GRAND RAPIDS and ALMA,
Mich., Dec. 12, 2013
/PRNewswire/ -- Mercantile Bank Corporation ("Mercantile")
(NASDAQ: MBWM) and Firstbank Corporation ("Firstbank") (NASDAQ:
FBMI) today announced the results of their respective special
meetings of shareholders held this morning.
The shareholders of both companies overwhelmingly voted to
approve the Agreement and Plan of Merger providing for the merger
of Mercantile and Firstbank. Over 99% of the Mercantile
shares and 95% of the Firstbank shares voted on the proposals to
approve the Agreement and Plan of Merger were voted in favor of the
proposals. In addition, Mercantile shareholders approved the
issuance of shares of Mercantile common stock to Firstbank
shareholders pursuant to the Agreement and Plan of Merger.
"We are very pleased to announce that Mercantile's shareholders
have endorsed our proposed merger with Firstbank," said
Michael Price, Chairman of the Board
and Chief Executive Officer of Mercantile. "This is a crucial
milestone in bringing our companies together. We continue to
work toward satisfaction of all closing conditions, and are working
cooperatively with the Federal Reserve Board as it conducts its
review of the proposed combination. We remain confident that
closing will occur in the first quarter of 2014."
Thomas Sullivan, Chief Executive
Officer of Firstbank, continued, "Our shareholders today showed
strong support for our collective efforts to combine two great
community banks to create Michigan's premier community banking
franchise. With integration planning well underway, we remain
confident that our combined company will offer great opportunity
for our customers, shareholders and employees."
About Mercantile Bank Corporation
Based in Grand Rapids,
Michigan, Mercantile Bank Corporation is the bank holding
company for Mercantile Bank of Michigan. Founded in 1997 to
provide banking services to businesses, individuals and
governmental units, the Bank differentiates itself on the basis of
service quality and the expertise of its banking staff.
Mercantile has seven full-service banking offices in Grand Rapids, Holland and Lansing,
Michigan.
About Firstbank Corporation
Firstbank Corporation, headquartered in Alma, Michigan, is a bank holding company
using a community bank local decision-making format with assets of
$1.5 billion and 46 banking offices
serving Michigan's Lower
Peninsula.
Important Information for Investors
Communications in this Current Report on Form 8-K do not
constitute an offer to sell or the solicitation of an offer to buy
any securities or a solicitation of any vote or approval.
Mercantile and Firstbank have filed a registration statement on
Form S-4 (Registration No. 333-191212) that includes a Joint Proxy
Statement of Mercantile and Firstbank and also constitutes a
prospectus of Mercantile and Firstbank. The registration
statement, as amended, was declared effective by the SEC on
November 6, 2013. Mercantile
and Firstbank mailed the definitive Joint Proxy Statement and
Prospectus to their respective shareholders in connection with the
transaction on or about November 7,
2013. Mercantile and Firstbank may also file other documents
with the SEC concerning the proposed merger. INVESTORS AND SECURITY
HOLDERS OF MERCANTILE AND FIRSTBANK ARE URGED TO READ THE JOINT
PROXY STATEMENT AND PROSPECTUS REGARDING THE PROPOSED MERGER AND
OTHER RELEVANT DOCUMENTS THAT HAVE FILED OR TO BE FILED WITH THE
SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT MERCANTILE, FIRSTBANK, THE MERGER AND RELATED
MATTERS. Investors and security holders may obtain a free
copy of the joint proxy statement and prospectus and other
documents containing important information about Mercantile and
Firstbank through the website maintained by the SEC at www.sec.gov.
Copies of the documents filed with the SEC by Mercantile will be
available free of charge on Mercantile's website at
www.mercbank.com on the "Investor Relations" page. Copies of
the documents filed with the SEC by Firstbank will be available
free of charge on Firstbank's website at www.firstbankmi.com.
Forward-Looking Statements
This press release contains comments or information that
constitute forward-looking statements (within the meaning of the
Private Securities Litigation Reform Act of 1995) that are based on
current expectations that involve a number of risks and
uncertainties. These forward looking statements are subject to a
number of factors and uncertainties which could cause Mercantile,
Firstbank, or the combined company's actual results and experience
to differ from the anticipated results and expectations expressed
in such forward looking statements. Forward looking statements
speak only as of the date they are made and neither Mercantile nor
Firstbank assumes any duty to update forward looking statements.
These forward-looking statements include, but are not limited to,
statements about (i) the expected benefits of the transaction
between Mercantile and Firstbank, including future financial and
operating results, accretion and earn-back, cost savings, enhanced
revenues, long term growth, and the expected market position of the
combined company that may be realized from the transaction, and
(ii) Mercantile and Firstbank's plans, objectives, expectations and
intentions and other statements contained in this press release
that are not historical facts. Other statements identified by words
such as "opportunity," "potential," and "will," statements that
Mercantile and Firstbank are "confident" that certain results will
occur, or words of similar meaning, generally are intended to
identify forward-looking statements. These statements are based
upon the current beliefs and expectations of Mercantile's and
Firstbank's management and are inherently subject to significant
business, economic and competitive risks and uncertainties, many of
which are beyond their respective control. In addition, these
forward-looking statements are subject to assumptions with respect
to future business strategies and decisions that are subject to
change. Actual results may differ materially from those indicated
or implied in the forward-looking statements. Although
Mercantile and Firstbank have signed an agreement, there is no
assurance that they will complete the proposed merger. The merger
agreement will terminate if the companies do not receive the
necessary government approvals, or if any conditions to closing are
not satisfied. Additional information concerning risks is contained
in Mercantile's and Firstbank's most recently filed Annual Reports
on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent
Current Reports on Form 8-K and other SEC filings.
SOURCE Mercantile Bank Corporation; Firstbank Corporation
