A12G/A (1), D (1), D/A (1), REGDEX (1), S-2 (1), S-2/A (1), S-2MEF (1), S-3/A (1), S-3ASR (1), S-3MEF (1), S-8 POS (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Jul 31, 2026
Proxy statement (DEF 14A) Apr 2, 2026
Latest 8-K (8-K) Sep 25, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock | MBWM | Nasdaq |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks MERCANTILE BANK CORP names in Item 1A of its 10-K filed Feb 27, 2026: 31 risks under these headings, as written.4
- Risks Related to Our Business
- We are subject to interest rate risk.
- We are subject to liquidity risk.
- Unfavorable economic, geopolitical conflicts and other political conditions could adversely affect our business, financial condition or results of operations.
- Significant declines in the value of commercial real estate could adversely impact us.
- Market volatility may adversely affect us.
- Our future success is dependent on our ability to compete effectively in the highly competitive banking industry.
- Our risk management systems may fall short of their intended objectives.
- We may not be able to successfully adapt to evolving industry standards and market pressures.
- Our inability to execute or integrate potential future acquisitions successfully could impede us from realizing all of the benefits of the acquisitions, which could weaken our operations.
- The soundness of other financial institutions could adversely affect us.
- Our credit losses could increase and our allowance may not be adequate to cover actual loan losses.
The other 20 risks
- We rely heavily on our management and other key personnel, and the loss of any of them may adversely affect our operations.
- Direct and indirect effects of climate change may adversely affect us.
- Failure to meet the rapidly changing ESG expectations or standards, or achieve our ESG goals, could adversely affect our business, results of operations, financial condition or stock price.
- Changes in SOFR could adversely affect the amount of interest that accrues on SOFR-linked instruments.
- Our accounting policies and methods are the basis for how we prepare our consolidated financial statements, and they require management to make estimates about matters that are inherently uncertain.
- We continually encounter technological change, and we may have fewer resources than our competitors to continue to invest in technological improvements.
- Damage to our reputation could materially harm our business.
- We face the risk of cyber-attack to our computer systems.
- Risks Related to the Acquisition of Eastern Michigan Financial Corporation
- We may not be able to successfully integrate the business of Eastern Michigan Financial Corporation
- The integration of the acquired operations will require significant time and attention from our management team
- We may not be able to realize all of the benefits of the acquisition
- We have incurred indebtedness in connection with the acquisition
- We are in the process of converting our core processing system
- Regulatory Risks
- We are subject to significant government regulation, and any regulatory changes may adversely affect us.
- Minimum capital requirements may adversely affect our ability (and that of our banks) to pay cash dividends, reduce our profitability, or otherwise adversely affect our business, financial condition or results of operations.
- Risks Related to Our Stock
- Issuance of debt securities or sales of our common stock or other securities may dilute the value of our common stock.
- We may need to raise additional capital in the future, and such capital may not be available when needed or at all.
- Our Articles of Incorporation, By-laws, the corporate laws of the State of Michigan, and federal banking laws contain provisions that may discourage or prevent a takeover of our company and reduce any takeover premium.
- There is a limited trading market for our common stock.
- The value of securities in our investment securities portfolio may be negatively affected by disruptions in securities markets.
Legal proceedings
From time to time, we may be involved in various legal proceedings that are incidental to our business. In the opinion of management, we are not a party to any legal proceedings that are material to our financial condition, either individually or in the aggregate.
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
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- 8
- 9
- 10
- 11
- 12
- 13
- 14
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- 16SEC EDGARThomas R. Sullivan, Chair
- 17SEC EDGARRaymond E. Reitsma, President
- 18SEC EDGARMichael H. Price, President
- 19
- 20
- 21
- 22
- 23
- 24
- 25
- 26
- 27
- 28
- 29
- 30SEC EDGARJohn R. Zimmerman, Vice President
- 31SEC EDGARSteven Schweihofer, Board member
- 32SEC EDGARJoseph D. Jones, Board member
- 33SEC EDGARRichard D. Macdonald, Board member
- 34SEC EDGARSara A. Schmidt, Board member
- 35SEC EDGARShoran R. Williams, Board member
- 36SEC EDGARThomas D. Dickinson, Board member
- 37SEC EDGARNelson F. Sanchez, Board member
- 38SEC EDGARAmy L. Sparks, Board member
- 39SEC EDGARDavid B. Ramaker, Board member
- 40SEC EDGARMichael S. Davenport, Board member
- 41SEC EDGARRaymond E. Reitsma, Board member
- 42
- 43SEC EDGARThomas R. Sullivan, Board member
- 44SEC EDGAREdward B. Grant, Board member
- 45SEC EDGARJeff A. Gardner, Board member
- 46SEC EDGARRobert B. Kaminski, Board member
- 47SEC EDGARJohn F. Donnelly, Board member
- 48SEC EDGARKirk Agerson, Board member
- 49SEC EDGARMichael D. Faas, Board member
- 50SEC EDGARRichard Earl Posthumus, Board member
- 51SEC EDGARBetty S. Burton, Board member
- 52SEC EDGARDavid M. Cassard, Board member
- 53SEC EDGARCalvin D. Murdock, Board member
- 54SEC EDGARDale J. Visser, Board member
- 55SEC EDGARLawrence W. Larsen, Board member
- 56SEC EDGARTimothy O. Schad, Board member
- 57SEC EDGARSusan K. Jones, Board member
- 58SEC EDGARDoyle A. Hayes, Board member
- 59SEC EDGAREdward J. Clark, Board member
- 60SEC EDGARMerle J. Prins, Board member
- 61
- 62
- 63SEC EDGARExecutive or director change
- 64
- 65SEC EDGARShareholder vote
- 66
- 67SEC EDGARExecutive or director change
- 68
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- 71SEC EDGAROther events
- 72SEC EDGAROther events
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