Earnings summaries and quarterly performance for MERCANTILE BANK.
Executive leadership at MERCANTILE BANK.
Raymond Reitsma
Detailed
President and Chief Executive Officer
CEO
BH
Brett Hoover
Detailed
Executive Vice President, Chief Human Resource Officer
CC
Charles Christmas
Detailed
Executive Vice President and Chief Financial Officer; Treasurer
MA
Mark Augustyn
Detailed
Executive Vice President, Chief Commercial Banking Officer (Bank)
SS
Scott Setlock
Detailed
Executive Vice President, Chief Operating Officer and Secretary
TR
Tara Randall
Detailed
Executive Vice President, Chief Experience Officer (Bank)
Board of directors at MERCANTILE BANK.
AS
Amy Sparks
Detailed
Director
DR
David Ramaker
Detailed
Director
JJ
Joseph Jones
Detailed
Director
MD
Michael Davenport
Detailed
Director
MP
Michael Price
Detailed
Chair of the Board
ME
Michelle Eldridge
Detailed
Director
NS
Nelson Sanchez
Detailed
Director
RM
Richard MacDonald
Detailed
Director
SS
Sara Schmidt
Detailed
Director
SW
Shoran Williams
Detailed
Director
Research analysts who have asked questions during MERCANTILE BANK earnings calls.
DD
Damon Del Monte
Keefe, Bruyette & Woods
6 questions for MBWM
Also covers: ALRS, BY, CAC +15 more
Daniel Tamayo
Raymond James Financial, Inc.
6 questions for MBWM
Also covers: ASB, CNOB, FBIZ +13 more
NR
Nathan Race
Piper Sandler & Co.
5 questions for MBWM
Also covers: ALRS, BSVN, BWB +18 more
Brendan Nosal
Hovde Group, LLC
4 questions for MBWM
Also covers: ALRS, BWB, BY +11 more
Adam Kroll
Piper Sandler Companies
1 question for MBWM
Also covers: BWB, BY, HAFC +4 more
Recent press releases and 8-K filings for MBWM.
Mercantile Bank Corporation Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook
MBWM
Earnings
M&A
Guidance Update
- Mercantile Bank Corporation (MBWM) reported net income of $22.8 million, or $1.40 per diluted share, for the fourth quarter of 2025, and $88.8 million, or $5.47 per diluted share, for the full year 2025. The company achieved an 11% year-over-year EPS growth rate, a 1.4% return on average assets, and a 14.1% return on average equity for 2025.
- The acquisition of Eastern Michigan Bank was consummated on December 31, 2025, which contributed positively to liquidity and the loan-to-deposit ratio, standing at 91% at year-end 2025.
- For 2026, MBWM projects loan growth in a range of 5%-7% annualized and expects its net interest margin to increase from the fourth quarter 2025 level in Q1 2026, with further steady increases throughout the year.
- The company maintains strong asset quality, with past due loans at 11 basis points of total loans and an allowance for credit losses of 1.21% of total loans as of December 31, 2025.
Jan 20, 2026, 3:00 PM
MBWM Announces Q4 2025 Results, Highlights Strong Earnings and Acquisition
MBWM
Earnings
Guidance Update
M&A
- MBWM reported strong earnings performance in 2025, with EPS of $5.47, an 11% year-over-year increase, alongside a Return on Average Assets (ROAA) of 1.4% and a Return on Average Equity (ROAE) of 14.1%.
- The company maintained strong asset quality with nonperforming assets to total assets at 0.12% and nonperforming loans to total loans at 0.16% as of December 31, 2025.
- MBWM's loan-to-deposit ratio improved to 91% at year-end 2025 from 98% at year-end 2024, reflecting a strategic initiative. Total deposits increased 12% (2% excluding acquisition) and total loans increased 6% (including acquisition).
- The acquisition of Eastern Michigan Financial Corporation closed on December 31, 2025, contributing to commercial loan and deposit growth.
- For 2026, MBWM provided guidance including annualized loan growth of 5.00%-7.00% and projected Net Interest Margin ranging from 3.55%-3.65% in Q1 to 3.70%-3.80% in Q4.
Jan 20, 2026, 3:00 PM
Mercantile Bank Corporation Reports Q4 and Full Year 2025 Results, Provides 2026 Outlook
MBWM
Earnings
M&A
Guidance Update
- Mercantile Bank Corporation reported net income of $22.8 million and diluted EPS of $1.40 for the fourth quarter of 2025, and net income of $88.8 million and diluted EPS of $5.47 for the full year 2025.
- The company completed its acquisition of Eastern Michigan Bank on December 31, 2025, which contributed to an improved loan-to-deposit ratio of 91% and a stable net interest margin of 3.43% in Q4 2025.
- For 2026, Mercantile Bank projects loan growth of 5%-7% annualized and anticipates its net interest margin to increase in Q1 2026 from Q4 2025, with further steady increases throughout the year.
- Asset quality remains strong, with the allowance for credit losses at 1.21% of total loans as of December 31, 2025. The company did not repurchase shares in 2025 but has $6.8 million available in its current plan and a stronger appetite for buybacks going forward.
Jan 20, 2026, 3:00 PM
Mercantile Bank Corporation Reports Strong 2025 Results and Provides 2026 Outlook Following Eastern Michigan Bank Acquisition
MBWM
Earnings
Guidance Update
M&A
- Mercantile Bank Corporation reported net income of $22.8 million, or $1.40 per diluted share, for the fourth quarter of 2025, and $88.8 million, or $5.47 per diluted share, for the full year 2025, reflecting an 11% year-over-year EPS growth rate.
- The company completed its acquisition of Eastern Michigan Bank on December 31, 2025, which contributed positively to liquidity and lowered the loan-to-deposit ratio to 91% as of year-end 2025.
- The net interest margin remained relatively stable over the past five quarters, averaging 3.46%, and is forecasted to increase in Q1 2026, partly due to the Eastern acquisition.
- For 2026, MBWM is projecting loan growth in the range of 5%-7% annualized and anticipates a federal tax rate of 17%, with an increased appetite for share buybacks.
Jan 20, 2026, 3:00 PM
Mercantile Bank Corporation Announces Strong Fourth Quarter and Full-Year 2025 Results
MBWM
Earnings
M&A
- Mercantile Bank Corporation reported net income of $22.8 million, or $1.40 per diluted share, for the fourth quarter of 2025, compared to $19.6 million, or $1.22 per diluted share, in the prior-year period. For the full-year 2025, net income was $88.8 million, or $5.47 per diluted share, up from $79.6 million, or $4.93 per diluted share, for the full-year 2024.
- The company completed the acquisition of Eastern Michigan Financial Corporation on December 31, 2025, adding $572 million in total assets and $475 million in deposits.
- Key full-year 2025 highlights include net interest income growth of approximately 5%, a substantial decline in the effective tax rate from 19% in 2024 to 14% in 2025, and an 11% increase in tangible book value per common share to $36.78 as of December 31, 2025.
- Asset quality remained strong, with nonperforming assets totaling $7.9 million, or 0.1% of total assets, as of December 31, 2025, and the loan-to-deposit ratio reduced to 91% when factoring in the acquisition.
Jan 20, 2026, 1:03 PM
Mercantile Bank Corporation Announces Fourth Quarter and Full-Year 2025 Results
MBWM
Earnings
M&A
- Mercantile Bank Corporation reported net income of $22.8 million for the fourth quarter of 2025, compared with $19.6 million for the prior-year period, and $88.8 million for the full-year 2025, up from $79.6 million in 2024. Diluted earnings per share were $1.40 for the fourth quarter of 2025 and $5.47 for the full-year 2025.
- The company completed the acquisition of Eastern Michigan Financial Corporation on December 31, 2025, which had $572 million in total assets.
- Full-year 2025 highlights include a return on average assets of 1.4 percent and a return on average equity of 14.1 percent. Tangible book value per common share increased by approximately 11 percent to $36.78 as of December 31, 2025.
- Net interest income grew approximately 5 percent for the full-year 2025, and the effective tax rate declined from approximately 19 percent in 2024 to 14 percent in 2025.
- The loan-to-deposit ratio reduced from approximately 98 percent as of December 31, 2024, to approximately 95 percent as of December 31, 2025, further declining to 91 percent when considering the impact of the acquisition.
Jan 20, 2026, 10:05 AM
Mercantile Bank Corporation Declares Increased Quarterly Cash Dividend
MBWM
Dividends
- Mercantile Bank Corporation's Board of Directors declared a regular quarterly cash dividend of $0.39 per common share on January 15, 2026.
- This dividend is payable on March 18, 2026, to shareholders of record as of March 6, 2026.
- The $0.39 cash dividend is 2.6 percent higher than the cash dividend paid during the fourth quarter of 2025 and 5.4 percent higher than the first quarter of 2025.
- The declared dividend results in a current annual yield of approximately 3.1%.
Jan 20, 2026, 10:00 AM
Mercantile Bank Corporation Completes Merger with Eastern Michigan Financial
MBWM
M&A
Debt Issuance
Board Change
- Mercantile Bank Corporation (MBWM) announced the completion of its merger with Eastern Michigan Financial Corporation on December 31, 2025, which will result in a combined entity with approximately $6.9 billion in total assets.
- Eastern Michigan Financial Corporation shareholders received $32.32 per share and 0.7116 shares of Mercantile common stock for each share of Eastern common stock they owned.
- To fund the merger and for working capital, Mercantile secured a $30.0 million term loan from U.S. Bank National Association on December 24, 2025, with an interest rate of 1.70% plus the greater of 0.0% and the one-month forward-looking term rate based on SOFR, and a maturity date of December 24, 2028.
- The term loan agreement includes financial covenants, requiring Mercantile to maintain a total risk-based capital ratio of at least 12.00% and a return on average assets of at least 0.80% (commencing Q4 2025).
- Effective December 31, 2025, the board of directors increased to 12 members, with Steve Schweihofer appointed as a new director, who will also serve on the audit committee.
Dec 31, 2025, 9:04 PM
Mercantile Bank Corporation Completes Merger with Eastern Michigan Financial Corporation
MBWM
M&A
- Mercantile Bank Corporation (MBWM) completed its merger with Eastern Michigan Financial Corporation on December 31, 2025.
- Eastern shareholders received $32.32 per share and 0.7116 shares of Mercantile common stock for each share of Eastern common stock.
- The newly acquired Eastern Michigan Bank will operate alongside Mercantile Bank until its planned consolidation into Mercantile Bank in the first quarter of 2027, subject to regulatory approvals.
- The combined organization will comprise one of the largest Michigan-based banking organizations with total combined assets of approximately $6.9 billion.
Dec 31, 2025, 9:00 PM
Mercantile Bank Corporation and Eastern Michigan Financial Corporation Receive Regulatory Approvals for Merger
MBWM
M&A
Proxy Vote Outcomes
- Mercantile Bank Corporation and Eastern Michigan Financial Corporation jointly announced on December 16, 2025, that they have received all required regulatory approvals for their proposed merger, including approval from the Federal Reserve Bank of Chicago.
- The merger is currently expected to be completed on December 31, 2025, subject to Eastern shareholder approval and the satisfaction of remaining customary closing conditions.
- Eastern shareholders are scheduled to vote on the proposed merger at a meeting to be held on December 19, 2025.
- Following the merger, Mercantile will operate as a two-bank holding company, with plans to consolidate Eastern Michigan Bank into Mercantile Bank by the first quarter of 2027.
Dec 16, 2025, 11:26 PM
Quarterly earnings call transcripts for MERCANTILE BANK.
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