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Mercantile Bank Rates & Review April 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: April 11, 2026

Mercantile Bank's 28-Month - Online Flex CD rates are at 3.14%. MonitorBankRates evaluates the financial stability of Mercantile Bank with a 5.0 Star Rating, an A+ Overall Health Grade, and a Texas Ratio of 1.01%. Rates were last updated on 04/11/2026.

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.

Overall Health & Safety Grade

A+

Exceptional Health Score: 99/100

MonitorBankRates Rating

5.0

Exceptional Out of 5.0 Stars

Texas Ratio

1.01%

Excellent Lower than avg

Mercantile Bank

310 Leonard St Nw
Grand Rapids, MI 49504

https://www.mercbank.com

Mercantile Bank CD Rates

Product	Rate	APY	Term	View More
28 Month - Online Flex CD	3.10%	3.14%	28
No additional details. Last Updated 04/11/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.01%

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.

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 12/15/1997

FDIC Insurance Date 12/15/1997

Domestic Offices 41

Total Branches 41

Regulator FDIC

FDIC Insured ✓ Yes — Up to $250,000

Financial Health & Assets

A+

Overall Health Grade Score: 99/100

5.0

Exceptional Out of 5.0 Stars

1.01%

Texas Ratio Nat'l avg: 5.85%

Return on Assets (ROA) 1.8605%

Return on Equity (ROE) 16.3800%

Non-Performing Loans (NPL) 0.09%

Total Assets $6,241,994,000

Total Deposits $4,895,988,000

Equity Capital $725,795,000

Net Income $98,707,000

Headquarters Grand Rapids

Total Offices 41

Source: FDIC | Last Updated 12/31/2025

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Total Reviews

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Frequently Asked Questions About Mercantile Bank

Is Mercantile Bank a safe place to deposit money?

Yes, Mercantile Bank is considered a safe financial institution. With a Texas Ratio of 1.0136628576793%, the institution's financial health is rated as excellent. Your accounts are federally insured by the FDIC (Federal Deposit Insurance Corporation) up to $250,000 per depositor, for each account ownership category.

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.