Mercantile Bank Corporation Increases Cash Dividend

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GRAND RAPIDS, Mich., July 16, 2019 — Mercantile Bank Corporation (NASDAQ: MBWM) (“Mercantile”) announced today that on July 11, 2019, its Board of Directors declared a regular quarterly cash dividend of $0.27 per common share, payable on September 18, 2019, to holders of record as of September 6, 2019. The $0.27 cash dividend represents an increase of approximately 4 percent from the $0.26 cash dividend paid during both the first and second quarters of 2019.

“As a reflection of our continuing financial strength and ongoing pledge to provide our shareholders with a competitive dividend yield, we increased our third quarter cash dividend,” said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. “Our strong capital position and earnings performance have enabled us to sustain the cash dividend program and meet growth objectives, and the improved cash dividend demonstrates the Board of Directors and executive management team’s belief that our robust operating results will continue in future periods.”