Mercantile Bank Corporation (MBWM)

Mercantile Bank Balance Sheet

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	473.32	393.01	130.53	61.89	975.16
Securities and Investments	1,102	730.35	638.61	620.66	610.75
Other Earning Assets	17.16	15.82	18.61	38.44	16.12
Gross Loans	4,822	4,601	4,304	3,917	3,453
Allowance for Loan Losses	-58.19	-54.45	-49.91	-42.25	-35.36
Net Loans	4,764	4,546	4,254	3,874	3,418
Net Property, Plant & Equipment	62.47	53.43	50.93	51.48	57.3
Other Intangible Assets	20.39	0	-	-	1.35
Goodwill	72.66	49.47	49.47	49.47	49.47
Long-Term Investments	105.34	93.84	85.67	80.73	75.24
Other Non-Earning Assets	217.95	169.91	125.57	95.58	54.27
Total Assets	6,835	6,052	5,353	4,873	5,258
Interest-bearing deposits	3,945	3,434	2,653	2,108	2,405
Noninterest-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 Interbank Borrowing and Repurchase Agreements	558.51	508.6	697.64	502.6	571.46
Accrued Expenses	96.7	121.02	93.9	78.21	24.64
Long-Term Debt	140.67	139.64	138.62	137.59	121.89
Other Liabilities	30	0	-	-	-
Total Liabilities	6,110	5,468	4,831	4,431	4,801
Common Stock	349.43	299.71	295.11	290.44	285.75
Accumulated Other Comprehensive Income	-24	-49.83	-50.49	-65.34	-3.73
Retained Earnings	399.45	334.65	277.53	216.31	174.54
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	140.67	139.64	138.62	137.59	121.89
Net Cash (Debt)	-140.67	-139.64	-138.62	-137.59	-121.89
Net Cash Per Share	-8.66	-8.66	-8.65	-8.68	-7.62
Book Value	724.88	584.53	522.15	441.41	456.56
Book Value Per Share	44.64	36.24	32.60	27.83	28.56
Tangible Book Value	631.84	535.05	472.67	391.94	405.74
Tangible Book Value Per Share	38.91	33.17	29.51	24.71	25.38

Updated Jan 20, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q