Mercantile Bank Management
Management criteria checks 3/4
Mercantile Bank's CEO is Ray Reitsma, appointed in Jun 2024, has a tenure of less than a year. total yearly compensation is $1.14M, comprised of 42.7% salary and 57.3% bonuses, including company stock and options. directly owns 0.46% of the company’s shares, worth €3.41M. The average tenure of the management team and the board of directors is 1.3 years and 4.3 years respectively.
Key information
Ray Reitsma
Chief executive officer
US$1.1m
Total compensation
| CEO salary percentage | 42.7% |
| CEO tenure | less than a year |
| CEO ownership | 0.5% |
| Management average tenure | 1.3yrs |
| Board average tenure | 4.3yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | US$80m |
| Jun 30 2024 | n/a | n/a | US$81m |
| Mar 31 2024 | n/a | n/a | US$83m |
| Dec 31 2023 | US$1m | US$485k | US$82m |
| Sep 30 2023 | n/a | n/a | US$84m |
| Jun 30 2023 | n/a | n/a | US$79m |
| Mar 31 2023 | n/a | n/a | US$71m |
| Dec 31 2022 | US$962k | US$441k | US$61m |
| Sep 30 2022 | n/a | n/a | US$51m |
| Jun 30 2022 | n/a | n/a | US$50m |
| Mar 31 2022 | n/a | n/a | US$56m |
| Dec 31 2021 | US$871k | US$406k | US$59m |
| Sep 30 2021 | n/a | n/a | US$61m |
| Jun 30 2021 | n/a | n/a | US$57m |
| Mar 31 2021 | n/a | n/a | US$48m |
| Dec 31 2020 | US$782k | US$401k | US$44m |
| Sep 30 2020 | n/a | n/a | US$43m |
| Jun 30 2020 | n/a | n/a | US$45m |
| Mar 31 2020 | n/a | n/a | US$48m |
| Dec 31 2019 | US$734k | US$371k | US$49m |
| Sep 30 2019 | n/a | n/a | US$48m |
| Jun 30 2019 | n/a | n/a | US$45m |
| Mar 31 2019 | n/a | n/a | US$43m |
| Dec 31 2018 | US$677k | US$347k | US$42m |
| Sep 30 2018 | n/a | n/a | US$38m |
| Jun 30 2018 | n/a | n/a | US$37m |
| Mar 31 2018 | n/a | n/a | US$35m |
| Dec 31 2017 | US$614k | US$330k | US$31m |
Compensation vs Market: Ray's total compensation ($USD1.14M) is about average for companies of similar size in the German market ($USD1.47M).
Compensation vs Earnings: Ray's compensation has been consistent with company performance over the past year.
CEO
Ray Reitsma (61 yo)
less than a year
Tenure
US$1,135,848
Compensation
Mr. Raymond E. Reitsma, also known as Ray, has been the President of Mercantile Bank since January 1, 2017 and is its Chief Executive Officer from June 1, 2024. Mr. Reitsma served as Executive Vice Preside...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | less than a year | US$1.14m | 0.46% € 3.4m | |
| Executive VP | 26.8yrs | US$813.08k | 0.72% € 5.3m | |
| Executive VP & Chief Human Resource Officer | 1.8yrs | US$434.71k | 0.087% € 644.4k | |
| Executive VP | less than a year | no data | 0.17% € 1.3m | |
| Senior VP and Chief Compliance & Community Development Officer of Mercantile Bank | no data | no data | no data | |
| Chief Commercial Banking Officer of Mercantile Bank | no data | no data | no data | |
| Senior VP & Head of Risk Management Department | no data | no data | no data | |
| Executive VP & Senior Lending Officer of Mercantile Bank | no data | no data | no data | |
| Senior VP & Chief Retail Banking Officer of Mercantile Bank | no data | no data | no data | |
| Executive VP & Senior Lending Officer of Mercantile Bank | no data | no data | no data | |
| Senior VP & Chief Community Banking Officer of Mercantile Bank | no data | no data | no data | |
| Senior VP and Training & Marketing Director of Mercantile Bank | no data | no data | no data |
1.3yrs
Average Tenure
57.5yo
Average Age
Experienced Management: MCS's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 1.1yrs | US$1.14m | 0.46% € 3.4m | |
| Independent Director | 4.3yrs | US$64.67k | 0.078% € 579.5k | |
| Independent Chairman | 27.8yrs | US$90.30k | 0.33% € 2.5m | |
| Director | 7.9yrs | US$1.48m | 0.70% € 5.2m | |
| Independent Director | 7.9yrs | US$68.58k | 0.11% € 812.1k | |
| Lead Independent Director | 4.3yrs | US$62.39k | 0.058% € 429.1k | |
| Independent Director | less than a year | no data | 0.020% € 152.3k | |
| Independent Director | 1.1yrs | US$49.00k | 0.027% € 197.3k |
4.3yrs
Average Tenure
60yo
Average Age
Experienced Board: MCS's board of directors are considered experienced (4.3 years average tenure).