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Built on the strength of a dependable bank and the assurance of a trusted financial ally.
View Deposit Options
Commercial Analysis Checking Account
A depository account designed for commercial customers using enhanced treasury management services or complex relationship structures.
Key Features & Benefits
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Optimize account balances to reduce or eliminate monthly service charges
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No minimum balance requirements and unlimited transaction activity
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Electronic account analysis statements with aggregate billing structure option
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Competitive tiered earnings credit rate
Municipal Checking
Open with $50.00. Maintain $35,000.00 balance to waive $6.00 fee. Enjoy unlimited transactions, cash deposits, wire activity, and tiered interest.
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$50.00 minimum opening deposit.
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$6.00 monthly maintenance fee is waived if you maintain a $35,000.00 average available balance per statement cycle or a combined average available balance greater than $50,000.00.
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Combined average available balance in all deposit accounts held in the same legal name and Tax ID at Mercantile Bank is greater than $50,000.00. Qualifying deposit account(s) include any combination of the following business deposit accounts: checking, money market, savings, and certificate of deposit accounts and must reside on the same customer portfolio.
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Unlimited monthly transactions.
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Unlimited monthly cash deposit allowance.
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Unlimited incoming and outgoing wire activity.
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Tiered interest rate.
Service charges are subject to change.
Municipal Certificate of Deposit
Enjoy automatic renewal, flexible maturities, and secure savings. Interest rates set on deposit day; early withdrawal penalties apply.
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$500.00 minimum opening deposit.
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Automatic renewal standard for your convenience.
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Flexible maturities range from 30 days to 60 months.
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Subject to an early withdrawal penalty when principal is withdrawn prior to maturity.
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Savings options that comply with Public Act 20 to ensure deposits are safe and secure.
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The interest rate and annual percentage yield on the account will be determined on the day the deposit is accepted.
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Fees could reduce earnings on the account.
Public Funds Money Market Account
Depository investment account for public entities designed to maximize interest on excess liquid balances.
Key Features and Benefits
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Maintain liquidity and optimize balances to earn interest
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Includes up to 10 monthly transfers and withdrawals at no charge
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No monthly maintenance fee or minimum balance requirement
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Online access to balance, transaction and statement information
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Interest rate monitored weekly and adjusted according to market conditions
Our Partnership with INTRAFI
Get peace of mind by accessing millions in FDIC insurance coverage with IntraFi’s ICS & CDARS products – all through your existing Mercantile Bank relationship. Eliminate the need to manage multiple bank relationships, track collateral, or footnote uninsured deposits in financial statements. Funds are held safe and secure within FDIC.
ICS (IntraFiSM Cash Service SM)
• Tiered interest rate structure
• Daily liquidity and access to funds
• Online access to balances, statements, and ability to initiate transfers between accounts
• Daily automated sweep option
CDARS (Certificate of Deposit Account Registry Service)
• Standard CD terms available
• Earn one rate for each CD maturity
• CD maturity notices available 10-15 days before maturity
• Receive an easy-to-read statement summarizing your holdings in CDARS
For both ICS & CDARS, deposits are placed with participating network banks (up to $250,000 per bank) with the option to exclude select banks from receiving funds.
