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Section 1: 8-K (FORM 8-K)





Washington, D.C. 20549







Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934


Date of Report (date of earliest event reported): May 7, 2019



Mercantile Bank Corporation

(Exact name of registrant as specified in its charter)


Michigan 000-26719 38-3360865
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification Number)
310 Leonard Street NW, Grand Rapids, Michigan  49504
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 616-406-3000



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐        


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Securities registered pursuant to Section 12(b) of the Act:


Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock


The Nasdaq Stock Market LLC





Item 8.01           Other Events.


The Board of Directors of Mercantile Bank Corporation has authorized a new program to repurchase up to $20.0 million of the Company’s common stock from time to time in open market transactions at prevailing market prices or by other means in accordance with applicable regulations of the Securities and Exchange Commission.


A press release issued by the Company announcing the program is included as Exhibit 99.1 to this Current Report on Form 8-K and incorporated into this Item 8.01 by reference.


Item 9.01           Financial Statements and Exhibits.


(d) Exhibits.


Exhibit Number    Description

Press release of Mercantile Bank Corporation dated May 7, 2019, announcing new $20.0 million stock repurchase program






Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




Mercantile Bank Corporation








 /s/ Charles E. Christmas         




Charles E. Christmas




Executive Vice President, Chief


    Financial Officer and Treasurer  


Date: May 7, 2019





Exhibit Index



Exhibit Number  Description 
99.1  Press release of Mercantile Bank Corporation
  dated May 7, 2019, announcing new
  $20.0 million stock repurchase program
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Section 2: EX-99.1 (EXHIBIT 99.1)


Exhibit 99.1




Mercantile Bank Corporation Announces
New $20 Million Stock Repurchase Program


GRAND RAPIDS, Mich., May 7, 2019 – Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that its Board of Directors has authorized a new stock repurchase program. Under this program, Mercantile may repurchase up to $20 million in aggregate value of its shares of common stock.


"In conjunction with the anticipated completion of our current stock repurchase plan, and in consultation with our Board of Directors, we believe it is an important aspect of our capital management and planning process to have a stock repurchase plan in place with sufficient capacity," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "We plan to implement the program at such time and price as repurchases are considered beneficial to the company and our stockholders."


The shares may be repurchased from time to time in open market transactions at prevailing market prices or by other means in accordance with federal securities laws. The actual timing, number and value of shares repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including the market price of Mercantile’s stock, general market and economic conditions, Mercantile’s capital position, financial performance and alternative uses of capital, and applicable legal requirements. The program may be discontinued at any time.


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 $3.5 billion and operates 46 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 constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that 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; 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.






  Robert B. Kaminski, Jr. Charles Christmas
  President & CEO  Executive Vice President & CFO
  616-726-1502 616-726-1202
  [email protected] [email protected]
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