Mercantile Bank of Michigan is headquartered in Grand Rapids and is the 2nd largest bank in the state of Michigan. It is also the 267th largest bank in the nation. It was established in 1997 and as of December of 2021, it had grown to 627 employees at 43 locations. Mercantile Bank of Michigan has an A+ health rating.
Not only are the workers in this bank very friendly to me but they remember me, even though I don't come in frequently.
One time I had an issue with a large check that I needed to deposit and things got off to a rough start when they refused to take the check because the amount was so large. After speaking with the branch manager she was willing to work with me and deposit the check. I did have to wait seven days for my funds to become fully available but the process was clearly explained to me and everything was resolved to my satisfaction. I do admit that when things became difficult at the initial refusal that I was fairly irritated by it. I was concerned how a bank could refuse to take a check that was good. There was a hang up between the bank that the check was written on and my bank with some finger pointing as to whether the other bank was providing sufficient information to my bank to deposit the check but since it all worked out in the end I am willing to look past that. I have been a customer of this bank for over three years now and am very happy with their service outside of this one incident. I really feel like they care about me as a customer.
Poor customer service with no help for fraudulent charges or scam companies which are the norm in the ecommerce days they are no help and just act like you are the problem so there are better institutions with much better policies to handle your money..
Overall | |
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FDIC Certificate # | 34598 |
Year Established | 1997 |
Employees | 627 |
Primary Regulator | FDIC |
Profit Margin | |
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Return on Assets - YTD | 1.35% |
Return on Equity - YTD | 13.44% |
Annual Interest Income | $143.5MM |
Assets and Liabilities | ||
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Assets | Q4 2021vs Q4 2020 | $5.24B$4.42B |
Loans | Q4 2021vs Q4 2020 | $3.43B$3.18B |
Deposits | Q4 2021vs Q4 2020 | $4.10B$3.42B |
Equity Capital | Q4 2021vs Q4 2020 | $545.7MM$458.8MM |
Loan Loss Allowance | Q4 2021vs Q4 2020 | $35.4MM$38.0MM |
Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $2.5MM$3.4MM |
Real Estate Owned | Q4 2021vs Q4 2020 | $0$701.00K |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.