Note 5 - Deposits

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

5.

    

DEPOSITS

Our total deposits at

June 30, 2019

totaled

$2.62

billion, an increase of

$156

million, or

6.3%,

from

December 

31,

2018.

The components of our outstanding balances at

June 30, 2019

and

December 31, 2018,

and percentage change in deposits from the end of

2018

to the end of the

second

quarter of

2019,

are as follows:

	June 30, 2019					December 31, 2018					Percent Increase
	Balance		%			Balance		%			(Decrease)
Noninterest-bearing checking	$	918,581,000		35.1	%	$	889,784,000		36.1	%		3.2	%
Interest-bearing checking		286,531,000		10.9			339,089,000		13.8			(15.5	)
Money market		484,177,000		18.5			434,333,000		17.6			11.5
Savings		270,563,000		10.3			317,014,000		12.9			(14.7	)
Time, under $100,000		205,452,000		7.8			160,092,000		6.5			28.3
Time, $100,000 and over		284,460,000		10.9			210,164,000		8.5			35.4
Total local deposits		2,449,764,000		93.5			2,350,476,000		95.4			4.2
Out-of-area time, under $100,000		0	NA				0	NA			NA
Out-of-area time, $100,000 and over		169,445,000		6.5			113,232,000		4.6			49.6
Total out-of-area deposits		169,445,000		6.5			113,232,000		4.6			49.6
Total deposits	$	2,619,209,000		100.0	%	$	2,463,708,000		100.0	%		6.3	%

Total time deposits of more than

$250,000

totaled

$319

million and

$232

million at

June 30, 2019

and

December 31, 2018,

respectively.

(Continued) 

MERCANTILE BANK CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)