Bank / Credit Union

Mercantile Bank establishes charitable foundation

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January 17, 2022

Mercantile Bank of Michigan, a subsidiary of Mercantile Bank Corp., has established the Mercantile Bank Foundation, a charitable organization to administer its donations and charitable activities. The bank will also make a $4 million initial capital contribution to the foundation, according to a press release.

Mercantile Bank has donated more than $1.6 million in the past two years to a variety of nonprofit organizations. Now the foundation will handle all such 501c3 donations.

"We are very excited to form and initially fund The Mercantile Bank Foundation to enhance our charitable giving program as we work to support all of the communities within our markets, and to provide a consistent level of giving throughout the business cycle," Raymond E. Reitsma, president of Mercantile Bank, said in the release. "Importantly, our commitment to making a positive difference extends beyond donations, including community development lending, thousands of employee volunteer hours for hundreds of nonprofit organizations, financial education classes and other initiatives that will continue alongside the work of the new charitable foundation."