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Eastern Michigan Financial Corp

Full company profile

uuid0008q6o

Namestring
Eastern Michigan Financial Corp
Legal namestring
Eastern Michigan Financial Corporation
Websiteurl
emb.bank
Company typeenum
Private
Founded yearint
1895
Descriptiontext

Eastern Michigan Financial Corporation is a Michigan-chartered bank holding company that, through its wholly-owned subsidiary Eastern Michigan Bank, has operated as a locally-owned community bank since its founding in 1895 as the State Bank of Croswell. Following the December 31, 2025 acquisition by Mercantile Bank Corporation (NASDAQ: MBWM) for approximately $95.8 million, Eastern Michigan Financial Corporation became a wholly-owned subsidiary of Mercantile, with the bank continuing to operate as a separate brand pending Q1 2027 consolidation. Eastern Michigan Bank serves consumer, small business, agricultural, municipal, and non-profit customers across Sanilac, St. Clair, and Huron Counties in Michigan's Thumb region through ten physical branches plus a 24-hour ATM network, supported by 80+ local employees.

Short descriptiontext

Eastern Michigan Financial Corporation is the holding company for Eastern Michigan Bank, a Michigan community bank serving consumers, small businesses, farmers, and municipalities across ten branches in Sanilac, St. Clair, and Huron Counties. Acquired by Mercantile Bank Corporation in December 2025 for $95.8 million.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersCroswell, United States
HQ citystring
Croswell
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices12 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
community banking services, agricultural lending, commercial lending, personal banking accounts, business deposit services
Industry1 code
1Real Estate (Commercial Property, REITs)
CodeFSABACAHPrimaryYes
NAICS code1 code
  • Depository Credit Intermediation5221
SIC code2 codes
  • State Commercial Banks6022
  • Loan Brokers6163
Product category
Community Banking
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model3 records
1Net Interest Income
TypeTransaction Fee
Description

Interest income from loans and securities minus interest paid on deposits. Core banking revenue stream.

prnewswire.com
2Non-Interest Income
TypeTransaction Fee
Description

Fees and charges including service fees, loan-related fees, and other banking service charges

prnewswire.com
3Banking Service Fees
TypeTransaction Fee
Description

Overdraft fees ($32 per item), wire transfers, ATM fees, account service fees, etc.

emb.bank
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels5 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Pricing details8 tiers
1Overdraft and NSF fees
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

$32 per item for paid overdraft, NSF, and returned overdraft fees

emb.bank
2Wire transfer fees
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Incoming domestic $15, incoming foreign $16, outgoing domestic $25, outgoing foreign $45, outgoing through Cash Management $12

emb.bank
3ATM and basic service fees
ModelTransaction based/ take rateBilling cadencePay-as-you-go
Notes

Non-EMB ATM surcharge $1.50, early account closure $25 (first 90 days), statement copy $5

emb.bank
4Business Statement Savings
ModelSubscriptionBilling cadenceMonthly
Notes

$10 minimum deposit to open, $100 average daily balance to avoid $7 quarterly service fee

emb.bank
5Money Market Account
ModelSubscriptionBilling cadenceMonthly
Notes

$2,500 minimum deposit to open, $2,500 average daily balance to avoid $10 monthly service fee, tiered interest rates

emb.bank
6eBusiness Checking
ModelSubscriptionBilling cadenceMonthly
Notes

$100 minimum deposit to open, no monthly service fee, first 50 transactions free, $0.30 per item over 50, eStatements required

emb.bank
7Basic Business Checking
ModelSubscriptionBilling cadenceMonthly
Notes

$500 minimum average balance or $5 monthly service fee, first 100 transactions free, $0.20 per item over 100

emb.bank
8Home Equity Line of Credit
ModelUsage-basedBilling cadencePay-as-you-go
Notes

Variable rates as low as 6.75% APR, no closing costs, variable rate based on Prime Rate, maximum APR 18%

emb.bank
GTM typeB2B and B2C
B2B and B2C
Offering typeServices
Services
Core offering1 text field

Eastern Michigan Financial Corp operates Eastern Michigan Bank, a community bank offering deposit accounts (personal and business checking, savings, money market, CDs, IRAs), consumer lending (vehicle, mortgage, home equity, student loans via partnership), commercial lending (SBA Preferred Lender, equipment, real estate, working capital lines), and agricultural lending (FSA Certified Lender). Services are delivered through 10 branches across Michigan's Thumb region plus online and mobile banking platforms.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 value
  • Eastern Michigan Bank contributes $5.9 million in net interest income to Mercantile Bank's Q1 2026 results
Product overview1 text field

Eastern Michigan Bank operates as a traditional community bank offering a unified suite of deposit, lending, and digital banking products. The core offering consists of personal and business checking and savings accounts (the primary deposit products), complemented by a full range of loan products spanning consumer lending (vehicle loans, mortgages, home equity, student loans via partnership), business lending (commercial real estate, equipment, SBA loans), and agricultural lending. Digital banking is delivered through an integrated online and mobile banking platform that consolidates account access, bill payment, Mobile Deposit, Zelle P2P payments, and telephone banking. Additional services include credit cards (issued via Elan Financial Services), merchant services, ACH processing, Remote Deposit Capture, lockbox services, and an extensive financial calculator suite. Following the December 31, 2025 merger with Mercantile Bank Corporation, Eastern Michigan Bank continues operating as a separate brand while being positioned for consolidation into Mercantile Bank by Q1 2027.

Product and service19 records
1Personal Checking
CategoryPersonal Deposit Products
2Personal Savings
CategoryPersonal Deposit Products
3Youth and Young Adult Accounts
CategoryPersonal Deposit Products
4CDs and IRAs
CategoryPersonal Deposit Products
5Online and Mobile Banking
CategoryDigital Banking
624 Hour Telephone Banking
CategoryDigital Banking
7Debit Cards
CategoryPersonal Banking Cards
8Personal Credit Cards
CategoryPersonal Banking Cards
9Vehicle and Personal Loans
CategoryConsumer Lending
10Mortgages and Home Equity Term Loans
CategoryConsumer Lending
11Home Equity Lines of Credit (HELOC)
CategoryConsumer Lending
12Student Loans
CategoryConsumer Lending
13Business Loans
CategoryCommercial Lending
14Agricultural Loans
CategoryCommercial Lending
15Business Checking
CategoryBusiness Deposit Products
16Business Savings
CategoryBusiness Deposit Products
17Business Credit Cards
CategoryBusiness Banking Cards
18Additional Business Services
CategoryBusiness Banking Services
19Zelle
CategoryDigital Banking
Scale indicator6 records

Each record includes

Type, Value, Description, Source

Partnership3 partners
1Mercantile Bank Corporation
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-12-31
Description

Eastern Michigan Financial Corporation was acquired by Mercantile Bank Corporation in a cash and stock transaction valued at approximately $95.8 million. The merger created a combined organization with approximately $6.9 billion in total assets, making Mercantile the largest bank founded, headquartered, and operated in Michigan. Eastern Michigan Bank will operate separately until Q1 2027 before consolidating into Mercantile Bank pending regulatory approvals.

2College Ave Student Loans
Strategic tierMinorTypeStrategic or Co-development Partner
Description

Partnership for student loan products. Eastern Michigan Bank refers customers to College Ave for undergraduate, graduate, and parent loans, as well as student loan refinancing options.

3Mercantile Bank Corporation
Strategic tierCoreTypeStrategic or Co-development Partner
Description

Mortgage and home equity term loan services are now provided through Mercantile Bank's platform, with Eastern Michigan Bank referring customers to Mercantile's site for mortgage products.

Recent move7 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Peers7 records
1Mercantile Bank Corporation
TypeDirect peer
Description

Michigan-based community bank holding company that acquired Eastern Michigan Financial Corp. Operates similar commercial and consumer banking services across Michigan, making it the most directly comparable peer in terms of product mix, geography, and customer segments.

2Independent Bank Corporation
TypeDirect peer
Description

Michigan-headquartered community bank holding company (IBCP) with comparable size, similar deposit-taking and commercial lending operations, and overlapping retail banking services across Michigan markets.

3Honor Bank
TypeDirect peer
Description

Michigan community bank serving similar northern Michigan rural markets with comparable deposit, consumer lending, and small business banking offerings, providing strong operational comparability to Eastern Michigan Bank.

4Lake Michigan Credit Union
TypeBroad incumbent
Description

Michigan's largest credit union with broad retail and commercial banking services across the state. Overlaps significantly with Eastern Michigan Bank in deposit products, consumer lending, and small business banking, though structured as a credit union rather than a bank.

5Huntington Bancshares
TypeBroad incumbent
Description

Large regional bank holding company with substantial Michigan presence offering consumer and commercial banking. Competes with Eastern Michigan Bank across personal banking, mortgages, and small business lending, though at much larger scale and broader geographic footprint.

6First Merchants Corporation
TypeBroad incumbent
Description

Midwest-focused bank holding company with Michigan operations offering commercial, consumer, and wealth management services. Comparable in business model and product suite, though with broader geographic footprint across multiple states.

7Fifth Third Bank
TypeBroad incumbent
Description

Large regional bank with significant Michigan branch network offering consumer and commercial banking, mortgages, and wealth services. Competes directly with Eastern Michigan Bank's product set across personal and business banking, though at significantly greater scale.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses4 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment5 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile5 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

Integration13 records

Each record includes

Title, Type, Description, Source

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles11 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries2 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance4 records

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Eastern Michigan Financial Corp

Community Bankingemb.bank

Eastern Michigan Financial Corporation is the holding company for Eastern Michigan Bank, a Michigan community bank serving consumers, small businesses, farmers, and municipalities across ten branches in Sanilac, St. Clair, and Huron Counties. Acquired by Mercantile Bank Corporation in December 2025 for $95.8 million.

What Eastern Michigan Financial Corp does

Eastern Michigan Financial Corporation is a Michigan-chartered bank holding company that, through its wholly-owned subsidiary Eastern Michigan Bank, has operated as a locally-owned community bank since its founding in 1895 as the State Bank of Croswell. Following the December 31, 2025 acquisition by Mercantile Bank Corporation (NASDAQ: MBWM) for approximately $95.8 million, Eastern Michigan Financial Corporation became a wholly-owned subsidiary of Mercantile, with the bank continuing to operate as a separate brand pending Q1 2027 consolidation. Eastern Michigan Bank serves consumer, small business, agricultural, municipal, and non-profit customers across Sanilac, St. Clair, and Huron Counties in Michigan's Thumb region through ten physical branches plus a 24-hour ATM network, supported by 80+ local employees.

Eastern Michigan Financial Corp firmographics

Firmographics
Name
Eastern Michigan Financial Corp
Legal name
Eastern Michigan Financial Corporation
Website
https://emb.bank
Company type
Private
Founded year
1895
Operating status
Acquired
Headcount range
51–100 employees
Short description
Eastern Michigan Financial Corporation is the holding company for Eastern Michigan Bank, a Michigan community bank serving consumers, small businesses, farmers, and municipalities across ten branches in Sanilac, St. Clair, and Huron Counties. Acquired by Mercantile Bank Corporation in December 2025 for $95.8 million.
Ownership category
akta.pro rank

Eastern Michigan Financial Corp industry classification

Industry
Product category
Community Banking
NAICS
Depository Credit Intermediation (5221)
SIC
State Commercial Banks (6022), Loan Brokers (6163)
akta.pro primary industry
Real Estate (Commercial Property, REITs) (FSABACAH)

Keywords

  • Community banking services
  • Agricultural lending
  • Commercial lending
  • Personal banking accounts
  • Business deposit services

Where Eastern Michigan Financial Corp is headquartered

Location

Headquarters

HQ city
Croswell
HQ country
United States
HQ region
North America

Offices12 records

Markets served

Eastern Michigan Financial Corp business model

Business model
GTM type
B2B and B2C
Offering type
Services
Cost components
Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

  1. Net Interest Income: Interest income from loans and securities minus interest paid on deposits. Core banking revenue stream.
  2. Non-Interest Income: Fees and charges including service fees, loan-related fees, and other banking service charges
  3. Banking Service Fees: Overdraft fees ($32 per item), wire transfers, ATM fees, account service fees, etc.

Pricing tiers

ModelBillingPrice
Transaction based/ take ratePay-as-you-goOverdraft and NSF fees
Transaction based/ take ratePay-as-you-goWire transfer fees
Transaction based/ take ratePay-as-you-goATM and basic service fees
SubscriptionMonthlyBusiness Statement Savings
SubscriptionMonthlyMoney Market Account
SubscriptionMonthlyeBusiness Checking
SubscriptionMonthlyBasic Business Checking
Usage-basedPay-as-you-goHome Equity Line of Credit

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Eastern Michigan Financial Corp product offering

Product offering

Core offering

Eastern Michigan Financial Corp operates Eastern Michigan Bank, a community bank offering deposit accounts (personal and business checking, savings, money market, CDs, IRAs), consumer lending (vehicle, mortgage, home equity, student loans via partnership), commercial lending (SBA Preferred Lender, equipment, real estate, working capital lines), and agricultural lending (FSA Certified Lender). Services are delivered through 10 branches across Michigan's Thumb region plus online and mobile banking platforms.

Product overview

Eastern Michigan Bank operates as a traditional community bank offering a unified suite of deposit, lending, and digital banking products. The core offering consists of personal and business checking and savings accounts (the primary deposit products), complemented by a full range of loan products spanning consumer lending (vehicle loans, mortgages, home equity, student loans via partnership), business lending (commercial real estate, equipment, SBA loans), and agricultural lending. Digital banking is delivered through an integrated online and mobile banking platform that consolidates account access, bill payment, Mobile Deposit, Zelle P2P payments, and telephone banking. Additional services include credit cards (issued via Elan Financial Services), merchant services, ACH processing, Remote Deposit Capture, lockbox services, and an extensive financial calculator suite. Following the December 31, 2025 merger with Mercantile Bank Corporation, Eastern Michigan Bank continues operating as a separate brand while being positioned for consolidation into Mercantile Bank by Q1 2027.

Differentiator

Problem solved

Functional benefit

Products and services

  • Personal Checking
  • Personal Savings
  • Youth and Young Adult Accounts
  • CDs and IRAs
  • Online and Mobile Banking
  • 24 Hour Telephone Banking
  • Debit Cards
  • Personal Credit Cards
  • Vehicle and Personal Loans
  • Mortgages and Home Equity Term Loans
  • Home Equity Lines of Credit (HELOC)
  • Student Loans
  • Business Loans
  • Agricultural Loans
  • Business Checking
  • Business Savings
  • Business Credit Cards
  • Additional Business Services
  • Zelle

Quantifiable outcome

  • Eastern Michigan Bank contributes $5.9 million in net interest income to Mercantile Bank's Q1 2026 results

Companies that use Eastern Michigan Financial Corp

Customer profile

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Eastern Michigan Financial Corp technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration13 records

Feature1 record

Eastern Michigan Financial Corp partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core and minor.

  • Mercantile Bank CorporationcoreStrategic or Co-development Partner · 31 December 2025Eastern Michigan Financial Corporation was acquired by Mercantile Bank Corporation in a cash and stock transaction valued at approximately $95.8 million. The merger created a combined organization with approximately $6.9 billion in total assets, making Mercantile the largest bank founded, headquartered, and operated in Michigan. Eastern Michigan Bank will operate separately until Q1 2027 before consolidating into Mercantile Bank pending regulatory approvals.
  • College Ave Student LoansminorStrategic or Co-development PartnerPartnership for student loan products. Eastern Michigan Bank refers customers to College Ave for undergraduate, graduate, and parent loans, as well as student loan refinancing options.
  • Mercantile Bank CorporationcoreStrategic or Co-development PartnerMortgage and home equity term loan services are now provided through Mercantile Bank's platform, with Eastern Michigan Bank referring customers to Mercantile's site for mortgage products.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Eastern Michigan Financial Corp competitors and assessment

Company assessment

Direct peers

  • Mercantile Bank Corporation: Michigan-based community bank holding company that acquired Eastern Michigan Financial Corp. Operates similar commercial and consumer banking services across Michigan, making it the most directly comparable peer in terms of product mix, geography, and customer segments.
  • Independent Bank Corporation: Michigan-headquartered community bank holding company (IBCP) with comparable size, similar deposit-taking and commercial lending operations, and overlapping retail banking services across Michigan markets.
  • Honor Bank: Michigan community bank serving similar northern Michigan rural markets with comparable deposit, consumer lending, and small business banking offerings, providing strong operational comparability to Eastern Michigan Bank.

Broad incumbents

  • Lake Michigan Credit Union: Michigan's largest credit union with broad retail and commercial banking services across the state. Overlaps significantly with Eastern Michigan Bank in deposit products, consumer lending, and small business banking, though structured as a credit union rather than a bank.
  • Huntington Bancshares: Large regional bank holding company with substantial Michigan presence offering consumer and commercial banking. Competes with Eastern Michigan Bank across personal banking, mortgages, and small business lending, though at much larger scale and broader geographic footprint.
  • First Merchants Corporation: Midwest-focused bank holding company with Michigan operations offering commercial, consumer, and wealth management services. Comparable in business model and product suite, though with broader geographic footprint across multiple states.
  • Fifth Third Bank: Large regional bank with significant Michigan branch network offering consumer and commercial banking, mortgages, and wealth services. Competes directly with Eastern Michigan Bank's product set across personal and business banking, though at significantly greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Eastern Michigan Financial Corp social profiles

Digital presence

Eastern Michigan Financial Corp compliance and trust

Trust signal

Compliance4 records

Eastern Michigan Financial Corp financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Eastern Michigan Financial Corp leadership team

Management profile

Number of profiles

Profiles11 records

Eastern Michigan Financial Corp subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

Eastern Michigan Financial Corp funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Eastern Michigan Financial Corp M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eastern Michigan Financial Corp

What does Eastern Michigan Financial Corp do?

Eastern Michigan Financial Corp operates Eastern Michigan Bank, a community bank offering deposit accounts (personal and business checking, savings, money market, CDs, IRAs), consumer lending (vehicle, mortgage, home equity, student loans via partnership), commercial lending (SBA Preferred Lender, equipment, real estate, working capital lines), and agricultural lending (FSA Certified Lender). Services are delivered through 10 branches across Michigan's Thumb region plus online and mobile banking platforms.

Is Eastern Michigan Financial Corp a public or private company?

Eastern Michigan Financial Corp is a private company. It is classified as corporate owned and is currently acquired.

When was Eastern Michigan Financial Corp founded?

Eastern Michigan Financial Corp was founded in 1895. It employs 51 to 100 people.

Where is Eastern Michigan Financial Corp based?

Eastern Michigan Financial Corp is headquartered in Croswell, United States, in the North America region.

How does Eastern Michigan Financial Corp make money?

Three revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income and banking Service Fees.

Who are Eastern Michigan Financial Corp's main competitors?

Direct peers on record are Mercantile Bank Corporation, Independent Bank Corporation and Honor Bank. Broad incumbents are Lake Michigan Credit Union, Huntington Bancshares, First Merchants Corporation and Fifth Third Bank.

Does Eastern Michigan Financial Corp have an API?

No public API is recorded for Eastern Michigan Financial Corp.

What industry is Eastern Michigan Financial Corp in?

Eastern Michigan Financial Corp's product category is Community Banking. Its primary akta.pro industry code is FSABACAH, Real Estate (Commercial Property, REITs). Its NAICS code is 5221 and its SIC code is 6022.

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Live signals
Defense WorldMercantile Bank Q1 Earnings Call HighlightsMercantile Bank reported first-quarter 2026 earnings of $22.7 million, or $1.32 per diluted share, up from $19.5 million in the year-ago period, with net income increasing approximately 21% on a non-GAAP adjusted basis excluding one-time acquisition and system conversion costs. The bank attributed the year-over-year improvement to higher net interest income and non-interest income combined with lower provision expense, while its net interest margin expanded 8 basis points to 3.55% despite a 67 basis point decline in the 90-day SOFR average rate over the past five quarters. Management highlighted strong asset quality with non-performing assets at 11 basis points of total assets and progress integrating Eastern Michigan Financial Corporation, which it acquired at the end of 2025, while reaffirming 2026 loan growth guidance of mid-single digit percentages.Stock TitanMercantile Bank wins Crain's M&A Deal of the YearMercantile Bank Corporation has been awarded Crain's Grand Rapids Business M&A Deal of the Year in the Finance and Banking category for its acquisition of Eastern Michigan Financial Corporation, which closed on December 31, 2025. The cash and stock transaction, valued at approximately $95.8 million, created a combined organization with $6.8 billion in total assets, making Mercantile the largest bank founded, headquartered, and operated in Michigan. The award recognizes the transaction's transformational impact, strong financial performance, and commitment to preserving local leadership while expanding Mercantile's statewide footprint.PR NewswireMercantile Bank Corporation Named Crain's Grand Rapids Business M&A Deal of the Year in Finance and BankingMercantile Bank Corporation was awarded Crain's Grand Rapids Business 2026 M&A Deal of the Year in Finance and Banking for its acquisition of Eastern Michigan Financial Corporation, which closed on December 31, 2025. The cash and stock transaction, valued at approximately $95.8 million, created a combined organization with $6.8 billion in total assets, making Mercantile the largest bank founded, headquartered, and operated in Michigan. The award recognized the transaction's transformational impact, strong financial performance, and commitment to preserving local leadership while expanding the bank's statewide footprint.Investing.comMercantile Bank Q4 2025 slides: 11% EPS growth amid strategic acquisition By Investing.comMercantile Bank Corporation reported strong 2025 financial results, including an 11% increase in EPS and the completion of an acquisition of Eastern Michigan Financial Corporation. The acquisition, valued at $95.8 million, aims to strengthen liquidity and expand its presence in Southeast Michigan.PR NewswireMercantile Bank Corporation Announces Strong Fourth Quarter and Full-Year 2025 ResultsMercantile Bank Corporation announced strong financial results for the fourth quarter and full year 2025, including increased net income, asset growth, and the successful acquisition of Eastern Michigan Financial Corporation. The company highlighted improved asset quality, deposit growth, and strategic expansion in Michigan, along with maintaining solid capital positions.Pulse 2.0Mercantile Bank Completes Merger With Eastern Michigan FinancialMercantile Bank has completed its previously announced merger with Eastern Michigan Financial Corporation, combining two Michigan-based financial institutions. The transaction values Eastern shares at $32.32 per share plus 0.7116 shares of Mercantile common stock, with Eastern Michigan Bank expected to operate separately until Q1 2027 before consolidating into Mercantile Bank, pending regulatory approvals. The combined organization will have approximately $6.9 billion in total assets, positioning it among the larger Michigan-based banking groups.Investing.comMercantile Bank completes merger with Eastern Michigan Financial By Investing.comMercantile Bank Corporation announced it has completed its merger with Eastern Michigan Financial Corporation, combining two Michigan-based financial institutions into an organization with approximately $6.9 billion in total assets, making it one of the largest Michigan-based banking organizations. Under the terms of the merger, Eastern shareholders will receive $32.32 per share plus 0.7116 shares of Mercantile common stock for each share held. Eastern Michigan Bank will continue operating alongside Mercantile Bank until Q1 2027, pending regulatory approvals from the FDIC and Michigan Department of Insurance and Financial Services.PR NewswireMercantile Bank Corporation Announces Completion of Merger with Eastern Michigan Financial CorporationMercantile Bank Corporation completed its previously announced merger with Eastern Michigan Financial Corporation on December 31, 2025, bringing together two Michigan-based financial institutions with combined assets of approximately $6.9 billion. Eastern shareholders are receiving $32.32 per share plus 0.7116 shares of Mercantile common stock for each share held. The newly acquired Eastern Michigan Bank will operate separately until the first quarter of 2027, when Mercantile plans to consolidate it into Mercantile Bank pending regulatory approvals from the FDIC and Michigan's Department of Insurance and Financial Services.MarketScreenerMercantile Bank Corporation Announces Completion of Merger with Eastern Michigan Financial CorporationMercantile Bank Corporation completed its previously announced merger with Eastern Michigan Financial Corporation on December 31, 2025, creating a combined banking organization with approximately $6.9 billion in total assets. Eastern shareholders will receive $32.32 per share plus 0.7116 shares of Mercantile common stock for each share held. The newly acquired Eastern Michigan Bank will continue operating alongside Mercantile Bank until Q1 2027, when consolidation is planned pending regulatory approvals from the FDIC and Michigan Department of Insurance and Financial Services.Investing.comMercantile Bank completes merger with Eastern Michigan Financial By Investing.comMercantile Bank Corporation announced it has completed its merger with Eastern Michigan Financial Corporation, combining two Michigan-based financial institutions. Under the terms, Eastern shareholders receive $32.32 per share plus 0.7116 shares of Mercantile common stock, creating a combined entity with approximately $6.9 billion in total assets. The newly acquired Eastern Michigan Bank will continue operating alongside Mercantile until Q1 2027, pending regulatory approvals from the FDIC and Michigan regulators.