Raymond Reitsma is President and Chief Executive Officer of Mercantile Bank Corp (MBWM). The company reported total compensation of $1,769,983 for fiscal year 2025.
| Salary | $734,600 |
|---|---|
| Bonus | $0 |
| Stock awards | $471,283 |
| Option awards | $0 |
| Non-equity incentive plan | $462,798 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $101,302 |
| Total | $1,769,983 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure Mercantile Bank Corp filed April 2, 2026, accession 0001437749-26-010964.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | President and Chief Executive Officer | $734,600 | $0 | $471,283 | $0 | $462,798 | $0 | $101,302 | $1,769,983 |
| FY2023 | Executive Vice President of Mercantile, and President of the Bank | $484,784 | $0 | $316,208 | $0 | $242,392 | $0 | $92,464 | $1,135,848 |
Totals as disclosed in each year's own compensation disclosure for Mercantile Bank Corp.
| Peer-group chief executive median | $2,109,337 |
|---|---|
| Difference from that median | $-339,354 |
| Percentile within the disclosed peer group | 33rd |
| Peers with a disclosed figure | 15 |
Medians and percentiles are computed across the peer group Mercantile Bank Corp discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Raymond Reitsma this page | President and Chief Executive Officer | $1,769,983 |
| Charles Christmas | Executive Vice President, Chief Financial Officer and Treasurer | $899,980 |
| Mark Augustyn | Executive Vice President, Chief Commercial Banking Officer | $892,642 |
| Scott Setlock | Executive Vice President, Chief Operating Officer and Secretary | $697,728 |
| Brett Hoover | Executive Vice President, Chief Human Resource Officer | $557,042 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full Mercantile Bank Corp compensation brief.
Raymond Reitsma's compensation sits inside Mercantile Bank Corp's full executive and board picture — the peer group, pay against peers, incentive design and the board itself.