Note 24 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables)

12 Months Ended

Dec. 31, 2017

Notes Tables

Condensed Balance Sheet [Table Text Block]

	201 7		201 6
ASSETS
Cash and cash equivalents	$	9,704,000	$	4,257,000
Investment in bank subsidiary		383,941,000		365,291,000
Other assets		20,435,000		20,665,000
Total assets	$	414,080,000	$	390,213,000
LIABILITIES AND SHAREHOLDERS ’ EQUITY
Liabilities	$	2,693,000	$	4,567,000
Subordinated debentures		45,517,000		44,835,000
Shareholders ’ equity		365,870,000		340,811,000
Total liabilities and shareholders ’ equity	$	414,080,000	$	390,213,000

Condensed Income Statement [Table Text Block]

	2017			2016			2015
Income
Interest and dividends from subsidiaries	$	16,203,000		$	32,521,000		$	24,166,000
Total income		16,203,000			32,521,000			24,166,000
Expenses
Interest expense		2,496,000			2,490,000			2,569,000
Other operating expenses		3,651,000			2,953,000			2,276,000
Total expenses		6,147,000			5,443,000			4,845,000
Income before income tax benefit and equity in undistributed net income of subsidiary		10,056,000			27,078,000			19,321,000
Federal income tax benefit		(4,060,000	)		(836,000	)		(2,051,000	)
Equity in undistributed net income of subsidiary		17,158,000			3,999,000			5,648,000
Net income	$	31,274,000		$	31,913,000		$	27,020,000
Comprehensive income	$	32,821,000		$	25,069,000		$	28,267,000

Condensed Cash Flow Statement [Table Text Block]

	201 7			201 6			201 5
Cash flows from operating activities
Net income	$	31,274,000		$	31,913,000		$	27,020,000
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed net income of subsidiary		(17,158,000	)		(3,999,000	)		(5,648,000	)
Stock-based compensation expense		1,981,000			1,459,000			684,000
Stock grants to directors for retainer fees		363,000			327,000			403,000
Gain on trust preferred securities repurchase		0			(2,970,000	)		0
Change in other assets		(230,000	)		387,000			11,000
Change in other liabilities		(677,000	)		78,000			4,717,000
Net cash from operating activities		15,553,000			27,195,000			27,187,000
Cash flows from investing activities
Net capital investment into subsidiaries		0			0			0
Net cash for investing activities		0			0			0
Cash flows from financing activities
Stock option exercises, net of cashless exercises		318,000			978,000			891,000
Employee stock purchase plan		46,000			36,000			44,000
Dividend reinvestment plan		1,576,000			1,601,000			655,000
Repurchase of common shares		0			(3,732,000	)		(15,762,000	)
Cash dividends on common stock		(12,046,000	)		(18,731,000	)		(9,516,000	)
Repurchase of trust preferred securities		0			(8,030,000	)		0
Net cash for financing activities		(10,106,000	)		(27,878,000	)		(23,688,000	)
Net change in cash and cash equivalents		5,447,000			(683,000	)		3,499,000
Cash and cash equivalents at beginning of period		4,257,000			4,940,000			1,441,000
Cash and cash equivalents at end of period	$	9,704,000		$	4,257,000		$	4,940,000