Highest-materiality recent filing
Mercantile Bank Q2 2026 EPS $1.50 vs $1.39 YoY; NIM 3.59%; commercial loans up 11.7% annualized
Net income $25.9M ($1.50 diluted EPS) vs $22.6M ($1.39) in Q2 2025; adjusted EPS $1.53.
Mercantile Bank shareholders vote to elect directors, ratify auditor, approve say-on-pay
All 12 director nominees elected; votes for ranged from 10,683,738 to 10,917,759.
Mercantile Bank Q1 net income $22.7M ($1.32 diluted); adjusted EPS $1.46, revenue up 18% YoY
GAAP net income $22.7M ($1.32 diluted) vs $19.5M ($1.21) a year ago; adjusted net income $25.2M ($1.46).
Mercantile Bank adopts 2026 exec bonus plan with $1.2M target pool, six metrics
Target bonus pool $1,206,725; max pool $1,810,087 (150% of target).
Mercantile Bank amends Q4 2025 earnings presentation to correct 2026 overhead and fee income slide
Amendment corrects error on slide 26: overhead costs for Q1-Q4 2026 and fee income for Q3-Q4 2026.
Mercantile Bank Q4 2025 EPS $1.40, up 15% YoY; acquires Eastern Michigan Bank with $572M assets
Net income Q4 $22.8M ($1.40 EPS) vs $19.6M ($1.22 EPS) a year ago; full year $88.8M ($5.47 EPS) vs $79.6M ($4.93 EPS).
Mercantile Bank closes merger with Eastern Michigan Financial for $32.32/share + 0.7116 shares
Merger completed Dec 31, 2025; Eastern shareholders get $32.32 + 0.7116 MBWM shares per share.
EFIN shareholders approve merger with Mercantile Bank; close expected Dec 31, 2025
At special meeting Dec 19, 2025, EFIN shareholders voted to approve merger with Mercantile Bank Corporation.
Mercantile gets final regulatory nod for Eastern Michigan merger; close set for Dec 31
Federal Reserve Bank of Chicago approved merger; all required regulatory approvals now received.
Mercantile Bank Q3 net income $23.8M ($1.46 EPS), up from $19.6M YoY; NIM stable at 3.50%
Net revenue $62.4M (+7.6% YoY) on net interest income $52.0M (+7.7%) and noninterest income $10.4M.
Mercantile Bank Corporation announces merger with Eastern Michigan Financial and Q2 2025 results
Merged with Eastern Michigan Financial Corporation in a deal valued at approximately $95.8 million.
Mercantile Bank Q2 EPS $1.39 vs $1.17; Announces $95.8M Merger with Eastern Michigan Financial
Q2 2025 net income $22.6M ($1.39 diluted EPS) vs $18.8M ($1.17) in Q2 2024; revenue $60.9M, up 7.4%.
Mercantile Bank shareholders elect all 11 directors, approve ESPP and auditor at annual meeting
All 11 director nominees elected with 9.5-9.8M votes for each; broker non-votes ~2.73M.
Mercantile Bank Q1 net income $19.5M ($1.21 EPS) down from $1.34 YoY; NII up 2.5%
Net income $19.5M ($1.21 diluted EPS) vs $21.6M ($1.34) in Q1 2024.
Mercantile Bank adopts 2025 executive bonus plan with metrics-based pool up to $1.6M
Target bonus pool $1,071,011; max $1,606,516 based on six financial metrics.
Mercantile Bank shifts 2025 executive stock grants: 35% time-based, 65% performance vs peer index
35% of 2025 restricted stock grants to executive officers will cliff vest in 3 years with no performance conditions; 65% tied to performance metrics.
Mercantile Bank Q4 net income down to $19.6M ($1.22); full-year EPS $4.93, declares higher dividend
Q4 2024 net income $19.6M ($1.22 diluted EPS) vs $20.0M ($1.25) in Q4 2023; full-year net income $79.6M ($4.93) vs $82.2M ($5.13).
Mercantile Bank expands board to 13, updates exec employment terms, names new officers
Board increased from 8 to 13; five new directors appointed effective Jan 1, 2025, including Dickinson, Jones, MacDonald, Schmidt, Williams.
Mercantile Bank adopts new deferred compensation plan for executives and directors
Adopted Nonqualified Deferred Compensation Plan #2, effective Jan 1, 2025, replacing prior plan.
Mercantile Bank Q3 2024 EPS $1.22; loans grow 10.3% annualized, deposits up 30%
Net income of $19.6M ($1.22 diluted EPS) vs $20.9M ($1.30) in Q3 2023; net revenue $58.0M.
Mercantile Bank Q2 net income $18.8M ($1.17 EPS); dividend increased
Net income $18.8M ($1.17 diluted EPS) vs $20.4M ($1.27) in Q2 2023; H1 net income $40.3M ($2.50) vs $41.3M ($2.58).
Mercantile Bank adopts 2024 executive bonus plan with $1.14M target pool
Target bonus pool $1,137,897; maximum $1,706,845 based on six performance metrics.
Robert Kaminski retired as President/CEO effective June 1, 2024; remains a director of Mercantile and Bank.
Mercantile Bank furnishes shareholder presentation for 2024 annual meeting
Presentation materials used at May 23, 2024 annual meeting; no financial results disclosed.
Mercantile Bank shareholders elect 8 directors, ratify auditor, approve say-on-pay at annual meeting
All eight director nominees elected; votes for ranged from 9.06M (Ramaker) to 9.80M (Sanchez).
Mercantile Bank Q1 net income $21.6M ($1.34 EPS); revenue up 5.2% YoY
Net income of $21.6M ($1.34 diluted EPS) vs $21.0M ($1.31) in Q1 2023.
Mercantile Bank appoints Nelson F. Sanchez to board, expanding size to nine
Board size increased from 8 to 9 members; Sanchez fills the new vacancy effective March 8, 2024.
Mercantile Bank Q4 net income $20.0M ($1.25 EPS); full-year EPS $5.13, up 33%
Q4 2023 net income $20.0M ($1.25 diluted EPS) vs $21.8M ($1.37) in Q4 2022; full-year net income $82.2M ($5.13) vs $61.1M ($3.85).
Mercantile Bank Q3 net income $20.9M ($1.30 diluted EPS) up 31% YoY; board adds two directors
Net income $20.9M ($1.30 diluted EPS) vs $16.0M ($1.01) in Q3 2022; net interest income $49.0M, up 15.5%.
Mercantile Bank announces CEO succession: Kaminski to retire June 2024, Reitsma appointed
Kaminski to retire as President and CEO effective June 1, 2024; will remain on board.
Net income $20.4M ($1.27 diluted EPS) up from $11.7M ($0.74) in Q2 2022; revenue $55.2M, +31% YoY.
Mercantile Bank Corp adopts 2023 executive bonus plan with $884,496 max pool
Maximum bonus pool of $884,496 allocated among 5 named executive officers, including CEO Robert Kaminski.
Mercantile Bank furnishes shareholder presentation for 2023 annual meeting
Presentation used at May 25, 2023 annual meeting; no specific financial details disclosed in the filing.
Mercantile Bank shareholders elect all six directors, approve 2023 incentive plan and auditor
Each of six director nominees elected with 9.2M-9.5M votes for; David Ramaker received 8.26M for, 1.45M withheld.
Mercantile Bank Q1 net income $21.0M ($1.31 EPS) vs $11.5M ($0.73) YoY; NIM expands to 4.28%
Net interest income rose 56.7% to $48.4M, driven by NIM expansion to 4.28% from 2.57%.
Director Jeff A. Gardner retires from Mercantile Bank board effective March 23, 2023
Jeff A. Gardner retired from the Boards of Mercantile Bank Corporation and its subsidiary, effective March 23, 2023.
Mercantile Bank dismisses BDO USA, appoints Plante & Moran as auditor for 2023
Dismissed BDO USA as auditor; no disagreements or reportable events in FY2021-2022
Mercantile Bank Q4 net income $21.8M, EPS $1.37; full-year EPS $3.85; dividend raised to $0.33
Q4 2022 net income $21.8M ($1.37 diluted EPS) vs $11.6M ($0.74) a year ago; net interest margin expanded to 4.30% from 2.74%.
Mercantile Bank promotes Brett Hoover to SVP, HR Director effective Jan 1, 2023
Brett Hoover, age 52, promoted from Bank's HR Director to same role at holding company effective 1/1/2023.
Net income of $16.0M ($1.01 diluted EPS) vs $15.1M ($0.95) in Q3 2021.
Net income $11.7M, EPS $0.74 vs $18.1M, $1.12 in Q2 2021; H1 net income $23.2M ($1.47) vs $32.3M ($2.00) YoY.
Mercantile Bank adopts 2022 executive bonus plan with $729,950 pool
Maximum bonus pool $729,950; payouts based on seven metrics: EPS (25%), NPA, NIM, revenue, efficiency ratio, ROA, ROE (12.5% each).
Mercantile Bank shareholders elect all seven directors, ratify auditor, approve say-on-pay
All seven director nominees elected: Cassard, Davenport, Eldridge, Gardner, Kaminski, Price, Ramaker.
Mercantile Bank furnishes shareholder presentation for 2022 annual meeting
Presentation dated May 26, 2022, furnished as Exhibit 99.1 to Form 8-K.
Mercantile Bank adjusts board committees; Price steps down per shareholder policy
Michael H. Price leaves Audit, Governance/Nominating, and Compensation Committees.
Mercantile Bank board committee changes; former CEO Price steps down from three committees
Michael H. Price resigns from Audit, Governance and Nominating, and Compensation Committees, effective immediately.
Mercantile Bank Q1 net income $11.5M ($0.73 EPS) down from $14.2M; core loans up 11% annualized
Net income $11.5M ($0.73 diluted EPS) vs $14.2M ($0.87) in Q1 2021; revenue $40.2M vs $43.0M.
Mercantile Bank SVP & HR Director Lonna Wiersma retires; Brett Hoover named successor
Lonna L. Wiersma, Senior Vice President and Human Resource Director, retired on March 4, 2022, after 23 years of service.
Mercantile Bank Q4 GAAP EPS $0.74 vs $0.87; adjusted EPS +8%; FY net income $59M up 34%
Q4 net income $11.6M ($0.74 diluted) vs $14.1M ($0.87); full year $59.0M ($3.69) vs $44.1M ($2.71).
Mercantile Bank issues additional $15M of 3.25% subordinated notes due 2032
Raised $15M additional subordinated notes, increasing total issuance to $90M from $75M.
Scott P. Setlock has been appointed as EVP, COO, and Secretary of Mercantile and as Secretary of the Bank.
Raymond E. Reitsma has resigned as Executive Vice President (“EVP”) and Chief Operating Officer (“COO”) of Mercantile, and has been appointed as President and CEO of Mercantile and CEO of the Bank.
Robert B. Kaminski, Jr. has retired as President and Chief Executive Officer (“CEO”) of Mercantile and as CEO of Mercantile’s wholly owned subsidiary, Mercantile Bank (the “Bank”).
On March 8, 2024, the Board of Directors (the "Board") of Mercantile Bank Corporation (“Mercantile”) increased its size from eight to nine members and appointed Nelson F. Sanchez to fill the vacancy.
On October 12, 2023, the Board of Directors of Mercantile (the "Board") increased its size from six to eight members and appointed Amy Sparks and Raymond Reitsma to fill the vacancies.
On October 12, 2023, the Board of Directors of Mercantile (the "Board") increased its size from six to eight members and appointed Amy Sparks and Raymond Reitsma to fill the vacancies.
Raymond E. Reitsma will be appointed to those positions effective June 1, 2024.
Robert B. Kaminski, Jr. intends to retire as President and Chief Executive Officer of Mercantile and Raymond E. Reitsma will be appointed to those positions effective June 1, 2024.
Jeff A. Gardner retired from the Board of Directors of Mercantile Bank Corporation and that of its subsidiary, Mercantile Bank (collectively, 'Mercantile'), effective March 23, 2023.
On November 17, 2022, the board of directors of Mercantile Bank Corporation (the “Company”) promoted Brett Hoover to the role of Senior Vice President, Human Resources Director of the Company.
Brett Hoover, 51, will fill the role of Human Resource Director of Mercantile Bank.
On March 4, 2022, Lonna L. Wiersma, Senior Vice President and Human Resource Director of Mercantile Bank Corporation and its wholly-owned banking subsidiary, Mercantile Bank, retired.
Max materiality 0.90 · Median 0.55 · Most common event earnings