Mercantile Bank Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2016 - 2020
Cash & Equivalents	296.07	393.01	130.53	96.77	975.16	626.01	Upgrade
Investment Securities	802.04	704.98	587.62	570.98	550.94	362.46	Upgrade
Trading Asset Securities	25.93	26.79	27.51	26.17	4.61	1	Upgrade
Mortgage-Backed Securities	24.38	25.37	29.47	31.95	41.8	24.89	Upgrade
Total Investments	852.35	757.15	644.6	629.11	597.35	388.35	Upgrade
Gross Loans	4,698	4,601	4,304	3,917	3,456	3,198	Upgrade
Allowance for Loan Losses	-58.38	-54.45	-49.91	-42.25	-35.36	-37.97	Upgrade
Other Adjustments to Gross Loans	-	-	-	-	-2.5	-4.4	Upgrade
Net Loans	4,640	4,546	4,254	3,874	3,418	3,156	Upgrade
Property, Plant & Equipment	54.79	53.43	50.93	51.48	57.3	58.96	Upgrade
Goodwill	49.47	49.47	49.47	49.47	49.47	49.47	Upgrade
Other Intangible Assets	-	-	-	-	1.35	2.44	Upgrade
Loans Held for Sale	27.57	15.82	18.61	3.57	16.12	22.89	Upgrade
Accrued Interest Receivable	21.68	21.4	19.81	15.48	9.31	10.86	Upgrade
Other Real Estate Owned & Foreclosed	-	-	0.2	-	-	0.7	Upgrade
Other Long-Term Assets	217.9	194.04	163.72	134.65	115.59	104.17	Upgrade
Total Assets	6,181	6,052	5,353	4,873	5,258	4,437	Upgrade
Interest Bearing Deposits	2,741	2,684	2,032	1,846	2,106	1,589	Upgrade
Institutional Deposits	788.44	749.68	621.75	261.61	299.12	389.57	Upgrade
Non-Interest Bearing Deposits	1,181	1,265	1,248	1,605	1,678	1,433	Upgrade
Total Deposits	4,710	4,698	3,901	3,713	4,083	3,412	Upgrade
Short-Term Borrowings	242.79	121.52	229.73	194.34	197.46	118.37	Upgrade
Current Portion of Long-Term Debt	117.3	107.91	27.96	26.38	4.86	1.03	Upgrade
Current Portion of Leases	0.59	1.05	-	-	-	-	Upgrade
Accrued Interest Payable	10.21	10.2	9.01	3.22	1.39	2.31	Upgrade
Other Current Liabilities	-	0.18	0.1	0.11	0.21	-	Upgrade
Long-Term Debt	89.49	89.31	88.97	88.63	73.65	-	Upgrade
Federal Home Loan Bank Debt, Long-Term	265.32	306.22	467.91	308.26	374	394	Upgrade
Long-Term Leases	3.64	3.37	3.7	3.5	2.8	-	Upgrade
Trust Preferred Securities	50.67	50.33	49.64	48.96	48.24	47.56	Upgrade
Other Long-Term Liabilities	59	79.18	53.13	45	15.38	20.97	Upgrade
Total Liabilities	5,549	5,468	4,831	4,431	4,801	3,996	Upgrade
Common Stock	302.29	299.71	295.11	290.44	285.75	302.03	Upgrade
Retained Earnings	364.99	334.65	277.53	216.31	174.54	134.04	Upgrade
Comprehensive Income & Other	-35.77	-49.83	-50.49	-65.34	-3.73	5.49	Upgrade
Shareholders' Equity	631.52	584.53	522.15	441.41	456.56	441.55	Upgrade
Total Liabilities & Equity	6,181	6,052	5,353	4,873	5,258	4,437	Upgrade
Total Debt	769.79	679.72	867.92	670.07	701.01	560.96	Upgrade
Net Cash (Debt)	-447.79	-259.91	-709.89	-547.12	278.76	66.05	Upgrade
Net Cash Growth	-	-	-	-	322.02%	-	Upgrade
Net Cash Per Share	-27.68	-16.11	-44.32	-34.50	17.44	4.06	Upgrade
Filing Date Shares Outstanding	16.25	16.23	16.12	16	15.84	16.26	Upgrade
Total Common Shares Outstanding	16.25	16.15	16.13	15.99	15.84	16.33	Upgrade
Book Value Per Share	38.87	36.20	32.38	27.60	28.82	27.04	Upgrade
Tangible Book Value	582.05	535.05	472.67	391.94	405.74	389.65	Upgrade
Tangible Book Value Per Share	35.82	33.14	29.31	24.50	25.61	23.86	Upgrade

Source: S&P Global Market Intelligence. Banks template. Financial Sources.