The headquarters of Mercantile Bank of Michigan is in northwest Grand Rapids. Photo via fb.com
A local bank has announced a number of executive promotions as part of its succession plan.
Grand Rapids-based Mercantile Bank Corporation, the holding company for Mercantile Bank of Michigan, said yesterday it will promote Ray Reitsma to president of Mercantile Bank of Michigan, effective Jan. 1.
Doug Ouellette, Mark Augustyn, Doug Holtrop, Justin Karl and Jeff Kaiser also will take on new roles at Mercantile Bank of Michigan, effective Jan. 1.
The succession plan follows Mercantile Bank Corporation’s senior leadership transition, which will see current Mercantile Bank Corporation EVP and COO Robert Kaminski Jr. assume president and CEO roles of Mercantile Bank Corporation. Kaminski will take over from outgoing president and CEO Michael Price, who announced his retirement in July.
“These individuals have demonstrated great ability and a long commitment to Mercantile and its success,” Kaminski said. “We are pleased to make these announcements, both for the individuals involved and as a demonstration of Mercantile's stability, management continuity and succession planning and development."
A 13-year veteran of Mercantile Bank of Michigan, Reitsma currently serves as the bank’s west region president and senior lender.
Ouellette, currently the central region president, will add chief community banking officer responsibilities to his title.
Augustyn, a founding employee of Mercantile Bank of Michigan and currently regional commercial loan manager, will assume Reitsma’s former responsibilities as west region president and senior lender.
Holtrop and Karl each will be named commercial loan managers, moving on from their roles as SVPs in the commercial loan department.
Kaiser, currently loan administrative risk manager, will be named risk management department head.