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 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 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 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 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 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).
Robert Kaminski retired as President/CEO effective June 1, 2024; remains a director of Mercantile and Bank.
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 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 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%.
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%.
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 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 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).
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