Banking News

Mercantile Bank of Michigan Establishes The Mercantile Bank Foundation

Mercantile Bank of Michigan Establishes The Mercantile Bank Foundation

Mercantile Bank Corporation’s subsidiary bank Mercantile Bank of Michigan announced that it has formed The Mercantile Bank Foundation, a private charitable foundation to fund and administer Mercantile Bank’s charitable giving activities.


In conjunction with the formation, Mercantile Bank is making a $4.0 million initial capital contribution, which will be recorded as noninterest expense during the fourth quarter of 2021. Additional capital contributions are expected in future periods, depending on Mercantile Bank’s operating performance, financial condition and other considerations.

Latest Fintech News: SeABank Enhances Digital Banking Experiences with Google Cloud

Mercantile Bank has donated over $1.6 million during the past two calendar years in support of nonprofit organizations throughout the communities it serves, and The Mercantile Bank Foundation is eventually expected to make all of Mercantile Bank’s 501(c)(3) donations in the future.

Latest Fintech News: Next Century Ventures, the Venture Capital Arm of NEXEN TIRE, Announces Its Inaugural Investment in ANRA Technologies

“We are very excited to form and initially fund The Mercantile Bank Foundation to enhance our charitable giving program as we work to support all of the communitites within our markets, and to provide a consistent level of giving thoughout the business cycle,” said Raymond E. Reitsma, President of Mercantile Bank. “Importantly, our commitment to making a positive difference extends beyond donations, including community development lending, thousands of employee volunteer hours for hundreds of nonprofit organizations, financial education classes and other initiatives that will continue alongside the work of the new charitable foundation.”

Latest Fintech News: e-Commerce Platform Brikl Closes New Funding Round Aimed at Hypergrowth

[To share your insights with us, please write to]

Related posts

RelPro Partners with Rivel, Enabling Banks & Credit Unions to Increase SMB Growth and Business Development Efficiency

Fintech News Desk

Demoflow Secures Additional $2.4 Million in Seed Funding Bringing Total Seed Funding to $4 Million

Fintech News Desk

Huobi Wallet to Work with Consensys Pilot Programme in Ethereum 2.0 Staking Solution

Fintech News Desk