WYOMING, Mich., July 3 /PRNewswire-FirstCall/ -- For the second
consecutive year, Mercantile Bank Corporation (Nasdaq: MBWM), parent company
of Mercantile Bank of West Michigan, has been named to the "FORTUNE SMALL
BUSINESS 100: America's Fastest Growing Small Companies" ("FSB 100") list.
Mercantile moved up in ranking from 38th last year to 28th in 2003, and was
ranked 6th among the 34 bank and thrift holding companies named to the list.
Only 23 of last year's FSB 100 companies were again named to the 2003 FSB 100
list.
Mercantile Bank of West Michigan is a full-service commercial bank serving
businesses and individuals across the Grand Rapids and Holland, Michigan area
with a full range of lending and deposit products. Since its opening in
December, 1997, the Bank has achieved strong growth in all aspects of its
operations, including a 73% increase in net income from 2001 to 2002.
Gerald R. Johnson, Mercantile's Chairman and CEO, stated, "We are
gratified once again to receive national recognition for our performance.
Mercantile's second year as a member of the FSB 100 list confirms that our
strong growth is not a short-term phenomenon. Mercantile continues to perform
exceptionally well across changing economic cycles and interest rate
environments. Our success reflects the combination of a vibrant business
community, dedicated employees, and a strategy based on an unmatched level of
personal service."
Inclusion on the FSB 100 list is based on an average of revenue growth,
earnings per share growth, and stock performance over the last three fiscal
years for companies trading on a major exchange and with annual revenues under
$200 million. The list is available online at www.fortune.com/fortune/Fsb100 .
It also appears in the July/August issue of FSB: Fortune Small Business, on
newsstands beginning July 1.
About Mercantile Bank Corporation
Mercantile Bank Corporation is the bank holding company for Mercantile
Bank of West Michigan. The Bank's primary service area is the Kent and Ottawa
County area of West Michigan, which includes the City of Grand Rapids, the
second-largest city in the State of Michigan. The Bank, through its main
office and four full-service branches in greater Grand Rapids, provides a wide
variety of commercial banking services primarily to businesses, individuals
and governmental units. In addition, a retail mortgage loan production office
is located in Holland, Michigan, a community located thirty miles southwest of
Grand Rapids. Mercantile Bank Corporation's common stock is listed on the
Nasdaq National Market under the symbol "MBWM."
Forward-Looking Statements
This news release contains comments or information that constitute
forward-looking statements (within the meaning of the Private Securities
Litigation Reform Act of 1995) that are based on current expectations that
involve a number of risks and uncertainties. Actual results may differ
materially from the results expressed in forward-looking statements. Factors
that might cause such a difference include changes in interest rates and
interest rate relationships; demand for products and services; the degree of
competition by traditional and non-traditional competitors; changes in banking
regulation; changes in tax laws; changes in prices, levies, and assessments;
the impact of technological advances; governmental and regulatory policy
changes; the outcomes of contingencies; trends in customer behavior as well as
their ability to repay loans; changes in the national and local economy; and
other factors, including risk factors, referred to from time to time in
filings made by Mercantile with the Securities and Exchange Commission.
Mercantile undertakes no obligation to update or clarify forward-looking
statements, whether as a result of new information, future events or
otherwise.
SOURCE Mercantile Bank Corporation
-0- 07/03/2003
/CONTACT: Gerald R. Johnson, Jr., Chairman & CEO, +1-616-406-3700, or
gjohnson@mercbank.com, or Charles Christmas, Chief Financial Officer,
+1-616-406-3750, or cchristmas@mercbank.com, both of Mercantile Bank
Corporation; or Media, Linda Margolin of Margolin & Associates, Inc.,
+1-216-765-0953, lmm@margolinIR.com, for Mercantile Bank Corporation/
/Web site: http://www.fortune.com/fortune/Fsb100 /
(MBWM)
CO: Mercantile Bank Corporation; Mercantile Bank of West Michigan
ST: Michigan
IN: FIN MAG PUB
SU: AWD
JK-KK
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2109 07/03/200308:00 EDThttp://www.prnewswire.com