Mercantile Bank Corporation Announces Retirement of President and Chief Executive Officer Robert B. Kaminski, Jr.

Mr. Kaminski intends to retire in 2024, at which time Raymond E. Reitsma is expected to be appointed President and Chief Executive Officer

GRAND RAPIDS, Mich., Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that President and Chief Executive Officer ("CEO") Robert B. Kaminski. Jr., intends to retire effective June 1, 2024. Mr. Kaminski will remain on the Board of Directors.   In conjunction with Mr. Kaminski’s retirement, Raymond E. Reitsma will be appointed President and CEO of Mercantile effective June 1, 2024. Mr. Reitsma will continue to serve in his current role as Executive Vice President and Chief Operating Officer until June 1, 2024.

Mr. Kaminski commented, “The management succession process is an ongoing responsibility which is very important to our Board, and reflects many years of thoughtful consideration about the future leadership of our company. Ray has been with Mercantile for more than 20 years, maintaining key leadership roles, including the last seven as President of our subsidiary, Mercantile Bank. We have complete confidence that Mercantile, with Ray at the helm in his new role as President and CEO, will continue fulfilling the role of trusted partner for our clients and the communities we serve, as well as adding value for our shareholders. It has been my absolute privilege to be a part of the formation of Mercantile over 26 years ago, and President and CEO for the last seven years. I look forward to continuing my association with Mercantile as a Director in the years ahead.”

Mercantile Board of Directors Chair Michael H. Price commented, “Congratulations to Bob on his retirement and his remarkable 40-year banking career!   It's hard to overstate the impact he has made during his time at Mercantile, including his instrumental role in its formation in 1997.   Bob's hard work and dedication have undoubtedly contributed to the pillars of Mercantile's success.   His steady leadership as CEO has taken our company to new heights. It’s wonderful that Bob will now have more time for family and other interests. Mercantile is simultaneously fortunate that his wisdom and insight will still be retained as he continues his service as a Director of our company.”