Mercantile Bank Corporation (MBWM) financial statements (2021 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6262347520018489162
Cash and cash equivalents6262347520018489162
Disposal group, including discontinued operation      2
Total current assets:6262347520018489163
Noncurrent Assets
Property, plant and equipment59574846454749
Intangible assets, net (including goodwill)52535557596265
Goodwill49494949494949
Intangible assets, net (excluding goodwill)2468101316
Total noncurrent assets:111111103103105109114
Other undisclosed assets3,7003,2893,1852,9832,7942,7052,616
TOTAL ASSETS:4,4373,6333,3643,2873,0832,9042,893
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt138143144119132155168
Total current liabilities:138143144119132155168
Noncurrent Liabilities
Other undisclosed liabilities3,8573,0742,8452,8022,6102,4152,398
Total liabilities:3,9963,2162,9892,9212,7422,5702,565
Stockholders' equity
Stockholders' equity attributable to parent, including:442417375366341334328
Common stock302305308310305305 
Accumulated other comprehensive income (loss)54(8)(5)(6)10
Retained earnings1341087561412810
Other undisclosed stockholders' equity attributable to parent      318
Total stockholders' equity:442417375366341334328
TOTAL LIABILITIES AND EQUITY:4,4373,6333,3643,2873,0832,9042,893

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues14816614614313512797
Net investment income14815814212611811289
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:13416514414013212797
Operating expenses(20)(18)(17)(61)(59)(58)(51)
Other operating income, net
(Noninterest Income, Other Operating Income)
1221321
Operating income:11614913080757247
Nonoperating income
(Bank Owned Life Insurance Income)
1413111
Interest and debt expense(26)(34)(22)(16)(13)(11)(11)
Other undisclosed loss from continuing operations before equity method investments, income taxes(36)(58)(57)(21)(17)(23)(12)
Income from continuing operations before income taxes:55605246473925
Income tax expense(11)(11)(10)(15)(15)(12)(8)
Net income available to common stockholders, diluted:44494231322717

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:44494231322717
Comprehensive income:44494231322717
Other undisclosed comprehensive income (loss), net of tax, attributable to parent212(3)2(7)16
Comprehensive income, net of tax, attributable to parent:46613933252823

Statements sources

The financial statements are based on the company's filings with the 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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