TellerScore

Headquartered in Grand Rapids, Michigan, Mercantile Bank is a state-chartered bank with $6.2B in total assets and $4.9B in deposits as of Q2 2026. It operates 41 offices. Its charter dates back to 1997.

Mercantile Bank has a TellerScore of 73 out of 100 (strong) based on Q2 2026 data — higher than 70% of its 897 banks with $1 billion – $10 billion. Among 72 banks headquartered in Michigan, it ranks 25th. Problem-loan coverage contributes the most (99/100, 0.6%); funding & liquidity contributes the least (18/100, 95% loans-to-deposits, 57% uninsured).

TellerScore · Q2 2026

Scorecard

Capital cushion66/100
Tier 1 leverage ratio: 11.61%
Loan quality97/100
Noncurrent loans ÷ total loans: 0.10%
Earnings84/100
Return on assets (annualized): 1.61%
Funding & liquidity18/100
Loans ÷ deposits and uninsured-deposit share: 95.4% · 57.5% uninsured
Problem-loan coverage99/100
"Texas ratio": (noncurrent loans + foreclosed property) ÷ (equity + loan-loss reserves): 0.58%

The TellerScore is our own summary of the figures this institution reports publicly; it is not issued or endorsed by any government agency. It is not a prediction, and deposits within insurance limits are protected either way.

9 quarters

Health trend

The score has been essentially flat from Q2 2025 to Q2 2026 (74 → 73).

TellerScore
737475Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
Show as table
QuarterTellerScore
Q2 202475
Q3 202474
Q4 202474
Q1 202573
Q2 202574
Q3 202574
Q4 202573
Q1 202673
Q2 202673
Tier 1 leverage ratio
5.00%8.61%12.22%well-capitalized benchmarkQ2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterTier 1 leverage ratio
Q2 202412.22%
Q3 202411.99%
Q4 202411.86%
Q1 202511.79%
Q2 202511.98%
Q3 202511.75%
Q4 202511.54%
Q1 202611.57%
Q2 202611.61%
Noncurrent loans
0.10%0.16%0.22%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterNoncurrent loans
Q2 20240.20%
Q3 20240.22%
Q4 20240.12%
Q1 20250.12%
Q2 20250.21%
Q3 20250.21%
Q4 20250.15%
Q1 20260.15%
Q2 20260.10%
Return on assets
1.48%1.58%1.69%Q2 2024Q4 2024Q2 2025Q4 2025Q2 2026
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QuarterReturn on assets
Q2 20241.69%
Q3 20241.64%
Q4 20241.59%
Q1 20251.48%
Q2 20251.57%
Q3 20251.62%
Q4 20251.61%
Q1 20261.51%
Q2 20261.61%
Quarter-by-quarter figures
QuarterScoreAssetsCapitalProblem loansROALoans/deposits
Q2 202673$6.2B11.61%0.10%1.61%95.4%
Q1 202673$6.4B11.57%0.15%1.51%91.0%
Q4 202573$6.2B11.54%0.15%1.61%93.5%
Q3 202574$6.2B11.75%0.21%1.62%94.6%
Q2 202574$6.1B11.98%0.21%1.57%98.7%
Q1 202573$6.1B11.79%0.12%1.48%97.8%
Q4 202474$6.0B11.86%0.12%1.59%96.7%
Q3 202474$5.9B11.99%0.22%1.64%101.2%
Q2 202475$5.5B12.22%0.20%1.69%105.8%

897 peers · $1 billion – $10 billion

How it compares with peers

Percentile against banks of similar size nationwide (100th = best among peers; for ratios where lower is better, the scale is flipped).

Capital ratio11.61%
72nd
Total risk-based capital13.54%
48th
Problem loans0.10%
88th
Net charge-offs-0.03%
97th
Return on assets1.61%
75th
Net interest margin3.57%
41st
Efficiency ratio54.9%
63rd
Loans to deposits95.4%
25th
Uninsured deposits57.5%
5th
Loan-loss reserves1.12%
46th
Texas ratio0.6%
89th

Similar-size banks in Michigan

InstitutionScoreAssetsCapitalProblem loansCompare
First National Bank of AmericaBank East Lansing, MI51 out of 100, Below average$6.8B8.1%1.90%vs
Independent BankBank Grand Rapids, MI63 out of 100, Moderate$5.7B9.7%0.99%vs
Northpointe BankBank Grand Rapids, MI58 out of 100, Moderate$7.5B9.5%1.23%vs
ChoiceOne BankBank Sparta, MI61 out of 100, Moderate$4.5B9.3%1.00%vs
Macatawa Bank, National AssociationBank Holland, MI76 out of 100, Strong$3.7B10.7%0.08%vs
Bank of Ann ArborBank Ann Arbor, MI82 out of 100, Strong$3.5B13.2%0.27%vs

Deposit insurance

Is my money safe at Mercantile Bank?

Yes. Mercantile Bank is an FDIC-insured institution (FDIC certificate #34598). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

An estimated 57.5% of deposits ($2.8B) are above the $250,000 FDIC insurance limit, above the peer median of 31%. Insured balances are protected regardless of the score.

The tier 1 leverage ratio is 11.61%, well above the 5% level regulators use as the "well capitalized" benchmark for this measure. Its total risk-based capital ratio is 13.54% (benchmark: 10%).

Check how much of your own balance is covered

41 locations

Branches

Mercantile Bank lists 33 offices in 28 cities. Most locations:

All branch addresses and map

HMDA 2025

Mortgage lending

In 2025, Mercantile Bank reported 3,042 home-loan applications under HMDA (LEI RM2F4G3WBQ8R9OKYRH19): 2,129 originated ($622,015,000 total), 384 denied, and 516 withdrawn or closed by the applicant. Its denial rate on decided applications was 15.2%, compared with 22.2% for all lenders nationwide.

Denial rates depend heavily on loan type and applicant mix and are not a measure of fairness or of your own odds.

Identity & history

Profile

Legal name
Mercantile Bank
Former names
Mercantile Bank of Michigan; Mercantile Bank of West Michigan
Type
State-chartered bank
FDIC certificate #
34598
RSSD ID
2608754
Primary regulator
FDIC
Holding company
Mercantile Bank Corp
Established
December 15, 1997
Headquarters
310 Leonard St Nw, Grand Rapids, MI 49504
Employees
741

Quick answers

Mercantile Bank: common questions

Is Mercantile Bank FDIC insured?

Yes. Mercantile Bank is an FDIC-insured institution (FDIC certificate #34598). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category.

What is Mercantile Bank's TellerScore?

73 out of 100 (Strong), based on its Q2 2026 publicly reported figures. The TellerScore is our own summary and is not issued by any government agency.

Has Mercantile Bank ever failed?

There is no failure record for FDIC certificate #34598 in the FDIC failed bank list.

How many branches does Mercantile Bank have?

41 offices as of the latest FDIC data.

Nearby

Highest-scoring banks and credit unions with branches near Grand Rapids

InstitutionScoreAssetsCapitalProblem loansCompare
Total Community Credit UnionCredit union Taylor, MI97 out of 100, Very strong$111.3M15.3%0.36%vs
Allegheny Central Federal Credit UnionCredit union Dunbar, PA95 out of 100, Very strong$8.2M20.8%0.18%vs
Aac Credit UnionCredit union Grand Rapids, MI90 out of 100, Very strong$212.4M24.2%0.36%vs
Preferred Credit UnionCredit union Grand Rapids, MI87 out of 100, Very strong$318.1M14.3%0.37%vs
Gr Consumers Credit UnionCredit union Wyoming, MI86 out of 100, Very strong$52.0M16.6%0.16%vs
Blue Water Federal Credit UnionCredit union Port Huron, MI86 out of 100, Very strong$20.4M14.4%0.23%vs