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Mercantile Bank
Grand Rapids, MI · FDIC Certificate #34598 · Chartered 12/1
Total assets
$6.24B
Total deposits
$4.93B
Total equity
$731.37M
Net loans
$4.70B
Branches (offices)
40
Net income (YTD)
$50.57M
Rank: #242 of 4,213 U.S. banks by assets · #3 of 72 in Michigan. Assets changed 2.2% and deposits 4.2% over the year to June 30, 2026.
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Key ratios
| Return on assets (YTD, annualized by FDIC) | 1.61% |
| Return on equity | 13.90% |
| Net interest margin (YTD) | 3.57% |
| Equity to assets | 11.72% |
| Tier 1 leverage ratio | 11.61% |
| Uninsured deposits (share of deposits) | 57.5% |
| Noncurrent loans (share of loans) | 0.10% |
| Net charge-offs (share of loans) | -0.03% |
| Loans to deposits | 95.4% |
| Real estate loans (share of loans) | 70.5% |
Loan mix
| Category | Amount | Share | |
|---|---|---|---|
| Real estate loans | $3.31B | 70.5% | |
| Commercial & industrial | $1.17B | 24.8% | |
| Consumer / individual | $10.93M | 0.2% | |
| Construction & development | $407.18M | 8.7% | |
| Agricultural | $1.23M | 0.0% |
Five-year trend (June snapshots)
| Period | Total assets | Deposits | Net income (year to date) | Equity / net worth |
|---|---|---|---|---|
| Jun 2022 | $5.04B | $3.89B | $27.57M | $531.64M |
| Jun 2023 | $5.12B | $3.78B | $46.50M | $580.92M |
| Jun 2024 | $5.55B | $4.16B | $45.85M | $653.45M |
| Jun 2025 | $6.11B | $4.73B | $47.48M | $716.42M |
| Jun 2026 | $6.24B | $4.93B | $50.57M | $731.37M |
Where its branch deposits sit (FDIC Summary of Deposits)
| State | Branch deposits | Offices |
|---|---|---|
| Michigan | $4.93B | 40 |
Branch deposits are booked at the office that holds them, which is not always where the customer lives. Total across all offices: $4.93B.
Similar-sized banks
Five Star Bank ($6.29B) · First International Bank & Trust ($6.18B)
Source: FDIC BankFind - Call Report and institution data as of June 30, 2026; branch deposits from the FDIC Summary of Deposits (June 30, 2026). See methodology.
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