Grand Rapids, MI · Cert 34598 · Mercantile Bank Corp.
State charter, non-member · FDIC · 1 affiliate bank · 40 branches (52 in holding)
Q2 2026
Market Position · Grand Rapids-Wyoming-Kentwood, MI · 2026 SOD (annual) · 7.2% share · #6 of 28 inst. · $2.5B of $34.4B
Return on Assets (quarter, annualized)
Net Interest Margin (quarter, annualized)
Efficiency Ratio (quarter, annualized)
Tier 1 Leverage Ratio
Discrete quarter, annualized.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | YoY Δ | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||||
| Return on Assets | 1.57% | 1.44% | 1.48% | 1.66% | 1.72% | 1.58% | 1.51% | 1.70% | +4 bps | |
| Return on Equity | 13.38% | 12.47% | 12.87% | 14.28% | 14.64% | 13.49% | 13.13% | 14.68% | +40 bps | |
| Net Interest Margin | 3.49% | 3.38% | 3.37% | 3.41% | 3.45% | 3.39% | 3.34% | 3.40% | -1 bps | |
| Efficiency Ratio | 51.26% | 53.40% | 51.20% | 49.80% | 50.27% | 51.61% | 56.19% | 53.56% | +377 bps | |
| Non-Interest Burden | 1.46% | 1.48% | 1.43% | 1.32% | 1.40% | 1.40% | 1.56% | 1.49% | +18 bps | |
| Growth | ||||||||||
| Asset Growth (YoY) | 12.07% | 12.82% | 11.99% | 10.09% | 6.34% | 4.13% | 4.66% | 2.17% | -792 bps | |
| Loan Growth (YoY) | 11.37% | 6.81% | 7.27% | 5.95% | 1.10% | 0.41% | -0.25% | 0.57% | -538 bps | |
| Deposit Growth (YoY) | 14.12% | 20.30% | 16.82% | 13.61% | 8.14% | 3.82% | 7.21% | 4.18% | -943 bps | |
| Asset Quality | ||||||||||
| Nonperforming Loans / Loans | 0.22% | 0.12% | 0.12% | 0.21% | 0.21% | 0.15% | 0.15% | 0.10% | -11 bps | |
| Net Charge-Offs / Loans | -0.01% | 0.31% | -0.01% | -0.01% | -0.05% | 0.23% | -0.03% | -0.04% | -3 bps | |
| Allowance / Loans | 1.23% | 1.18% | 1.22% | 1.24% | 1.28% | 1.20% | 1.17% | 1.12% | -12 bps | |
| Allowance Coverage of NPLs | 5.7x | 9.5x | 10.6x | 6.0x | 6.0x | 8.1x | 8.0x | 11.6x | +5.6x | |
| Capital | ||||||||||
| Tier 1 Leverage Ratio | 11.99% | 11.86% | 11.79% | 11.98% | 11.75% | 11.54% | 11.57% | 11.61% | -36 bps | |
| Total Risk-Based Capital | 13.89% | 13.94% | 13.99% | 13.88% | 14.25% | 13.80% | 13.79% | 13.54% | -34 bps | |
| Equity / Assets | 11.70% | 11.45% | 11.47% | 11.73% | 11.80% | 11.63% | 11.42% | 11.72% | -1 bps | |
| Liquidity & Funding | ||||||||||
| Loans / Deposits | 102.45% | 97.89% | 98.98% | 99.90% | 95.78% | 94.68% | 92.10% | 96.44% | -346 bps | |
| Liquid Assets / Assets | 4.11% | 5.61% | 5.19% | 3.19% | 6.71% | 6.00% | 7.55% | 3.51% | +32 bps | |
| CRE / Total Capital | n/a | n/a | n/a | n/a | 335% | 343% | 334% | n/a | n/a | |