Mercantile Bank of Michigan
Founded in 1997, Mercantile Bank of Michigan provides commercial and retail banking services primarily to small-sized to medium-sized businesses and individuals. Headquartered in Grand Rapids, MI, Mercantile Bank Corporation is the holding company for Mercantile Bank of Michigan. It operates branches in and around Grand Rapids, as well as the college town of East Lansing. Lansing was the community bank’s first venture outside the western part of Michigan, prompting the name to be changed in 2005.
As of May 8, 2009, the company operated nine full-service banking offices in Grand Rapids, Holland, Ann Arbor, Novi, and Lansing county areas in Michigan. The company primarily engages in generating deposits and originating loans. Its deposit products include checking accounts, savings accounts, time deposits, demand deposits, money market accounts, certificate of deposits, and security repurchase agreements. Its lending portfolio includes commercial and non-residential mortgages which account for about 75% of loans. It offers commercial loans including loans and leases for working capital, accounts receivable, financing, and machinery and equipment acquisition. They also offer commercial real estate loans for new construction and land development, single-family residential real estate loans, home equity line of credit programs, mortgage loans, and consumer loans which include loans for new and used automobiles, boat loans, credit cards, and overdraft protection. Moreover, insurance products for private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products are also open for customers.
Additional services also include telephone and online banking, courier services, and safety deposit facilities. Online banking services allow customers to save time by making their check deposits from home or from work through their Merc@Home Deposit or Merc@Work Deposit. All is needed is to scan the check and send the image via the internet. Depending on your cell phone capabilities, MercMobile allows you access to your account information, transfer money, and even pay bills from your cell phone.
Learn more about Mercantile Bank of Michigan and details of their services by visiting their website at mercbank.com.
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