- people on the move
Bank expanding HQ on West Side
A local bank is expanding its corporate headquarters on the West Side of Grand Rapids.
Mercantile Bank of Michigan is adding 25,000 square feet to its existing 60,000-square-foot main office at 310 Leonard St. NW.
The project cost was not disclosed.
A construction completion date has not been set, but Mercantile estimates it could be ready to move in by late summer.
Raymond Reitsma, president of Mercantile, said the expansion was necessary because the bank had reached capacity in the old space, and the tight quarters were hindering teamwork.
“We are completely out of space in the building,” Reitsma said. “We have groups of employees that will be better able to serve customers if they are better able to collaborate together. The new space will allow that to happen.”
Reitsma added: “We’re happy to be in a position to expand, because we’ve been growing, and we need more people to serve the market.”
The addition is adjacent to the current building on the property the bank already owned.
The current headquarters has 152 employees working in it, and with the expansion, that capacity will be increased to 230, he said.
Reitsma said the bank is “hiring quality employees on a consistent basis” and will continue to do so.
Grand Rapids-based Ghafari Associations/Concept Design is the architect and designer on the project.
The project’s contractor is Grand Rapids-based Rockford Construction.
Mercantile Bank of Michigan — a subsidiary of Mercantile Bank Corporation (Nasdaq: MBWM) — provides banking services to businesses, individuals and governmental units.
The bank operates 47 banking offices throughout central and West Michigan.
As of Dec. 31, 2018, its total assets were $3.36 billion.