Mercantile Bank Corporation

MBWM.US
Financial Services · Banks - Regional
60.33
+1.71 (+2.92%)
USD · NASDAQ

Company Information

Company Name
Mercantile Bank Corporation
Sector
Financial Services
Industry
Banks - Regional
Exchange
NASDAQ
ISIN: US5873761044
CIK: 0001042729
CUSIP: 587376104
Currency: USD
Full Time Employees: 827
Phone: 616 406 3000
Fiscal Year End: December
IPO Date: Aug 07, 1997
Description:

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. The company accepts various deposit products, such as checking, savings, and term certificate accounts; time deposits; and certificates of deposit. It also provides commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans. In addition, the company offers courier services and safe deposit boxes; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

Address:

310 Leonard Street NW, Grand Rapids, MI, United States, 49504

People

Directors & Officers

Name Title Year Born
Mr. Raymond E. Reitsma President, CEO & Director 1963
Mr. Charles E. Christmas Executive VP, CFO & Treasurer 1966
Mr. Scott P. Setlock Executive VP, COO & Secretary 1982
Mr. Brett E. Hoover Executive VP & Chief Human Resource Officer 1971
Mr. Mark S. Augustyn Executive VP & Chief Commercial Banking Officer of the Mercantile Bank 1968
Sonali D. Allen Senior VP and Chief Compliance & Community Development Officer of Mercantile Bank NA
Mr. Jeff Kaiser Senior VP & Head of Risk Management Department NA
Mr. Douglas J. Holtrop Executive VP & Senior Lending Officer of Mercantile Bank NA
Ms. Tara M. Randall Executive VP & Chief Experience Officer of Mercantile Bank NA
Mr. Justin M. Karl Executive VP & Senior Lending Officer of Mercantile Bank NA

Insider Trading

Date Insider Name Title Transaction Type Shares Price Value
Oct 31, 2025 Nelson F Sanchez N/A Purchase 1.00K $43.50 $43.50K
Jul 29, 2025 Shoran R Williams N/A Purchase 200.00 $47.28 $9.46K
May 02, 2025 Robert B Kaminski N/A Sale 250.00 $42.85 $10.71K

Shareholders

Institutional Holders

Holder Name Shares Date Reported % Out Value % Change
BlackRock Inc 1.39M Mar 31, 2026 8.03% $0.00 -3.49%
Wellington Management Company LLP 1.19M Mar 31, 2026 6.88% $0.01 303.32%
Vanguard Group Inc 1.07M Dec 31, 2025 6.17% $0.00 2.64%
Dimensional Fund Advisors, Inc. 1.03M Mar 31, 2026 5.98% $0.01 0.14%
Vanguard Capital Management, LLC 704.32K Mar 31, 2026 4.07% $0.00 0.00%
American Century Companies Inc 561.47K Mar 31, 2026 3.25% $0.01 8.41%
State Street Corp 502.47K Mar 31, 2026 2.91% $0.00 12.40%
Renaissance Technologies Corp 472.21K Mar 31, 2026 2.73% $0.04 -4.84%
Geode Capital Management, LLC 435.01K Mar 31, 2026 2.52% $0.00 8.05%
NorthStar Asset Management, Inc. 383.18K Mar 31, 2026 2.22% $0.84 2.31%
LSV Asset Management 283.19K Mar 31, 2026 1.64% $0.03 -4.03%
Vanguard Portfolio Management, LLC 275.32K Mar 31, 2026 1.59% $0.00 0.00%
Northern Trust Corp 232.60K Mar 31, 2026 1.35% $0.00 39.28%
Tributary Capital Management, LLC 224.63K Mar 31, 2026 1.30% $1.10 -2.87%
Hotchkis & Wiley Capital Management LLC 191.15K Mar 31, 2026 1.11% $0.03 -5.66%
Two Sigma Investments LLC 181.65K Mar 31, 2026 1.05% $0.01 51.15%
JPMorgan Chase & Co 148.86K Mar 31, 2026 0.86% $0.00 -23.68%
AQR Capital Management LLC 146.71K Mar 31, 2026 0.85% $0.00 -8.05%
Charles Schwab Investment Management Inc 140.45K Mar 31, 2026 0.81% $0.00 5.37%
Banc Funds Co LLC 131.16K Mar 31, 2026 0.76% $1.23 0.24%

Fund Holdings

Rank Holder Name Shares Held % of Shares Change Date Reported
1 Vanguard Total Stock Mkt Idx Inv 520.14K 3.01% ▲ 0.00% Jun 30, 2026
2 Avantis US Small Cap Value ETF 513.12K 2.97% ▲ 0.04% Jun 30, 2026
3 iShares Russell 2000 ETF 480.47K 2.78% ▲ 0.59% Jun 30, 2026
4 DFA US Small Cap Value I 233.92K 1.35% ▲ 0.00% May 31, 2026
5 Vanguard Institutional Extnd Mkt Idx Tr 199.00K 1.15% ▲ 2.28% Jun 30, 2026
6 iShares Russell 2000 Value ETF 171.62K 0.99% ▼ 0.69% Jun 30, 2026
7 State Street® SPDR® S&PRgnllBkgETF 169.18K 0.98% ▲ 2.10% Jun 30, 2026
8 Fidelity Small Cap Index 166.36K 0.96% ▲ 1.02% Apr 30, 2026
9 Tributary Small Cap Equity 164.75K 0.95% ▼ 1.68% Jun 30, 2026
10 DFA US Targeted Value I 131.60K 0.76% ▲ 0.00% May 31, 2026

Financial Highlights

Market Cap: $1.01B
P/E Ratio: $10.27
PEG Ratio: $1.63
Book Value: $43.68
Dividend/Share: $1.54
Dividend Yield: 2.63%
Earnings/Share: $5.71
Profit Margin: 36.08%
Operating Margin: 46.26%
ROA (TTM): 1.47%
ROE (TTM): 13.73%
Revenue (TTM): $263.91M
Revenue/Share (TTM): $15.75
Earnings Growth (YOY): 7.90%
Revenue Growth (YOY): 18.90%

Valuation Metrics

Enterprise Value: $1.36B
Trailing P/E: 10.27
Forward P/E: 10.87

Shares Statistics

Shares Outstanding: 17.29M
Shares Float: 16.84M
% Insiders: 310.00%
% Institutions: 6,920.60%
Short % Float: 2.53%

Stock Price History

1 Year Price History

2 Years Price History

5 Years Price History

10 Years Price History

Financial Charts

Revenue & Net Income (Yearly)

Revenue & Net Income (Quarterly)

Operating Expenses (Yearly)

Operating Expenses (Quarterly)

Balance Sheet (Quarterly)

Assets Breakdown (Yearly)

Assets Breakdown (Quarterly)

Liabilities Breakdown (Yearly)

Liabilities Breakdown (Quarterly)

Income Statement Waterfall

Open full waterfall
Line Item
Step Type
Value
Revenue
adjust
$371.80M
Cost of Goods Sold
adjust
$-133.75M
Gross Profit
subtotal
$238.05M
SG&A
adjust
$-15.27M
Other Operating Expense
adjust
$-120.69M
Operating Income
subtotal
$102.09M
Other / Non-Operating Items
adjust
$-13.34M
Net Income
subtotal
$88.75M

Earnings Per Share (EPS) History

Financial Ratios

📦 Raw API Data (JSON Explorer)

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