Mercantile Bank Corporation Declares Fourth Quarter Cash Dividend Of $0.01 Per Share
October 20, 2009 |
| Mercantile Bank Corporation announced that on October 15, 2009, the Board of Directors, declared a fourth quarter cash dividend of $0.01 per share on the Corporation's common stock. The dividend is payable on December 10, 2009, to shareholders of record as of the close of business on November 10, 2009. |
Mercantile Bank Corporation Declares Third Quarter Cash Dividend Of $0.01 Per Share
July 21, 2009 |
| Mercantile Bank Corporation announced that on July 16, 2009, the Board of Directors declared a third quarter cash dividend of $0.01 per share on the Corporation's common stock. The dividend is payable on September 10, 2009, to shareholders of record as of the close of business on August 10, 2009. |
Mercantile Bank Corporation Announces Consolidation Of Banking Operations
May 8, 2009 |
| Mercantile Bank Corporation announced that Mercantile intends to implement a restructuring plan to consolidate and centralize the mid- and eastern-regions of its Michigan banking activities. The Company will close its Novi (Oakland County) and Ann Arbor banking offices by mid-August 2009; deposits and commercial loans currently serviced at those offices will be transferred to the Lansing office. The Lansing and Holland offices will remain open along with the five banking offices that serve the Greater Grand Rapids area. As part of the consolidation plan and other strategic initiatives, staffing will be reduced by 18 full-time equivalent employees, or about six percent of the workforce. The Company will record a pre-tax charge of approximately $0.7 million in the second quarter of 2009, primarily representing severance payments and the write-off of leasehold improvements, and $0.8 million in the third quarter of 2009 associated with lease termination costs. Going forward, projected savings are anticipated to be approximately $2.5 million per year on a pre-tax basis. |
Mercantile Bank Corporation Declares Second Quarter Cash Dividend Of $0.01 Per Share
April 15, 2009 |
| Mercantile Bank Corporation announced that it has declared a second quarter cash dividend of $0.01 per share on the Company's common stock. The dividend is payable on June 10, 2009 to shareholders of record as of the close of business on May 8, 2009. |
Mercantile Bank Corporation Declares First Quarter Cash Dividend Of $0.04 Per Share
January 14, 2009 |
| Mercantile Bank Corporation announced that on January 8, 2009, the Board of Directors of the Company, declared a first quarter cash dividend of $0.04 per share on the Company's common stock. The dividend is payable on March 10, 2009, to shareholders of record as of the close of business on February 10, 2009. |
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