Mercantile Bank 401(K) Plan — Form 5500 plan (Mercantile Bank)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Mercantile Bank 401(K) Plan is a benefit plan reported by Mercantile Bank under EIN 38-3360868 and plan number 001. The latest loaded filing year is 2023. The filing reports 885 participants and $100,878,135 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Mercantile Bank
- EIN
- 38-3360868
- Plan number
- 001
- Plan type
- 2
- Location
- Grand Rapids, MI
- Latest filing year
- 2023
- Participants
- 885
- End-of-year plan assets
- $100,878,135
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 885 | H, C | 20240719105755NAL0004294099001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $100,878,135
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $100,878,135
- Net assets (BOY)
- $81,022,547
Income & contributions
- Employer contributions
- $2,318,204
- Participant contributions
- $4,443,575
- Total contributions
- $8,620,846
- Total income / additions
- $24,438,373
Expenses & distributions
- Benefits paid
- $4,353,099
- Administrative expenses
- $229,686
- Total expenses
- $4,582,785
- Net increase / (decrease)
- $19,855,588
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Greenleaf Trust | TRUSTEE | $229,686 | not reported in the loaded dataset | 2023 |