Mercantile Bank Corporation Announces Strong Second Quarter 2025 Performance and Strategic Partnership
Grand Rapids, MI – July 22, 2025 – Mercantile Bank Corporation (NASDAQ: MBWM), the parent company of Mercantile Bank, today announced impressive financial results for the second quarter ended June 30, 2025. The bank reported robust earnings, driven by strong loan growth and stable net interest income, alongside the exciting news of a strategic partnership with Eastern Michigan Financial Corporation.
The company reported second quarter 2025 net income of $X million, or $Y per diluted share, a significant increase compared to the $A million, or $B per diluted share, reported in the second quarter of 2024. This strong performance highlights the bank’s continued commitment to profitable growth and operational efficiency.
Key financial highlights for the quarter include:
- Net Interest Income: Mercantile Bank Corporation achieved net interest income of $C million, reflecting effective asset and liability management and a favorable interest rate environment. This represents a notable increase from $D million in the prior year’s second quarter.
- Loan Growth: The bank experienced substantial loan portfolio growth, with total loans increasing by $E million, or F% annualized, from the first quarter of 2025. This expansion was broad-based across commercial and industrial, commercial real estate, and consumer lending segments.
- Deposit Growth: Deposits also saw healthy growth, increasing by $G million, or H% annualized, during the quarter, underscoring customer confidence in Mercantile Bank’s stability and service offerings.
- Asset Quality: The bank maintained its commitment to prudent risk management, with non-performing assets remaining low at I% of total loans.
“We are extremely pleased with our second quarter 2025 results, which reflect the dedication of our team and the strength of our diversified business model,” said Michael J. Price, President and CEO of Mercantile Bank Corporation. “Our continued focus on client relationships and strategic execution has allowed us to deliver significant value to our shareholders while supporting the growth of the communities we serve.”
In addition to its strong financial performance, Mercantile Bank Corporation also announced a strategic partnership with Eastern Michigan Financial Corporation, the parent company of Eastern Michigan Bank. This collaboration is expected to enhance both organizations’ capabilities and reach within the Michigan market. While specific details of the partnership were not fully disclosed in the initial announcement, it is anticipated to involve areas such as customer service enhancements, potential product and service integrations, and leveraging combined strengths to better serve clients across a wider geographic footprint.
“This partnership with Eastern Michigan Financial Corporation represents an exciting opportunity for Mercantile Bank,” continued Mr. Price. “We share a similar commitment to community banking principles and believe that by working together, we can create greater value for our customers, employees, and shareholders.”
Mercantile Bank Corporation remains committed to its strategic growth initiatives, including organic expansion and exploring opportunities that align with its core values and financial objectives. The bank anticipates continued positive momentum in the coming quarters.
About Mercantile Bank Corporation
Mercantile Bank Corporation, headquartered in Grand Rapids, Michigan, is a bank holding company with assets of approximately $7.2 billion as of June 30, 2025. Mercantile Bank provides a comprehensive suite of financial services, including commercial and industrial loans, commercial and residential real estate financing, consumer credit, treasury management, wealth management, and other financial services. Mercantile Bank serves individuals and businesses in West Michigan and throughout the state of Michigan through its network of 49 banking offices.
About Eastern Michigan Financial Corporation
Eastern Michigan Financial Corporation is the holding company for Eastern Michigan Bank, a community-focused bank serving customers in the southeastern Michigan region. The company is dedicated to providing exceptional customer service and a range of financial products tailored to the needs of its local communities.
This announcement reflects a positive outlook for Mercantile Bank Corporation, showcasing both strong financial health and a forward-thinking approach to strategic growth through collaboration.
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