Note 19 - Subordinated Debentures (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Subordinated Borrowing [Table Text Block]

	Preferred Securities
Trust Name	Outstanding		Interest Rate	Maturity Date
Mercantile Bank Capital Trust I	$	21,000,000	3 Month Libor + 218 bps	September 16, 2034
Firstbank Capital Trust I	$	10,000,000	3 Month Libor + 199 bps	October 18, 2034
Firstbank Capital Trust II	$	10,000,000	3 Month Libor + 127 bps	April 7, 2036
Firstbank Capital Trust III	$	7,500,000	3 Month Libor + 135 bps	July 30, 2037
Firstbank Capital Trust IV	$	7,500,000	3 Month Libor + 135 bps	July 30, 2037