Mercantile Bank
Grand Rapids, MI
IDRSSD: 2608754
Total Assets
$6.23B
Latest filing
Total Deposits
$4.84B
Latest filing
Net Interest Margin
3.73%
Profitability
Locations
Main office and branches. Select to view on the map.
Main Office
Mercantile Bank
310 Leonard St Nw
Grand Rapids, MI 49504
Full Service - Brick and Mortar
Updated 11/14/2025Established 12/15/1997FDIC Certificate 60762
Branches (41)
Page 1 of 6| Name | Address | City / State |
|---|---|---|
| Mercantile Bank (Main) | 310 Leonard St Nw | Grand Rapids, MI |
| SHEPHERD BRANCH | 258 W Wright Ave | Shepherd, MI |
| WEST M20 BRANCH | 1925 E Remus Rd | Mount Pleasant, MI |
| VESTABURG BRANCH | 9002 E Howard City Edmore Rd | Vestaburg, MI |
| ALMA DRIVE-THRU BRANCH | 230 Woodworth Ave | Alma, MI |
| PICKARD BRANCH | 4699 E Pickard St | Mount Pleasant, MI |
| NORTHTOWN BRANCH | 7300 N Alger Rd | Alma, MI |
| ITHACA BRANCH | 219 E Center St | Ithaca, MI |
Showing 7 of 41
Quarterly Trends
Tooltip shows Quarter only. Download buttons export the chart only (CSV/PNG with white background).
Total Assets vs Total Liabilities
Loans & Leases vs Deposits
Interest Income vs Expense
Net Interest Income
Noninterest Expense vs Income
Net Income
Similar banks
Northpointe Bank
Grand Rapids, Michigan
→
Assets: $6.43BΔ +5.3%
Independent Bank
Grand Rapids, Michigan
→
Assets: $5.41BΔ -11.4%
United Bank of Michigan
Grand Rapids, Michigan
→
Assets: $1.04BΔ -83.0%
Union Bank
Grand Rapids, Michigan
→
Assets: $381.54MΔ -93.8%
First National Bank of America
East Lansing, Michigan
→
Assets: $6.43BΔ +5.3%
ChoiceOne Bank
Sparta, Michigan
→
Assets: $4.31BΔ -29.5%
Institution Profile
| Institution Class | Commercial bank, state charter, Fed non-member, and supervised by the FDIC |
| Primary Regulator | FDIC |
| Established Date | 12/15/1997 |
| Community Bank | No |
| Ownership Type | Not Mutual |
| ZIP | 49504 |
| State and County Number | 26081 |
| Subchapter S Corporations | No |
| Trust Powers | N/A |
| Federal Reserve ID Number | 07 |
| Numeric code | 21 |
| Insured by FDIC | Institutions that are currently open and insured by the FDIC |
| Federal Reserve District | Chicago |
| Core Based Statistical Area Name | Grand Rapids-Kentwood, MI |
Operational Info
| Number of Employees | 692 |
| Domestic Offices | 43 |
| Foreign Offices | 0 |
| US Offices | 0 |
| Directly owned by another bank (CERT) | No |
| Last Structure Change Effective Date | 10/09/2022 |
| Date of Deposit Insurance | 12/15/1997 |
| Primary Insurance Agency | DIF |
| Website | www.mercbank.com |
| Data Updated | 11/14/2025 |
| CERT | 34598 |
| Office of The Comptroller District: | — |
| Office of Thrift Supervision Region | N/A |
Financial Summary
| Total Assets | $6.23B |
| Total Deposits | $4.84B |
| Total Liabilities | $5.50B |
| Total Equity Capital | $735.95M |
| Net Income | $26.58M |
| Net Loans and Leases | $4.57B |
| Assets Per Employee ($Millions) | $9.13M |
| Bank Premises and Fixed Assets | $56.16M |
| Cash and Balances due from Depository Institutions | $477.02M |
| Deposits Held in Domestic Offices | $4.84B |
Key Performance Ratios
| Return on Assets (ROA) | 1.72% |
| Return on Equity (ROE) | 14.64% |
| Net Interest Margin | 3.73% |
| Efficiency Ratio | 50.27% |
| Tier 1 Risk-Based Capital Ratio | 13.17% |
| Net Loans and Leases to Core Deposits | 0% |
| Credit Loss Provision to Assets | 0.03% |
| Cash Dividends to Net Income (YTD Only) | 0% |
| Equity Capital to Assets | 11.804% |
| Earning Assets to total Assets | 93.78% |
Income and Expense
| Total Interest Income | $85.64M |
| Total Noninterest Income | $10.34M |
| Total Interest Expense | $31.91M |
| Total Noninterest Expense | $32.20M |
| Net Interest Income | $53.73M |
| Pre-tax Net Operating Income | $31.41M |
| Provision for Credit Losses | $456.00k |
| Discontinued Operations (Extraordinary Gains - Net) | $0 |
Additional Financial Info
| Goodwill and Other Intangibles | $0 |
| All Other Assets | $0 |
| Other Real Estate Owned | $0 |
| Other borrowed funds | $346.22M |
| Federal Funds Sold & Reverse Repurchase Agreement | $0 |
| Federal Funds Purchased and Repurchased Agreement | $251.50M |
| All Other Liabilities | $64.16M |
| Total Liabilities and Capital | $6.23B |
Securities
| Securities | $855.14M |
| Available-for-sale debt securities | $855.14M |
| Equity securities with readily determinable fair values not held for trading | $0 |
| Held-to-maturity securities | $0 |
| Subordinated Debt | $0 |
| Trading Account Assets | $0 |
| Trading Liabilities | $0 |
Frequently Asked Questions
What are the total assets of Mercantile Bank?
$6.23B as of the latest filing.
How much are Mercantile Bank's total deposits?
$4.84B in total deposits.
Where is Mercantile Bank located?
Grand Rapids, MI.
What is the Net Interest Margin?
3.73%.
How many domestic offices does it operate?
43.
When was it established?
12/15/1997.
What is the Return on Assets (ROA)?
1.72%.
How much are total loans and leases?
$4.57B (latest filing).
What is the total interest income (latest filing)?
$85.64M.