Mercantile Bank
FDIC #34598
📍 Grand Rapids, Michigan
Mercantile Bank is a commercial bank, state charter and fed nonmember, supervised by the fdic. established in December 15, 1997. With assets of $5.23 Billion, it operates 43 domestic branches.
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Community Reinvestment Act (CRA) Rating
Latest Exam: June 1, 2022
What is CRA? The Community Reinvestment Act (CRA) is a federal law that encourages banks to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods.
Rating History
June 1, 2022
Satisfactory
February 1, 2019
Outstanding
January 1, 2016
Outstanding
💰 Financial Strength
Total Assets$5.23 Billion
Total Deposits$3.92 Billion
Equity Capital$585.90 Million
Net Income$70.04 Million
📈 Performance
ROA1.86%
ROE16.38%
Financial Terms:
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
ROA (Return on Assets): Measures profitability relative to size. 1.0%+ is good.
ROE (Return on Equity): Measures profitability for shareholders. 10%+ is strong.
📋 Corporate Structure
EstablishedDecember 15, 1997
FDIC Cert34598
Holding CoMercantile Bank Corp
Parent CertNA - Not listed as a child of a larger bank.
Last ChangeOctober 24, 2022
Foreign Offices0
SAIF InsuredNo
State CharteredYes
🕰️ Lobby Hours
Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 5:30 PM
SaturdayClosed
SundayClosed
📜 Institutional History
2022
Name Change
Name became: Changed Institution Name To Mercantile Bank.
2014
Merger / Acquisition
Acquired: Firstbank
2014
Merger / Acquisition
Acquired: Keystone Community Bank
2006
Name Change
Name became: Changed Institution Name To Mercantile Bank Of Michigan.
2005
Relocation
Moved HQ to: 310 Leonard Street Nw, Grand Rapids, MI 49504.