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Mercantile Bank

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Mercantile Bank Rates & Review October 2026

Q: How many branches does Mercantile Bank operate?

Mercantile Bank currently maintains approximately 41 branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Q: Is there a first-time homebuyer program?

Currently, Mercantile Bank does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Q: Are credit management and repair services offered?

While formal credit repair services are not currently listed, Mercantile Bank provides members with tools to manage their accounts and build a solid financial history.

Content reviewed by

Brian McKay

| Editorial Disclosure | ✓Fact Checked | Rates Last Updated and Verified: October 7, 2026

Mercantile Bank's top rate as of October 7, 2026 is 3.24% APY on its 28-Month - Online Flex CD, according to rates verified by MonitorBankRates. Other Mercantile Bank CD rates include 28-Month Certificate at 3.24%. MonitorBankRates evaluates the financial stability of Mercantile Bank with a 5.0 Star Rating, an A+ Overall Health Grade, and a Texas Ratio of 0.63%. Rates last updated and verified on 10/07/2026.

Mercantile Bank money market rates, and other rates, are continually updated to reflect market conditions. We recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Mercantile Bank? Share your experience about Mercantile Bank by leaving a review below, or read customer reviews before you decide to use Mercantile Bank.

Verified Healthy Q2 2026 Use This Badge on Your Bank Website

Overall Health & Safety Grade

A+

Exceptional Health Score: 100/100

MonitorBankRates Rating

5.0

Exceptional Out of 5.0 Stars

Texas Ratio

0.63%

Excellent Lower than avg

Health Trend

Very strong 12 quarters

Full history ›

Mercantile Bank

310 Leonard St Nw
Grand Rapids, MI 49504

https://www.mercbank.com

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Financial health data as of Q2 2026 (FDIC call report for the quarter ended June 30, 2026). This is the most recent call report available. The FDIC publishes bank call reports about eight weeks after each quarter ends.

Mercantile Bank CD Rates

Product	Rate	APY	Term
28 Month - Online Flex CD	3.20%	3.24%	28 Month
No additional details. Last Updated 10/07/2026 Rate History 1 change since Sep 18, 2026 · 3.14% → 3.24% ▲ 0.10 pts · high 3.24% / low 3.14% Oct 2, 20263.24%▲ from 3.14% Sep 18, 20263.14%first recorded Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 0.63%
28 Month Certificate	3.20%	3.24%	28 Month
No additional details. Last Updated 10/07/2026 Rate History 1 change since Sep 18, 2026 · 3.14% → 3.24% ▲ 0.10 pts · high 3.24% / low 3.14% Oct 2, 20263.24%▲ from 3.14% Sep 18, 20263.14%first recorded Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 0.63%

Important: Rates, terms, and conditions are subject to change without notice. The rates displayed are for information purposes only. Please confirm all rates and terms directly with the financial institution. We strive to keep this information accurate but cannot guarantee it.
Banks and Credit Unions: If you identify an incorrect rate or wish to request the removal of your institution's data from MonitorBankRates.com, please contact us here.

Financial Health History

Mercantile Bank’s Texas Ratio stayed near 1.01% in Q3 2023 to 0.63% in Q2 2026, so its financial health has stayed very strong over the past 12 quarters. Over the same period its Star Rating moved from 5.0 to 5.0. Lower Texas Ratios are healthier — this bank’s entire history sits far below the 15% threshold for the MBR Verified Healthy badge. Hover over or tap a point for that quarter’s figures.

Swipe the chart sideways to see every quarter.

Texas Ratio, left axis (lower is healthier)MBR Star Rating, right axis (1 to 5)Health Grade

How to read this chart: the two lines move in opposite directions by design. The Texas Ratio (blue) measures trouble, so a rising blue line means more non-performing assets against capital. The Star Rating (green) and Health Grade chips measure strength, so they fall when the Texas Ratio climbs and recover when it drops.

Show the quarterly figures

Quarter	Total assets	Texas Ratio	Star Rating	Health Grade
June 30, 2026	$6.2B	0.63%	5.0	A+
March 31, 2026	$6.4B	0.93%	5.0	A+
December 31, 2025	$6.2B	0.94%	5.0	A+
September 30, 2025	$6.2B	1.34%	5.0	A+
June 30, 2025	$6.1B	1.36%	5.0	A+
March 31, 2025	$6.1B	0.77%	5.0	A+
December 31, 2024	$6.0B	0.84%	5.0	A+
September 30, 2024	$5.9B	1.44%	5.0	A+
June 30, 2024	$5.5B	1.40%	5.0	A+
March 31, 2024	$5.4B	0.98%	5.0	A+
December 31, 2023	$5.3B	0.58%	5.0	A+
September 30, 2023	$5.2B	1.01%	5.0	A+

Source: FDIC call reports, MonitorBankRates analysis. Ratings shown are recomputed for each quarter with the current methodology and exclude member reviews.

Methodology & Data Sources

MonitorBankRates Star Rating: Our rating for Mercantile Bank is derived from comprehensive financial data published quarterly by the FDIC. Our proprietary rating system evaluates financial stability (including the Texas Ratio and capitalization) and combines it with customer feedback (user reviews) to help you make informed banking decisions.

Texas Ratio: We calculate the Texas Ratio using standard industry methodology. This ratio compares the bank's non-performing assets to its tangible common equity and loan loss reserves to assess financial health.

Rate Data Aggregation: We gather Mercantile Bank rates using proprietary online rate aggregation technology. Our systems scan constantly to provide the most recent rates available to our visitors.

Disclaimer: Interest rates are variable and subject to change without notice. While we strive for accuracy, rates can change rapidly based on market conditions. It is always advisable to check with Mercantile Bank's official website for the most current offers and terms.

Bank Profile & Overview

Institution Name Mercantile Bank

Bank Holding Company MERCANTILE BANK CORP

Address 310 Leonard St Nw, Grand Rapids, MI 49504 · Kent

Website https://www.mercbank.com

FDIC Certificate # 34598

Established 19971215

FDIC Insurance Date 19971215

Domestic Offices 41

Total Branches 41

Regulator FDIC

FDIC Insured ✓ Yes — Up to $250,000

Financial Health & Assets

A+

Overall Health Grade Score: 100/100

5.0

Exceptional Out of 5.0 Stars

0.63%

Texas Ratio Nat'l avg: 5.85%

Return on Assets (ROA) 1.6106%

Return on Equity (ROE) 13.9000%

Non-Performing Loans (NPL) 0.07%

Total Assets $6,240,347,000

Total Deposits $4,927,922,000

Equity Capital $731,368,000

Net Income $50,569,000

Headquarters Grand Rapids

Total Branches and Offices 41

Source: FDIC | Last Updated 06/30/2026

Q2 2026 MBR Health & Safety Badge

Mercantile Bank earned the Verified Healthy badge

Display this badge on your website to show visitors your Q2 2026 MonitorBankRates recognition. The badge links back to this profile page for independent verification.

Copy the HTML below and paste it into your website where you’d like the badge to appear. The badge image is hosted on MonitorBankRates, so there is no need to download or upload anything. Badges are re-tested every quarter; when a new quarter is published, come back to this page for the updated code.

<a href="https://monitorbankrates.com/banks/mercantile-bank-cd-rates">
  <img src="https://www.monitorbankrates.com/wp-content/uploads/badges/mbr-badge-tier-c-2026-q2.svg"
       alt="MonitorBankRates Verified Healthy Badge Q2 2026"
       width="160" height="160">
</a>

Learn more about the MBR Health & Safety Badge program on our methodology page.

Customer Reviews

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Frequently Asked Questions About Mercantile Bank

How many branches does Mercantile Bank operate?

Mercantile Bank currently maintains approximately 41 branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Is there a first-time homebuyer program?

Currently, Mercantile Bank does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Are credit management and repair services offered?

While formal credit repair services are not currently listed, Mercantile Bank provides members with tools to manage their accounts and build a solid financial history.

Does Mercantile Bank offer online and mobile banking?

Most modern institutions like Mercantile Bank provide digital access. This includes the ability to check balances, transfer funds, deposit checks via mobile app, and view statements online. You can usually find these services at their official website: https://www.mercbank.com.