Mercantile Bank Corporation Named Crain’s Grand Rapids Business M&A Deal of the Year in Finance and Banking

GRAND RAPIDS, Mich. — March 17, 2026 — Mercantile Bank Corporation (“Mercantile”) has been recognized by Crain’s Grand Rapids Business with a 2026 M&A Award for Deal of the Year in the Finance and Banking category. The award highlights the company’s successful acquisition of Eastern Michigan Financial Corporation, which closed on December 31, 2025.

Crain’s M&A Awards celebrate the sophistication and caliber of West Michigan dealmaking, recognizing transactions that drive innovation, resilience, and long‑term economic growth. Mercantile’s acquisition of Eastern Michigan Financial Corporation was selected for its transformational impact, strong financial performance, and commitment to preserving local leadership while expanding opportunity across Michigan.

The cash and stock transaction, valued at approximately $95.8 million, combined two Michigan‑founded financial institutions with shared values and a deep commitment to serving families, businesses, and communities. As of closing, the combined organization reported $6.8 billion in total assets, strengthening Mercantile’s position as the largest bank founded, headquartered, and operated in Michigan by total assets.

“We’re grateful to Crain’s Grand Rapids for this recognition and proud of what our teams accomplished together, which reflects both the strategic intent behind this partnership and the disciplined execution that brought it to life,” said Ray Reitsma, President and Chief Executive Officer of Mercantile. “By bringing together two institutions with strong deposit franchises, shared values, and deep Michigan roots, we enhanced our ability to support businesses, families, and communities across the state while creating meaningful and long-term value for our shareholders.”

The acquisition expanded Mercantile’s statewide footprint and a strengthened funding position to enable Mercantile to deploy capital more efficiently, support small and mid‑sized businesses, expand community development lending, and maintain the relationship‑based banking model valued by its customers. Importantly, the transaction preserved local leadership and decision‑making, ensuring continuity for customers and communities served.

Crain’s M&A Awards spotlight transactions that strengthen West Michigan’s business ecosystem and set the stage for future growth. Mercantile’s Deal of the Year recognition reflects a combination of financial performance, strategic foresight, and a commitment to sustaining Michigan‑based banking for generations to come.

About Mercantile Bank Corporation

Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank and Eastern Michigan Bank. Mercantile Bank and Eastern Michigan Bank provide financial products and services in a professional and personalized manner designed to make banking easier for businesses, individuals, and governmental units. Distinguished by exceptional service, knowledgeable staff, and a commitment to the communities they serve, Mercantile Bank and Eastern Michigan Bank, as combined, comprise one of the largest Michigan-based banking organizations with total combined assets of approximately $6.8 billion. Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM."