Mercantile Bank
Mercantile Bank reported total assets of $6.2 bn at Q2 2026, up 2.2% on a year earlier, the 239th largest of 497 banks in our US coverage. The CET1 capital ratio at Mercantile Bank was 12.59%, and the uninsured share of Mercantile Bank was 57.50%. Source: FDIC Call Reports.
Key takeaways
- On efficiency ratio, Mercantile Bank slipped from 122nd to 227th among 500 US banks between and (1 = lowest; FDIC Call Reports).
- Mercantile Bank reports one of the lowest net charge-offs to average loans readings among banks of $1 bn to $10 bn: -0.03% at , where the median of the 339 banks is 0.06% (FDIC Call Reports).
- At 57.50%, the uninsured share of domestic deposits of Mercantile Bank sits in the top tenth of its size group ($1 bn to $10 bn, 339 banks), where the median is 32.61% (FDIC Call Reports).
What sets Mercantile Bank apart
- Among the 339 banks of $1 bn to $10 bn, few report a lower noncurrent loans to total loans than Mercantile Bank, at 0.10% in ; the group median is 0.58%.
How large is Mercantile Bank?
The balance sheet of Mercantile Bank at : assets $6.2 bn, deposits $4.9 bn, net loans $4.7 bn (loans equal to 95.36% of deposits). Securities make up 15.2% of total assets at Mercantile Bank. Since , when Mercantile Bank held $2.9 bn, its assets grew 114.7%. In the year to , deposits at Mercantile Bank rose 4.2% while its total assets rose 2.2%. At , Mercantile Bank employed 741 full-time equivalent staff across 41 offices, about $8.4 mn of assets per employee and $120.2 mn of deposits per office.
How much funding at Mercantile Bank is uninsured?
At Mercantile Bank, uninsured deposits (above the FDIC limit) made up 57.50% of domestic deposits at (+5.99 pp on a year earlier); Mercantile Bank ranks 36th of 500 on this measure. In dollars, Mercantile Bank estimated $2.8 bn of uninsured deposits.
Key facts, Q2 2026
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total deposits | $4.9 bn | +4.2% | 252nd of 499 |
| Net loans and leases | $4.7 bn | +0.7% | 224th of 500 |
| Loan-to-deposit ratio | 95.36% | -3.31 pp | 103rd of 500 |
| Tier 1 leverage ratio | 11.61% | -0.36 pp | 115th of 500 |
| Total risk-based capital ratio | 13.54% | -0.34 pp | 303rd of 448 |
| Net interest margin | 3.57% | -0.01 pp | 274th of 500 |
| Return on assets (ROA) | 1.61% | +0.04 pp | 123rd of 500 |
| Efficiency ratio | 54.86% | +4.39 pp | 227th of 500 (1 = lowest) |
| Unrealized gain/loss on available-for-sale securities | Loss of $38.0 mn | Narrowed by $7.3 mn | |
| Noncurrent loans to total loans | 0.10% | -0.11 pp | 34th of 500 (1 = lowest) |
| Net charge-offs to average loans | -0.03% | -0.02 pp | 12th of 500 (1 = lowest) |
US rank of Mercantile Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Mercantile Bank: assets, deposits and loans
- Total assets $6.2bn
- Deposits $4.9bn
- Net loans $4.7bn
Capital and securities
The CET1 ratio of Mercantile Bank stood at 12.59% in , -0.23 pp year on year. Low and high at Mercantile Bank since : 11.46% () to 13.17% (). Equity capital of Mercantile Bank at : $731.4 mn, or 11.7% of total assets. Mercantile Bank also reported a total capital ratio of 13.54% for , and a tier 1 leverage ratio of 11.61%.
The available-for-sale portfolio of Mercantile Bank showed an unrealized loss of $38.0 mn at ; the loss narrowed by $7.3 mn over the year.
Mercantile Bank: capital ratios
- Total capital 14%
- CET1 13%
- Tier 1 leverage 12%
Mercantile Bank: unrealized securities gains and losses
- Available for sale -$38mn
- Held to maturity $0
Profitability and loan quality
For the year to , Mercantile Bank earned a return on equity of 13.90%; return on assets: 1.61%. Net interest margin at Mercantile Bank: 3.57%, -0.01 pp in a year. Mercantile Bank net income: $50.6 mn, up 6.5% year on year. The efficiency ratio of Mercantile Bank was 54.86%: about 55 cents cost per revenue dollar, against 56 cents at the median peer.
At , noncurrent loans were 0.10% of total loans at Mercantile Bank; net charge-offs: -0.03% of average loans. Gross loans and leases at Mercantile Bank: $4.8 bn, up 0.6% in a year.
Mercantile Bank: profitability
- Return on equity 14%
- Net interest margin 3.6%
- Return on assets 1.6%
Peer group of Mercantile Bank
The peer group of Mercantile Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of Mercantile Bank (state nonmember bank), 6 sit in the same size group ($1 bn to $10 bn) and 0 have head offices in Michigan. Against them, Mercantile Bank shows CET1 ratio 12.59% against a peer median of 12.62%, return on equity 13.90% against a peer median of 13.37% and uninsured deposit share 57.50% against a peer median of 37.65%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Choice Financial Group | State nonmember bank | ND | $6.4 bn | not reported | 11.42% | 26.47% | |
| Northbrook Bank and Trust Company | National bank | IL | $6.4 bn | 11.16% | 17.31% | 39.70% | |
| Five Star Bank | State member bank | NY | $6.3 bn | 12.72% | 13.29% | 46.41% | |
| Mercantile Bank | State nonmember bank | MI | $6.2 bn | 12.59% | 13.90% | 57.50% | |
| First International Bank & Trust | State nonmember bank | ND | $6.2 bn | 10.68% | 14.47% | 38.89% | |
| First Financial Bank | National bank | IN | $6.2 bn | 12.62% | 13.45% | 36.41% | |
| Middlesex Savings Bank | State nonmember bank | MA | $6.1 bn | 18.24% | 5.57% | 22.40% | |
. FDIC Call Reports.
Last eight quarters
Two years at Mercantile Bank, to : assets +6.4%, deposits +10.2%, equity +6.7%. Staff 653 to 741; offices 43 to 41.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $5.9 bn | $6.0 bn | $6.1 bn | $6.1 bn | $6.2 bn | $6.2 bn | $6.4 bn | $6.2 bn |
| Total deposits | $4.5 bn | $4.7 bn | $4.7 bn | $4.7 bn | $4.8 bn | $4.9 bn | $5.0 bn | $4.9 bn |
| Bank equity capital | $685.7 mn | $686.1 mn | $696.7 mn | $716.4 mn | $735.9 mn | $725.8 mn | $725.8 mn | $731.4 mn |
| CET1 ratio | 12.82% | 12.92% | 12.94% | 12.82% | 13.17% | 12.77% | 12.78% | 12.59% |
| Return on equity (ROE) | 13.98% | 13.62% | 12.87% | 13.57% | 13.93% | 13.86% | 13.13% | 13.90% |
| Uninsured share of domestic deposits | 52.51% | 53.40% | 52.87% | 51.51% | 53.27% | 54.57% | 56.25% | 57.50% |
| Full-time equivalent employees | 653 | 668 | 662 | 692 | 683 | 685 | 685 | 741 |
| Number of offices | 43 | 43 | 43 | 43 | 42 | 41 | 41 | 41 |
FDIC Call Reports.
Mergers and acquisitions
No merger or acquisition by Mercantile Bank appears in the FDIC history since , and its total assets never moved more than 25% in one quarter.
Questions and identifiers
What were the total assets of Mercantile Bank?
Mercantile Bank reported $6.2 bn at in its Call Report. That makes Mercantile Bank the 239th largest of 497 banks in our US coverage.
Is Mercantile Bank the same as its holding company?
No. This page covers Mercantile Bank, FDIC certificate 34598; MERCANTILE BANK CORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Mercantile Bank profitable?
Mercantile Bank reported net income of $50.6 mn for the year to ; annualized return on equity: 13.90%. So yes: Mercantile Bank made a profit over these months.
When is data for Mercantile Bank next updated?
Figures from Mercantile Bank for are due after .
Where can I check the figures for Mercantile Bank?
In the FDIC BankFind Suite record for certificate 34598, and in the Call Reports of Mercantile Bank (RSSD ID 2608754) at the FFIEC Central Data Repository.