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Mercantile Bank
Grand Rapids, MI·FDIC Cert #34598·Charter: STATE·Est. 19971215.0·HC: MERCANTILE BANK CORP
Total Assets
$6.2B
Q4 2025
Return on Assets
1.61%
-0.01%Peer avg: 1.21%
Equity / Assets
0.00%
Capital ratio
Efficiency Ratio
50.71%
Peer avg: 57.4%
CAMELS Profile
Capital, Asset Quality, Management, Earnings, Liquidity, Sensitivity
60
Satisfactory
Income Decomposition
Waterfall — how net income is built
Key Ratios — 12-Quarter Trend
ROA
1.61%-0.01
ROE
13.86%-0.07
Efficiency
50.71%+0.31
Equity/Assets
0.00%+0.00
NPL Ratio
0.15%-0.07
Tier 1 Leverage
0.00%+0.00
Loan/Deposit
93.54%-1.02
Charge-offs
0.04%+0.06
Quarter-over-Quarter Changes
Heatmap — green = improving, red = deteriorating
| Ratio | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 |
|---|---|---|---|---|---|---|---|---|
| ROA | 1.8 | 1.7 | 1.6 | 1.6 | 1.5 | 1.6 | 1.6 | 1.6 |
| ROE | 15.4 | 14.3 | 14.0 | 13.6 | 12.9 | 13.6 | 13.9 | 13.9 |
| Efficiency | 47.3 | 48.1 | 49.2 | 50.3 | 51.2 | 50.5 | 50.4 | 50.7 |
| Equity/Assets | — | — | — | — | — | — | — | — |
| Tier 1 Lev. | — | — | — | — | — | — | — | — |
| NPL Ratio | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 |
| Charge-offs | -0.0 | -0.0 | -0.0 | 0.1 | -0.0 | -0.0 | -0.0 | 0.0 |
| Loan/Deposit | 106.5 | 105.8 | 101.2 | 96.7 | 97.8 | 98.7 | 94.6 | 93.5 |
Balance Sheet
Total Assets$6.2B
Total Deposits$4.9B
Total Loans$4.6B
Total Equity$725.8M
Profitability
ROA1.61%
ROE13.86%
Efficiency Ratio50.71%
Net Income$98.7M
Risk & Asset Quality
NPL Ratio0.15%
Charge-off Rate0.04%
Loan/Deposit93.54%
Tier 1 LeverageN/A
Historical Trends
Balance Sheet ($B)
Assets, Deposits, Loans
Profitability Ratios
ROA, ROE (%)
Efficiency Ratio
Lower = more efficient
Asset Quality — NPL Ratio
Non-performing loans / total loans