Mercantile Bank Corp.
- MBWM · Nasdaq
- State Commercial Banks
- Grand Rapids, MI
- 786 employees
- CIK 0001042729
Updated from SEC filings through
Top things to know
Executives
- Ray Reitsma President and Chief Executive Officer of Mercantile 8-K, 2026-10-20
-
Raymond E. Reitsma President and Chief Executive Officer 10-K, 2026-02-27 -
Charles E. Christmas Executive Vice President, Chief Financial Officer and Treasurer 10-K, 2026-02-27 - Brett E. Hoover Executive Vice President, Chief Human Resource Officer of Mercantile and of Mercantile Bank DEF 14A, 2026-04-02
- Mark S. Augustyn EVP&Chief Comm Banking Officer 4, 2026-02-09
- Brett Hoover EVP & CHIEF HR OFFICER 4, 2026-02-09
What leadership is saying
“Our financial performance metrics remained strong during the third quarter of 2026”
Earnings press release (8-K Ex. 99.1), filed October 20, 2026
Mercantile Bank Corp is a U.S. public company in state commercial banks (SIC 6022), headquartered in Grand Rapids, MI. It trades as MBWM on Nasdaq. Revenue was $330M in the fiscal year ending December 31, 2025, +2.7% from the year before. It reported about 786 employees. Ray Reitsma is President and Chief Executive Officer of Mercantile.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $330M 10-K, 2026-02-27 | $322M 10-K, 2026-02-27 | $271M 10-K, 2026-02-27 | $182M 10-K, 2025-03-03 | $143M 10-K, 2024-03-01 |
| Operating income | Not on file | Not on file | Not on file | Not on file | Not on file |
| SG&A | Not on file | Not on file | Not on file | Not on file | Not on file |
| Net income | $88.8M 10-K, 2026-02-27 | $79.6M 10-K, 2026-02-27 | $82.2M 10-K, 2026-02-27 | $61.1M 10-K, 2025-03-03 | $59.0M 10-K, 2024-03-01 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| Ray Reitsma President & CEO at Mercantile Bank | President and Chief Executive Officer of Mercantile | 8-K, 2026-10-20 |
| Raymond E. Reitsma | President and Chief Executive Officer | 10-K, 2026-02-27 |
| Charles E. Christmas EVP | Chief Financial Officer at Mercantile Bank | Executive Vice President, Chief Financial Officer and Treasurer | 10-K, 2026-02-27 |
| Brett E. Hoover | Executive Vice President, Chief Human Resource Officer of Mercantile and of Mercantile Bank | DEF 14A, 2026-04-02 |
| Mark S. Augustyn Executive Vice President - Chief Lending Officer | EVP&Chief Comm Banking Officer | 4, 2026-02-09 |
| Brett Hoover | EVP & CHIEF HR OFFICER | 4, 2026-02-09 |
| Tara M. Randall | EVP & Chief Experience Officer | 4, 2026-02-09 |
| Scott P. Setlock Executive Vice President | Chief Operating Officer | EVP, COO, & SECRETARY | 4, 2026-02-09 |
| Michael H. Price | Chairman of the Board | 10-K, 2026-02-27 |
| Amy L. Sparks | Director | 10-K, 2026-02-27 |
| David B. Ramaker | Director | 10-K, 2026-02-27 |
| Joseph D. Jones | Director | 10-K, 2026-02-27 |
| Michael S. Davenport | Director | 10-K, 2026-02-27 |
| Michelle L. Eldridge | Director | 10-K, 2026-02-27 |
| Nelson F. Sanchez | Director | 10-K, 2026-02-27 |
| Richard D. MacDonald | Director | 10-K, 2026-02-27 |
What Mercantile Bank Corp does
Mercantile Bank Corporation is a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the “Bank Holding Company Act”). Unless the text clearly suggests otherwise, references to “us,” “we,” “our,” or “the company” include Mercantile Bank Corporation and its wholly owned subsidiaries. As a bank holding company, we are subject to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”).
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 17.3 million (as of October 23, 2026) | 10-Q, October 30, 2026 |
|---|---|---|
| Public float | $730M (as of June 30, 2025) | 10-K, February 27, 2026 |
| Reportable segments | 2 (period ending September 30, 2026) | 10-Q, October 30, 2026 |
| Latest proxy statement | Meeting May 21, 2026 (filed April 2, 2026) | DEF 14A, April 2, 2026 |
| Auditor | Plante & Moran, PLLC (GRAND RAPIDS, MICHIGAN) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| November 13, 2025 | Michael H. Price Director | Sale | 4,577 | $210K | Form 4, November 17, 2025 |
| October 31, 2025 | Nelson F. Sanchez Director | Buy | 1,000 | $44K | Form 4, November 4, 2025 |
| August 18, 2025 | David B. Ramaker Director | Buy | 1,500 | $70K | Form 4, August 19, 2025 |
| July 29, 2025 | Shoran R. Williams Director | Buy | 200 | $9K | Form 4, July 30, 2025 |
Recent 8-K events
- 8-K filed 2026-10-20
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-09-25
- Item 5.02 Departure or appointment of directors or officers; compensation
- 8-K filed 2026-07-21
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-05-21
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-04-21
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2026-03-19
- Item 5.02 Departure or appointment of directors or officers; compensation
- 8-K filed 2026-01-20
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-12-31
- Item 1.01 Entry into a material definitive agreement
- Item 2.03 Creation of a direct financial obligation
- Item 3.03 Material modification to rights of security holders
- Item 5.02 Departure or appointment of directors or officers; compensation
- Item 8.01 Other events
- 8-K filed 2025-12-19
- Item 8.01 Other events
- 8-K filed 2025-12-17
- Item 8.01 Other events
Frequently asked questions about Mercantile Bank Corp
- What does Mercantile Bank Corp do?
- In its own words, from Item 1 of its 10-K: "Mercantile Bank Corporation is a registered bank holding company under the Bank Holding Company Act of 1956, as amended (the “Bank Holding Company Act”). Unless the text clearly suggests otherwise, references to “us,” “we,” “our,” or “the company” include Mercantile Bank Corporation and its wholly owned subsidiaries. As a bank holding company, we are subject to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”)."
- What is Mercantile Bank Corp's revenue?
- $330M for the fiscal year ending December 31, 2025, from its 10-K filed February 27, 2026.
- Is Mercantile Bank Corp profitable?
- Mercantile Bank Corp reported net income of $88.8M for the fiscal year ending December 31, 2025.
- How many employees does Mercantile Bank Corp have?
- About 786, as stated in its annual report.
- Who is the CEO of Mercantile Bank Corp?
- Ray Reitsma, President and Chief Executive Officer of Mercantile, as named in a 8-K filed October 20, 2026.
- Who is the CFO of Mercantile Bank Corp?
- Charles E. Christmas, Executive Vice President, Chief Financial Officer and Treasurer, as named in a 10-K filed February 27, 2026.
- Where is Mercantile Bank Corp headquartered?
- Grand Rapids, MI.
- What is Mercantile Bank Corp's stock ticker?
- MBWM on Nasdaq.
- What industry is Mercantile Bank Corp in?
- State Commercial Banks, SIC code 6022.
- What is Mercantile Bank Corp's website?
- mercbank.com.
- When does Mercantile Bank Corp report earnings next?
- January 19, 2027. Source: estimate_8k_pattern.
- Is Mercantile Bank Corp a public company?
- Yes. Mercantile Bank Corp files with the SEC under CIK 0001042729 and trades as MBWM.
- Who audits Mercantile Bank Corp?
- Plante & Moran, PLLC, GRAND RAPIDS, MICHIGAN, as named in its latest annual report (10-K).
- How many shares of Mercantile Bank Corp are outstanding?
- 17.3 million shares as of October 23, 2026, from its 10-Q filed October 30, 2026.
- What is Mercantile Bank Corp's public float?
- $730M as of June 30, 2025, as reported on the cover of its 10-K filed February 27, 2026.
- How many business segments does Mercantile Bank Corp report?
- 2 reportable segments for the period ending September 30, 2026, from its 10-Q filed October 30, 2026.
- When is Mercantile Bank Corp's annual shareholder meeting?
- May 21, 2026, per its proxy statement (DEF 14A) filed April 2, 2026.
- Have Mercantile Bank Corp insiders traded stock recently?
- Since July 29, 2025, officers and directors reported 1 open-market sale worth about $210K and 3 purchases worth about $123K on Forms 4 and 5. The most recent: Michael H. Price (Director) sold 4,577 shares on November 13, 2025.