KBRA Releases Surveillance Report for Mercantile Bank Corporation

On November 26, 2024, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Grand Rapids, Michigan-based Mercantile Bank Corporation (NASDAQ: MBWM). In addition, KBRA affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Mercantile Bank, the main subsidiary. The Outlook for all long-term ratings is Stable.

To access ratings and relevant documents, click here.

Click here to view the report.