Exhibit 99.1

Mercantile Bank Corporation Reports Strong Third Quarter 2021 Results

Sustained strength in core commercial loan originations, asset quality metrics, and operating performance highlight quarter

GRAND RAPIDS, Mich., October 19, 2021 – Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $15.1 million, or $0.95 per diluted share, for the third quarter of 2021, up 40.8 percent from $10.7 million, or $0.66 per diluted share, for the respective prior-year period. Net income during the first nine months of 2021 totaled $47.4 million, or $2.95 per diluted share, up 57.6 percent from $30.1 million, or $1.85 per diluted share, during the first nine months of 2020.

“Mercantile’s talented and dedicated people, commitment to local decision making, and longstanding investments in technology all contributed to the bank’s growth in commercial and residential mortgage loans, earnings, net interest income, and fee income, all while maintaining strong asset quality metrics and operating expense discipline,” said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. “The significant growth in core commercial loans during the quarter, especially when considering the current economic and operating environments, is a noteworthy feat and reflects our commercial lending team’s ongoing concerted effort to meet existing customers’ credit needs and to foster new relationships. Based on our current loan pipeline, we believe core commercial loan originations will remain robust during the fourth quarter and into 2022.”

Third quarter highlights include:

● Strong growth in core commercial loans and residential mortgage loans

● Sustained strength in commercial loan and residential mortgage loan pipelines

● Ongoing strength in asset quality metrics

● Solid earnings and capital position

● Growth in key fee income categories

● Additional growth in local deposits

Operating Results

Total revenue, which consists of net interest income and noninterest income, was $46.7 million during the third quarter of 2021, up $3.9 million, or 9.1 percent, from the prior-year third quarter. Net interest income during the third quarter of 2021 was $31.1 million, up from $29.5 million during the respective 2020 period due to the positive impact of earning asset growth, which more than offset a lower net interest margin. Noninterest income totaled $15.6 million during the third quarter of 2021, up $2.3 million from the third quarter of 2020, mainly due to revenue associated with an interest rate swap program that was introduced during the fourth quarter of 2020. The net interest margin was 2.71 percent in the third quarter of 2021, down from 2.86 percent in the prior-year third quarter, reflecting excess liquidity and a lower yield on securities.

The yield on average earning assets declined from 3.45 percent during the third quarter of 2020 to 3.13 percent during the respective 2021 period due to a change in earning asset mix and a decreased yield on securities. A significant volume of excess on-balance sheet liquidity, which initially surfaced in the second quarter of 2020 as a result of the COVID-19 environment and persisted during the remainder of 2020 and first nine months of 2021, negatively impacted both the yield on average earning assets and the net interest margin by 40 basis points to 50 basis points during the third quarter and first nine months of 2021. The excess funds, consisting primarily of low-yielding deposits with the Federal Reserve Bank of Chicago, are mainly a product of federal government stimulus programs, lower business and consumer investing and spending, and Paycheck Protection Program loan forgiveness activities. The decreased yield on securities mainly depicted lower yields on newly purchased bonds, reflecting the declining interest rate environment, and a reduced level of accelerated discount accretion on called U.S. Government agency bonds.

The cost of funds decreased from 0.59 percent during the third quarter of 2020 to 0.42 percent during the current-year third quarter, primarily due to a change in funding mix, consisting of an increase in lower-costing non-time deposits as a percentage of total funding sources, and lower rates paid on local time deposits, reflecting the declining interest rate environment.

Mercantile recorded provision expense of $1.9 million and $3.2 million during the third quarters of 2021 and 2020, respectively. The provision expense recorded during the current-year third quarter mainly reflected net commercial loan growth, while the provision expense recorded during the prior-year third quarter was primarily comprised of increased allocations associated with the downgrading of certain non-impaired commercial loan relationships to reflect stressed economic conditions stemming from the COVID-19 environment.

Noninterest income during the third quarter of 2021 was $15.6 million, an increase of 17.0 percent when compared to the prior-year third quarter. The higher level of noninterest income mainly reflected fee income generated from an interest rate swap program that was introduced during the fourth quarter of 2020, which provides certain commercial borrowers with a longer-term fixed-rate option and assists Mercantile in managing associated longer-term interest rate risk. Growth in debit and credit card income and service charges on accounts also contributed to the increased level of noninterest income. Mortgage banking income remained sound in the third quarter of 2021 as sustained strength in purchase mortgage originations largely mitigated the negative impacts of an expected decrease in refinance activity, a lower mortgage loan sold percentage, and a decreased gain on sale rate.

Noninterest expense totaled $26.2 million during the third quarter of 2021, down $0.2 million from the third quarter of 2020. The lower level of expense primarily resulted from decreased compensation costs, mainly reflecting a reduced bonus accrual and lower stock-based compensation expense, which more than offset increased regular salary expense primarily stemming from annual employee merit pay increases. The bonus accrual during the third quarter of last year was increased due to a change in estimate as no accruals were recorded during the first and second quarters of the year due to COVID-19 and associated weakened economic environment. Health insurance costs increased in the third quarter of 2021 compared to the prior-year third quarter mainly due to a higher level of claims, some of which resulted from the treatment of COVID-19 related medical conditions. Federal Deposit Insurance Corporation deposit insurance premiums were up in the current-year third quarter compared to the respective 2020 period primarily as a result of an increased assessment base and rate.

Mr. Kaminski commented, “The growth in key fee income categories reflects our continuing efforts to augment our noninterest income revenue streams, which represented 33 percent of operating revenue in the third quarter. Our interest rate risk swap program continues to be well received by commercial loan customers, and the ongoing success in developing new commercial and industrial loan relationships provides us with opportunities to cross sell treasury management products and services, which serve as another contributor to fee income. Growth in residential mortgage loan purchase originations has largely offset the negative impact of an expected decline in refinance activity on mortgage banking income. We remain committed to growing in a cost-conscious manner and are continually reviewing overhead categories in an effort to improve efficiency where feasible.”

Balance Sheet

As of September 30, 2021, total assets were $4.96 billion, up $527 million, or 11.9 percent, from December 31, 2020. Total loans increased $120 million during the first nine months of 2021, primarily reflecting net increases in core commercial loans of $298 million, of which $162 million occurred in the third quarter, and residential mortgage loans of $73.7 million, which more than offset a net reduction in Paycheck Protection Program loans of $249 million. The growth in core commercial loans during the first nine months of 2021 equated to an annualized growth rate of approximately 16 percent. As of September 30, 2021, unfunded commitments on commercial construction and development loans totaled approximately $155 million, which are expected to be largely funded over the next 12 to 18 months.

Interest-earning deposits increased $178 million during the first nine months of 2021, mainly reflecting continuing local deposit growth, Paycheck Protection Program forgiveness activities and an increase in sweep accounts, which outpaced loan growth and an expanded securities portfolio.

Ray Reitsma, President of Mercantile Bank of Michigan, noted, “We are very pleased with the strong levels of core commercial loan and residential mortgage loan growth during the third quarter. The growth in the core commercial loan portfolio, which was achieved in a prudent manner with an unwavering emphasis on sound underwriting and risk-based pricing, reflects our commercial lending team’s continuing focus on meeting the needs of our existing customers and successful client acquisition efforts. A majority of the core commercial loan growth was in the commercial and industrial loan category, which typically generates additional local deposits and affords us the opportunity to cross sell treasury management products and services. We are also pleased with the sustained strength of our commercial loan and residential loan pipelines.”

Excluding the impact of Paycheck Protection Program loan originations, commercial and industrial loans and owner-occupied commercial real estate loans together represented approximately 55 percent of total commercial loans as of September 30, 2021, a level that has remained relatively consistent and in line with internal expectations.

Total deposits at September 30, 2021, were $3.87 billion, up $457 million, or 13.4 percent, from December 31, 2020. Local deposits were up $480 million during the first nine months of 2021, while brokered deposits were down $23.0 million. The growth in local deposits, which occurred despite typical and expected seasonal business deposit withdrawals used for bonus and tax payments, primarily reflected federal government stimulus payments, reduced business and consumer investing and spending, deposits generated from newly established commercial loan relationships, and Paycheck Protection Program loan proceeds being deposited into customers’ accounts at the time the loans were originated and remaining on deposit as of September 30, 2021. Wholesale funds were $418 million, or approximately 9 percent of total funds, as of September 30, 2021, compared to $441 million, or approximately 11 percent of total funds, as of December 31, 2020.

Asset Quality

Nonperforming assets totaled $2.9 million, $4.1 million, and $4.7 million at September 30, 2021, December 31, 2020, and September 30, 2020, respectively, with each dollar amount representing 0.1 percent of total assets as of the respective dates. During the third quarter of 2021, loan charge-offs totaled $0.8 million, while recoveries of prior period loan charge-offs equaled $0.4 million, providing for net loan charge-offs of $0.4 million, or an annualized 0.05 percent of average total loans. During the first nine months of 2021, loan charge-offs totaled $0.9 million, while recoveries of prior period loan charge-offs equaled $1.2 million, providing for net loan recoveries of $0.3 million, or an annualized 0.01 percent of average total loans.

Mr. Reitsma commented, “As evidenced by the continuing low levels of past due loans, gross loan charge-offs, and nonperforming assets, our asset quality metrics have remained strong during the COVID-19 pandemic. The sustained strength in asset quality depicts our ongoing focus on proper underwriting and our commercial borrowers’ business acumen and success in addressing pandemic-related challenges, including the rising costs and disruption posed by supply chain shortages and a tight labor market.”

Capital Position

Shareholders’ equity totaled $452 million as of September 30, 2021, an increase of $10.7 million from year-end 2020. Mercantile Bank of Michigan’s capital position remains above “well-capitalized” with a total risk-based capital ratio of 12.4 percent as of September 30, 2021, compared to 13.5 percent at December 31, 2020. At September 30, 2021, Mercantile Bank of Michigan had approximately $94 million in excess of the 10.0 percent minimum regulatory threshold required to be considered a “well-capitalized” institution. Mercantile reported 15,717,663 total shares outstanding at September 30, 2021.

As part of $20.0 million common stock repurchase programs announced in May of 2019 and 2021, respectively, Mercantile repurchased approximately 289,000 shares for $8.9 million, at a weighted average all-in cost per share of $30.97, during the third quarter of 2021 and approximately 636,000 shares for $19.8 million, at a weighted average all-in cost per share of $31.14, during the first nine months of 2021. The 2021 program replaced the 2019 program, which was nearing exhaustion. The actual timing, number and value of shares repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including Mercantile’s stock price, capital position, and financial performance, general market and economic conditions, alternative uses of capital, and applicable legal requirements. As of September 30, 2021, availability under the current program equaled $8.4 million. The program may be discontinued at any time.

Mr. Kaminski concluded, “We are pleased that our ongoing financial strength has allowed us to continue our regular quarterly cash dividend program and provide shareholders with meaningful cash returns on their investments. Our business model, which focuses on mutually beneficial relationship building, exceptional customer service, local decision making, and market-leading products and services, has proven effective in retaining existing clients and attracting new customers, and we believe we are well positioned to produce strong operating results in future periods and remain a consistent high performer that delivers steady and profitable growth.”

Investor Presentation

Mercantile has prepared presentation materials that management intends to use during its previously announced third quarter 2021 conference call on Tuesday, October 19, 2021, at 10:00 a.m. Eastern Time, and from time to time thereafter in presentations about the Company’s operations and performance. The Investor Presentation also contains information relating to Mercantile’s COVID-19 pandemic response plan, which may be modified to address new developments, as the company carefully monitors the recent surge in cases. These materials have been furnished to the U.S. Securities and Exchange Commission concurrently with this press release, and are also available on Mercantile’s website at www.mercbank.com.

About Mercantile Bank Corporation

Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank of Michigan.  Mercantile provides banking services to businesses, individuals and governmental units, and differentiates itself on the basis of service quality and the expertise of its banking staff. Mercantile has assets of approximately $4.9 billion and operates 43 banking offices. Mercantile Bank Corporation’s common stock is listed on the NASDAQ Global Select Market under the symbol “MBWM.”

Forward-Looking Statements

This news release contains statements or information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods. Any such statements are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in forward-looking statements. Factors that might cause such a difference include changes in interest rates and interest rate relationships; increasing rates of inflation and slower growth rates; significant declines in the value of commercial real estate; market volatility; demand for products and services; the degree of competition by traditional and nontraditional financial services companies; changes in banking regulation or actions by bank regulators; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; potential cyber-attacks, information security breaches and other criminal activities; our participation in the Paycheck Protection Program administered by the Small Business Administration; litigation liabilities; governmental and regulatory policy changes; the outcomes of existing or future contingencies; trends in customer behavior as well as their ability to repay loans; changes in local real estate values; damage to our reputation resulting from adverse publicity, regulatory actions, litigation, operational failures, and the failure to meet client expectations and other facts; changes in the method of determining Libor and the phase-out of Libor; changes in the national and local economies, including the ongoing disruption to financial market and other economic activity caused by the COVID-19 pandemic; and other factors, including those expressed as risk factors, disclosed from time to time in filings made by Mercantile with the Securities and Exchange Commission. Mercantile undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.

FOR FURTHER INFORMATION:

Robert B. Kaminski, Jr. President & CEO 616-726-1502 rkaminski@mercbank.com Charles Christmas Executive Vice President & CFO 616-726-1202 cchristmas@mercbank.com

Mercantile Bank Corporation

Third Quarter 2021 Results

MERCANTILE BANK CORPORATION

CONSOLIDATED BALANCE SHEETS

(Unaudited)

	SEPTEMBER 30,			DECEMBER 31,			SEPTEMBER 30,
	2021			2020			2020
ASSETS
Cash and due from banks	$	83,804,000		$	62,832,000		$	59,283,000
Interest-earning deposits		741,557,000			563,174,000			495,308,000
Total cash and cash equivalents		825,361,000			626,006,000			554,591,000
Securities available for sale		559,564,000			387,347,000			312,424,000
Federal Home Loan Bank stock		18,002,000			18,002,000			18,002,000
Loans		3,313,709,000			3,193,470,000			3,324,202,000
Allowance for loan losses		(37,423,000	)		(37,967,000	)		(35,572,000	)
Loans, net		3,276,286,000			3,155,503,000			3,288,630,000
Premises and equipment, net		57,465,000			58,959,000			60,446,000
Bank owned life insurance		72,963,000			72,131,000			71,170,000
Goodwill		49,473,000			49,473,000			49,473,000
Core deposit intangible, net		1,589,000			2,436,000			2,754,000
Mortgage loans held for sale		47,247,000			22,888,000			26,342,000
Other assets		56,462,000			44,599,000			36,778,000
Total assets	$	4,964,412,000		$	4,437,344,000		$	4,420,610,000
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing	$	1,647,380,000		$	1,433,403,000		$	1,449,879,000
Interest-bearing		2,221,611,000			1,978,150,000			1,922,155,000
Total deposits		3,868,991,000			3,411,553,000			3,372,034,000
Securities sold under agreements to repurchase		175,850,000			118,365,000			157,017,000
Federal Home Loan Bank advances		394,000,000			394,000,000			394,000,000
Subordinated debentures		48,074,000			47,563,000			47,392,000
Accrued interest and other liabilities		25,219,000			24,309,000			18,267,000
Total liabilities		4,512,134,000			3,995,790,000			3,988,710,000
SHAREHOLDERS' EQUITY
Common stock		285,033,000			302,029,000			301,896,000
Retained earnings		167,541,000			134,039,000			124,451,000
Accumulated other comprehensive income/(loss)		(296,000	)		5,486,000			5,553,000
Total shareholders' equity		452,278,000			441,554,000			431,900,000
Total liabilities and shareholders' equity	$	4,964,412,000		$	4,437,344,000		$	4,420,610,000

Mercantile Bank Corporation

Third Quarter 2021 Results

MERCANTILE BANK CORPORATION

CONSOLIDATED REPORTS OF INCOME

(Unaudited)

	THREE MONTHS ENDED		THREE MONTHS ENDED		NINE MONTHS ENDED			NINE MONTHS ENDED
	September 30, 2021		September 30, 2020		September 30, 2021			September 30, 2020
INTEREST INCOME
Loans, including fees	$	33,656,000	$	33,664,000	$	100,430,000		$	101,428,000
Investment securities		1,941,000		1,788,000		5,375,000			8,554,000
Other interest-earning assets		291,000		142,000		642,000			711,000
Total interest income		35,888,000		35,594,000		106,447,000			110,693,000
INTEREST EXPENSE
Deposits		2,184,000		3,466,000		7,247,000			11,808,000
Short-term borrowings		46,000		38,000		122,000			132,000
Federal Home Loan Bank advances		2,072,000		2,072,000		6,149,000			6,499,000
Other borrowed money		462,000		509,000		1,401,000			1,857,000
Total interest expense		4,764,000		6,085,000		14,919,000			20,296,000
Net interest income		31,124,000		29,509,000		91,528,000			90,397,000
Provision for loan losses		1,900,000		3,200,000		(900,000	)		11,550,000
Net interest income after provision for loan losses		29,224,000		26,309,000		92,428,000			78,847,000
NONINTEREST INCOME
Service charges on accounts		1,324,000		1,135,000		3,687,000			3,401,000
Mortgage banking income		6,554,000		9,479,000		23,049,000			19,746,000
Credit and debit card income		1,947,000		1,636,000		5,545,000			4,371,000
Interest rate swap income		3,938,000		0		6,086,000			0
Payroll services		412,000		399,000		1,374,000			1,346,000
Earnings on bank owned life insurance		298,000		290,000		872,000			933,000
Gain on sale of branch		0		0		1,058,000			0
Other income		1,095,000		368,000		1,916,000			1,042,000
Total noninterest income		15,568,000		13,307,000		43,587,000			30,839,000
NONINTEREST EXPENSE
Salaries and benefits		15,975,000		16,734,000		47,255,000			44,388,000
Occupancy		2,030,000		2,023,000		6,021,000			5,944,000
Furniture and equipment		929,000		871,000		2,719,000			2,500,000
Data processing costs		2,746,000		2,676,000		8,138,000			7,793,000
Other expense		4,530,000		4,119,000		13,386,000			11,954,000
Total noninterest expense		26,210,000		26,423,000		77,519,000			72,579,000
Income before federal income tax expense		18,582,000		13,193,000		58,496,000			37,107,000
Federal income tax expense		3,531,000		2,507,000		11,114,000			7,051,000
Net Income	$	15,051,000	$	10,686,000	$	47,382,000		$	30,056,000
Basic earnings per share	$	0.95	$	0.66	$	2.95		$	1.85
Diluted earnings per share	$	0.95	$	0.66	$	2.95		$	1.85
Average basic shares outstanding		15,859,955		16,233,196		16,084,806			16,265,208
Average diluted shares outstanding		15,860,314		16,233,666		16,085,274			16,265,986

Mercantile Bank Corporation

Third Quarter 2021 Results

MERCANTILE BANK CORPORATION

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Unaudited)

	Quarterly															Year-To-Date
(dollars in thousands except per share data)	2021			2021			2021			2020			2020
	3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2021			2020
EARNINGS
Net interest income	$	31,124			30,871			29,533			31,849			29,509			91,528			90,397
Provision for loan losses	$	1,900			(3,100	)		300			2,500			3,200			(900	)		11,550
Noninterest income	$	15,568			14,556			13,463			14,333			13,307			43,587			30,839
Noninterest expense	$	26,210			26,192			25,117			25,941			26,423			77,519			72,579
Net income before federal income tax expense	$	18,582			22,335			17,579			17,741			13,193			58,496			37,107
Net income	$	15,051			18,091			14,239			14,082			10,686			47,382			30,056
Basic earnings per share	$	0.95			1.12			0.87			0.87			0.66			2.95			1.85
Diluted earnings per share	$	0.95			1.12			0.87			0.87			0.66			2.95			1.85
Average basic shares outstanding		15,859,955			16,116,070			16,283,044			16,279,052			16,233,196			16,084,806			16,265,208
Average diluted shares outstanding		15,860,314			16,116,666			16,283,490			16,279,243			16,233,666			16,085,274			16,265,986
PERFORMANCE RATIOS
Return on average assets		1.23	%		1.53	%		1.26	%		1.25	%		0.98	%		1.34	%		0.99	%
Return on average equity		13.10	%		16.27	%		13.02	%		12.75	%		9.86	%		14.12	%		9.44	%
Net interest margin (fully tax-equivalent)		2.71	%		2.76	%		2.77	%		3.00	%		2.86	%		2.76	%		3.19	%
Efficiency ratio		56.13	%		57.66	%		58.42	%		56.17	%		61.71	%		57.37	%		59.87	%
Full-time equivalent employees		629			634			621			621			618			629			618
YIELD ON ASSETS / COST OF FUNDS
Yield on loans		4.07	%		3.99	%		4.03	%		4.34	%		4.03	%		4.06	%		4.28	%
Yield on securities		1.46	%		1.54	%		1.61	%		1.69	%		2.26	%		1.53	%		3.47	%
Yield on other interest-earning assets		0.16	%		0.12	%		0.11	%		0.12	%		0.12	%		0.13	%		0.32	%
Yield on total earning assets		3.13	%		3.20	%		3.26	%		3.55	%		3.45	%		3.21	%		3.91	%
Yield on total assets		2.94	%		3.02	%		3.09	%		3.35	%		3.25	%		3.01	%		3.67	%
Cost of deposits		0.23	%		0.25	%		0.31	%		0.37	%		0.41	%		0.26	%		0.52	%
Cost of borrowed funds		1.67	%		1.73	%		1.78	%		1.75	%		1.78	%		1.72	%		1.98	%
Cost of interest-bearing liabilities		0.69	%		0.74	%		0.82	%		0.91	%		0.99	%		0.75	%		1.15	%
Cost of funds (total earning assets)		0.42	%		0.44	%		0.49	%		0.55	%		0.59	%		0.45	%		0.72	%
Cost of funds (total assets)		0.39	%		0.41	%		0.47	%		0.51	%		0.56	%		0.42	%		0.67	%
PURCHASE ACCOUNTING ADJUSTMENTS
Loan portfolio - increase interest income	$	48			54			51			158			332			153			786
Trust preferred - increase interest expense	$	171			171			171			171			171			513			513
Core deposit intangible - increase overhead	$	238			291			318			318			318			847			1,086
MORTGAGE BANKING ACTIVITY
Total mortgage loans originated	$	259,512			237,299			245,200			218,904			237,195			742,011			645,540
Purchase mortgage loans originated	$	143,635			144,476			81,529			99,490			93,068			369,640			197,621
Refinance mortgage loans originated	$	115,877			92,823			163,671			119,414			144,127			372,371			447,919
Total saleable mortgage loans	$	177,837			140,497			195,655			159,942			191,318			513,989			512,310
Income on sale of mortgage loans	$	6,659			7,690			9,182			9,476			10,199			23,531			20,045
CAPITAL
Tangible equity to tangible assets		8.17	%		8.51	%		8.36	%		8.89	%		8.69	%		8.17	%		8.69	%
Tier 1 leverage capital ratio		9.33	%		9.47	%		9.67	%		9.77	%		9.80	%		9.33	%		9.80	%
Common equity risk-based capital ratio		10.34	%		10.87	%		11.11	%		11.34	%		11.37	%		10.34	%		11.37	%
Tier 1 risk-based capital ratio		11.53	%		12.11	%		12.41	%		12.68	%		12.74	%		11.53	%		12.74	%
Total risk-based capital ratio		12.47	%		13.09	%		13.51	%		13.80	%		13.82	%		12.47	%		13.82	%
Tier 1 capital	$	448,010			445,410			437,567			430,146			420,225			448,010			420,225
Tier 1 plus tier 2 capital	$	484,594			481,324			476,462			468,113			455,797			484,594			455,797
Total risk-weighted assets	$	3,884,999			3,677,180			3,526,161			3,391,563			3,298,047			3,884,999			3,298,047
Book value per common share	$	28.78			28.23			27.21			27.04			26.59			28.78			26.59
Tangible book value per common share	$	25.53			25.03			24.02			23.86			23.37			25.53			23.37
Cash dividend per common share	$	0.30			0.29			0.29			0.28			0.28			0.88			0.84
ASSET QUALITY
Gross loan charge-offs	$	744			68			53			340			124			865			499
Recoveries	$	354			386			481			234			250			1,221			632
Net loan charge-offs (recoveries)	$	390			(318	)		(428	)		106			(126	)		(356	)		(133	)
Net loan charge-offs to average loans		0.05	%		(0.04%	)		(0.05%	)		0.01	%		(0.02%	)		(0.01%	)		(0.01%	)
Allowance for loan losses	$	37,423			35,913			38,695			37,967			35,572			37,423			35,572

Allowance to loans		1.13	%	1.11	%	1.15	%	1.19	%	1.06	%	1.13	%	1.06	%
Allowance to loans excluding PPP loans		1.17	%	1.20	%	1.33	%	1.33	%	1.27	%	1.17	%	1.27	%
Nonperforming loans	$	2,766		2,746		2,793		3,384		4,141		2,766		4,141
Other real estate/repossessed assets	$	111		404		374		701		512		111		512
Nonperforming loans to total loans		0.08	%	0.08	%	0.08	%	0.11	%	0.12	%	0.08	%	0.12	%
Nonperforming assets to total assets		0.06	%	0.07	%	0.07	%	0.09	%	0.11	%	0.06	%	0.11	%
NONPERFORMING ASSETS - COMPOSITION
Residential real estate:
Land development	$	33		34		34		35		36		33		36
Construction	$	0		0		0		0		198		0		198
Owner occupied / rental	$	2,063		2,137		2,305		2,607		2,597		2,063		2,597
Commercial real estate:
Land development	$	0		0		0		0		0		0		0
Construction	$	0		0		0		0		0		0		0
Owner occupied	$	100		363		646		1,232		1,576		100		1,576
Non-owner occupied	$	0		0		0		22		23		0		23
Non-real estate:
Commercial assets	$	673		606		169		172		198		673		198
Consumer assets	$	8		10		13		17		25		8		25
Total nonperforming assets		2,877		3,150		3,167		4,085		4,653		2,877		4,653
NONPERFORMING ASSETS - RECON
Beginning balance	$	3,150		3,167		4,085		4,653		3,410		4,085		2,736
Additions	$	361		522		116		972		1,615		999		3,148
Return to performing status	$	(50	)	0		(115	)	0		(72	)	(165	)	(105	)
Principal payments	$	(291	)	(484	)	(559	)	(1,064	)	(249	)	(1,334	)	(637	)
Sale proceeds	$	(209	)	0		(77	)	(245	)	0		(286	)	(241	)
Loan charge-offs	$	0		(55	)	(33	)	(231	)	(51	)	(88	)	(224	)
Valuation write-downs	$	(84	)	0		(250	)	0		0		(334	)	(24	)
Ending balance	$	2,877		3,150		3,167		4,085		4,653		2,877		4,653
LOAN PORTFOLIO COMPOSITION
Commercial:
Commercial & industrial	$	1,074,394		1,103,807		1,284,507		1,145,423		1,321,419		1,074,394		1,321,419
Land development & construction	$	38,380		43,111		58,738		55,055		50,941		38,380		50,941
Owner occupied comm'l R/E	$	551,762		550,504		544,342		529,953		549,364		551,762		549,364
Non-owner occupied comm'l R/E	$	998,697		950,993		932,334		917,436		878,897		998,697		878,897
Multi-family & residential rental	$	179,126		161,894		147,294		146,095		137,740		179,126		137,740
Total commercial	$	2,842,359		2,810,309		2,967,215		2,793,962		2,938,361		2,842,359		2,938,361
Retail:
1-4 family mortgages	$	411,618		380,292		337,844		337,888		322,118		411,618		322,118
Home equity & other consumer	$	59,732		58,240		59,311		61,620		63,723		59,732		63,723
Total retail	$	471,350		438,532		397,155		399,508		385,841		471,350		385,841
Total loans	$	3,313,709		3,248,841		3,364,370		3,193,470		3,324,202		3,313,709		3,324,202
END OF PERIOD BALANCES
Loans	$	3,313,709		3,248,841		3,364,370		3,193,470		3,324,202		3,313,709		3,324,202
Securities	$	577,566		524,127		452,259		405,349		330,426		577,566		330,426
Other interest-earning assets	$	741,557		683,638		596,855		563,174		495,308		741,557		495,308
Total earning assets (before allowance)	$	4,632,832		4,456,606		4,413,484		4,161,993		4,149,936		4,632,832		4,149,936
Total assets	$	4,964,412		4,757,414		4,713,023		4,437,344		4,420,610		4,964,412		4,420,610
Noninterest-bearing deposits	$	1,647,380		1,620,829		1,605,471		1,433,403		1,449,879		1,647,380		1,449,879
Interest-bearing deposits	$	2,221,611		2,050,442		2,039,491		1,978,150		1,922,155		2,221,611		1,922,155
Total deposits	$	3,868,991		3,671,271		3,644,962		3,411,553		3,372,034		3,868,991		3,372,034
Total borrowed funds	$	619,441		613,205		584,672		562,360		600,892		619,441		600,892
Total interest-bearing liabilities	$	2,841,052		2,663,647		2,624,163		2,540,510		2,523,047		2,841,052		2,523,047
Shareholders' equity	$	452,278		451,888		441,243		441,554		431,900		452,278		431,900
AVERAGE BALANCES
Loans	$	3,276,863		3,365,686		3,318,281		3,268,866		3,292,025		3,308,119		3,132,885
Securities	$	547,336		483,805		419,514		365,631		327,668		484,020		335,443
Other interest-earning assets	$	733,801		619,358		591,617		559,593		457,598		648,780		288,310
Total earning assets (before allowance)	$	4,558,000		4,468,849		4,329,412		4,194,090		4,077,291		4,440,919		3,756,638
Total assets	$	4,856,611		4,752,858		4,578,887		4,459,370		4,346,624		4,730,482		4,024,175
Noninterest-bearing deposits	$	1,641,158		1,619,976		1,510,334		1,478,616		1,454,887		1,590,969		1,228,729
Interest-bearing deposits	$	2,125,920		2,074,759		2,026,896		1,936,069		1,863,302		2,076,221		1,785,391
Total deposits	$	3,767,078		3,694,735		3,537,230		3,414,685		3,318,189		3,667,190		3,014,120
Total borrowed funds	$	614,061		594,199		576,645		588,100		583,994		595,105		569,729
Total interest-bearing liabilities	$	2,739,981		2,668,958		2,603,541		2,524,169		2,447,296		2,671,326		2,355,120
Shareholders' equity	$	455,902		445,930		443,548		438,171		429,865		448,516		423,924