What is Mercantile Bank Corporation's Shariah compliance score?

Mercantile Bank Corporation's (MBWM) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Mercantile Bank Corporation pass AAOIFI screening?

Mercantile Bank Corporation (MBWM) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (MBWM: 78.4%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 6,200+ stocks at halalscreener.app.

How much purification is needed for Mercantile Bank Corporation stock?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the exact percentage and amount for Mercantile Bank Corporation (MBWM) using the latest financial data.

Where can I screen Mercantile Bank Corporation for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Mercantile Bank Corporation (MBWM) and 5,100+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about MBWM's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

MBWM: Is Mercantile Bank Corporation Halal?

Mercantile Bank Corporation

NASDAQFinancial ServicesUS

$59.88

-0.73%

Market Cap: 1.0B

Compliance Status

Not Halal

Screened on Sep 3, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Mercantile Bank Corporation (MBWM) halal? Not Halal. Based on AAOIFI screening, Mercantile Bank Corporation has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Mercantile Bank Corporation (MBWM) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Sep 3, 2026. Source: https://halalscreener.app/en/stock/MBWM

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

78.4% of 30.0% limit

What this means for you

Most scholars advise not holding MBWM

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Mercantile Bank Corporation

Mercantile Bank Corporation serves as the parent holding company for Mercantile Bank of Michigan, providing a full spectrum of commercial and personal banking solutions to small and mid-sized businesses, as well as individual customers, across the United States. The institution facilitates a diverse range of deposit offerings, including checking, savings, term certificates, time deposits, and certificates of deposit (CDs). Its extensive lending portfolio encompasses commercial and industrial financing; loans for vacant land, property development, and new home construction; mortgages for both owner-occupied and investment real estate (such as multi-family and rental properties); single-family residential loans; home equity lines of credit (HELOCs); and various consumer loans, including funding for new and pre-owned vehicles, watercraft, credit cards, and overdraft protection, alongside residential mortgage and installment options. Beyond core banking, Mercantile Bank supplies additional conveniences like courier services and secure deposit boxes. It also markets a comprehensive array of insurance policies, such as coverage for private auto, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella liability, small business needs, and life insurance. The bank's infrastructure further includes 22 automated teller machines (ATMs) and 19 video banking machines. As of January 18, 2022, the company maintained 44 branch locations. Established in 1997, Mercantile Bank Corporation's main office is situated in Grand Rapids, Michigan.

Sector: Financial Services · Industry: Banks - Regional

Shariah Compliance Status

AAOIFI Standard 21Updated Sep 3, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Banks - Regional

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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iShares Silver Trust

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PSLVA+

Sprott Physical Silver Trust

$21.30

+6.23%

PHYSA+

Sprott Physical Gold Trust

$31.75

+0.19%

CEFA+

Sprott Physical Gold and Silver Trust

$43.28

+4.44%

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Free · No credit card required

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Frequently Asked Questions

Is Mercantile Bank Corporation (MBWM) halal to invest in?

Mercantile Bank Corporation (MBWM) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Mercantile Bank Corporation get a F compliance rating?

Mercantile Bank Corporation (MBWM) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 78.4% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Mercantile Bank Corporation's Shariah verdict?

Mercantile Bank Corporation's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Mercantile Bank Corporation re-screened for Shariah compliance?

Mercantile Bank Corporation (MBWM) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Sep 3, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.