A local bank is implementing its succession plan.
Mercantile Bank Corporation president and CEO Michael Price will retire from those positions on Jan. 1, 2017, when EVP and COO Robert Kaminski Jr. will assume president and CEO responsibilities.
Price will continue to serve in his role as chairman until May 2018.
“I have worked closely with Bob for over 32 years, since before we were both founding executives of our company,” Price said. “I have absolute confidence that Bob will be an excellent CEO going forward."
Price said the decision to retire and appoint Kaminski as his successor reflects a management succession process that the board developed over many years.
Mercantile board member David Cassard said the organization is “very pleased" that Price will remain on the board, "continuing to be an invaluable resource for the bank."
One of six original employees of the bank since its founding in 1997, Kaminski has served in the role of COO since 2000.
He was appointed president of Mercantile Bank of Michigan in 2007 and CEO of Mercantile Bank of Michigan in 2015.
A graduate of Aquinas College, Kaminski also holds board positions with the Heart of West Michigan United Way, Boys & Girls Clubs of Grand Rapids, West Michigan Policy Forum and City of Wyoming Retirement Board.
Cassard said Kaminski “has unmatched knowledge of our markets and is deeply familiar with all our operations.”
Headquartered in Grand Rapids, Mercantile Bank Corporation is the bank holding company for Mercantile Bank of Michigan.
With assets of about $3 billion, Mercantile operates 48 banking offices in central and western Michigan.