Featured Savings Rates
Featured Accounts

Mercantile Bank of Michigan

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.55%5-year CD60 Month CD
0.50%1-year CD12 Month CD
0.10%SavingsCommunity Savings

Overview / Commentary
616-406-3604
310 Leonard Street Nw
Grand Rapids, MI 49504

Mercantile Bank of Michigan is headquartered in Grand Rapids and is the 4th largest bank in the state of Michigan. It is also the 291st largest bank in the nation. It was established in 1997 and as of March of 2016, it had grown to 612 employees at 50 locations. Mercantile Bank of Michigan has an A health rating.

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Health
A

Health Grade Components

Overall
FDIC Certificate #34598
Year Established1997
Employees612
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD7.97%
Annual Interest Income$28.9MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$2.91B$2.86B
LoansQ1 2016vs Q1 2015$2.28B$2.10B
DepositsQ1 2016vs Q1 2015$2.27B$2.28B
Equity CapitalQ1 2016vs Q1 2015$363.8MM$364.6MM
Loan Loss AllowanceQ1 2016vs Q1 2015$16.3MM$21.1MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$7.2MM$30.7MM
Real Estate OwnedQ1 2016vs Q1 2015$1.5MM$1.7MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Mercantile Bank of Michigan Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$15k*-HSA Checking
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $15k
0.15%*$100k*-IRA Saving
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $100k
0.10%--Community Savings
0.10%--Student Savings

Mercantile Bank of Michigan Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*$100k*-Personal Money Market
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $100k

Mercantile Bank of Michigan Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$25k*-High Yield Checking
OTHER TIERS: 0.05% $2,500 - $25k
0.05%$1k-Interest Checking

Mercantile Bank of Michigan CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.60%$100k-60 Months Jumbo CD
1.55%$500-60 Month CD
1.55%$500-60 Month HSA CD
1.25%$100k-48 - 59 Months Jumbo CD
1.20%$500-48 Month CD
1.20%$500-48 Month HSA CD
0.95%$100k-36 - 47 Months Jumbo CD
0.90%$500-36 Month CD
0.90%$500-36 Month HSA CD
0.70%$500-28 Month Flex CD
0.65%$100k-24 - 35 Months Jumbo CD
0.60%$500-24 Month CD
0.60%$500-24 Month HSA CD
0.60%$100k-13 - 23 Months Jumbo CD
0.55%$500-18 Month CD
0.55%$500-18 Month HSA CD
0.55%$100k-270 - 365 Days Jumbo CD
0.50%$500-12 Month CD
0.50%$500-12 Month HSA CD
0.20%$100k-180 - 269 Days Jumbo CD
0.15%$500-6 Month CD
0.15%$500-6 Month HSA CD
0.15%$100k-60 - 89 Days Jumbo CD
0.15%$100k-90 - 179 Days Jumbo CD
0.10%$500-3 Month CD
0.10%$500-3 Month HSA CD
0.10%$100k-30 - 59 Days Jumbo CD
0.05%$500-1 Month CD
0.05%$500-1 Month HSA CD
0.05%$100k-14 - 29 Days Jumbo CD

Mercantile Bank of Michigan IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.60%$100k-60 Months Jumbo IRA
1.55%$500-60 Month IRA
1.25%$100k-48 - 59 Months Jumbo IRA
1.20%$500-48 Month IRA
0.95%$100k-36 - 47 Months Jumbo IRA
0.90%$500-36 Month IRA
0.65%$100k-24 - 35 Months Jumbo IRA
0.60%$500-24 Month IRA
0.60%$100k-13 - 23 Months Jumbo IRA
0.55%$500-18 Month IRA
0.55%$100k-270 - 365 Days Jumbo IRA
0.50%$500-12 Month IRA
0.20%$100k-180 - 269 Days Jumbo IRA
0.15%$500-6 Month IRA
0.15%$100k-60 - 89 Days Jumbo IRA
0.15%$100k-90 - 179 Days Jumbo IRA
0.10%$500-3 Month IRA
0.10%$100k-30 - 59 Days Jumbo IRA
0.05%$500-1 Month IRA
0.05%$100k-14 - 29 Days Jumbo IRA
Locations

Mercantile Bank of Michigan has 48 locations. Click to view all Mercantile Bank of Michigan locations.