Mercantile Bank: how it compares with its peers
Against 277 U.S. banks with half to twice its assets, Mercantile Bank's strongest measure in Q2 2026 is return on assets (1.61% vs. a 1.34% peer median). Its weakest relative measure is assets per employee ($8.4M vs. $9.8M).
| Measure | Mercantile Bank | Peer median | Rank |
|---|---|---|---|
| Return on assets Annualized net income over average assets. | 1.61% | 1.34% | Top third Ahead of 71% of peers |
| Net interest margin Annualized net interest income over earning assets. | 3.57% | 3.70% | Middle third Ahead of 44% of peers |
| Efficiency ratio Noninterest expense per dollar of revenue. Lower is better. | 54.86% | 54.98% | Middle third Ahead of 51% of peers |
| Assets per employee Total assets over full-time-equivalent staff. | $8.4M | $9.8M | Bottom third Ahead of 32% of peers |
| Loans to deposits Net loans and leases over total deposits. | 95.36% | 88.53% | Context |
What it means for lending operations
Its efficiency ratio of 54.86% is better than the 54.98% peer median. Banks that already run lean usually find their next gains in loan growth: faster digital applications and fewer borrowers abandoning a slow document chase.
Banks closest in size
- Five Star Bank Rochester, NY · $6.29B
- First International Bank & Trust Watford City, ND · $6.18B
- First Financial Bank, National Association Terre Haute, IN · $6.17B
- Middlesex Savings Bank Natick, MA · $6.15B
- Shore United Bank, National Association Easton, MD · $6.15B
- CFG Bank Lutherville, MD · $6.12B
Questions about Mercantile Bank
How big is Mercantile Bank?
Mercantile Bank, established in 1997, is headquartered in Grand Rapids, MI. It reported $6.24B in total assets in its Q2 2026 FDIC call report and operates 41 offices.
What is Mercantile Bank's return on assets?
1.61% annualized in Q2 2026, against a 1.34% median for 277 U.S. banks with half to twice its assets, ahead of 71% of them.
What is Mercantile Bank's efficiency ratio?
54.86% in Q2 2026: it spent about 55 cents in noninterest expense for each dollar of revenue. The peer median is 54.98%, and lower is better.
Is Mercantile Bank growing its loans?
Net loans grew 0.7% over the year to Q2 2026, while deposits grew 4.2%.
Sources and method
Figures are from the FDIC’s public call report data for the quarter ending 06/30/2026, via FDIC BankFind. Return on assets and net interest margin are annualized year to date. Peers are U.S. banks with half to twice its assets in the same quarter, excluding this bank. The page refreshes daily, so new quarters appear as banks file. Compare another bank or see every Michigan bank ranked.