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Displaying items by tag: Mercantile Bank Corp

Sunday, 02 August 2020 16:20

Bracing for more economic fallout, West Michigan banks boost loan-loss reserves

Given how hard the economy fell in the second quarter, earnings for West Michigan-based banks held up relatively well, although they were primarily lower than a year earlier as banks set aside more in reserve to cover potential future loan losses.

Published in Finance
Tuesday, 21 July 2020 12:16

Mercantile Bank beefs up loan-loss reserves to brace for weaker economy

GRAND RAPIDS — Mercantile Bank Corp. reported lower earnings for the second quarter, partly from increasing loan-loss reserves in light of “weakened economic conditions” resulting from the COVID-19 pandemic.

Published in Finance
Sunday, 07 June 2020 17:45

Restrictions in Fed’s Main Street Lending Program could limit appeal

The Federal Reserve Bank’s $600 billion Main Street Lending Program promises to offer small and mid-sized businesses hurt financially by the COVID-19 pandemic with another option to access credit and operating capital. 

Published in Finance

Sunday, 26 April 2020 17:46

TRIAL BY FIRE: SBA races to provide relief to small businesses, but some hiccups remain

The sheer volume of small businesses that have sought federal relief loans illustrates the depth and scope of the economic pain brought on by the COVID-19 pandemic.

Published in Small Business
Wednesday, 22 April 2020 08:25

Mercantile Bank in ‘extremely solid’ position to weather economic turbulence

GRAND RAPIDS — Mercantile Bank Corp. reported lower earnings to start 2020 and sits in an “extremely solid” condition for the economic downturn brought on by the COVID-19 pandemic.

Published in Finance
Sunday, 29 March 2020 17:15

Banks leverage new flexibility to help businesses get through pandemic

Small businesses that have been slammed by the coronavirus pandemic and expect to have difficulty making commercial loan payments should call their bankers now to work out possible adjustments.

Published in Finance


Tuesday, 21 January 2020 11:31

Mercantile reports earnings, loan growth

GRAND RAPIDS — Mercantile Bank Corp. grew earnings for the fourth quarter and all of 2019.

Published in Finance
Friday, 03 January 2020 17:07

Bank execs could face fewer deal prospects in 2020

Bank M&A may ease in 2020, as fewer executives surveyed by the trade publication Bank Director view the market as favorable for deals.

Published in Finance
Tuesday, 15 October 2019 11:44

Mercantile Bank cites ‘solid’ loan growth through third quarter

GRAND RAPIDS — Mercantile Bank Corp. maintained solid growth and earnings through the third quarter.

Published in Finance

Sunday, 04 August 2019 19:29

Charter Capital targets $100 million for new mezz fund

GRAND RAPIDS — A new mezzanine fund based in Grand Rapids seeks to raise $100 million to invest in growing companies, MiBiz has learned.

Published in Finance
Sunday, 04 August 2019 17:37

Chemical Bank merger closes, ChoiceOne deal awaits shareholder votes

As one bank merger affecting the West Michigan marketplace focuses on integration, another much smaller deal heads toward shareholder votes next month.

Published in Finance
Tuesday, 16 July 2019 11:29

Buoyed by strong second quarter, Mercantile Bank expects solid second half of 2019

GRAND RAPIDS — Mercantile Bank Corp. today reported strong results for the second quarter, setting up the second half of 2019 for continued growth.

Published in Finance


Tuesday, 16 April 2019 15:58

Mercantile Bank continues streak of growth in earnings, loans

Mercantile Bank Corp. began 2019 with higher earnings and strong loan growth that it expects to continue through the year.

Published in Finance
Sunday, 17 February 2019 17:56

Growing Mercantile Bank expands Grand Rapids HQ

GRAND RAPIDS — Steady growth led Mercantile Bank Corp. to proceed with an addition at its corporate headquarters. Rising on the south side of the headquarters building at Leonard Street and U.S. 131 in Grand Rapids, the three-story, 25,000-square-foot addition will enable Mercantile Bank to bring together commercial banking teams and support staff — lenders, treasury and credit analysts — at one location.

Published in Finance
Wednesday, 23 January 2019 10:36

Mercantile Bank posts strong earnings and loan growth for fourth quarter

Mercantile Bank Corp. recorded strong earnings and loan growth to end 2018, a trend executives expect should continue into 2019.

Published in Finance

Sunday, 28 October 2018 15:26

State extends funding to pair of capital funds

The Michigan Strategic Fund steered additional money into two capital funds that support high-tech startups and growing small businesses in the state.

The Invest Michigan Pre-Seed Fund II received $3 million to invest in startups through loans or equity. Grow Michigan LLC will receive $9.6 million for a second mezzanine-style fund that will provide loans to growing small businesses.

Published in Small Business
Tuesday, 16 October 2018 12:31

Mercantile Bank earnings soar 20 percent in third quarter

Mercantile Bank Corp. grew third quarter earnings by more than 20 percent compared to a year ago.

Published in Finance
Friday, 12 October 2018 18:57

PE firm Auxo acquires SE Michigan stamping manufacturer

Private equity firm Auxo Investment Partners has completed its fifth acquisition in 13 months with a deal for a Warren-based stamping manufacturer.

Published in Manufacturing

Tuesday, 07 August 2018 10:49

Grand Rapids-based Auxo Investment Partners acquires Williamston-based die manufacturer

GRAND RAPIDS — Manufacturer Midway Rotary Die Solutions has sold to a West Michigan-based private equity firm.

Published in Breaking News
Tuesday, 17 July 2018 09:32

Mercantile reports higher second quarter earnings, aided by lower federal tax rate

Mercantile Bank Corp. today reported higher earnings for the second quarter and first half of 2018.

Published in Breaking News
Saturday, 07 July 2018 16:26

Initiatives offer loan assistance for urban small businesses

A pair of initiatives across Southwest Michigan have a similar goal: supporting entrepreneurs starting small businesses in their respective cities and urban cores. 

Published in Finance

Saturday, 07 July 2018 12:23

Cautious and appropriate: Businesses slow to take on debt, even as optimism grows, bankers say

Despite strong business optimism and continued economic expansion, bankers say they still see their West Michigan business clients taking a cautious approach to debt.

Published in Finance
Tuesday, 17 April 2018 15:00

Mercantile Bank sees increased earnings in first quarter

A lower federal tax rate and collecting on problem commercial loans helped boost Mercantile Bank Corp.’s earnings for the first quarter.

Published in Breaking News
Sunday, 15 April 2018 20:31

Banks, credit unions unite in support of regulatory reform bill

Executives at banks and credit unions across Michigan found common ground in advocating for legislation to ease federal regulations they say hurt smaller financial institutions and their ability to lend.

Published in Finance

Tuesday, 16 January 2018 13:19

Mercantile Bank posts lower earnings for 2017 amid ‘solid performance,’ loan growth

Mercantile Bank recorded slightly lower earnings for 2017, although executives say they’re satisfied with the bank’s performance.

Published in Breaking News
Sunday, 07 January 2018 00:38

After a pause in 2017, bank M&A expected to pick up

John Donnelly considers Independent Bank Corp.’s proposed $63.1 million deal to buy Traverse City-based TCSB Bancorp Inc. as indicative of the bank mergers likely to occur in Michigan next year.

Published in Finance
Sunday, 24 December 2017 17:22

2018 Outlook: Robert Kaminski, Mercantile Bank Corp.

The further the U.S. gets from the last downturn, the greater the likelihood that another challenge will eventually “rear its head again,” says Mercantile Bank Corp. President and CEO Robert Kaminski. Yet as 2018 approaches, Kaminski doesn’t see any warnings signs from the Grand Rapids-based bank’s clients that portend a downturn is imminent. Instead, he expects the U.S. economy to stay on track.

Published in Economic Development

Sunday, 24 December 2017 17:10

2018 banking outlook: Easing regulations, preparing clients for future cycles

Many of the forces that affected banks in 2017 — from rising interest rates and a good economy, to balancing digital technology investments with cybersecurity — remain the top issues bankers must manage in the year ahead.

Published in Economic Development
Tuesday, 17 October 2017 11:54

Mercantile Bank reports better than expected third quarter performance

Mercantile Bank Corp. today reported higher quarterly earnings.

Published in Breaking News
Sunday, 03 September 2017 16:37

Developers slow to build new condos in downtown Grand Rapids

GRAND RAPIDS — Citing demand for more diverse housing products, developers cautiously have started exploring whether to market new condominiums for sale in Grand Rapids’ downtown district.


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