Bank shuffles leadership
A bank has made changes to its leadership after a key retirement.
Mercantile Bank Corp., or Mercantile, and its subsidiary, Mercantile Bank of Michigan, or Mercantile Bank, announced last week the retirement of Thomas Sullivan, chairman of the board for Mercantile, and several promotions.
In addition to his duties as Mercantile president and CEO, Michael Price is the new chairman of the board for Mercantile. He also serves as chairman of Mercantile Bank.
Prior to the June 2014 merger, Price served as chairman of Mercantile for seven years.
Sullivan will remain a board member of Mercantile and Mercantile Bank.
Prior to taking the role of chairman following the merger of Firstbank Corp. and Mercantile Bank in June 2014, Sullivan was the president and CEO of Firstbank.
"On behalf of the board and all Mercantile employees, we want to thank Tom for his contributions to Mercantile and Firstbank," Price said. "His leadership and vision provided the framework for stability and growth at Firstbank and were instrumental in the integration of our two organizations. We are fortunate to have Tom remain on the Mercantile Board of Directors, and we will continue to benefit from his expertise."
Mercantile Bank President Robert Kaminski, Jr. has been named CEO of the bank, as Price vacates the position.
Kaminski has been with Mercantile Bank since 1997 and has more than 30 years of banking experience.
"Bob has been an invaluable member of our team and has been instrumental with the integration of Firstbank and Mercantile," Price said. "His experience in all aspects of our operations and his guidance in developing and implementing business strategies are great assets to Mercantile.
Mercantile Bank also said that it has promoted Raymond Reitsma to west region president.