Mercantile Bank Corporation (MBWM) Financial Statements (2023 and Earlier)

Company Profile

Business Address 310 LEONARD STREET NW
GRAND RAPIDS, MI 49504
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments9756262347520018489
Cash and cash equivalents9756262347520018489
Total current assets:9756262347520018489
Noncurrent Assets
Property, plant and equipment57595748464547
Intangible assets, net (including goodwill)51525355575962
Goodwill49494949494949
Intangible assets, net (excluding goodwill)124681013
Total noncurrent assets:108111111103103105109
Other undisclosed assets4,1743,7003,2893,1852,9832,7942,705
TOTAL ASSETS:5,2584,4373,6333,3643,2873,0832,904
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt291138143144119132155
Total current liabilities:291138143144119132155
Noncurrent Liabilities
Other undisclosed liabilities4,5103,8573,0742,8452,8022,6102,415
Total liabilities:4,8013,9963,2162,9892,9212,7422,570
Stockholders' equity
Stockholders' equity attributable to parent457442417375366341334
Common stock286302305308310305305
Accumulated other comprehensive income (loss)(4)54(8)(5)(6)1
Retained earnings17513410875614128
Total stockholders' equity:457442417375366341334
TOTAL LIABILITIES AND EQUITY:5,2584,4373,6333,3643,2873,0832,904

Income Statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues143148166146143135127
Net investment income143148158142126118112
Cost of revenue (14)(2)(1)(3)(3) 
Provision for loan, lease, and other losses (14)(2)(1)
Financial services costs(3)(3) 
Gross profit:143134165144140132127
Operating expenses(19)(20)(18)(17)(61)(59)(58)
Other operating income, net
(Noninterest Income, Other Operating Income)
3122132
Operating income:127116149130807572
Nonoperating income
(Bank Owned Life Insurance Income)
1141311
Interest and debt expense(19)(26)(34)(22)(16)(13)(11)
Other undisclosed loss from continuing operations before equity method investments, income taxes (36)(58)(57)(21)(17)(23)
Income from continuing operations before equity method investments, income taxes:109556052464739
Other undisclosed loss from continuing operations before income taxes(35)      
Income from continuing operations before income taxes:74556052464739
Income tax expense(15)(11)(11)(10)(15)(15)(12)
Net income available to common stockholders, diluted:59444942313227

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:59444942313227
Comprehensive income:59444942313227
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(9)212(3)2(7)1
Comprehensive income, net of tax, attributable to parent:50466139332528

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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