Mercantile Bank in Michigan, US, has partnered with banking technology provider Jack Henry as it looks to upgrade its core banking tech ahead of its upcoming merger with Eastern Michigan Bank.
Under the partnership, Mercantile Bank will integrate Jack Henry’s core processing platform. The vendor states this will “advance operations, automate manual processes, and improve system integration” for the community bank.
The bank will also integrate Jack Henry’s Enterprise Workflow solution, which offers business process management tools and will “help the bank increase efficiency, accuracy, and timeliness”, Jack Henry says.
Founded in 1997 and headquartered in Grand Rapids, Mercantile Bank will use the technology selection to bolster the digital delivery of its community-focused suite of banking services.
This suite includes commercial, retail, municipal, non-profit, and agricultural banking services. With approximately $6.2 billion in assets, Mercantile Bank is currently Michigan’s largest community bank.
Scott Setlock, chief operating officer at Mercantile Bank, says the partnership with Jack Henry followed “a rigorous two-year evaluation process involving over 60 stakeholders”.
He adds that the project will support the bank’s long-term growth plans, “namely continuing our organic growth, expanding into new markets, and pursuing acquisitions that are the right strategic fit for our bank”.
In a blog post from August, Nichole Kladder, chief marketing officer at Mercantile Bank, revealed that the transformation with Jack Henry is scheduled for completion in Q1 2027.
Mercantile Bank announced a definitive merger agreement with Eastern Michigan Bank in July. The cash and stock transaction, valued at approximately $95.8 million, will create a company with total assets of $6.7 billion, and is expected to be finalised in Q4 2025. The combined company will assume the Mercantile Bank brand in Q1 2027 as part of the core system transformation with Jack Henry. Kladder states that Eastern Michigan Bank “brings over 40 years of operational experience on the Jack Henry platform”.
Source: https://www.fintechfutures.com/
