GRAND RAPIDS — Mercantile Bank Corp. plans to open a commercial loan office in Troy that will eventually grow to a full-service branch.
The Grand Rapids-based Mercantile Bank hired a veteran commercial lender, Violet Gintsis, to lead the lending office. Gintsis previously served as senior vice president of commercial banking at Farmington Hills-based Level One Bank.
“This is a great opportunity for Mercantile to bring our brand of customer-relationship focused banking to a new and growing market,” Mercantile Bank CEO Robert Kaminski said in a statement. “The greater Detroit area is a logical extension of Mercantile’s current service area, and we are encouraged by the strength of the region’s economy and business environment.”
Mercantile presently has 48 offices in central and western Lower Peninsula. The bank ended 2016 with total assets of $3.08 billion, a 6.2-percent increase from a year earlier.
The new commercial loan office in Troy represents a return to the Detroit-area market for Mercantile Bank, which previously had an office in Novi. The bank closed that office, as well as a location in Ann Arbor, in 2009 during the recession.