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Stock impact report

Federal Reserve Bank of Chicago approves Mercantile Bank-Eastern merger [Yahoo! Finance]

Mercantile Bank Corporation (MBWM) 
Last mercantile bank corporation earnings: 4/21 06:01 am Check Earnings Report
US:NASDAQ Investor Relations: mercbank.com/about
Company Research Source: Yahoo! Finance
In October, Mercantile and Eastern entered into an agreement and plan of merger, under which Eastern will merge with and into Shamrock Merger Sub, a wholly-owned acquisition subsidiary of Mercantile (Merger Sub). This Merger Sub will then be merged upstream into Mercantile, making Mercantile the surviving entity. Following completion of the deal, Mercantile will temporarily operate as a two-bank holding company. Until the first quarter of 2027, the newly purchased Eastern Michigan Bank will operate along with Mercantile's existing bank, Mercantile Bank. At that time, Mercantile plans to consolidate Eastern Michigan Bank into Mercantile Bank, pending regulatory approvals from the Federal Deposit Insurance Corporation and the Michigan Department of Insurance and Financial Services. All necessary regulatory approvals for the Mercantile Eastern merger have now been received. The completion of the merger remains subject to Eastern shareholder approval and the fulfilment of cus Show less Read more
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