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Financial M&A image Financial M&A » By The Online Investor Staff, updated Thu., May. 9, 7:49 AM Recent mergers and acquisitions in the Financial M&A category.

Slide #6. Mercantile Bank Corporation Firstbank Corporation

Acquirer: Mercantile Bank Corporation (MBWM)
Acquiree: Firstbank Corporation (FBMI)
Details: Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") and Firstbank Corporation (NASDAQ: FBMI) ("Firstbank") announced today that all regulatory approvals for their proposed merger, announced on August 15, 2013, have been received. Mercantile and Firstbank shareholders previously approved the merger in December 2013. Subject to the satisfaction of customary closing conditions, the merger is expected to be completed as of June 1, 2014. The combined companies will operate as Mercantile Bank Corporation.

Mercantile Bank is a bank holding company. Through Co.'s subsidiary, Mercantile Bank of Michigan (Co.'s bank), Co. provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. Co.'s operations are centered around the West and Central portions of Michigan. Co.'s bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. Co.'s commercial lending group originates commercial loans primarily in its market areas. In addition, Co. originates single-family residential real estate loans in its market areas, generally according to secondary market underwriting standards.

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Mercantile Bank is a bank holding company. Through Co.'s subsidiary, Mercantile Bank of Michigan (Co.'s bank), Co. provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. Co.'s operations are centered around the West and Central portions of Michigan. Co.'s bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. Co.'s commercial lending group originates commercial loans primarily in its market areas. In addition, Co. originates single-family residential real estate loans in its market areas, generally according to secondary market underwriting standards.

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Company Name:  Mercantile Bank Corp.
Stock buyback:  MBWM buyback
Website:  www.mercbank.com
Sector:  Banking & Savings
Number of ETFs Holding MBWM:  26
Total Market Value Held by ETFs:  $60.41M
Total Market Capitalization:  $635.00M
% of Market Cap. Held by ETFs:  9.51%
Company Name:  Firstbank Corp. (MI)
Website:  www.firstbankmi.com
Sector:  Banking & Savings
 

May 9, 2024    7:49 AM Eastern
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