Mercantile Bank Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	473.32	393.01	130.53	96.77	975.16
Investment Securities	1,102	704.98	587.62	570.98	550.94
Trading Asset Securities	-	26.79	27.51	26.17	4.61
Mortgage-Backed Securities	-	25.37	29.47	31.95	41.8
Total Investments	1,102	757.15	644.6	629.11	597.35
Gross Loans	4,822	4,601	4,304	3,917	3,456
Allowance for Loan Losses	-58.19	-54.45	-49.91	-42.25	-35.36
Other Adjustments to Gross Loans	-	-	-	-	-2.5
Net Loans	4,764	4,546	4,254	3,874	3,418
Property, Plant & Equipment	62.47	53.43	50.93	51.48	57.3
Goodwill	72.66	49.47	49.47	49.47	49.47
Other Intangible Assets	20.39	-	-	-	1.35
Loans Held for Sale	17.16	15.82	18.61	3.57	16.12
Accrued Interest Receivable	-	21.4	19.81	15.48	9.31
Other Real Estate Owned & Foreclosed	-	-	0.2	-	-
Other Long-Term Assets	323.3	194.04	163.72	134.65	115.59
Total Assets	6,835	6,052	5,353	4,873	5,258
Interest Bearing Deposits	3,945	2,684	2,032	1,846	2,106
Institutional Deposits	-	749.68	621.75	261.61	299.12
Non-Interest Bearing Deposits	1,340	1,265	1,248	1,605	1,678
Total Deposits	5,284	4,698	3,901	3,713	4,083
Short-Term Borrowings	232.29	121.52	229.73	194.34	197.46
Current Portion of Long-Term Debt	-	107.91	27.96	26.38	4.86
Current Portion of Leases	-	1.05	-	-	-
Accrued Interest Payable	96.7	10.2	9.01	3.22	1.39
Other Current Liabilities	-	0.18	0.1	0.11	0.21
Long-Term Debt	119.66	89.31	88.97	88.63	73.65
Federal Home Loan Bank Debt, Long-Term	326.22	306.22	467.91	308.26	374
Long-Term Leases	-	3.37	3.7	3.5	2.8
Trust Preferred Securities	51.02	50.33	49.64	48.96	48.24
Other Long-Term Liabilities	-	79.18	53.13	45	15.38
Total Liabilities	6,110	5,468	4,831	4,431	4,801
Common Stock	349.43	299.71	295.11	290.44	285.75
Retained Earnings	399.45	334.65	277.53	216.31	174.54
Comprehensive Income & Other	-24	-49.83	-50.49	-65.34	-3.73
Shareholders' Equity	724.88	584.53	522.15	441.41	456.56
Total Liabilities & Equity	6,835	6,052	5,353	4,873	5,258
Total Debt	729.18	679.72	867.92	670.07	701.01
Net Cash (Debt)	-255.86	-259.91	-709.89	-547.12	278.76
Net Cash Growth	-	-	-	-	322.02%
Net Cash Per Share	-15.76	-16.11	-44.32	-34.50	17.44
Filing Date Shares Outstanding	17.18	16.23	16.12	16	15.84
Total Common Shares Outstanding	17.18	16.15	16.13	15.99	15.84
Book Value Per Share	42.19	36.20	32.38	27.60	28.82
Tangible Book Value	631.84	535.05	472.67	391.94	405.74
Tangible Book Value Per Share	36.78	33.14	29.31	24.50	25.61

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