Mercantile Appoints New Members to Bank Board of Directors
On December 1, 2022, Mercantile Bank Corporation (NASDAQ: MBWM) announced the appointment of two new directors, Amy L. Sparks and Nelson F. Sanchez, to its Board of Directors. Sparks brings nearly 30 years of experience in financial performance and organizational development, while Sanchez has a strong background in finance, operations, and strategic planning. These appointments aim to enhance diverse perspectives and support the bank's growth strategy, aligning with Mercantile's commitment to service quality and expertise as it operates 46 banking offices with approximately $5 billion in assets.
- Appointment of experienced directors expected to enhance board diversity.
- Sparks and Sanchez bring extensive industry experience that may support growth.
- Concerns about continuity and experience gaps with new board members.
GRAND RAPIDS, Mich., Dec. 1, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile"), announced today the appointments of Amy L. Sparks, CPA and Nelson F. Sanchez, CPA to the Bank's Board of Directors in the second half of 2022.
"We are thrilled to welcome two new Directors who bring a wealth of experience in business, finance and manufacturing as we expand the diversification of perspectives across our Board. Amy's executive leadership of solidifying financial performance, organizational development, diversifying into new markets and increased employee engagement, coupled with Nelson's deep experience in a variety of business sectors encompassing domestic, international, private, public, and family-owned organizations across start-ups, turnarounds, mergers, acquisitions, joint ventures, and strategic planning will help support our growth as a leading community bank," said Robert B. Kaminski Jr., President and Chief Executive Officer of Mercantile.
Ms. Sparks has nearly three decades of demonstrated expertise and success. She is the Owner, President, and Chief Executive Officer of Nuvar, Inc., a Michigan-based manufacturing company specializing in finished product contract manufacturing for the office furniture, health care, education, appliance and transportation industries. Ms. Sparks is also a Certified Public Accountant and currently serves on the Grand Valley State University Seidman School of Business Dean's Advisory Board and is the West Michigan Chair of the Great Lakes Women's Business Council.
Mr. Sanchez is a strong finance executive with broad strategic leadership experience in all aspects of finance, operations, marketing and general management. He is the Chief Operating Officer of RoMan Manufacturing, Inc., where he has also served as the Chief Financial Officer. Nelson is a Certified Public Accountant, is fluent in Spanish and has an extensive background in leadership and diversity training. He serves on various boards and committees in the West Michigan community, including the Grand Rapids Community Foundation, Grand Rapids Chamber of Commerce and Holland Home.
Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank. Mercantile provides banking services to businesses, individuals, and governmental units, and differentiates itself on the basis of service quality and the expertise of its banking staff. Mercantile has assets of approximately
Forward-Looking Statements
This news release contains statements or information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods. Any such statements are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in forward-looking statements. Factors that might cause such a difference include changes in interest rates and interest rate relationships; increasing rates of inflation and slower growth rates; significant declines in the value of commercial real estate; market volatility; demand for products and services; the degree of competition by traditional and nontraditional financial services companies; changes in banking regulation or actions by bank regulators; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; potential cyber-attacks, information security breaches and other criminal activities; litigation liabilities; governmental and regulatory policy changes; the outcomes of existing or future contingencies; trends in customer behavior as well as their ability to repay loans; changes in local real estate values; damage to our reputation resulting from adverse publicity, regulatory actions, litigation, operational failures, and the failure to meet client expectations and other facts; changes in the method of determining Libor and the phase-out of Libor; changes in the national and local economies, including the ongoing disruption to financial markets and other economic activity caused by the COVID-19 pandemic and unstable political and economic environments; and other factors, including those expressed as risk factors, disclosed from time to time in filings made by Mercantile with the Securities and Exchange Commission. Mercantile undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.
For Further Information: | |
Robert B. Kaminski, Jr. | Charles Christmas |
President & CEO | Executive Vice President & CFO |
616-726-1502 | 616-726-1202 |
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SOURCE Mercantile Bank Corporation
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