MBWM FY2025 SEC EDGAR DEF 14A #90 of 136 in industry

Mercantile Bank Corp CEO pay ratio

The CEO earned $1.8M in FY2025 against median worker pay of $71,306 · Depository Institutions.

Depository Institutions peers All rankings
State
MI
Filing date
2026-04-02
Industry
Depository Institutions
Industry rank
#90/136

Data updated August 2026

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CEO-to-worker pay ratio
25:1
Below Average (Scale: 0–1000:1)
CEO pay
$1.8M
Median worker
$71,306

Answer first

Mercantile Bank Corp's FY2025 CEO total of $1.8M ranks #1170 of 1,423 complete filings; its 25:1 pay ratio ranks #1165. Dollar rank is not ratio rank.

According to the same FY2025 complete-filing cohort used on the rankings boards (CEO total, median worker, and ratio all present). Median worker pay is $71,306. Industry placement uses the FY2025 SIC-60 peer cohort (# 90 of 136, 35th percentile - below the industry median pay ratio). Figures come from Section 953(b) Dodd-Frank DEF 14A disclosures - not estimates. View all Depository Institutions companies.

Dollar rank
#1170
$1.8M of 1,423 FY2025
Ratio rank
#1165
25:1 of 1,423
Industry pct
35th
below the industry median pay ratio

How Mercantile Bank Corp ranks nationally

Mercantile Bank Corp CEO pay vs. every FY2025 complete filing

Total CEO compensation, the full national distribution, this company marked

$1,782,650 18th percentile higher than 18% of 1,423 companies

$0–$2,500,000: 304 companies (21%). This entry sits in this band. $2,500,000–$5,000,000: 182 companies (13%). Above this entry. $5,000,000–$7,500,000: 208 companies (15%). Above this entry. $7,500,000–$10,000,000: 192 companies (13%). Above this entry. $10,000,000–$12,500,000: 139 companies (10%). Above this entry. $12,500,000–$15,000,000: 91 companies (6%). Above this entry. $15,000,000–$17,500,000: 88 companies (6%). Above this entry. $17,500,000–$20,000,000: 54 companies (4%). Above this entry. $20,000,000–$22,500,000: 24 companies (2%). Above this entry. $22,500,000–$25,000,000: 34 companies (2%). Above this entry. $25,000,000–$27,500,000: 24 companies (2%). Above this entry. $27,500,000–$30,000,000: 16 companies (1%). Above this entry. $30,000,000–$32,500,000: 10 companies (1%). Above this entry. $32,500,000–$35,000,000: 7 companies (0%). Above this entry. $35,000,000–$37,500,000: 9 companies (1%). Above this entry. $37,500,000–$40,000,000: 6 companies (0%). Above this entry. $40,000,000–$42,500,000: 1 companies (0%). Above this entry. $42,500,000–$45,000,000: 1 companies (0%). Above this entry. $45,000,000–$47,500,000: 6 companies (0%). Above this entry. $47,500,000–$50,000,000: 27 companies (2%). Above this entry. This company $0 $50M+ every complete-filing company, bucketed by value

Each bar is a $2500K-wide band; taller bars hold more companies. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source SEC DEF 14A Section 953(b) disclosures, PlainCEOPay extract · FY2025

Mercantile Bank Corp vs. Depository Institutions peers

CEO total pay ($1.8M) against pay ratio (25:1) for Mercantile Bank Corp (marked) and its 4 closest same-industry peers, against the Depository Institutions industry median on both axes.

Pay + gap both highContained pay, wide gapHigh pay, contained gapBelow peer norms on both1364793.51792591.822203902648188.33075986.522.0:127.4:132.8:138.1:143.5:1CEO total payPay ratio (CEO : median worker)Mercantile Bank Corp, CEO total pay: 1782650 · Pay ratio (CEO : median worker): 25:1Mercantile Bank CorpArrow Financial Corp, CEO total pay: 1561075 · Pay ratio (CEO : median worker): 25:1Arrow Financial CorpUNIVEST FINANCIAL Corp, CEO total pay: 2114216 · Pay ratio (CEO : median worker): 26:1UNIVEST FINANCIAL CorpFS Bancorp, Inc., CEO total pay: 1442575 · Pay ratio (CEO : median worker): 24:1FS Bancorp, Inc.Merchants Bancorp, CEO total pay: 2508863 · Pay ratio (CEO : median worker): 23:1Merchants Bancorp
Mercantile Bank Corp vs. Depository Institutions peers, plotted against the industry's $3.0M median CEO total and 43:1 median pay ratio.

Ratio bands among Depository Institutions peers

Exclusive CEO-to-median-worker bands across 124 complete latest-FY filings in SIC 60. Segments sum to the peer set, not this company's compensation pillar.

CEO Compensation Breakdown, FY2025

A component-level pay breakdown is not reported in Mercantile Bank Corp's structured SEC pay-ratio disclosure. See our methodology →

Filing-year trail · Mercantile Bank Corp

Complete DEF 14A pay-ratio filings for this CIK across FY2021–2025. Year-over-year deltas compare adjacent filing years only; incomplete dollar rows are omitted (same completeness gate as the hero figures).

Latest ratio
25:1
FY2025
vs prior FY
-28:1
from FY2024 53:1
CEO $ YoY
-46%
$1.8M latest
Filings shown
5
FY2021–2025
Mercantile Bank Corp CEO total compensation, median worker pay, and pay ratio by fiscal year from SEC EDGAR DEF 14A.
FY CEO pay Δ pay Median worker Pay ratio Δ ratio
2021 $1.2M - $53,499 59:1 -
2022 $1.4M +18% $57,823 7:1 -52:1
2023 $1.5M +3.4% $63,298 35:1 +28:1
2024 $3.3M +124% $62,428 53:1 +18:1
2025 $1.8M -46% $71,306 25:1 -28:1

Source: SEC EDGAR DEF 14A pay-ratio disclosures for CIK 1042729, FY2021–2025. Adjacent-year deltas only.

Industry Comparison - Depository Institutions

This Company's Ratio
25:1
Industry Median Ratio
43:1
Industry Median CEO Pay
$3.0M
This CEO's Pay
$1.8M
Companies in Industry
136
vs. Industry Median
Below
#90 of 136 by pay ratio in this industry View all companies in Depository Institutions →

Mercantile Bank Corp: MODEST · LIGHT pay ratio

Mercantile Bank Corp's FY2025 CEO total $1.8M ranks #1170 of 1,423 complete filings (lower third by dollars). the CEO earned 25× the median employee ($71,306) in FY2025.

Median employee $71,306 (HIGH-MED); MODEST · LIGHT stamps put about 25 median-wage years per CEO year.

CEO Total Pay

$1.8M

FY2025 Summary Compensation, below median

Pay Ratio

25:1

Below typical

Mercantile Bank Corp in the lower-dollar third

Mercantile Bank Corp's FY2025 CEO total $1.8M ranks #1170 of 1,423 complete filings (lower third by dollars). The structured pay-ratio disclosure reports the total without line-item components. Depository Institutions (SIC 60) median ratio is 43:1 across 136 FY2025 filers; Mercantile Bank Corp's $1.8M CEO total is at or below the $3.0M industry median CEO pay.

Dollar rank #1170 and ratio rank #1165 split - treat 25:1 as a disclosure, not a fairness score. Open Depository Institutions peers.

Key Data, FY2025

Total Compensation
$1.8M
Median Employee Pay
$71,306
Pay Ratio
25:1
Filing Date
2026-04-02

Company Info

Ticker
MBWM
CIK
1042729
Industry
Depository Institutions
SIC Code
6022
State
MI
View SEC filings →
SEC EDGAR DEF 14A for CIK 1042729, FY2025. Informational only, not investment advice. Verify on EDGAR.

Read our methodology - how this data is sourced, computed, and verified. Mercantile Bank Corp's FY2025 CEO total $1.8M ranks #1170 of 1,423 complete filings (lower third by dollars).

Read with Mercantile Bank Corp

ABS(ceo_total_comp) peers first, then a SIC pole and a stamp-branched guide - not a fixed Related strip. This page stamps MODEST · LIGHT · HIGH-MED.

Duolingo, Inc. · LIGHT

ABS(ceo_total_comp) peer at $1.8M (Δ $3K lighter vs Mercantile Bank Corp); FLOOR · ELITE-MED vs this page's MODEST · LIGHT · HIGH-MED.
Covenant Logistics Group, Inc. · LIGHT

ABS(ceo_total_comp) peer at $1.8M (Δ $12K heavier vs Mercantile Bank Corp); FLOOR · PAR-MED vs this page's MODEST · LIGHT · HIGH-MED.
Nvr Inc · LIGHT

ABS(ceo_total_comp) peer at $1.8M (Δ $14K lighter vs Mercantile Bank Corp); FLOOR · HIGH-MED vs this page's MODEST · LIGHT · HIGH-MED.
Bank First Corp · LIGHT

ABS(ceo_total_comp) peer at $1.8M (Δ $18K heavier vs Mercantile Bank Corp); MODEST · PAR-MED vs this page's MODEST · LIGHT · HIGH-MED.
Smartfinancial Inc. (SIC 60 pole)

Smartfinancial Inc. stamps MODEST · UNFILED nearest in-SIC by ABS(pay_ratio) to Mercantile Bank Corp's MODEST filing.
National dual ranks · #1170/#1165

Mercantile Bank Corp's FY2025 package sits #1170 by CEO dollars and #1165 by ratio under LIGHT · MODEST.
Ratio primer · MODEST

Mercantile Bank Corp's MODEST stamp sits in the lower Item 402(u) band - start with how the ratio is disclosed before comparing peers.
Data sourced from SEC EDGAR DEF 14A for Mercantile Bank Corp (CIK 1042729), FY2025. See our methodology. Aggregated by PlainCEOPay as of August 2026.

Data currency: Executive compensation from SEC EDGAR DEF 14A proxy statements through fiscal year 2025, compiled and last refreshed August 2026. See our methodology for source dates and refresh cadence. Spot a figure that looks wrong? Report a correction.