XML 18 R48.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2012
Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements [Abstract] |
Summary of condensed Balance Sheets |
|  | 2012 |  |  | 2011 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 473,000 |  |  | $ | 542,000 |
Investment in bank subsidiary |  |  | 173,019,000 |  |  |  | 192,703,000 |
Other assets |  |  | 7,433,000 |  |  |  | 5,151,000 |
Total assets |  | $ | 180,925,000 |  |  | $ | 198,396,000 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Liabilities |  | $ | 1,345,000 |  |  | $ | 407,000 |
Subordinated debentures |  |  | 32,990,000 |  |  |  | 32,990,000 |
Shareholders’ equity |  |  | 146,590,000 |  |  |  | 164,999,000 |
Total liabilities and shareholders’ equity |  | $ | 180,925,000 |  |  | $ | 198,396,000 |
Summary of condensed Statements of Income |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividends from subsidiaries |  | $ | 32,532,000 |  |  | $ | 4,974,000 |  |  | $ | 1,104,000 |
Total income |  |  | 32,532,000 |  |  |  | 4,974,000 |  |  |  | 1,104,000 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 884,000 |  |  |  | 847,000 |  |  |  | 848,000 |
Other operating expenses |  |  | 1,048,000 |  |  |  | 1,059,000 |  |  |  | 1,551,000 |
Total expenses |  |  | 1,932,000 |  |  |  | 1,906,000 |  |  |  | 2,399,000 |
Income (loss) before income tax expense (benefit) and equity in undistributed net income (loss) of subsidiary |  |  | 30,600,000 |  |  |  | 3,068,000 |  |  |  | (1,295,000 | )
Federal income tax expense (benefit) |  |  | (665,000 | ) |  |  | (2,272,000 | ) |  |  | (47,000 | )
Equity in undistributed net income (loss) of subsidiary |  |  | (18,730,000 | ) |  |  | 32,145,000 |  |  |  | (12,068,000 | )
Net income (loss) |  |  | 12,535,000 |  |  |  | 37,485,000 |  |  |  | (13,316,000 | )
Preferred stock dividends and accretion |  |  | 1,030,000 |  |  |  | 1,343,000 |  |  |  | 1,295,000 |
Net income (loss) attributable to common shares |  | $ | 11,505,000 |  |  | $ | 36,142,000 |  |  | $ | (14,611,000 | )
Summary of condensed statements of Cash Flows |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 12,535,000 |  |  | $ | 37,485,000 |  |  | $ | (13,316,000 | )
Adjustments to reconcile net income (loss) to net cash from (for) operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed (income) loss of subsidiary |  |  | 18,730,000 |  |  |  | (32,145,000 | ) |  |  | 12,068,000 |
Stock-based compensation expense |  |  | 54,000 |  |  |  | 61,000 |  |  |  | 275,000 |
Change in other assets |  |  | (3,006,000 | ) |  |  | (3,619,000 | ) |  |  | (124,000 | )
Change in other liabilities |  |  | 1,073,000 |  |  |  | (956,000 | ) |  |  | 963,000 |
Net cash from (for) operating activities |  |  | 29,386,000 |  |  |  | 826,000 |  |  |  | (134,000 | )
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 |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of preferred stock |  |  | (21,000,000 | ) |  |  | 0 |  |  |  | 0 |
Repurchase of common stock warrant |  |  | (7,465,000 | ) |  |  | 0 |  |  |  | 0 |
Stock option exercises, net of cashless exercises |  |  | 227,000 |  |  |  | 55,000 |  |  |  | 0 |
Employee stock purchase plan |  |  | 39,000 |  |  |  | 42,000 |  |  |  | 47,000 |
Dividend reinvestment plan |  |  | 14,000 |  |  |  | 6,000 |  |  |  | 2,000 |
Cash dividends on preferred stock |  |  | (496,000 | ) |  |  | (1,620,000 | ) |  |  | (525,000 | )
Cash dividends on common stock |  |  | (774,000 | ) |  |  | 0 |  |  |  | (85,000 | )
Net cash from (for) financing activities |  |  | (29,455,000 | ) |  |  | (1,517,000 | ) |  |  | (561,000 | )
Net change in cash and cash equivalents |  |  | (69,000 | ) |  |  | (691,000 | ) |  |  | (695,000 | )
Cash and cash equivalents at beginning of period |  |  | 542,000 |  |  |  | 1,233,000 |  |  |  | 1,928,000 |
Cash and cash equivalents at end of period |  | $ | 473,000 |  |  | $ | 542,000 |  |  | $ | 1,233,000 |

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a condensed balance sheet. Disclosure may include, but is not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a condensed cash flow statement. Disclosure may include, but is not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a condensed income statement. Disclosure may include, but is not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration