Mercantile Bank

Mercantile Bank Corporation Announces Strong Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Tuesday, January 16, 2024

Noninterest income totaled $8.3 million during the fourth quarter of 2023, up $0.5 million, or 6.3 percent, from $7.8 million during the fourth quarter of 2022.

Key Points: 
  • Noninterest income totaled $8.3 million during the fourth quarter of 2023, up $0.5 million, or 6.3 percent, from $7.8 million during the fourth quarter of 2022.
  • The net interest margin was 3.92 percent in the fourth quarter of 2023, down from 4.30 percent in the prior-year fourth quarter.
  • Noninterest income totaled $8.3 million during the fourth quarter of 2023, compared to $7.8 million during the fourth quarter of 2022.
  • Noninterest expense totaled $29.9 million during the fourth quarter of 2023, compared to $28.5 million during the prior-year fourth quarter.

Blackford Capital Acquires LTD Online Stores, Inc., Expands Platform to Include High-End Furniture and Diversified Distribution Network

Retrieved on: 
Tuesday, December 5, 2023

“Expanding our Patio offerings to include high-end patio furniture has been a critical target since the platform’s inception in 2022,” said Paul Doyle, managing director at Blackford Capital and chairman of the Patio Portfolio.

Key Points: 
  • “Expanding our Patio offerings to include high-end patio furniture has been a critical target since the platform’s inception in 2022,” said Paul Doyle, managing director at Blackford Capital and chairman of the Patio Portfolio.
  • “LTD has maintained an impressive growth trajectory before, during and beyond COVID due, in large part, to their high-quality furniture, sales channels and diverse customer base.
  • In 2008, LTD began designing, manufacturing, and selling its own products, before opening a retail showroom in 2017.
  • Mercantile Bank of Michigan provided debt in support of the transaction.

Mercantile Bank Corporation Announces Retirement of President and Chief Executive Officer Robert B. Kaminski, Jr.

Retrieved on: 
Tuesday, October 17, 2023

GRAND RAPIDS, Mich., Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that President and Chief Executive Officer ("CEO") Robert B. Kaminski.

Key Points: 
  • GRAND RAPIDS, Mich., Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that President and Chief Executive Officer ("CEO") Robert B. Kaminski.
  • In conjunction with Mr. Kaminski’s retirement, Raymond E. Reitsma will be appointed President and CEO of Mercantile effective June 1, 2024.
  • Mr. Reitsma will continue to serve in his current role as Executive Vice President and Chief Operating Officer until June 1, 2024.
  • I am excited and honored to be of service to our team and the customers we serve.”
    Mr. Reitsma was appointed President of Mercantile Bank in January 2017, Executive Vice President of Mercantile Bank Corporation in May 2018, and Chief Operating Officer of Mercantile Bank Corporation in January 2022.

Alogent Eliminates Legacy Document Tracking and Streamlines Loan Management with its AccuAccount Platform at Mercantile Bank

Retrieved on: 
Wednesday, August 30, 2023

PEACHTREE CORNERS, Ga., Aug. 30, 2023 /PRNewswire-PRWeb/ -- Alogent (@AlogentCorp), a global software leader in the banking and financial services market, announced today that Mercantile Bank, $5.1 billion in assets, has implemented AccuAccount, its core-integrated document management software platform for loans and exception tracking. By simplifying loan management, including custom setups for each lending relationship and unique document structures – by customer, account, and/or account-type – the bank eliminated a legacy document tracking system and can now manage multiple collaterals for each loan.

Key Points: 
  • Alogent, a global software leader in the banking and financial services market, announced today that Mercantile Bank, $5.1 billion in assets, has implemented AccuAccount, its core-integrated document management software platform for loans and exception tracking.
  • By simplifying loan management, including custom setups for each lending relationship and unique document structures – by customer, account, and/or account-type – the bank eliminated a legacy document tracking system and can now manage multiple collaterals for each loan.
  • PEACHTREE CORNERS, Ga., Aug. 30, 2023 /PRNewswire-PRWeb/ -- Alogent (@AlogentCorp), a global software leader in the banking and financial services market, announced today that Mercantile Bank , $5.1 billion in assets, has implemented AccuAccount , its core-integrated document management software platform for loans and exception tracking.
  • By simplifying loan management, including custom setups for each lending relationship and unique document structures – by customer, account, and/or account-type – the bank eliminated a legacy document tracking system and can now manage multiple collaterals for each loan.

Red Wing Shoes Unveils "Trades-Made" Initiative: Honoring Skilled Trade Workers and Fostering Solidarity Across Brands

Retrieved on: 
Tuesday, August 29, 2023

Red Wing Shoes, a brand synonymous with quality craftsmanship, is proud to announce the launch of its pioneering "Trades-Made" campaign.

Key Points: 
  • Red Wing Shoes, a brand synonymous with quality craftsmanship, is proud to announce the launch of its pioneering "Trades-Made" campaign.
  • Though Red Wing Shoes has created comfortable, specialized shoes for trade workers since 1905, this initiative is not about footwear at all; it's a movement dedicated to celebrating and supporting the skilled trade workers who build, create, and shape our world.
  • View the full release here: https://www.businesswire.com/news/home/20230829504472/en/
    Red Wing Shoes Unveils "Trades-Made" Initiative: Honoring Skilled Trade Workers and Fostering Solidarity Across Brands (Graphic: Business Wire)
    In an era where skilled trades often go unnoticed, Red Wing Shoes is on a mission to shine a spotlight on the invaluable contributions of trade workers.
  • As an additional element of the campaign, Red Wing Shoes will illuminate iconic local buildings in cities across the country with the names of real trade workers.

NPF Investment Advisors Promotes Tyler Bosgraaf to Partner

Retrieved on: 
Friday, March 10, 2023

NPF Investment Advisors, one of the longest standing privately owned investment management firms in Grand Rapids, Michigan is pleased to announce that Tyler Bosgraaf, CFA, CFP® was promoted to Partner on January 1, 2023.

Key Points: 
  • NPF Investment Advisors, one of the longest standing privately owned investment management firms in Grand Rapids, Michigan is pleased to announce that Tyler Bosgraaf, CFA, CFP® was promoted to Partner on January 1, 2023.
  • “Tyler embodies everything that we stand for as a culture – and we are proud to welcome him to NPF’s Partnership Team,” said Kurt Arvidson, CFA®, MBA, Partner & Chief Investment Officer.
  • “NPF is a special culture with a 90-year history, highly experienced and credentialed team, and incredible circle of clients,” said Chad Dutcher, CFA®, CPWA®, Partner & Investment Advisor.
  • “NPF has been a perfect fit for me – and I look forward to the additional responsibilities that come with the partnership,” said Tyler Bosgraaf.

Mercantile Bank Corporation Announces Fourth Quarter and Full Year 2022 Results Conference Call and Webcast

Retrieved on: 
Monday, December 19, 2022

GRAND RAPIDS, Mich., Dec. 19, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m. Eastern Time on Tuesday, January 17, 2023 to discuss fourth quarter and full year 2022 financial results.

Key Points: 
  • GRAND RAPIDS, Mich., Dec. 19, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m. Eastern Time on Tuesday, January 17, 2023 to discuss fourth quarter and full year 2022 financial results.
  • ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Mercantile Bank Corporation Call."
  • Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank.
  • Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM.

Mercantile Appoints New Members to Bank Board of Directors

Retrieved on: 
Thursday, December 1, 2022

GRAND RAPIDS, Mich., Dec. 1, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile"), announced today the appointments of Amy L. Sparks, CPA and Nelson F. Sanchez, CPA to the Bank's Board of Directors in the second half of 2022.

Key Points: 
  • GRAND RAPIDS, Mich., Dec. 1, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile"), announced today the appointments of Amy L. Sparks, CPA and Nelson F. Sanchez, CPA to the Bank's Board of Directors in the second half of 2022.
  • Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank.
  • Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM."
  • Mercantile undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

Mercantile Bank Corporation Announces Third Quarter 2022 Results Conference Call and Webcast

Retrieved on: 
Tuesday, September 27, 2022

GRAND RAPIDS, Mich., Sept. 27, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call and webcast to discuss third quarter 2022 results on Tuesday, October 18, 2022, at 10:00 a.m. Eastern Time.

Key Points: 
  • GRAND RAPIDS, Mich., Sept. 27, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call and webcast to discuss third quarter 2022 results on Tuesday, October 18, 2022, at 10:00 a.m. Eastern Time.
  • Interested parties may access the conference call by dialing 1-844-868-8844 and requesting the "Mercantile Bank Corporation call."
  • Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank.
  • Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM."

American Cancer Society Introduces New Gala in West Michigan

Retrieved on: 
Tuesday, September 27, 2022

"We are thrilled to offer this exciting opportunity to our community to meet the chefs and sample their incredible foods, all to raise money for the American Cancer Society."

Key Points: 
  • "We are thrilled to offer this exciting opportunity to our community to meet the chefs and sample their incredible foods, all to raise money for the American Cancer Society."
  • "This year all the funds raised will go toward researchers in Michigan working to find answers to end cancer.
  • About 60% of our Chefs have had their own personal experiences with cancer in their families, so they are happy to give back to American Cancer Society."
  • The American Cancer Society is on a mission to free the world from cancer.