Lenders › Mercantile Bank › Michigan
Mercantile Bank in Michigan
HMDA record for properties in Michigan, calendar year 2024. National record · Michigan overview
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.
Mercantile Bank's 2024 HMDA record for Michigan covers 3,033 applications, 2,103 of them originated, worth $517m.
Its denial rate in the state was 15.3%, below the Michigan rate of 23.9% across all lenders and compared with the lender's national rate of 15.2%.
The median rate spread on its Michigan originations was 0.4 percentage points (state median 0.5).
Applications in the state were up 33% on 2023.
Compared with the state and the lender's national record
| Measure | In Michigan | Michigan, all lenders | Mercantile Bank, all states | United States |
|---|---|---|---|---|
| Denial rate | 15.3% | 23.9% | 15.2% | 24.3% |
| Median rate spread, pp | 0.4 | 0.5 | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 6.9% | 18.4% | 6.9% | 15.6% |
| Average originated loan | $246k | $212k | $248k | $329k |
| Home purchase share | 61.6% | 51.2% | 61.9% | 57.0% |
| FHA-insured share | 4.2% | 10.0% | 4.1% | 13.4% |
| VA-guaranteed share | 0.0% | 4.5% | 0.0% | 7.9% |
Trend by year
ApplicationsOriginations
This lender in stateMichigan, all lenders
Loan purpose and loan type in Michigan
By purpose
Home purchase 62% (1,296)Home improvement 13% (281)Refinancing 11% (237)Cash-out refinancing 6% (122)Other purpose 8% (167)
By type
Conventional 96% (2,012)FHA 4% (88)USDA 0% (3)
Denial reasons as coded
Share of 381 denials in Michigan by first denial reason coded (outlined bar: all lenders in the state).
Counties in Michigan
| County | Applications | Originations | Amount | Denial rate |
|---|---|---|---|---|
| Kent County | 663 | 460 | $123m | 15.0% |
| Ottawa County | 253 | 187 | $56m | 12.5% |
| Emmet County | 200 | 158 | $50m | 7.1% |
| Isabella County | 150 | 108 | $16m | 14.8% |
| Allegan County | 119 | 91 | $30m | 12.3% |
| Gratiot County | 110 | 80 | $8.4m | 12.0% |
| Kalamazoo County | 101 | 76 | $18m | 9.3% |
| Ionia County | 100 | 75 | $12m | 14.8% |
| Ogemaw County | 87 | 46 | $4.5m | 32.9% |
| Charlevoix County | 63 | 45 | $16m | 11.8% |
| Montcalm County | 67 | 44 | $7.2m | 19.3% |
| Clare County | 66 | 42 | $6.0m | 19.2% |
| Saginaw County | 57 | 42 | $6.2m | 14.3% |
| Mecosta County | 54 | 40 | $7.1m | 14.9% |
| Cheboygan County | 45 | 35 | $6.7m | 10.3% |
| Midland County | 50 | 34 | $5.1m | 19.0% |
| Van Buren County | 45 | 30 | $8.0m | 16.7% |
| Barry County | 41 | 30 | $8.9m | 14.3% |
| Grand Traverse County | 48 | 29 | $16m | 19.4% |
| Wexford County | 45 | 29 | $5.1m | 12.1% |
| Ingham County | 38 | 25 | $3.7m | 23.5% |
| Oscoda County | 38 | 25 | $2.5m | 21.9% |
| Leelanau County | 38 | 24 | $12m | 11.1% |
| Clinton County | 31 | 23 | $3.7m | 17.9% |
| Newaygo County | 35 | 22 | $6.4m | 21.4% |
| Muskegon County | 28 | 21 | $6.0m | — |
| Roscommon County | 43 | 20 | $3.0m | 39.4% |
| Bay County | 26 | 16 | $2.2m | — |
| Iosco County | 26 | 13 | $1.1m | — |
| Wayne County | 25 | 13 | $1.5m | — |
Counties with at least 25 applications, by originations.
Questions and answers
How many mortgages did Mercantile Bank originate in Michigan in 2024?
2,103 loans totalling $517m, from 3,033 applications reported for properties in Michigan.
What is Mercantile Bank's denial rate in Michigan?
15.3% of decided applications in Michigan were denied, against 23.9% for all lenders in the state and 15.2% for this lender nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.
Which Michigan counties does Mercantile Bank lend in most?
By originations: Kent County (460), Ottawa County (187), Emmet County (158), Isabella County (108), Allegan County (91).
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), filtered to the lender's LEI and the property state. Cells under 25 applications are withheld.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records for this LEI with a property in Michigan. Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.