GRAND RAPIDS, Mich.,
Oct. 20, 2020 /PRNewswire/ --
Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced
today that on October 15, 2020, its
Board of Directors declared a regular quarterly cash dividend of
$0.28 per common share, payable on
December 16, 2020, to holders of
record as of December 4, 2020.
"We are very pleased that we were able to carry on our cash
dividend program as we continue to navigate through the challenges
posed by the COVID-19 pandemic," said Robert B. Kaminski, Jr., President and Chief
Executive Officer of Mercantile. "Our financial condition has
remained strong throughout 2020, and we will continue to carefully
assess potential risks stemming from the pandemic and implement
strategic initiatives as deemed necessary, including evaluating
future cash dividend payments to ensure our capital levels remain
at desired levels."
About Mercantile Bank Corporation
Based in
Grand Rapids, Michigan, Mercantile
Bank Corporation is the bank holding company for Mercantile Bank of
Michigan. Mercantile provides banking services to businesses,
individuals and governmental units, and differentiates itself on
the basis of service quality and the expertise of its banking
staff. Mercantile has assets of approximately $4.4 billion and operates 40 banking
offices. Mercantile Bank Corporation's common stock is listed
on the NASDAQ Global Select Market under the symbol "MBWM."
Forward-Looking Statements
This news release contains
comments or information that may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Any such comments are based on current
expectations that involve a number of risks and uncertainties.
Actual results may differ materially from the results expressed in
forward-looking statements. Factors that might cause such a
difference include changes in interest rates and interest rate
relationships; demand for products and services; the degree of
competition by traditional and nontraditional competitors; changes
in banking regulation or actions by bank regulators; changes in tax
laws; changes in prices, levies, and assessments; the impact of
technological advances; governmental and regulatory policy changes;
the outcomes of contingencies; trends in customer behavior as well
as their ability to repay loans; changes in local real estate
values; changes in the national and local economies, including the
significant disruption to financial market and other economic
activity caused by the outbreak of COVID-19; and other factors,
including risk factors, disclosed from time to time in filings made
by Mercantile with the Securities and Exchange Commission.
Mercantile undertakes no obligation to update or clarify
forward-looking statements, whether as a result of new information,
future events or otherwise.
FOR FURTHER
INFORMATION:
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AT MERCANTILE BANK
CORPORATION:
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Robert B.
Kaminski,
Jr.
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Charles
Christmas
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President
& CEO
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Executive Vice
President & CFO
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616-726-1502
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616-726-1202
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rkaminski@mercbank.com
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cchristmas@mercbank.com
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SOURCE Mercantile Bank Corporation