XML 90 R36.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 2 - Business Combination (Tables)
12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block]

Purchase Price:

       

Mercantile common shares issued for Firstbank common shares

    8,087,272  

Price per share, based on Mercantile closing price on May 30, 2014

  $ 21.43  

Value of common stock issued

    173,310,000  

Value of replacement stock options granted

    1,664,000  

Total purchase price

  $ 174,974,000  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

Preliminary Statement of Net Assets Acquired at Fair Value:

               

Assets

               

Cash and cash equivalents

  $ 91,806,000          

Securities

    358,599,000          

Total loans

    943,662,000          

Premises and equipment

    24,049,000          

Core deposit intangible

    17,478,000          

Mortgage servicing rights

    7,389,000          

Other assets

    9,897,000          

Total Assets

  $ 1,452,880,000          

Liabilities

               

Deposits

  $ 1,229,609,000          

Borrowings

    87,615,000          

Other liabilities

    10,155,000          

Total Liabilities

  $ 1,327,379,000          

Net Identifiable Assets Acquired

          $ 125,501,000  

Goodwill

          $ 49,473,000  
Business Acquisition, Pro Forma Information [Table Text Block]
   

2014

   

2013

 

Net interest income

  $ 98,607,000     $ 93,862,000  

Noninterest expense

    81,295,000       93,263,000  

Net income

    22,659,000       16,068,000  

Net income per diluted share

    1.33       0.96  
Business Acquisition, Fair Value of Loans Acquired [Table Text Block]
   

Acquired

   

Acquired

   

Acquired

 
   

Impaired

   

Non-Impaired

   

Total Loans

 

Commercial Loans:

                       

Commercial & industrial

  $ 878,000     $ 163,316,000     $ 164,194,000  

Commercial real estate

    12,973,000       378,016,000       390,989,000  

Construction & development

    1,289,000       33,726,000       35,015,000  

Total Commercial Loans

  $ 15,140,000     $ 575,058,000     $ 590,198,000  
                         

Consumer Loans:

                       

Residential mortgages

  $ 9,694,000     $ 216,653,000     $ 226,347,000  

Instalment

    167,000       61,657,000       61,824,000  

Home equity lines

    288,000       52,054,000       52,342,000  

Construction

    76,000       12,875,000       12,951,000  

Total Consumer Loans

  $ 10,225,000     $ 343,239,000     $ 353,464,000  

Total Loans

  $ 25,365,000     $ 918,297,000     $ 943,662,000  
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]
   

Acquired Impaired

 

Contractually required payments

  $ 44,936,000  

Nonaccretable difference

    17,057,000  

Expected cash flows

    27,879,000  

Accretable yield

    2,514,000  

Carrying balance

  $ 25,365,000