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MacDonald Richard D reported acquisition or exercise transactions in this Form 4 filing.
MERCANTILE BANK CORP director Richard D. MacDonald received a grant of 715 shares of Common Stock on May 22, 2026. The shares were awarded at a price of $0.00 per share, indicating a compensation-related grant rather than an open-market purchase. Following this award, he directly holds 3,289 shares of the company’s common stock. This is a routine equity compensation transaction and not a market trade.
MERCANTILE BANK CORP director Shoran R. Williams received a stock grant. On May 22, 2026, Williams acquired 715 shares of Mercantile Bank Corp common stock at a stated price of $0.00 per share, recorded as a grant or award rather than an open-market purchase.
After this compensation-related award, Williams directly holds 5,981 common shares. The filing does not show any sales or option exercises, only this non-cash share acquisition that increases the director’s equity stake.
Mercantile Bank Corp director Amy L. Sparks received 906 shares of Common Stock as a grant or award. The shares were acquired at no stated price on May 22, 2026, bringing her direct holdings to 6,489 shares. A footnote explains that this total includes shares accumulated by reinvesting cash dividends under a dividend reinvestment plan, indicating a mix of compensation-related awards and automatic reinvestments rather than open-market purchases.
Mercantile Bank Corporation reported the results of its Annual Meeting of shareholders held on May 21, 2026. Shareholders elected twelve directors, each receiving over 10.6 million votes in favor, with relatively small withheld votes and 2,447,511 broker non-votes recorded for each nominee.
Shareholders also ratified the appointment of Plante & Moran, PLLC as the independent registered public accounting firm for 2026 with 13,471,113 votes for, 54,526 against, and 9,505 abstentions. In addition, an advisory vote to approve the compensation of named executive officers passed with 10,539,827 votes for, 323,243 against, 224,563 abstentions, and 2,447,511 broker non-votes.
Wellington Management group filed a Schedule 13G reporting shared beneficial ownership of 1,189,031 shares of Mercantile Bank Corporation common stock, representing 6.9% of the class as of 03/31/2026. The filing lists multiple Wellington entities and states these shares are owned of record by clients of Wellington investment advisers.
The cover responses show shared voting power and shared dispositive power across the named Wellington entities; signatures are dated 05/15/2026.
Mercantile Bank Corporation reported stronger results for the quarter ended March 31, 2026. Net income rose to $22.7 million from $19.5 million a year earlier, and diluted earnings per share increased to $1.32 from $1.21. Net interest income improved to $55.9 million, helped by lower interest expense, while provision for credit losses swung to a negative $1.8 million, reflecting improved credit expectations. Noninterest income grew to $11.7 million, but noninterest expenses increased to $42.1 million, driven by $2.9 million in core conversion costs and $0.3 million in acquisition costs tied to the Eastern Michigan Bank merger. Total assets reached $6.95 billion and deposits grew to $5.42 billion, while loans were essentially flat at $4.82 billion and nonaccrual loans remained low at $7.5 million.
Mercantile Bank Corporation reported stronger first quarter 2026 results, with higher earnings and solid asset quality. Net income rose to $22.7 million, or $1.32 per diluted share, from $19.5 million, or $1.21, a year earlier. On a non-GAAP basis excluding one-time acquisition and core system conversion costs, net income was $25.2 million, or $1.46 per diluted share, about 21 percent higher than the prior-year quarter.
Net revenue reached $67.6 million, up 18.1 percent, driven by $55.9 million of net interest income and $11.7 million of noninterest income, including strong treasury management, swap, mortgage banking, and card fee growth. The net interest margin improved to 3.55 percent as the cost of funds fell to 1.87 percent. Total assets grew to $6.95 billion, deposits to $5.42 billion, and the loan-to-deposit ratio declined to 89 percent. Asset quality remained strong, with nonperforming assets at $7.5 million, or 0.11 percent of total assets, and net loan recoveries in the quarter.
Mercantile Bank Corporation is holding its 2026 annual meeting of shareholders as a virtual-only webcast on May 21, 2026 at 9:00 a.m. Eastern Time. Shareholders of record at the close of business on March 27, 2026, when 17,274,899 common shares were outstanding, are entitled to vote.
Investors are being asked to elect twelve directors for one-year terms, ratify Plante & Moran, PLLC as independent auditor for 2026, and approve on an advisory basis the compensation of named executive officers. The Board highlights that 92% of directors are independent, the Chair and CEO roles are separated, and about 58% of directors reflect racial or gender diversity. Executive pay is structured with base salary, short- and long-term incentives, and equity awards tied to multi-metric performance plans focused on earnings, returns and efficiency.
The Vanguard Group filed Amendment No. 2 on Schedule 13G/A reporting zero beneficial ownership of Mercantile Bank Corp common stock following an internal realignment effective January 12, 2026. The filing states certain subsidiaries or business divisions will report ownership separately in reliance on SEC Release No. 34-39538.
The filing is signed by Ashley Grim, Head of Global Fund Administration, on March 27, 2026, and lists 0 shares and 0% ownership, including vote and dispositive powers.