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Eastern Michigan Bank

Croswell, MI · Cert 982 · Mercantile Bank Corp.

State charter, Fed member · FED · 1 affiliate bank · 12 branches (52 in holding)

Q2 2026

$553.6MAssets
$194.3MLoans
$453.7MDeposits
$97.8MEquity
Loan mix
81%RE $148.1M11%C&I $20.4M8%Consumer $14.5MQ3 2024Q2 2026
Deposit mix
70%Interest-bearing $318.6M30%Noninterest $135.1MQ3 2024Q2 2026

Market Position · Detroit-Warren-Dearborn, MI · 2026 SOD (annual) · 0.1% share · #22 of 37 inst. · $0.2B of $183.9B

22.9% Sanilac
7.5% St. Clair
2.8% Huron

Executive Summary

  • Earnings: ROA of 1.42%, down 1 bps year over year; NIM at 4.55%.
  • Asset quality: problem loans at 0.63% of loans (+16 bps YoY), with net recoveries of 0.07%.
  • Capital: tier 1 leverage ratio of 11.99%, up 121 bps from a year ago.
  • Funding: loans stand at 42.83% of deposits as of Q2 2026.

Return on Assets (YTD, annualized)

1.42%-1 bps YoY

Net Interest Margin (YTD, annualized)

4.55%+78 bps YoY

Efficiency Ratio (YTD, annualized)

48.60%-1,223 bps YoY

Tier 1 Leverage Ratio

11.99%+121 bps YoY

NIM

4.00%Q2 ’244.16%Q2 ’254.65%Q2 ’26+19%+21%

Non-interest income vs. expense

2.13%Q2 ’242.53%Q2 ’252.90%Q2 ’26+21%+16%

Year to date, annualized, through each quarter.

MetricQ3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets1.20%1.35%1.22%1.42%1.45%0.00%1.39%1.42%-1 bps
Return on Equity15.54%16.91%12.95%14.74%14.99%0.00%8.21%8.27%-646 bps
Net Interest Margin3.19%3.66%3.64%3.77%3.77%0.00%4.44%4.55%+78 bps
Efficiency Ratio58.76%57.15%63.65%60.83%59.46%n/a49.07%48.60%-1,223 bps
Non-Interest Burden1.73%1.92%2.19%2.15%2.09%0.00%2.45%2.49%+34 bps
Growth
Asset Growth (YoY)0.82%-3.53%-9.19%-9.69%2.09%9.79%10.81%9.73%+1,941 bps
Loan Growth (YoY)8.10%3.61%-4.64%-6.25%-6.10%-7.42%-2.01%-6.72%-47 bps
Deposit Growth (YoY)-1.70%-5.44%-2.32%-2.63%0.77%0.91%2.05%0.66%+329 bps
Asset Quality
Nonperforming Loans / Loans0.90%0.87%0.92%0.47%0.51%0.50%0.38%0.63%+16 bps
Net Charge-Offs / Loans-0.05%-0.07%0.02%0.00%0.00%0.00%-0.10%-0.07%-6 bps
Allowance / Loans1.31%1.27%1.31%1.17%1.20%1.18%1.19%1.16%0 bps
Allowance Coverage of NPLs1.5x1.5x1.4x2.5x2.4x2.4x3.1x1.8x-0.6x
Capital
Tier 1 Leverage Ratio8.94%10.17%10.38%10.77%10.86%10.74%10.45%11.99%+121 bps
Total Risk-Based Capital14.60%15.91%16.93%17.58%18.93%16.41%17.84%20.29%+271 bps
Equity / Assets8.69%9.12%9.67%10.22%9.79%16.75%17.06%17.66%+744 bps
Liquidity & Funding
Loans / Deposits44.23%46.71%43.88%46.22%41.22%42.85%42.13%42.83%-339 bps
Liquid Assets / Assets22.42%24.09%26.54%25.32%34.15%17.02%18.30%18.35%-697 bps
CRE / Total Capitaln/an/an/an/a149.32%159.99%151.45%n/an/a