Mercantile Bank
Mercantile Bank is an FDIC-insured commercial bank headquartered in Grand Rapids, MI, supervised by the FDIC, with $6.53B in total assets at Q3 2026, up 4.7% from Q3 2025, the 3rd largest of 72 banks headquartered in Michigan. It was established in 1997 and holds FDIC certificate 34598. Its CET1 capital ratio was 12.42% at Q3 2026, above regulatory requirements.
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Data as of · sourced from FFIEC call reports. How we update
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 34598
- Headquarters
- Grand Rapids, MI
- Established
- 1997
- Total assets, Q3 2026
- $6.53B
- Assets vs Q3 2025
- +4.7%
- CET1 ratio, Q3 2026
- 12.42%
- Domestic offices
- 41 branches
- Routing number
- 072413829
- Safety and soundness
- Is Mercantile Bank safe?
- Latest call report
- Q3 2026, FFIEC 041 · Mercantile Bank call report
- Holding company
- MERCANTILE BANK CORPORATION
- Asset rank in state
- 3rd of 72 in Michigan
Mercantile Bank, based in Grand Rapids, Michigan, reported $6.5 billion in assets at September 30, 2026, up 4.7% from a year earlier. It holds about two-thirds of its deposits (60%) above the FDIC insurance limit, about double the median of 31.1% for the 887 banks with $1 billion to $10 billion in assets. On the other hand, it carries problem assets equal to 1.2% of the capital and reserves that would absorb them, about a third the median of 3.9% for banks its size.
Deposits are coming in faster than loans: over the year loans rose 3.3% and deposits rose 7.7%.
As of September 30, 2026, Mercantile Bank reported a CET1 capital ratio of 12.42%, a return on assets of 1.59%, a nonperforming-loan ratio of 0.18% and a Texas ratio of 1.20%. The figures come from its call report filed with the FFIEC.
By total assets at Q3 2026, Mercantile Bank is the 3rd largest of the 72 banks headquartered in Michigan. Quarter on quarter (Q2 2026 to Q3 2026), its total assets rose 4.6% to $6.53B, loans rose 0.7% and deposits rose 5.7%. Its loan book on September 30, 2026 was led by commercial and industrial loans, at 23.7% of total loans, followed by non-owner-occupied commercial real estate loans at 21.7%. Its 40 offices in the FDIC Summary of Deposits are in 33 cities in MI; its Grand Rapids 3 offices book 34% of its branch deposits. Judged on its Q3 2026 call report, Mercantile Bank meets every capital ratio test for well capitalized.
Headquarters Profile
- Address
- 310 Leonard St Nw, Grand Rapids, MI 49504
- County
- Kent
- Metro Area
- Grand Rapids-Wyoming-Kentwood, MI
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Chicago (Region 9)
- Federal Reserve member
- No
- Federal Reserve district
- District 7, Chicago
- Fiduciary (trust) powers
- —
- Call Report form
- FFIEC 041
- Established
- December 15, 1997
- Former names
- Mercantile Bank of Michigan (2005-2022)
- Domestic offices
- 41 branches
- Employees (FTE)
- 731
- Domestic deposits
- $5.21B
- Allowance for credit losses
- $54.2M
- Net charge-offs (YTD)
- -$1.1M
- Average total assets
- $6.39B
- Average total loans
- $4.80B
- Average interest-bearing deposits
- $3.75B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- No
- FDIC-insured since
- December 15, 1997
- FDIC Cert
- 34598
- Fed RSSD
- 2608754
- SEC CIK
- 1042729 → filed by MERCANTILE BANK CORPORATION
- Website
- www.mercbank.com →
- Parent Holding Company
- MERCANTILE BANK CORPORATION (RSSD 2608763) · MBWM
Management
Senior officers at parent holding company, from SEC Form 3/4/5 disclosures
| Name | Role | Title |
|---|---|---|
| Raymond E. Reitsma | CEO | President and CEO |
| Charles E Christmas | CFO | EVP & CFO |
| Scott P Setlock | COO | EVP, COO, & SECRETARY |
| Robert T. Worthington | CRO | SVP, CRO, AND GC |
Profitability
Q3 annualizedAsset Quality
Balance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q3 income alone. The UBPR and FDIC annualize the year to date instead. How we compute these figures
Quarterly trends
From Q4 2023 to Q3 2026, Mercantile Bank's total assets ranged from $5.31B (Q4 2023) to $6.53B (Q3 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q3 2026 with Q3 2025. How these charts are built
$6.53B total assets against $6.23B; $5.82B total liabilities against $5.50B.
$4.73B net loans and leases against $4.57B; $5.21B total deposits against $4.84B.
$933.7M securities against $855.1M; $522.9M cash and balances due against $477.0M.
$84.4M total interest income against $85.6M; $27.3M total interest expense against $31.9M.
$57.1M net interest income against $53.7M.
$11.8M total noninterest income against $10.3M; $36.9M total noninterest expense against $32.2M.
$1.2M provision for credit losses against $456K.
$25.5M net income against $26.6M.
1.59% return on assets against 1.70%; 3.76% net interest margin against 3.62%.
12.42% CET1 capital ratio against 13.17%; 11.56% tier 1 leverage ratio against 11.75%.
Inside the full Mercantile Bank terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeWatch flags
Automated conditions triggered on this bank's latest filing. Advisory only; see the source metric pages for full context. Each flag is tagged Regulatory when it cites an official supervisory threshold, or BRR analysis when it's our own band, informed by our data and models.
More than half of deposits are uninsured (above the $250K FDIC threshold). Worth understanding the depositor concentration in stressed scenarios. BankRegReports early-warning band.
Commercial real estate loans are between 200% and 300% of total capital. The 200% line is a BankRegReports watch band, not a supervisory threshold; the 2006 interagency guidance level is 300%. BankRegReports early-warning band below the 300% guidance.
Mercantile Bank rankings
Its closest position to the top of a national ranking is 36 of 973, for uninsured deposits; its furthest is 1,516 of 2,021, for CET1 ratio.
Quarterly trend: last 8 quarters
From Q4 2024 to Q3 2026, its return on assets ran from 1.43% (Q4 2024) to 1.70% (Q3 2025) and its net interest margin ran from 3.50% (Q1 2026) to 3.76% (Q3 2026).
| Quarter | CET1 | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q3 2026 | 12.42% | 1.59% | 0.18% | 1.20% | 3.76% |
| Q2 2026 | 12.59% | 1.70% | 0.10% | 0.61% | 3.56% |
| Q1 2026 | 12.78% | 1.52% | 0.15% | 0.91% | 3.50% |
| Q4 2025 | 12.77% | 1.58% | 0.15% | 0.91% | 3.56% |
| Q3 2025 | 13.17% | 1.70% | 0.21% | 1.29% | 3.62% |
| Q2 2025 | 12.82% | 1.67% | 0.21% | 1.31% | 3.57% |
| Q1 2025 | 12.94% | 1.48% | 0.12% | 0.74% | 3.53% |
| Q4 2024 | 12.92% | 1.43% | 0.12% | 0.81% | 3.54% |
Swipe the table sideways to see every column.
Branch Network
View all 40 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Mercantile Bank (main office) | Grand Rapids , MI | 49504 | $1.37B |
| Kalamazoo Branch | Kalamazoo , MI | 49007 | $369.8M |
| Lansing Branch | East Lansing , MI | 48823 | $272.0M |
| West M20 Branch | Mount Pleasant , MI | 48858 | $239.2M |
| Wyoming Branch | Wyoming , MI | 49519 | $206.5M |
| Troy Branch | Troy , MI | 48084 | $193.8M |
| Forest Hills | Grand Rapids , MI | 49546 | $182.0M |
| Northtown Branch | Alma , MI | 48801 | $176.1M |
| M-76 Branch | West Branch , MI | 48661 | $169.7M |
| Southside Branch | Berlin Township , MI | 48846 | $159.9M |
| Alpine Avenue Branch | Comstock Park , MI | 49321 | $150.2M |
| Knapp Street Branch | Grand Rapids , MI | 49525 | $123.3M |
| St. Johns South Branch | Saint Johns , MI | 48879 | $103.0M |
| Clare Branch | Clare , MI | 48617 | $97.3M |
| Cadillac Branch | Cadillac , MI | 49601 | $93.8M |
| Paw Paw Branch | Paw Paw , MI | 49079 | $89.4M |
| Belding Branch | Otisco Township , MI | 48809 | $84.7M |
| Pickard Branch | Mount Pleasant , MI | 48858 | $65.0M |
| Portage Branch | Portage , MI | 49024 | $61.3M |
| Lowell Branch | Lowell , MI | 49331 | $59.1M |
| Ithaca Branch | Ithaca , MI | 48847 | $57.4M |
| Drake Road Branch | Kalamazoo , MI | 49009 | $56.8M |
| Remus Branch | Remus , MI | 49340 | $53.3M |
| Merrill Branch | Merrill , MI | 48637 | $52.0M |
| Rose City Branch | Rose City , MI | 48654 | $50.6M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| July 1, 2014 | Structure Change | Acquired FirstBank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| June 30, 2014 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 2 events.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- None against the institution on file; 1 against individuals associated with it
- Period: Most recent action November 15, 2016. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 1.6% of deposits in MI, rank 10 of 95 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 3,080 applications, 2,129 loans originated, $622.0M originated, across 8 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 4 loans, $2.2M approved, $559K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2022 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about Mercantile Bank
What are Mercantile Bank's total assets?
As of the Q3 2026 filing, Mercantile Bank reported total assets of $6.53 billion in its FFIEC call report.
Where is Mercantile Bank headquartered?
It is headquartered in Grand Rapids, MI, United States.
When was Mercantile Bank founded?
It was established in 1997, per the FDIC institution directory.
Is Mercantile Bank FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #34598). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Mercantile Bank?
Mercantile Bank's primary federal regulator is the FDIC.
What is Mercantile Bank's CET1 capital ratio?
It reported a Common Equity Tier 1 (CET1) capital ratio of 12.42% in its Q3 2026 call report, above regulatory requirements.
How many branches does Mercantile Bank operate?
It operates 41 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is Mercantile Bank's Texas Ratio?
Its Texas Ratio is 1.20% in its Q3 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures nonperforming assets against the bank's capital and reserves.
What was Mercantile Bank previously called?
The charter now named Mercantile Bank has also operated as Mercantile Bank of Michigan (2005-2022), per FDIC structure-change records.
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