401(k) · DOL Form 5500 · 2022

Mercantile Bank 401(k) Plan

Data updated 2026-08-25

$81M
Total assets Below avg plan size
656
Participants Below avg headcount
92nd
Percentile by assets National rank
$123,510
Avg per participant Near avg balance/head
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Official DOL plan name: Mercantile Bank 401(k) Plan · Sponsored by Mercantile Bank · Michigan · Finance & Insurance

$81M in assets, 656 participants

Mercantile Bank's Mercantile Bank 401(k) Plan reported $81M in total assets and 656 participants in its 2022 DOL Form 5500 filing, ranking in the 92nd percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #8,005 in Finance & Insurance (9,261 peers)

Where Mercantile Bank 401(k) Plan sits by assets

Mercantile Bank 401(k) Plan sits in the top 10% of all filed plans by assets, $81M for 656 participants (~$123,510/participant), down 13.7% in 2022.

#8,005
in Finance & Insurance (9,261 peers)
-13.7%
assets change YoY
0.8×
vs typical plan assets (national mean)

The plan reported a net loss of $13M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Mercantile Bank 401(k) Plan's outsized position by total assets

Mercantile Bank 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$81,022,547 Top 8% higher than 92% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Mercantile Bank 401(k) Plan among mid-size filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Mercantile Bank 401(k) Plan sits mid-pack in the medium band (656 participants).

EBSA filing schedule strip

Filing strip 383360868 · Mercantile Bank PY 2022 · 401(k)

Mercantile Bank 401(k) Plan · $81M · 656 · 92nd

  • TYPE $81M
  • NET 656
  • BOOK 92nd
  • VS-ST 401(k)
  • BOY near Ashfield Employee Savings Plan
  • SCH ind #8005

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Michigan →

Mercantile Bank 401(k) Plan in the asset neighbourhood

Arkansas Children's Defined Contribution Retirement PlanArkansas Children's Defined …$81MAshfield Employee Savings PlanAshfield Employee Savings Pl…$81MMacallister Retirement Savings PlanMacallister Retirement Savin…$81MMercantile Bank 401(k) Plan$81MToyo Retirement Plan$81M
End-of-year total assets ($M) among Mercantile Bank 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2022.

Scale-class filing particulars (2022)

Total Assets (Beginning of Year)$94M
Net Assets (End of Year)$81M
Net Income-$13M
Employer EIN383360868
Plan Effective Date1998-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Mercantile Bank)

Sponsor-wide plan assets over time

All Mercantile Bank plans reported in each filing year

Latest sponsor-wide plan assets
$110M 35.57451976916993% vs 2022
2024 filing year
$70M$80M$90M$100M$110M$120M 202220232024 $81M $110M ▲ +35.6%
Year Plans Participants Total Assets
2022 1 656 $81M
2023 1 670 $101M
2024 1 690 $110M

Nearby 401(k) Plans in Michigan

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Mercantile Bank 401(k) Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -505101520 Total assets ($B) Participants Mercantile Bank 401(k) Plan, Total assets ($B): 0.081022547 · Participants: 656Mercantile Bank 401(k) PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 18.071817726 · Participants: 43382General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 13.833597622 · Participants: 32974Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 9.307640951 · Participants: 16930The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 7.545889119 · Participants: 40458The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 6.44558193 · Participants: 57811Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Mercantile Bank 401(k) Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Mercantile Bank 401(k) Plan side-by-side with 3 peers →

Mercantile Bank 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Ashfield Employee Savings Plan in PA ($81M); by covered participants it is The Murphy Oil Corporation 401(k) Plan in TX (656 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($81M here).

Similar participant headcount

Nearest other-state filings by covered participants (656 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Mercantile Bank 401(k) Plan assets move in 2022? ▼
Mercantile Bank 401(k) Plan pulled back noticeably - down 13.7% during 2022, from $94M to $81M. Reported net income was -$13M.
How have Mercantile Bank plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Mercantile Bank's sponsor-wide assets grew 35.6%, from $81M to $110M.
Where does Mercantile Bank 401(k) Plan rank by assets among Form 5500 filers? ▼
Mercantile Bank 401(k) Plan ranks in the 92nd percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to Mercantile Bank 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Ashfield Employee Savings Plan in PA ($81M, 682 participants).
Which 401(k) plans cover a similar participant headcount to Mercantile Bank 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is The Murphy Oil Corporation 401(k) Plan in TX (656 participants, $187M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 383360868.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.