401(k) · DOL Form 5500 · 2024

Mercantile Bank 401(k) Plan

Data updated 2026-08-25

$110M
Total assets Near avg plan size
690
Participants Below avg headcount
91st
Percentile by assets National rank
$159,197
Avg per participant Above avg balance/head
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Official DOL plan name: Mercantile Bank 401(k) Plan · Sponsored by Mercantile Bank · Michigan · Finance & Insurance

$110M in assets, 690 participants

Mercantile Bank's Mercantile Bank 401(k) Plan reported $110M in total assets and 690 participants in its 2024 DOL Form 5500 filing, ranking in the 91st 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.

  • #7,360 in Finance & Insurance (8,549 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, $110M for 690 participants (~$159,197/participant), up 8.9% in 2024.

#7,360
in Finance & Insurance (8,549 peers)
+8.9%
assets growth YoY
1.1×
vs typical plan assets (national mean)

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 2024 · DOL Form 5500

$109,845,929 Top 9% higher than 91% of 123,620 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 2024

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

Plan-year 2024 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 (690 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Mercantile Bank 401(k) Plan reported net income fell from $20M in the plan year 2023 filing to $9M in the plan year 2024 filing.
  • Mercantile Bank 401(k) Plan end-of-year assets rose from $101M in the plan year 2023 filing to $110M in the plan year 2024 filing.
  • Mercantile Bank 401(k) Plan reported participants rose from 670 in the plan year 2023 filing to 690 in the plan year 2024 filing.

See the national 2023→2024 release diff →

DOL schedule card

Filing strip 383360868 · Mercantile Bank PY 2024 · 401(k)

Mercantile Bank 401(k) Plan · $110M · 690 · 91st

  • IND $110M
  • EOY 690
  • 5500 91st
  • ASSETS 401(k)
  • PCT near Whiteford, Taylor & Preston LLP Partners & Staff 401(k) Savings Plan
  • EIN ind #7360

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

Atlantic Aviation Fbo Inc. 401(k) PlanAtlantic Aviation Fbo Inc. 4…$110MMesa Air Group Inc 401(k) PlanMesa Air Group Inc 401(k) Pl…$110MThe Azek Company 401(k) Plan$110MMercantile Bank 401(k) Plan$110MWhiteford, Taylor & Preston LLP Partners & Staff 401(k) Savings PlanWhiteford, Taylor & Preston …$110M
End-of-year total assets ($M) among Mercantile Bank 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)$101M
Net Assets (End of Year)$110M
Net Income$9M
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 -100102030 Total assets ($B) Participants Mercantile Bank 401(k) Plan, Total assets ($B): 0.109845929 · Participants: 690Mercantile Bank 401(k) PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 23.0591668 · Participants: 43053General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 17.26893589 · Participants: 31790Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.768606712 · Participants: 17128The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 9.568379082 · Participants: 42513The 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): 8.2932975 · Participants: 60497Ford 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 Whiteford, Taylor & Preston LLP Partners & Staff 401(k) Savings Plan in MD ($110M); by covered participants it is Hancock Lumber Company, Inc. Profit Sharing/401(k) Plan in ME (690 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($110M here).

Similar participant headcount

Nearest other-state filings by covered participants (690 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Mercantile Bank 401(k) Plan grew at a solid clip - up 8.9% during 2024, from $101M to $110M. Reported net income was $9M.
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 91st percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (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 Whiteford, Taylor & Preston LLP Partners & Staff 401(k) Savings Plan in MD ($110M, 298 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 Hancock Lumber Company, Inc. Profit Sharing/401(k) Plan in ME (690 participants, $47M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.