MBWM · Mercantile Bank Corp · Executive Compensation

$60.34 +0.01 (+0.02%)

Russell 2000 member Rebalance outlook locked

Market Cap

$1.04B

17.29M

Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.

Fiscal 2024

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Raymond E. Reitsma	President and Chief Executive Officer of Mercantile and the Bank	$627,500	—	—	—	$458,850	$95,440	$1,181,790
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$415,000	—	—	—	$190,900	$70,927	$676,827
Mark S. Augustyn	Executive Vice President, Chief Commercial Banking Officer of of the Bank	$420,777	—	—	—	$169,363	$62,944	$653,979
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$299,463	—	$37,622	—	$175,519	$85,770	$598,620
Scott P. Setlock	Executive Vice President, Chief Operating Officer and Secretary of Mercantile and of the Bank	$330,000	—	—	—	$132,825	$51,935	$514,760
Brett E. Hoover	Executive Vice President, Chief Human Resource Officer of Mercantile and of the Bank	$275,000	—	—	—	$94,875	$45,678	$415,553

Fiscal 2023

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$665,700	—	$348,673	—	$366,135	$97,211	$1,477,989
Raymond E. Reitsma	President and Chief Executive Officer of Mercantile and the Bank	$484,784	—	$316,208	—	$242,392	$92,464	$1,135,848
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$394,921	—	$186,707	—	$157,968	$73,484	$813,080
Brett E. Hoover	Executive Vice President, Chief Human Resource Officer of Mercantile and of the Bank	$220,000	—	$109,989	—	$66,000	$38,724	$434,713
Robert T. Worthington	Senior Vice President, Chief Risk Officer, Secretary and General Counsel of Mercantile and the Bank	$260,000	—	$53,788	—	$52,000	$27,290	$395,799

Fiscal 2022

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$634,000	—	$366,133	—	$348,700	$81,115	$1,430,026
Raymond E. Reitsma	President and Chief Executive Officer of Mercantile and the Bank	$440,784	—	$242,387	—	$198,353	$80,629	$962,153
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$374,921	—	$177,706	—	$151,222	$63,317	$767,166
Robert T. Worthington	Senior Vice President, Chief Risk Officer, Secretary and General Counsel of Mercantile and the Bank	$260,000	—	$51,970	—	$52,000	$27,637	$392,393
Lonna L. Wiersma	Senior Vice President and Human Resources Director of Mercantile and the Bank	$54,417	$40,000	—	—	—	$17,020	$111,437
Brett E. Hoover	Executive Vice President, Chief Human Resource Officer of Mercantile and the Bank	—	—	—	—	—	—	—

Fiscal 2021

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$519,000	—	$348,700	—	$286,163	$54,989	$1,208,919
Raymond E. Reitsma	Executive Vice President of Mercantile, and President of the Bank	$405,784	—	$220,395	—	$185,207	$59,274	$870,660
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$374,921	—	$168,732	—	$149,308	$47,452	$740,413
Lonna L. Wiersma	Senior Vice President and Human Resources Director of Mercantile and the Bank	$270,783	—	—	—	$103,307	$39,023	$413,113
Robert T. Worthington	Senior Vice President, Chief Risk Officer, Secretary and General Counsel of Mercantile and the Bank	$260,000	—	$52,011	—	$74,145	$22,183	$408,981
Brett E. Hoover	Executive Vice President, Chief Human Resource Officer of Mercantile and the Bank	—	—	—	—	—	—	—

Fiscal 2020

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$538,962	—	$285,431	—	$204,356	$58,581	$1,087,367
Raymond E. Reitsma	Executive Vice President, and Chief Operating Officer of Mercantile, and President of the Bank	$400,621	—	$202,891	—	$118,146	$60,498	$782,156
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$389,341	—	$168,690	—	$114,819	$49,875	$722,725
Lonna L. Wiersma	Senior Vice President and Human Resources Director of Mercantile and the Bank	$281,197	—	$94,767	—	$65,127	$40,727	$481,818
Robert T. Worthington	Senior Vice President, Chief Risk Officer, Secretary and General Counsel of Mercantile and the Bank	$270,000	—	$90,998	—	$62,563	$26,972	$450,867

Fiscal 2019

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$499,000	—	$285,426	—	$174,650	$55,165	$1,014,368
Raymond E. Reitsma	Chief Operating Officer of Mercantile, and President of the Bank	$370,783	—	$192,860	—	$113,552	$57,217	$734,412
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$374,921	—	$168,686	—	$114,819	$47,630	$706,056
Lonna L. Wiersma	Senior Vice President and Human Resources Director of Mercantile and the Bank	$270,783	—	$94,754	—	$65,157	$42,287	$472,981
Robert T. Worthington	Senior Vice President, Chief Risk Officer, Secretary and General Counsel of Mercantile and the Bank	$260,000	—	$90,978	—	$62,563	$26,782	$441,424

Fiscal 2018

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$478,500	—	$249,501	—	$167,475	$55,716	$951,266
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$364,000	—	$168,710	—	$111,475	$48,258	$692,443
Raymond E. Reitsma	Executive Vice President of Mercantile, and President of the Bank	$346,526	—	$166,864	—	$106,124	$57,344	$676,858
Lonna L. Wiersma	Senior Vice President and Human Resources Director of Mercantile and the Bank	$262,895	—	$94,760	—	$63,259	$41,662	$462,576
Robert T. Worthington	Chief Operating Officer, Senior Vice President, General Counsel and Secretary of Mercantile and the Bank	$245,000	—	$103,988	—	$69,672	$30,129	$449,366

Fiscal 2017

Executive	Role	Salary	Bonus	Stock Awards	Option Awards	Incentive	Other	Total
Robert B. Kaminski Jr.	President and Chief Executive Officer of Mercantile, and Chief Executive Officer of the Bank	$435,000	—	$204,105	—	$117,450	$37,065	$793,665
Raymond E. Reitsma	Executive Vice President of Mercantile, and President of the Bank	$330,025	—	$148,440	—	$89,107	$46,555	$614,127
Charles E. Christmas	Executive Vice President, Chief Financial Officer and Treasurer of Mercantile, and Executive Vice President and Chief Financial Officer of the Bank	$350,000	—	$129,885	—	$94,500	$34,418	$608,803
Robert T. Worthington	Chief Operating Officer, Senior Vice President, General Counsel and Secretary of Mercantile and the Bank	$215,000	—	$129,885	—	$58,050	$15,014	$418,250
Lonna L. Wiersma	Senior Vice President and Human Resources Director of Mercantile and the Bank	—	—	—	—	—	—	—

Executive changes

Person	Role	Change	Effective	Filed
Steve Schweihofer	director	Appointed	2025-12-31	2025-12-31
Shoran R. Williams	Director	Appointed	2025-01-01	2024-12-19
Richard D. MacDonald	Director	Appointed	2025-01-01	2024-12-19
Joseph D. Jones	Director	Appointed	2025-01-01	2024-12-19
Sara A. Schmidt	Director	Appointed	2025-01-01	2024-12-19
Thomas D. Dickinson	Director	Appointed	2025-01-01	2024-12-19

Key facts CIK 1042729 CUSIP 587376104 13F (30d) 124 filings 124 filers Visit website Investor relations