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Mercantile Bank Corporation Honored with M&A Deal of the Year Award

Mercantile Bank Corporation, based in Grand Rapids, Michigan, has earned the prestigious title of M&A Deal of the Year by Crain's Grand Rapids Business for the year 2026. This accolade highlights the successful acquisition of Eastern Michigan Financial Corporation, which was finalized on December 31, 2025. Such recognition underscores Mercantile's influence in the finance and banking sector.

Significance of the Award

The Crain's M&A Awards are designed to acknowledge the sophistication and high-caliber transactions that characterize West Michigan's deal-making landscape. A focal point of this year's awards was the transformational effects of Mercantile’s acquisition, which is noted for its strong financial performance and dedication to local leadership while simultaneously creating broader opportunities across the state of Michigan.

The cash-and-stock transaction, valued at about $95.8 million, marked a significant moment in the financial industry by uniting two Michigan-based institutions that share common values and a significant commitment to their communities. Following the completion of the acquisition, the newly-formed organization boasted combined assets totaling $6.8 billion, solidifying Mercantile's status as the largest bank fully founded, headquartered, and operated in Michigan based on total assets.

Leadership's Perspective

Ray Reitsma, President and CEO of Mercantile Bank Corporation, expressed gratitude for receiving such recognition from Crain’s. He commented, "We are proud of what our teams accomplished together, reflecting both the strategic intent behind this partnership and the disciplined execution that transformed it into reality. By merging these entities with deep Michigan roots and robust deposit franchises, we are better equipped to support our customers and communities while driving significant value for our shareholders."

The merger has substantially enhanced Mercantile's operational footprint throughout Michigan, allowing for a robust funding position that will enable greater efficiency in deploying capital. This growth is directed toward supporting small and mid-sized enterprises, expanding community development lending, and maintaining the relationship-driven banking model that clients cherish.

Commitment to Local Communities

A critical priority during this acquisition was the preservation of local leadership and decision-making structures. This commitment ensures continuity for both customers and the communities served by the combined banking institution. The M&A transaction signifies not just a financial maneuver but a commitment to strengthening the economic fabric of Michigan.

Looking Ahead: Sustaining Growth

Crain's M&A Awards bring attention to transactions that not only bolster the local business ecosystem but also pave the way for future growth. Mercantile's recognition exemplifies a dexterous blend of strategic acumen, stellar financial performance, and an unwavering dedication to sustaining banking in Michigan for generations to come.

About Mercantile Bank Corporation

Mercantile Bank Corporation, headquartered in Grand Rapids, serves as the parent company for both Mercantile Bank and Eastern Michigan Bank. Together, these financial institutions provide a diverse range of products and services designed to facilitate easier banking for businesses, individuals, and local government bodies. Distinguished by exceptional service and a knowledgeable staff, Mercantile and Eastern Michigan Bank have emerged as a leading financial organization in Michigan, bolstered by combined assets nearing $6.8 billion. The corporation's stock is publicly traded on the NASDAQ Global Select Market under the symbol "MBWM."

For additional information on Mercantile, visit www.mercbank.com and follow on social media platforms including Facebook, Instagram, Twitter, and LinkedIn.