Major Rating Factors:
Excellent current capitalization (10.0 on a scale of 0 to 10) based on a risk-based capital ratio of 20.3 and a capital leverage ratio of 12.0. A current level of 2.3 percent of nonperforming loans to core capital combined with 1.6 percent from a year earlier contributes to the Good asset quality (6.8).
Other Rating Factors:
Operating profits as a percentage of assets at 1.8%, coupled with a return on assets of 1.4 has resulted in Good (5.8) profitability. Good liquidity 5.5, driven by a liquidity ratio of 54.6 percent and a “hot money” ratio of 0.6 percent.
Asset Mix:
Securities (32%), cash (20%), comm re (13%), comm loans (4%), home mtgs (4%), consumer loans (2%), home eq lns (2%), other (23%)
States with Branches:
MI
Asset Quality
Non-Performing Loans to Capital
Non-Performing Assets to Assets
Non-Performing Loans to Loans
Loan Loss Reserves to Loans
Charge-Offs to Average Loans
5-Year Charge-Offs to Average Loans
5-Year Asset Growth
1-Year Asset Growth
Profitability
Operating Profit to Average Assets
Return on Equity
Net Interest Spread
5-Year ROAA (Return on Average Assets)
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Overhead Efficiency Ratio
Corporate Info
Group Affiliation
Mercantile Bank Corporation
Investment Rating
--
Address
65 North Howard Avenue
Croswell, MI 48422
Croswell, MI 48422
Phone Number
(810) 679-2500
Year Founded
1895
FDIC Number
Website
Largest Affiliates
Grand Rapids, MI
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Bank