MBWMNasdaqState Commercial BanksFiscal year ends December 31
MERCANTILE BANK CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026
$58.42−0.19 (-0.32%)
Close on Oct 19, 2026
- Market cap
- $1.01B
- P/E (TTM)
- 10.3
- Dividend yield
- 2.57%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
69.7%
12M of 17M shares
Institutional holders
207
35 new, 22 sold out
Net institutional buying
0M
In Q2 2026
Insider trades, 12 months
1 buys · 2 sales
Net sold $166.30K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| BlackRock, Inc. | 1,223,591 | 7.50% | 13G (passive) amendment | Mar 31, 2025 |
| Wellington Management Company LLP | 1,189,031 | 6.50% | 13G (passive) | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 1,031,485 | 6.00% | 13G (passive) amendment | Dec 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of MBWM | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 1,534,392 | 8.88% | $88.10M | +145,678 | 0.00% |
| Wellington Management Group Llp | 1,087,998 | 6.29% | $62.47M | −101,033 | 0.01% |
| Dimensional Fund Advisors LP | 1,046,841 | 6.06% | $60.11M | +13,953 | 0.01% |
| Vanguard Capital Management LLC | 735,613 | 4.26% | $42.24M | +31,289 | 0.00% |
| American Century Companies Inc | 625,015 | 3.62% | $35.89M | +63,548 | 0.02% |
| State Street Corp | 598,641 | 3.46% | $34.37M | +96,173 | 0.00% |
| Geode Capital Management, LLC | 466,410 | 2.70% | $26.79M | +31,398 | 0.00% |
| Renaissance Technologies LLC | 446,613 | 2.58% | $25.64M | −25,600 | 0.04% |
| North Star Asset Management Inc | 377,427 | 2.18% | $21.67M | −5,753 | 0.85% |
| Vanguard Portfolio Management LLC | 290,093 | 1.68% | $16.66M | +14,772 | 0.00% |
| Lsv Asset Management | 280,786 | 1.62% | $16.12K | −2,400 | 0.03% |
| Northern Trust Corp | 240,668 | 1.39% | $13.82M | +8,068 | 0.00% |
| Tributary Capital Management, LLC | 218,146 | 1.26% | $12.53M | −6,486 | 1.03% |
| Two Sigma Investments, LP | 213,740 | 1.24% | $12.27M | +32,093 | 0.01% |
| Hotchkis & Wiley Capital Management LLC | 192,503 | 1.11% | $11.05M | +1,350 | 0.03% |
| Charles Schwab Investment Management Inc | 144,188 | 0.83% | $8.28M | +3,742 | 0.00% |
| JPMorgan Chase & Co | 140,097 | 0.81% | $8.01M | −8,761 | 0.00% |
| Aqr Capital Management LLC | 137,726 | 0.80% | $7.91M | −8,987 | 0.00% |
| Banc Funds Co LLC | 131,160 | 0.76% | $7.53M | – | 1.24% |
| Mercer Global Advisors Inc /Adv | 127,923 | 0.74% | $7.35M | −1,334 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 207 | 12M | 69.7% | 35 / 73 | 62 / 22 | 1M | 1M |
| Q1 2026 | 200 | 12M | 67.6% | 29 / 71 | 55 / 16 | 3M | 1M |
| Q4 2025 | 192 | 11M | 62.0% | 17 / 60 | 83 / 21 | 1M | 1M |
| Q3 2025 | 200 | 11M | 62.7% | 22 / 82 | 62 / 15 | 1M | 1M |
| Q2 2025 | 196 | 10M | 60.7% | 19 / 70 | 70 / 15 | 1M | 0M |
| Q1 2025 | 194 | 10M | 60.3% | 28 / 78 | 60 / 9 | 1M | 1M |
| Q4 2024 | 178 | 10M | 59.5% | 27 / 73 | 46 / 9 | 1M | 0M |
| Q3 2024 | 161 | 10M | 58.2% | 14 / 61 | 50 / 13 | 2M | 1M |
| Q2 2024 | 162 | 10M | 57.3% | 24 / 50 | 61 / 16 | 1M | 1M |
| Q1 2024 | 155 | 10M | 57.7% | 25 / 50 | 54 / 11 | 1M | 1M |
| Q4 2023 | 141 | 10M | 55.7% | 21 / 50 | 42 / 12 | 1M | 0M |
| Q3 2023 | 133 | 9M | 53.0% | 23 / 47 | 37 / 7 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of MBWM | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 520,137 | 3.01% | $29.87M | 0.00% | Jun 30, 2026 |
| Avantis U.S. Small Cap Value ETF | 494,795 | 2.86% | $26.22M | 0.10% | May 31, 2026 |
| iShares Russell 2000 ETF | 477,629 | 2.76% | $27.43M | 0.03% | Jun 30, 2026 |
| U.S. Small Cap Value Portfolio | 233,920 | 1.35% | $14.05M | 0.07% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 199,073 | 1.15% | $11.43M | 0.01% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 188,836 | 1.09% | $11.35M | 0.03% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 172,812 | 1.00% | $9.92M | 0.07% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Regional Banking ETF | 169,182 | 0.98% | $9.71M | 0.20% | Jun 30, 2026 |
| U.S. Targeted Value Portfolio | 131,599 | 0.76% | $7.91M | 0.05% | Jul 31, 2026 |
| Tributary Small Company Fund | 129,052 | 0.75% | $7.41M | 1.10% | Jun 30, 2026 |
| ProShares Russell 2000 Dividend Growers ETF | 124,104 | 0.72% | $6.58M | 1.00% | May 31, 2026 |
| U.S. Small Cap Portfolio | 103,198 | 0.60% | $6.20M | 0.03% | Jul 31, 2026 |
| Vanguard Dividend Appreciation Index Fund | 97,713 | 0.57% | $5.87M | 0.00% | Jul 31, 2026 |
| Dimensional U.S. Targeted Value ETF | 93,171 | 0.54% | $5.60M | 0.04% | Jul 31, 2026 |
| Dimensional US Small Cap Value ETF | 90,564 | 0.52% | $5.44M | 0.07% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Raymond E. Reitsma | President and CEO, Director | 89,538 | 0.52% | Feb 18, 2026 |
| Charles E. Christmas | EVP & CFO | 123,500 | 0.71% | Feb 18, 2026 |
| Brett Hoover | EVP & CHIEF HR OFFICER | 18,618 | 0.11% | Feb 9, 2026 |
| Scott P. Setlock | EVP, COO, & SECRETARY | 30,941 | 0.18% | Feb 9, 2026 |
| Tara M. Randall | EVP & Chief Experience Officer | 15,668 | 0.09% | Feb 9, 2026 |
| Mark S. Augustyn | EVP&Chief Comm Banking Officer | 32,128 | 0.19% | Feb 9, 2026 |
| Richard D. MacDonald | Director | 3,289 | 0.02% | May 27, 2026 |
| Steven Schweihofer | Director | 6,317 | 0.04% | May 27, 2026 |
| Michelle Larabee Eldridge | Director | 19,420 | 0.11% | May 27, 2026 |
| Michael S. Davenport | Director | 11,394 | 0.07% | May 27, 2026 |
| David B. Ramaker | Director | 15,815 | 0.09% | May 27, 2026 |
| Amy L. Sparks | Director | 6,489 | 0.04% | May 27, 2026 |
| Nelson F. Sanchez | Director | 7,401 | 0.04% | May 27, 2026 |
| Joseph D. Jones | Director | 6,506 | 0.04% | May 27, 2026 |
| Michael H. Price | Director | 47,745 | 0.28% | May 27, 2026 |
| Sara A. Schmidt | Director | 1,684 | 0.01% | May 27, 2026 |
| Shoran R. Williams | Director | 5,981 | 0.03% | May 27, 2026 |
| Robert B. Kaminski | Director | 89,796 | 0.52% | May 6, 2025 |
| Thomas D. Dickinson | Director | 24,896 | 0.14% | Jan 6, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Amy L. Sparks Director | May 22, 2026 | Award | +906 | – | – | 6,489 |
| Sara A. Schmidt Director | May 22, 2026 | Award | +715 | – | – | 1,684 |
| Steven Schweihofer Director | May 22, 2026 | Award | +715 | – | – | 6,317 |
| Nelson F. Sanchez Director | May 22, 2026 | Award | +715 | – | – | 3,899 |
| Michael H. Price Director | May 22, 2026 | Award | +1,096 | – | – | 12,994 |
| Michelle Larabee Eldridge Director | May 22, 2026 | Award | +830 | – | – | 12,670 |
| Shoran R. Williams Director | May 22, 2026 | Award | +715 | – | – | 5,981 |
| Joseph D. Jones Director | May 22, 2026 | Award | +715 | – | – | 6,506 |
| Richard D. MacDonald Director | May 22, 2026 | Award | +715 | – | – | 3,289 |
| David B. Ramaker Director | May 22, 2026 | Award | +801 | – | – | 15,815 |
| Michael S. Davenport Director | May 22, 2026 | Award | +753 | – | – | 9,594 |
| Charles E. Christmas EVP & CFO | Feb 17, 2026 | Tax withholding | −3,021 | $54.24 | $163.86K | 70,527 |
| Raymond E. Reitsma President and CEO, Director | Feb 17, 2026 | Tax withholding | −4,040 | $54.24 | $219.13K | 64,270 |
| Charles E. Christmas EVP & CFO | Feb 15, 2026 | Award | +1,326 | – | – | 73,548 |
| Raymond E. Reitsma President and CEO, Director | Feb 15, 2026 | Award | +1,808 | – | – | 68,310 |
| Scott P. Setlock EVP, COO, & SECRETARY | Feb 5, 2026 | Award | +2,271 | – | – | 22,008 |
| Scott P. Setlock EVP, COO, & SECRETARY | Feb 5, 2026 | Award | +1,135 | – | – | 23,143 |
| Brett Hoover EVP & CHIEF HR OFFICER | Feb 5, 2026 | Award | +1,888 | – | – | 17,576 |
| Brett Hoover EVP & CHIEF HR OFFICER | Feb 5, 2026 | Award | +944 | – | – | 18,520 |
| Mark S. Augustyn EVP&Chief Comm Banking Officer | Feb 5, 2026 | Award | +2,875 | – | – | 31,602 |
| Mark S. Augustyn EVP&Chief Comm Banking Officer | Feb 5, 2026 | Award | +1,437 | – | – | 32,499 |
| Raymond E. Reitsma President and CEO, Director | Feb 5, 2026 | Award | +3,779 | – | – | 66,502 |
| Raymond E. Reitsma President and CEO, Director | Feb 5, 2026 | Award | +7,559 | – | – | 62,723 |
| Tara M. Randall EVP & Chief Experience Officer | Feb 5, 2026 | Award | +1,820 | – | – | 15,668 |
| Tara M. Randall EVP & Chief Experience Officer | Feb 5, 2026 | Award | +910 | – | – | 16,578 |
| Charles E. Christmas EVP & CFO | Feb 5, 2026 | Award | +2,829 | – | – | 70,808 |
| Charles E. Christmas EVP & CFO | Feb 5, 2026 | Award | +1,414 | – | – | 72,222 |
| Steven Schweihofer Director | Jan 6, 2026 | Award | +321 | – | – | 5,603 |
| Steven Schweihofer Director | Dec 31, 2025 | Award | +5,282 | – | – | 5,282 |
| Scott P. Setlock EVP, COO, & SECRETARY | Dec 19, 2025 | Tax withholding | −1,187 | $49.45 | $58.70K | 19,737 |
| Brett Hoover EVP & CHIEF HR OFFICER | Dec 19, 2025 | Tax withholding | −950 | $49.45 | $46.98K | 15,688 |
| Mark S. Augustyn EVP&Chief Comm Banking Officer | Dec 19, 2025 | Tax withholding | −1,461 | $49.45 | $72.25K | 28,187 |
| Tara M. Randall EVP & Chief Experience Officer | Dec 19, 2025 | Tax withholding | −1,500 | $49.45 | $74.18K | 13,848 |
| Mark S. Augustyn EVP&Chief Comm Banking Officer | Dec 12, 2025 | Gift | −2,022 | – | – | 29,648 |
| Michael H. Price Director | Nov 13, 2025 | Sale | −1,417 | $45.81 | $64.91K | 11,898 |
| Michael H. Price Director | Nov 13, 2025 | Sale | −3,160 | $45.85 | $144.89K | 13,315 |
| Nelson F. Sanchez Director | Oct 31, 2025 | Buy | +1,000 | $43.50 | $43.50K | 3,502 |
| David B. Ramaker Director | Aug 18, 2025 | Buy | +1,500 | $46.71 | $70.07K | 15,014 |
| Shoran R. Williams Director | Jul 29, 2025 | Buy | +200 | $47.29 | $9.46K | 5,266 |
| David B. Ramaker Director | Jul 17, 2025 | Award | +20 | – | – | 13,514 |
| Michael H. Price Director | Jul 17, 2025 | Award | +47 | – | – | 16,475 |
| Michelle Larabee Eldridge Director | Jul 17, 2025 | Award | +34 | – | – | 11,840 |
| Amy L. Sparks Director | Jul 17, 2025 | Award | +79 | – | – | 5,463 |
| Michael S. Davenport Director | Jul 17, 2025 | Award | +17 | – | – | 8,685 |
| Sara A. Schmidt Director | May 22, 2025 | Award | +849 | – | – | 969 |
| Richard D. MacDonald Director | May 22, 2025 | Award | +849 | – | – | 2,574 |
| David B. Ramaker Director | May 22, 2025 | Award | +926 | – | – | 13,494 |
| Michael S. Davenport Director | May 22, 2025 | Award | +873 | – | – | 8,563 |
| Shoran R. Williams Director | May 22, 2025 | Award | +849 | – | – | 4,996 |
| Michelle Larabee Eldridge Director | May 22, 2025 | Award | +943 | – | – | 11,806 |
| Amy L. Sparks Director | May 22, 2025 | Award | +979 | – | – | 5,350 |
| Nelson F. Sanchez Director | May 22, 2025 | Award | +849 | – | – | 3,084 |
| Michael H. Price Director | May 22, 2025 | Award | +1,244 | – | – | 16,428 |
| Joseph D. Jones Director | May 22, 2025 | Award | +849 | – | – | 5,791 |
| Robert B. Kaminski Director | May 2, 2025 | Sale(10b5-1 plan) | −250 | $42.85 | $10.71K | 77,986 |
| Robert B. Kaminski Director | Apr 2, 2025 | Sale(10b5-1 plan) | −250 | $43.14 | $10.79K | 78,236 |
| Robert B. Kaminski Director | Mar 3, 2025 | Sale(10b5-1 plan) | −250 | $48.11 | $12.03K | 78,486 |
| Nelson F. Sanchez Director | Feb 26, 2025 | Buy | +212 | $47.00 | $9.96K | 2,502 |
| Nelson F. Sanchez Director | Feb 26, 2025 | Sale | −100 | $47.31 | $4.73K | 2,216 |
| Nelson F. Sanchez Director | Feb 20, 2025 | Buy | +193 | $47.50 | $9.17K | 2,090 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.