<SEC-DOCUMENT>0001437749-17-011875.txt : 20170628
<SEC-HEADER>0001437749-17-011875.hdr.sgml : 20170628
<ACCEPTANCE-DATETIME>20170628073818
ACCESSION NUMBER:		0001437749-17-011875
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161231
FILED AS OF DATE:		20170628
DATE AS OF CHANGE:		20170628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MERCANTILE BANK CORP
		CENTRAL INDEX KEY:			0001042729
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				383360865
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26719
		FILM NUMBER:		17933729

	BUSINESS ADDRESS:	
		STREET 1:		310 LEONARD STREET NW
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49504
		BUSINESS PHONE:		616 406-3000

	MAIL ADDRESS:	
		STREET 1:		310 LEONARD STREET NW
		CITY:			GRAND RAPIDS
		STATE:			MI
		ZIP:			49504
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>mbwm20170626_11k.htm
<DESCRIPTION>FORM 11-K
<TEXT>
<HTML><HEAD><TITLE>mbwm20170626_11k.htm</TITLE>
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<BODY style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 10px; MARGIN-RIGHT: 10px"><A id=TOCLINK789  href="#TOC">Table of Contents</A>
<P id=PARA2 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA1 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>UNITED STATES</B></FONT></P>
<P id=PARA3 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>
<P id=PARA4 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>WASHINGTON, D.C. 20549</B></FONT></P>
<P id=PARA6 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA5 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, Times, serif"><B>FORM 11-K</B></FONT></P>
<P id=PARA8 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
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<P id=PARA9 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: middle">
<P id=PARA10 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 92%; VERTICAL-ALIGN: middle">
<P id=PARA11 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="MARGIN-BOTTOM: 0px; WIDTH: 4%; VERTICAL-ALIGN: top; MARGIN-TOP: 0px">
<P id=PARA12 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9745;</FONT></P></TD>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA13 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 92%; VERTICAL-ALIGN: top">
<P id=PARA14 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P></TD></TR></TABLE>
<P id=PARA17 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA16 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 13.2pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 49.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>For the fiscal year ended December&nbsp;31, 20</B><B>16</B></FONT></P>
<P id=PARA19 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA18 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>OR</B></FONT></P>
<TABLE id=TBL26  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: middle">
<P id=PARA20 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: middle">
<P id=PARA21 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 92%; VERTICAL-ALIGN: middle">
<P id=PARA22 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="MARGIN-BOTTOM: 0px; WIDTH: 4%; VERTICAL-ALIGN: top; MARGIN-TOP: 0px">
<P id=PARA23 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&#9744;</FONT></P></TD>
<TD style="WIDTH: 4%; VERTICAL-ALIGN: top">
<P id=PARA24 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 92%; VERTICAL-ALIGN: top">
<P id=PARA25 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</B></FONT></P></TD></TR></TABLE>
<P id=PARA28 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA27 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 13.2pt; LINE-HEIGHT: 1.25; TEXT-INDENT: 49.8pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>For the transition period from to </B></FONT></P>
<P id=PARA30 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA29 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Commission File No.&nbsp;000-26719</B></FONT></P>
<P id=PARA32 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA31 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan </B></FONT></P>
<P id=PARA34 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA33 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, Times, serif"><B>401(k) Plan</B></FONT></P>
<P id=PARA36 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA35 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif">Mercantile Bank Corporation</FONT></P>
<P id=PARA37 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">310 Leonard Street, NW</FONT></P>
<P id=PARA38 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grand Rapids, Michigan 49504</FONT></P>
<P id=PARA39 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(616)&nbsp;406-3000</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<HR style="MARGIN-BOTTOM: 2px; BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; BACKGROUND-COLOR: #000000">

<HR style="MARGIN-BOTTOM: 0px; BORDER-TOP: medium none; HEIGHT: 3px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; POSITION: relative; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; TOP: 0px; BACKGROUND-COLOR: #000000">

<DIV id=PGBK686  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR686  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM686  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK686  href="#TOC">Table of Contents</A>
<DIV id=PGHDR686  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA686.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase"><B></B></FONT></P>
<HR style="MARGIN-BOTTOM: 2px; BORDER-TOP: medium none; HEIGHT: 3px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; BACKGROUND-COLOR: #000000">

<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; POSITION: relative; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; TOP: 0px; BACKGROUND-COLOR: #000000">

<P id=PARA44 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase"><B></B></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase"><B>REQUIRED INFORMATION</B></FONT></P>
<P id=PARA45 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase"><B>&nbsp;</B></FONT></P>
<P id=PARA46 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase"><B>&nbsp;</B></FONT></P>
<P id=PARA47 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase">The Mercantile Bank of Michigan 401(k) Plan is subject to the Employee Retirement Income Security Act of 1974 (ERISA). In lieu of the requirements of Items 1, 2 and 3 of Form 11-K for annual reports, the financial statements and schedules of the Plan for the two years ended December 31, 2016 and 2015, which have been prepared in accordance with the financial reporting requirements of ERISA, are included in this report.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P id=PARA48 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; TEXT-TRANSFORM: uppercase">&nbsp;</FONT></P>
<HR style="MARGIN-BOTTOM: 2px; BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; BACKGROUND-COLOR: #000000">

<HR style="MARGIN-BOTTOM: 0px; BORDER-TOP: medium none; HEIGHT: 3px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; POSITION: relative; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; TOP: 0px; BACKGROUND-COLOR: #000000">

<DIV id=PGBK687  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR687  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM687  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK687  href="#TOC">Table of Contents</A>
<DIV id=PGHDR687  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA687.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<HR style="MARGIN-BOTTOM: 2px; BORDER-TOP: medium none; HEIGHT: 3px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; BACKGROUND-COLOR: #000000">

<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; POSITION: relative; COLOR: #000000; BORDER-LEFT: medium none; MARGIN-TOP: 0px; TOP: 0px; BACKGROUND-COLOR: #000000">

<P id=PARA69 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B></B></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B></B></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan</B></FONT></P>
<P id=PARA70 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>401(</B><B>k</B><B>) Plan</B></FONT></P>
<P id=PARA71 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA72 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif">Financial Statements</FONT></P>
<P id=PARA73 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif">And Supplemental Schedule</FONT></P>
<P id=PARA74 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Years Ended December 31, 2016 and 2015</FONT></P>
<P id=PARA75 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<DIV id=PGBK688  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR688  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM688  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK688  href="#TOC">Table of Contents</A>
<DIV id=PGHDR688  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P id=PARA728 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA729 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA730 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=TOC  name="TOC"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Contents</B></FONT></A></P>
<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000;  BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" align="center">

<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<TABLE id=TBL712  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA689 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK769  href="#BKMK780"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Report of Independent Registered Public Accounting Firm</B></FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA690 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA713 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA714 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA691 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK770  href="#BKMK781"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Financial Statements</B></FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA715 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA716 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA693 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK771  href="#BKMK782"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Statements of Net Assets Available for Benefits as of&nbsp;December&nbsp;31, 2016 and 2015</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA694 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA717 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA696 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK772  href="#BKMK783"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Statements of Changes in Net Assets Available for Benefits for the&nbsp;Years Ended December&nbsp;31, 2016 and 2015</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA697 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">5</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA718 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA698 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK773  href="#BKMK784"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Notes to Financial Statements</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA699 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">6-10</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA719 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA720 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA700 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK774  href="#BKMK785"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Supplemental Schedule</B></FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA721 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA722 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA702 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK775  href="#BKMK786"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Schedule H, Line 4i &#8211; Schedule of Assets (Held at End of Year) as of&nbsp;&nbsp;December&nbsp;31, 2016</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA703 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">11</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA723 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA704 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK776  href="#BKMK787"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit List</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA705 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">12</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA724 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA706 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK777  href="#BKMK788"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Signatures</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA707 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">13</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA725 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA708 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=LINK778  href="#BKMK790"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit Index</FONT></A></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA709 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">14</FONT></P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA726 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp; </P></TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 90%; VERTICAL-ALIGN: top; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA710 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Independent Registered Public Accounting Firm</FONT></P></TD>
<TD style="WIDTH: 10%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA711 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P></TD></TR></TABLE>
<P id=PARA727.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK727  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR727  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM727  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">2</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK727  href="#TOC">Table of Contents</A>
<DIV id=PGHDR727  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA112 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA113 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK780  name="BKMK780"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Report of Independent Registered Public Accounting Firm</B></FONT></A></P>
<P id=PARA114 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA115 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">To the Plan Administrator</FONT></P>
<P id=PARA116 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mercantile Bank of Michigan 401(k) Plan</FONT></P>
<P id=PARA117 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grand Rapids, Michigan</FONT></P>
<P id=PARA118 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA119 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We have audited the accompanying statements of net assets available for benefits of the Mercantile Bank of Michigan 401(k) Plan (the &#8220;Plan&#8221;) as of December 31, 2016 and 2015, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan&#8217;s management. Our responsibility is to express an opinion on these financial statements based on our audits.</FONT></P>
<P id=PARA120 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA121 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. </FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan&#8217;s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.</FONT></P>
<P id=PARA122 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA123 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2016 and 2015, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.</FONT></P>
<P id=PARA124 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA125 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying supplemental Schedule of Assets (Held at End of Year) as of December 31, 2016 has been subjected to audit procedures performed in conjunction with the audit of the Plan&#8217;s financial statements. The supplemental schedule is the responsibility of the Plan&#8217;s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.</FONT></P>
<P id=PARA126 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA127 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">/s/ BDO USA, LLP</FONT></P>
<P id=PARA128 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA129 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grand Rapids, Michigan</FONT></P>
<P id=PARA130 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">June 28, 2017</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P id=PARA732 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, Times, serif">BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.</FONT></P>
<P id=PARA733 style="MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA734 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, Times, serif">BDO is the brand name for the BDO network and for each of the BDO Member Firms.</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK731  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR731  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM731  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">3</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK731  href="#TOC">Table of Contents</A>
<DIV id=PGHDR731  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA731.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA736 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK781  name="BKMK781"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile </B></FONT></A><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Bank of Michigan 401 (k) Plan</B></FONT></P>
<P id=PARA737 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA738 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK782  name="BKMK782"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Statements </B></FONT></A><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>of Net Assets Available for Benefits </B></FONT></P>
<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000;  BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" align="center">

<P id=PARA131 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P id=PARA132 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL163  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR id=TBL163.finRow.1>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA133 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>December 31, </I></FONT></P></TD>
<TD id=TBL163.finRow.1.lead.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.1.amt.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA134 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>2016</B></FONT></P></TD>
<TD id=TBL163.finRow.1.trail.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.1.lead.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL163.finRow.1.amt.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA135 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2015</FONT></P></TD>
<TD id=TBL163.finRow.1.trail.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD></TR>
<TR id=TBL163.finRow.2>
<TD>&nbsp;</TD>
<TD id=TBL163.finRow.2.lead.B2>&nbsp;</TD>
<TD id=TBL163.finRow.2.symb.B2>&nbsp;</TD>
<TD id=TBL163.finRow.2.amt.B2>&nbsp;</TD>
<TD id=TBL163.finRow.2.trail.B2>&nbsp;</TD>
<TD id=TBL163.finRow.2.lead.B3>&nbsp;</TD>
<TD id=TBL163.finRow.2.symb.B3>&nbsp;</TD>
<TD id=TBL163.finRow.2.amt.B3>&nbsp;</TD>
<TD id=TBL163.finRow.2.trail.B3>&nbsp;</TD></TR>
<TR id=TBL163.finRow.3>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">
<P id=PARA136 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Assets</B></FONT></P></TD>
<TD id=TBL163.finRow.3.lead.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.symb.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.amt.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.trail.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.3.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom"><B>&nbsp;</B></TD></TR>
<TR id=TBL163.finRow.4>
<TD>&nbsp;</TD>
<TD id=TBL163.finRow.4.lead.B2>&nbsp;</TD>
<TD id=TBL163.finRow.4.symb.B2>&nbsp;</TD>
<TD id=TBL163.finRow.4.amt.B2>&nbsp;</TD>
<TD id=TBL163.finRow.4.trail.B2>&nbsp;</TD>
<TD id=TBL163.finRow.4.lead.B3>&nbsp;</TD>
<TD id=TBL163.finRow.4.symb.B3>&nbsp;</TD>
<TD id=TBL163.finRow.4.amt.B3>&nbsp;</TD>
<TD id=TBL163.finRow.4.trail.B3>&nbsp;</TD></TR>
<TR id=TBL163.finRow.5 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA137 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Investments, at fair value</FONT></P></TD>
<TD id=TBL163.finRow.5.lead.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.symb.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.amt.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.trail.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.5.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL163.finRow.6 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA138 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mutual funds</FONT></P></TD>
<TD id=TBL163.finRow.6.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.6.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>$</B></TD>
<TD id=TBL163.finRow.6.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>39,094,270</B></TD>
<TD id=TBL163.finRow.6.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.6.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.6.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">$</TD>
<TD id=TBL163.finRow.6.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">37,222,474</TD>
<TD id=TBL163.finRow.6.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL163.finRow.7 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff">
<P id=PARA143 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mercantile Bank Corporation common stock</FONT></P></TD>
<TD id=TBL163.finRow.7.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.7.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.7.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>18,656,297</B></TD>
<TD id=TBL163.finRow.7.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.7.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.7.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.7.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">13,863,750</TD>
<TD id=TBL163.finRow.7.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL163.finRow.8 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA146 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Money market fund</FONT></P></TD>
<TD id=TBL163.finRow.8.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.8.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.8.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>1,739,766</B></TD>
<TD id=TBL163.finRow.8.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.8.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.8.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.8.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">2,267,555</TD>
<TD id=TBL163.finRow.8.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL163.finRow.9 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.9.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL163.finRow.10 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA149 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total investments</FONT></P></TD>
<TD id=TBL163.finRow.10.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.10.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.10.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>59,490,333</B></TD>
<TD id=TBL163.finRow.10.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.10.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.10.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.10.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">53,353,779</TD>
<TD id=TBL163.finRow.10.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL163.finRow.11 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.11.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL163.finRow.12 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA152 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Notes receivable from participants</FONT></P></TD>
<TD id=TBL163.finRow.12.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.12.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.12.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>583,315</B></TD>
<TD id=TBL163.finRow.12.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.12.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.12.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.12.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">687,038</TD>
<TD id=TBL163.finRow.12.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL163.finRow.13 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<P id=PARA155 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accrued income</FONT></P></TD>
<TD id=TBL163.finRow.13.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.13.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.13.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>7,716</B></TD>
<TD id=TBL163.finRow.13.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.13.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.13.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.13.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">7,281</TD>
<TD id=TBL163.finRow.13.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL163.finRow.14 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL163.finRow.14.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL163.finRow.15 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">
<P id=PARA158 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Net Assets Available for Benefits</B></FONT></P></TD>
<TD id=TBL163.finRow.15.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.15.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>$</B></TD>
<TD id=TBL163.finRow.15.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>60,081,364</B></TD>
<TD id=TBL163.finRow.15.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL163.finRow.15.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL163.finRow.15.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL163.finRow.15.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">54,048,098</TD>
<TD id=TBL163.finRow.15.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR></TABLE>
<P id=PARA164 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA165 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>See accompanying notes to financial statements.</I></FONT></P>
<P id=PARA166 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>&nbsp;</I></FONT></P>
<DIV id=PGBK735  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR735  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM735  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">4</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK735  href="#TOC">Table of Contents</A>
<DIV id=PGHDR735  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P id=PARA740 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA741 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA742 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK783  name="BKMK783"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Statements </B></FONT></A><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>of Changes in Net Assets Available for Benefits </B></FONT></P>
<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000;  BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" align="center">

<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<TABLE id=TBL224  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR id=TBL224.finRow.1>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 70%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA167 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>Year ended December 31, </I></FONT></P></TD>
<TD id=TBL224.finRow.1.lead.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.1.amt.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA168 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>2016</B></FONT></P></TD>
<TD id=TBL224.finRow.1.trail.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.1.lead.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL224.finRow.1.amt.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA169 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2015</FONT></P></TD>
<TD id=TBL224.finRow.1.trail.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD></TR>
<TR id=TBL224.finRow.2>
<TD>&nbsp;</TD>
<TD id=TBL224.finRow.2.lead.B2>&nbsp;</TD>
<TD id=TBL224.finRow.2.symb.B2>&nbsp;</TD>
<TD id=TBL224.finRow.2.amt.B2>&nbsp;</TD>
<TD id=TBL224.finRow.2.trail.B2>&nbsp;</TD>
<TD id=TBL224.finRow.2.lead.B3>&nbsp;</TD>
<TD id=TBL224.finRow.2.symb.B3>&nbsp;</TD>
<TD id=TBL224.finRow.2.amt.B3>&nbsp;</TD>
<TD id=TBL224.finRow.2.trail.B3>&nbsp;</TD></TR>
<TR id=TBL224.finRow.3 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA170 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Additions</B></FONT></P></TD>
<TD id=TBL224.finRow.3.lead.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.symb.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.amt.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.trail.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.3.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD></TR>
<TR id=TBL224.finRow.4 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.4.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.5 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA171 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Investment income</FONT></P></TD>
<TD id=TBL224.finRow.5.lead.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.symb.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.amt.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.trail.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.5.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.6 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA172 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net appreciation in fair value of investments</FONT></P></TD>
<TD id=TBL224.finRow.6.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.6.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>$</B></TD>
<TD id=TBL224.finRow.6.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>8,761,505</B></TD>
<TD id=TBL224.finRow.6.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.6.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.6.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.6.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">127,075</TD>
<TD id=TBL224.finRow.6.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.7 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff">
<P id=PARA176 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Interest and dividends </FONT></P></TD>
<TD id=TBL224.finRow.7.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.7.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.7.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>1,515,302</B></TD>
<TD id=TBL224.finRow.7.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.7.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.7.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.7.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">2,283,790</TD>
<TD id=TBL224.finRow.7.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.8 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.8.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.9 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<P id=PARA179 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total investment income</FONT></P></TD>
<TD id=TBL224.finRow.9.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.9.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.9.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>10,276,807</B></TD>
<TD id=TBL224.finRow.9.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.9.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.9.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.9.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">2,410,865</TD>
<TD id=TBL224.finRow.9.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.10 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.10.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.11 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA182 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Contributions</FONT></P></TD>
<TD id=TBL224.finRow.11.lead.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.symb.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.amt.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.trail.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.11.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.12 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA183 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Employer</FONT></P></TD>
<TD id=TBL224.finRow.12.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.12.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.12.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>1,194,345</B></TD>
<TD id=TBL224.finRow.12.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.12.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.12.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.12.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">1,203,061</TD>
<TD id=TBL224.finRow.12.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.13 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #cceeff">
<P id=PARA186 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Employee</FONT></P></TD>
<TD id=TBL224.finRow.13.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.13.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.13.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>2,174,368</B></TD>
<TD id=TBL224.finRow.13.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.13.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.13.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.13.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">2,146,981</TD>
<TD id=TBL224.finRow.13.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.14 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-LEFT: 9pt; BACKGROUND-COLOR: #ffffff">
<P id=PARA189 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Rollover</FONT></P></TD>
<TD id=TBL224.finRow.14.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.14.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.14.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>168,716</B></TD>
<TD id=TBL224.finRow.14.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.14.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.14.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.14.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">537,074</TD>
<TD id=TBL224.finRow.14.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.15 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.15.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.16 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA192 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total contributions</FONT></P></TD>
<TD id=TBL224.finRow.16.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.16.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.16.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>3,537,429</B></TD>
<TD id=TBL224.finRow.16.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.16.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.16.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.16.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">3,887,116</TD>
<TD id=TBL224.finRow.16.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.17 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.17.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.18 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA195 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Interest from notes receivable</FONT></P></TD>
<TD id=TBL224.finRow.18.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.18.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.18.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>26,879</B></TD>
<TD id=TBL224.finRow.18.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.18.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.18.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.18.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">36,786</TD>
<TD id=TBL224.finRow.18.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.19 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.19.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.20 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA198 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Total Additions</B></FONT></P></TD>
<TD id=TBL224.finRow.20.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.20.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.20.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>13,841,115</B></TD>
<TD id=TBL224.finRow.20.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.20.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.20.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.20.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">6,334,767</TD>
<TD id=TBL224.finRow.20.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.21 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.21.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.22 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA201 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Deductions</B></FONT></P></TD>
<TD id=TBL224.finRow.22.lead.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.symb.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.amt.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.trail.B2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.22.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD></TR>
<TR id=TBL224.finRow.23 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.23.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.24 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA202 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Benefits paid to participants</FONT></P></TD>
<TD id=TBL224.finRow.24.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.24.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.24.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>7,670,541</B></TD>
<TD id=TBL224.finRow.24.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.24.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.24.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.24.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">7,471,954</TD>
<TD id=TBL224.finRow.24.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.25 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<P id=PARA205 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Administrative expenses</FONT></P></TD>
<TD id=TBL224.finRow.25.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.25.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.25.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>137,308</B></TD>
<TD id=TBL224.finRow.25.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.25.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.25.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.25.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">140,823</TD>
<TD id=TBL224.finRow.25.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.26 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.26.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.27 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<P id=PARA208 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Total Deductions</B></FONT></P></TD>
<TD id=TBL224.finRow.27.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.27.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.27.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>7,807,849</B></TD>
<TD id=TBL224.finRow.27.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.27.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.27.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.27.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">7,612,777</TD>
<TD id=TBL224.finRow.27.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.28 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.28.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.29 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA211 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Net increase (decrease)</FONT></P></TD>
<TD id=TBL224.finRow.29.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.29.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.29.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff"><B>6,033,266</B></TD>
<TD id=TBL224.finRow.29.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.29.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.29.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.29.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">(1,278,010</TD>
<TD id=TBL224.finRow.29.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>
<P id=PARA214 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">)</FONT></P></TD></TR>
<TR id=TBL224.finRow.30 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.30.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.31 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.31.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.32 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA216 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Net Assets Available for Benefits,</B> beginning of year</FONT></P></TD>
<TD id=TBL224.finRow.32.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.32.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.32.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>54,048,098</B></TD>
<TD id=TBL224.finRow.32.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.32.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.32.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.32.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">55,326,108</TD>
<TD id=TBL224.finRow.32.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL224.finRow.33 style="BACKGROUND-COLOR: #cceeff">
<TD style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.lead.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.symb.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.amt.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.trail.B2 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.lead.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.symb.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.amt.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL224.finRow.33.trail.B3 style="BACKGROUND-COLOR: #cceeff">&nbsp;</TD></TR>
<TR id=TBL224.finRow.34 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA219 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Net Assets Available for Benefits,</B> end of year</FONT></P></TD>
<TD id=TBL224.finRow.34.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff"><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.34.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>$</B></TD>
<TD id=TBL224.finRow.34.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff"><B>60,081,364</B></TD>
<TD id=TBL224.finRow.34.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap><B>&nbsp;</B></TD>
<TD id=TBL224.finRow.34.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL224.finRow.34.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">$</TD>
<TD id=TBL224.finRow.34.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">54,048,098</TD>
<TD id=TBL224.finRow.34.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR></TABLE>
<P id=PARA225 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA226 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>See accompanying notes to financial statements.</I></FONT></P>
<P id=PARA227 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<DIV id=PGBK739  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR739  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM739  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">5</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK739  href="#TOC">Table of Contents</A>
<DIV id=PGHDR739  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P id=PARA743 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA744 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA745 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK784  name="BKMK784"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Notes </B></FONT></A><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>to Financial Statements </B></FONT></P>
<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000;  BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" align="center">

<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P id=PARA228 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan Description</B></FONT></P>
<P id=PARA229 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA230 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following description of Mercantile Bank of Michigan 401(k) Plan (Plan) provides only general information. Participants should refer to the Plan Agreement or Summary Plan Description for a more complete description of the Plan&#8217;s provisions.</FONT></P>
<P id=PARA231 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA232 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>General</B></I></FONT></P>
<P id=PARA233 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA234 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Plan was established by the Plan Sponsor, Mercantile Bank of Michigan (Bank), effective January&nbsp;1, 1998. The Plan was amended and restated effective January 1, 2013. The Plan is subject to the Employee Retirement Income Security Act of 1974 (ERISA). </FONT></P>
<P id=PARA235 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA236 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Eligibility and Enrollment</B></I></FONT></P>
<P id=PARA237 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>&nbsp;</B></I></FONT></P>
<P id=PARA238 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Plan is a defined contribution plan covering eligible employees who have completed a minimum of one hour of service. Eligible employees can enter the Plan on the first day of the month following date of hire. For newly eligible employees, the Plan provides automatic enrollment for the employee at an amount equal to 3% of compensation, until such time as the employee elects a different percentage or elects no contributions.</FONT></P>
<P id=PARA239 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA240 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Contributions</B></I></FONT></P>
<P id=PARA241 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA242 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Elective deferrals by participants under the Plan provisions are based on a percentage of their compensation, subject to certain limitations as defined by the Plan Agreement. Participants may also make after tax Roth contributions, and may roll over account balances from other qualified defined benefit or defined contribution plans into their account.</FONT></P>
<P id=PARA243 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA244 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Bank makes safe harbor matching contributions equal to 100% of the first 4.25% of compensation deferred by each participant subject to certain limitations as specified in the Plan Document. The Bank may also make a discretionary profit sharing contribution subject to certain limitations as specified in the Plan Agreement. There were no profit sharing contributions in 2016 and 2015.</FONT></P>
<P id=PARA245 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA246 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Participant Accounts</B></I></FONT></P>
<P id=PARA247 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA248 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Each participant&#8217;s account is credited with the participant&#8217;s contributions, allocations of the Bank&#8217;s matching contribution and Plan earnings. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant&#8217;s account. Participants may direct the investment of their account balances into various investment options offered by the Plan.</FONT></P>
<P id=PARA249 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA250 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Vesting</B></I></FONT></P>
<P id=PARA251 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA252 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Participants are immediately vested in their elective deferrals and all employer contributions and earnings thereon.</FONT></P>
<P id=PARA253 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA748 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA749 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA750 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Notes to Financial Statements</B></FONT></P>
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<P id=PARA254 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Notes Receivable From Participants</B></I></FONT></P>
<P id=PARA255 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA256 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Participants may borrow from their accounts a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. The notes are secured by the balance in the participant&#8217;s account and bear interest at rates that are commensurate with local borrowing rates. Interest rates on notes receivable outstanding as of December&nbsp;31, 2016 ranged from 3.25% to 7.75%. Principal and interest is paid ratably through payroll deductions over a period not to exceed five years, unless the notes were used to purchase a primary residence, in which case the note terms shall not exceed ten years.</FONT></P>
<P id=PARA257 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA258 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Payment of Benefits</B></I></FONT></P>
<P id=PARA259 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA260 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Upon separation of service, death, disability or retirement, a participant or his or her beneficiary will receive a distribution of the participant&#8217;s account as a lump-sum amount. A participant may receive the portion of his or her account invested in Mercantile Bank Corporation common stock in either common shares or cash. Additionally, under certain circumstances of financial hardship, participants are allowed to withdraw funds from the Plan.</FONT></P>
<P id=PARA261 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA262 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Administrative Expenses</B></I></FONT></P>
<P id=PARA263 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>&nbsp;</B></I></FONT></P>
<P id=PARA264 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Certain administrative expenses are paid by the Plan Sponsor. Certain fees incurred as a result of participant-directed transactions (e.g., participant loan origination and distribution fees) are charged directly to the participant&#8217;s account. A trustee fee is paid to Greenleaf Trust, which is calculated quarterly based on the market value of the Plan assets and allocated to participant accounts on a quarterly basis. </FONT></P>
<P id=PARA265 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA266 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In July 2015, the FASB issued Accounting Standards Update 2015-12, <I>Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965), (ASU 2015-12): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, </I><I>(</I><I>Part III) Measurement Date Practical Expedient. </I>This three-part update simplifies current benefit plan accounting and requires (i) fully benefit-responsive investment contracts to be measured, presented, and disclosed only at contract value and accordingly removes the requirement to reconcile their contract value to fair value; (ii) benefit plans to disaggregate their investments measured using fair value by general type, either on the face of the financial statements or in the notes to the financial statements; (iii) the net appreciation or depreciation in investments for the period to be presented in the aggregate rather than by general type, and removes certain disclosure requirements relevant to individual investments that represent five percent or more of net assets available for benefits. Further, the amendments in this update eliminate the requirement to disclose the investment strategy for certain investments that are measured using Net Asset Value (NAV) per share. These amendments are effective retrospectively for fiscal years beginning after December 15, 2015 and early adoption is permitted.&nbsp; This update also provides a practical expedient to permit employee benefit plans to measure investments and investment-related accounts as of the month-end that is closest to the plan&#8217;s fiscal year-end, when the fiscal period does not coincide with a month-end, while requiring certain additional disclosures. This portion of the update is effective prospectively for fiscal years beginning after December 15, 2015 and early adoption is permitted. </FONT></P>
<P id=PARA267 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA269 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Plan management reviewed ASU 2015-12, and decided to early adopt this standard for the Plan year ended December 31, 2015 as they believed it simplified Plan accounting and its presentation in the financial statements.&nbsp; As such, the accounting and disclosures in these financial statements and notes follow ASU 2015-12.&nbsp; </FONT></P>
<P id=PARA270 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA751 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA752 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA753 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Notes to Financial Statements</B></FONT></P>
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<P id=PARA272 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
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<P id=PARA273 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Significant Accounting Policies</B></FONT></P>
<P id=PARA274 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA275 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Basis of Accounting</B></I></FONT></P>
<P id=PARA276 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA277 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying financial statements are prepared under the accrual method of accounting.</FONT></P>
<P id=PARA278 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA279 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Use of Estimates</B></I></FONT></P>
<P id=PARA280 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA281 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets and changes therein. Actual results could differ from those estimates.</FONT></P>
<P id=PARA282 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA283 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Risks and Uncertainties</B></I></FONT></P>
<P id=PARA284 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA285 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants&#8217; account balances and the amounts reported in the financial statements.</FONT></P>
<P id=PARA286 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA287 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Concentration of Credit Risk</B></I></FONT></P>
<P id=PARA288 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA289 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">At December&nbsp;31, 2016 and 2015, approximately 31% and 26%, respectively, of the Plan&#8217;s assets were invested in Mercantile Bank Corporation common stock. A significant decline in the market value of the common stock would significantly affect the net assets available for benefits.</FONT></P>
<P id=PARA290 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA291 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Investment Valuation and Income Recognition</B></I></FONT></P>
<P id=PARA292 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA293 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Plan&#8217;s investments are stated at fair value. Fair value is the price that would be received to sell an asset (an exit price) in the principal or most advantageous market for the asset in an orderly transaction between market participants on the measurement date. See Note 3 for discussion of fair value measurements.</FONT></P>
<P id=PARA294 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA295 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Purchases and sales of securities are recorded on a trade date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes the Plan&#8217;s gains and losses on investments bought and sold as well as held during the year.</FONT></P>
<P id=PARA296 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA297 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Notes Receivable &#8211; Participant Loans</B></I></FONT></P>
<P id=PARA298 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA299 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Participant loans are classified as notes receivable from participants, and are measured at the unpaid principal balance plus unpaid accrued interest. Defaulted loans, if any, are reclassified as distributions based upon the terms of the Plan Document.</FONT></P>
<P id=PARA300 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA301 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I><B>Payment of Benefits</B></I></FONT></P>
<P id=PARA302 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA303 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Benefits are recorded when paid.</FONT></P>
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<P id=PARA304 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA755 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA756 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA757 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Notes to Financial Statements</B></FONT></P>
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<P id=PARA305 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<P id=PARA306 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA307 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments</B></FONT></P>
<P id=PARA308 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA309 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">In accordance with ASC 820, <I>Fair Value Measurements and Disclosures, </I>the Plan utilizes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets (Level&nbsp;1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). A financial instrument&#8217;s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The three levels of the fair value hierarchy are described as follows:</FONT></P>
<P id=PARA310 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA311 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>Level 1</I> - </FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Inputs to the valuation methodology are unadjusted quoted prices for identical assets in active markets.</FONT></P>
<P id=PARA312 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA313 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>Level 2</I> - </FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Inputs to the valuation methodology include quoted prices for similar assets in active markets, quoted prices for identical or similar assets in inactive markets, and other inputs that are observable or can be corroborated by observable market data.</FONT></P>
<P id=PARA314 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA315 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>Level </I>3 - Inputs to the valuation methodology are both significant to the fair value measurement and unobservable.</FONT></P>
<P id=PARA316 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA317 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The following valuation methodologies were used to measure the fair value of the Plan&#8217;s investments. There have been no changes in the methodologies used at December&nbsp;31, 2016 and 2015.</FONT></P>
<P id=PARA318 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>&nbsp;</I></FONT></P>
<P id=PARA319 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>Money market and mutual funds - </I></FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Valued at quoted market prices in an exchange and active market, which represent the NAV&nbsp;of shares held by the Plan.</FONT></P>
<P id=PARA320 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA321 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>Mercantile Bank Corporation common stock -</I> </FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Valued at the closing price reported on the active market on which the security is traded.</FONT></P>
<P id=PARA322 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA323 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Plan&#8217;s valuation methods may result in a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Although Plan management believes the valuation methods are appropriate and consistent with the market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</FONT></P>
<P id=PARA324 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA325 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA326 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The tables below set forth by level within the fair value hierarchy the Plan&#8217;s investments as of December&nbsp;31, 2016 and 2015. There have been no significant transfers in or out of Levels 1, 2 or&nbsp;3 in 2016 or 2015.</FONT></P>
<P id=PARA327 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL364  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR id=TBL364.finRow.1>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD id=TBL364.finRow.1.lead.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom">&nbsp;</TD>
<TD id=TBL364.finRow.1.amt.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colSpan=14>
<P id=PARA328 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Investments at Fair Value</FONT></P></TD>
<TD id=TBL364.finRow.1.trail.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD></TR>
<TR id=TBL364.finRow.2>
<TD>&nbsp;</TD>
<TD id=TBL364.finRow.2.lead.B2>&nbsp;</TD>
<TD id=TBL364.finRow.2.symb.B2>&nbsp;</TD>
<TD id=TBL364.finRow.2.amt.B2>&nbsp;</TD>
<TD id=TBL364.finRow.2.trail.B2>&nbsp;</TD>
<TD id=TBL364.finRow.2.lead.B3>&nbsp;</TD>
<TD id=TBL364.finRow.2.symb.B3>&nbsp;</TD>
<TD id=TBL364.finRow.2.amt.B3>&nbsp;</TD>
<TD id=TBL364.finRow.2.trail.B3>&nbsp;</TD>
<TD id=TBL364.finRow.2.lead.B4>&nbsp;</TD>
<TD id=TBL364.finRow.2.symb.B4>&nbsp;</TD>
<TD id=TBL364.finRow.2.amt.B4>&nbsp;</TD>
<TD id=TBL364.finRow.2.trail.B4>&nbsp;</TD>
<TD id=TBL364.finRow.2.lead.B5>&nbsp;</TD>
<TD id=TBL364.finRow.2.symb.B5>&nbsp;</TD>
<TD id=TBL364.finRow.2.amt.B5>&nbsp;</TD>
<TD id=TBL364.finRow.2.trail.B5>&nbsp;</TD></TR>
<TR id=TBL364.finRow.3>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA329 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>December 31, 2016</I></FONT></P></TD>
<TD id=TBL364.finRow.3.lead.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.amt.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA330 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 1</FONT></P></TD>
<TD id=TBL364.finRow.3.trail.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.lead.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.amt.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA331 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 2</FONT></P></TD>
<TD id=TBL364.finRow.3.trail.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.lead.D4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.amt.D4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA332 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 3</FONT></P></TD>
<TD id=TBL364.finRow.3.trail.D4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.lead.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL364.finRow.3.amt.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt" colSpan=2>
<P id=PARA333 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total</FONT></P></TD>
<TD id=TBL364.finRow.3.trail.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD></TR>
<TR id=TBL364.finRow.4>
<TD>&nbsp;</TD>
<TD id=TBL364.finRow.4.lead.B2>&nbsp;</TD>
<TD id=TBL364.finRow.4.symb.B2>&nbsp;</TD>
<TD id=TBL364.finRow.4.amt.B2>&nbsp;</TD>
<TD id=TBL364.finRow.4.trail.B2>&nbsp;</TD>
<TD id=TBL364.finRow.4.lead.B3>&nbsp;</TD>
<TD id=TBL364.finRow.4.symb.B3>&nbsp;</TD>
<TD id=TBL364.finRow.4.amt.B3>&nbsp;</TD>
<TD id=TBL364.finRow.4.trail.B3>&nbsp;</TD>
<TD id=TBL364.finRow.4.lead.B4>&nbsp;</TD>
<TD id=TBL364.finRow.4.symb.B4>&nbsp;</TD>
<TD id=TBL364.finRow.4.amt.B4>&nbsp;</TD>
<TD id=TBL364.finRow.4.trail.B4>&nbsp;</TD>
<TD id=TBL364.finRow.4.lead.B5>&nbsp;</TD>
<TD id=TBL364.finRow.4.symb.B5>&nbsp;</TD>
<TD id=TBL364.finRow.4.amt.B5>&nbsp;</TD>
<TD id=TBL364.finRow.4.trail.B5>&nbsp;</TD></TR>
<TR id=TBL364.finRow.5 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA334 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mutual funds</FONT></P></TD>
<TD id=TBL364.finRow.5.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.5.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.5.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">39,094,270</TD>
<TD id=TBL364.finRow.5.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.5.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.5.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.5.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">-</TD>
<TD id=TBL364.finRow.5.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.5.lead.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.5.symb.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.5.amt.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">-</TD>
<TD id=TBL364.finRow.5.trail.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.5.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.5.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.5.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">39,094,270</TD>
<TD id=TBL364.finRow.5.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL364.finRow.6 style="BACKGROUND-COLOR: #ffffff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA343 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Common stock</FONT></P></TD>
<TD id=TBL364.finRow.6.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">$</TD>
<TD id=TBL364.finRow.6.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">18,656,297</TD>
<TD id=TBL364.finRow.6.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.6.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">-</TD>
<TD id=TBL364.finRow.6.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.6.lead.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.symb.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.amt.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">-</TD>
<TD id=TBL364.finRow.6.trail.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.6.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.6.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">18,656,297</TD>
<TD id=TBL364.finRow.6.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL364.finRow.7 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<P id=PARA349 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Money market fund</FONT></P></TD>
<TD id=TBL364.finRow.7.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.7.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">1,739,766</TD>
<TD id=TBL364.finRow.7.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.7.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">-</TD>
<TD id=TBL364.finRow.7.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.7.lead.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.symb.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.amt.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">-</TD>
<TD id=TBL364.finRow.7.trail.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.7.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.7.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">1,739,766</TD>
<TD id=TBL364.finRow.7.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL364.finRow.8 style="BACKGROUND-COLOR: #ffffff">
<TD style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.lead.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.symb.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.amt.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.trail.B2 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.lead.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.symb.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.amt.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.trail.B3 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.lead.B4 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.symb.B4 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.amt.B4 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.trail.B4 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.lead.B5 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.symb.B5 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.amt.B5 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL364.finRow.8.trail.B5 style="BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL364.finRow.9 style="BACKGROUND-COLOR: #cceeff">
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">
<P id=PARA355 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Investments,</B> at fair value</FONT></P></TD>
<TD id=TBL364.finRow.9.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.9.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.9.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">59,490,333</TD>
<TD id=TBL364.finRow.9.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.9.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.9.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.9.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">-</TD>
<TD id=TBL364.finRow.9.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.9.lead.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.9.symb.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.9.amt.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">-</TD>
<TD id=TBL364.finRow.9.trail.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL364.finRow.9.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL364.finRow.9.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL364.finRow.9.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">59,490,333</TD>
<TD id=TBL364.finRow.9.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; PADDING-BOTTOM: 0px; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR></TABLE>
<P id=PARA365 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<DIV id=PGBK758  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR758  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM758  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">9</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK758  href="#TOC">Table of Contents</A>
<DIV id=PGHDR758  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P id=PARA759 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA760 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA761 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Notes to Financial Statements</B></FONT></P>
<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000;  BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" align="center">

<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<P style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px">&nbsp;</P>
<TABLE id=TBL392  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR id=TBL392.finRow.1>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL392.finRow.1.lead.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD>
<TD id=TBL392.finRow.1.amt.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; MARGIN-LEFT: 0pt" colSpan=14>
<P id=PARA366 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Investments at Fair Value</FONT></P></TD>
<TD id=TBL392.finRow.1.trail.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp;</TD></TR>
<TR id=TBL392.finRow.2>
<TD>&nbsp;</TD>
<TD id=TBL392.finRow.2.lead.B2>&nbsp;</TD>
<TD id=TBL392.finRow.2.symb.B2>&nbsp;</TD>
<TD id=TBL392.finRow.2.amt.B2>&nbsp;</TD>
<TD id=TBL392.finRow.2.trail.B2>&nbsp;</TD>
<TD id=TBL392.finRow.2.lead.B3>&nbsp;</TD>
<TD id=TBL392.finRow.2.symb.B3>&nbsp;</TD>
<TD id=TBL392.finRow.2.amt.B3>&nbsp;</TD>
<TD id=TBL392.finRow.2.trail.B3>&nbsp;</TD>
<TD id=TBL392.finRow.2.lead.B4>&nbsp;</TD>
<TD id=TBL392.finRow.2.symb.B4>&nbsp;</TD>
<TD id=TBL392.finRow.2.amt.B4>&nbsp;</TD>
<TD id=TBL392.finRow.2.trail.B4>&nbsp;</TD>
<TD id=TBL392.finRow.2.lead.B5>&nbsp;</TD>
<TD id=TBL392.finRow.2.symb.B5>&nbsp;</TD>
<TD id=TBL392.finRow.2.amt.B5>&nbsp;</TD>
<TD id=TBL392.finRow.2.trail.B5>&nbsp;</TD></TR>
<TR id=TBL392.finRow.3>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 52%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA367 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>December 31, 2015</I></FONT></P></TD>
<TD id=TBL392.finRow.3.lead.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.amt.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" colSpan=2>
<P id=PARA368 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 1</FONT></P></TD>
<TD id=TBL392.finRow.3.trail.D2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.lead.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.amt.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" colSpan=2>
<P id=PARA369 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 2</FONT></P></TD>
<TD id=TBL392.finRow.3.trail.D3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.lead.D4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.amt.D4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" colSpan=2>
<P id=PARA370 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Level 3</FONT></P></TD>
<TD id=TBL392.finRow.3.trail.D4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.lead.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.3.amt.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" colSpan=2>
<P id=PARA371 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total</FONT></P></TD>
<TD id=TBL392.finRow.3.trail.D5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp;</TD></TR>
<TR id=TBL392.finRow.4>
<TD>&nbsp;</TD>
<TD id=TBL392.finRow.4.lead.B2>&nbsp;</TD>
<TD id=TBL392.finRow.4.symb.B2>&nbsp;</TD>
<TD id=TBL392.finRow.4.amt.B2>&nbsp;</TD>
<TD id=TBL392.finRow.4.trail.B2>&nbsp;</TD>
<TD id=TBL392.finRow.4.lead.B3>&nbsp;</TD>
<TD id=TBL392.finRow.4.symb.B3>&nbsp;</TD>
<TD id=TBL392.finRow.4.amt.B3>&nbsp;</TD>
<TD id=TBL392.finRow.4.trail.B3>&nbsp;</TD>
<TD id=TBL392.finRow.4.lead.B4>&nbsp;</TD>
<TD id=TBL392.finRow.4.symb.B4>&nbsp;</TD>
<TD id=TBL392.finRow.4.amt.B4>&nbsp;</TD>
<TD id=TBL392.finRow.4.trail.B4>&nbsp;</TD>
<TD id=TBL392.finRow.4.lead.B5>&nbsp;</TD>
<TD id=TBL392.finRow.4.symb.B5>&nbsp;</TD>
<TD id=TBL392.finRow.4.amt.B5>&nbsp;</TD>
<TD id=TBL392.finRow.4.trail.B5>&nbsp;</TD></TR>
<TR id=TBL392.finRow.5>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA372 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mutual funds</FONT></P></TD>
<TD id=TBL392.finRow.5.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL392.finRow.5.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">37,222,474</TD>
<TD id=TBL392.finRow.5.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL392.finRow.5.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.lead.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.symb.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.amt.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.trail.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.5.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL392.finRow.5.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">37,222,474</TD>
<TD id=TBL392.finRow.5.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL392.finRow.6>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA377 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Common stock</FONT></P></TD>
<TD id=TBL392.finRow.6.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">$</TD>
<TD id=TBL392.finRow.6.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">13,863,750</TD>
<TD id=TBL392.finRow.6.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD>
<TD id=TBL392.finRow.6.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.lead.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.symb.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.amt.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.trail.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp;</TD>
<TD id=TBL392.finRow.6.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff">13,863,750</TD>
<TD id=TBL392.finRow.6.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #ffffff" noWrap>&nbsp;</TD></TR>
<TR id=TBL392.finRow.7>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">
<P id=PARA381 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Money market fund</FONT></P></TD>
<TD id=TBL392.finRow.7.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL392.finRow.7.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">2,267,555</TD>
<TD id=TBL392.finRow.7.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL392.finRow.7.lead.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.symb.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.amt.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.trail.B3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.lead.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.symb.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.amt.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.trail.B4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.7.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">2,267,555</TD>
<TD id=TBL392.finRow.7.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR>
<TR id=TBL392.finRow.8>
<TD>&nbsp;</TD>
<TD id=TBL392.finRow.8.lead.B2>&nbsp;</TD>
<TD id=TBL392.finRow.8.symb.B2>&nbsp;</TD>
<TD id=TBL392.finRow.8.amt.B2>&nbsp;</TD>
<TD id=TBL392.finRow.8.trail.B2>&nbsp;</TD>
<TD id=TBL392.finRow.8.lead.B3>&nbsp;</TD>
<TD id=TBL392.finRow.8.symb.B3>&nbsp;</TD>
<TD id=TBL392.finRow.8.amt.B3>&nbsp;</TD>
<TD id=TBL392.finRow.8.trail.B3>&nbsp;</TD>
<TD id=TBL392.finRow.8.lead.B4>&nbsp;</TD>
<TD id=TBL392.finRow.8.symb.B4>&nbsp;</TD>
<TD id=TBL392.finRow.8.amt.B4>&nbsp;</TD>
<TD id=TBL392.finRow.8.trail.B4>&nbsp;</TD>
<TD id=TBL392.finRow.8.lead.B5>&nbsp;</TD>
<TD id=TBL392.finRow.8.symb.B5>&nbsp;</TD>
<TD id=TBL392.finRow.8.amt.B5>&nbsp;</TD>
<TD id=TBL392.finRow.8.trail.B5>&nbsp;</TD></TR>
<TR id=TBL392.finRow.9>
<TD style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">
<P id=PARA385 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Investments,</B> at fair value</FONT></P></TD>
<TD id=TBL392.finRow.9.lead.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.9.symb.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL392.finRow.9.amt.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">53,353,779</TD>
<TD id=TBL392.finRow.9.trail.2 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL392.finRow.9.lead.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.9.symb.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">$&nbsp;</TD>
<TD id=TBL392.finRow.9.amt.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.9.trail.3 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL392.finRow.9.lead.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.9.symb.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">$&nbsp;</TD>
<TD id=TBL392.finRow.9.amt.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.9.trail.4 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD>
<TD id=TBL392.finRow.9.lead.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #cceeff">&nbsp;</TD>
<TD id=TBL392.finRow.9.symb.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">$</TD>
<TD id=TBL392.finRow.9.amt.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff">53,353,779</TD>
<TD id=TBL392.finRow.9.trail.5 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; MARGIN-LEFT: 0pt; BACKGROUND-COLOR: #cceeff" noWrap>&nbsp;</TD></TR></TABLE>
<P id=PARA393 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA394 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related Party Transactions</B></FONT></P>
<P id=PARA395 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA396 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Parties-in-interest are defined under Department of Labor (DOL)&nbsp;regulations as any fiduciary of the Plan, any party rendering service to the Plan, the employer and certain other parties. Professional fees for the administration and audit of the Plan are paid by the Bank.</FONT></P>
<P id=PARA397 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA398 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The 494,862 and 564,945 shares of Mercantile Bank Corporation common stock held by the Plan as of December&nbsp;31, 2016 and 2015, respectively, represent approximately 3.01% and 3.45% of the Corporation&#8217;s outstanding shares as of December&nbsp;31, 2016 and 2015, respectively.</FONT></P>
<P id=PARA399 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA400 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cash dividends of $584,852 and $368,702 were paid to the Plan by Mercantile Bank Corporation during 2016 and 2015, respectively. </FONT></P>
<P id=PARA401 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA402 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plan Termination</B></FONT></P>
<P id=PARA403 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA404 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Although it has not expressed any intent to do so, the Bank has the right under the Plan to terminate the Plan, subject to the provisions of ERISA.</FONT></P>
<P id=PARA405 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA406 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax Status</B></FONT></P>
<P id=PARA407 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA408 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Internal Revenue Service has determined and informed the Bank by a letter dated August 7, 2014 that the amended and restated Plan effective January 1, 2013 and related trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC). The Plan has been amended since receiving the determination letter; however, the Plan Administrator believes that the Plan is designed and is being operated in compliance with the applicable requirements of the IRC. The related trust, therefore, is not subject to tax under present tax law.</FONT></P>
<P id=PARA409 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA410 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions taken by the Plan and has concluded that as of December&nbsp;31, 2016 there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there currently are no audits for any tax periods in progress. </FONT></P>
<P id=PARA762.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK762  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR762  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM762  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">10</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK762  href="#TOC">Table of Contents</A>
<DIV id=PGHDR762  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA762.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA763 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK785  name="BKMK785"><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Mercantile </B></FONT></A><FONT style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Bank of Michigan 401(k) Plan</B></FONT></P>
<P id=PARA764 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA414 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK786  name="BKMK786"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Schedule </B></FONT></A><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>H, Line 4i &#8211; Schedule of Assets (Held at End of Year)</B></FONT></P>
<HR style="BORDER-TOP: medium none; HEIGHT: 1px; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; COLOR: #000000;  BORDER-LEFT: medium none; BACKGROUND-COLOR: #000000" align="center">

<P id=PARA415 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">EIN: 38-3360868</FONT></P>
<P id=PARA416 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Plan Number: 001</FONT></P>
<P id=PARA417 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<TABLE id=TBL592  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 54.2%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" colSpan=3>
<P id=PARA418 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>December&nbsp;31, 2016</I></FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" colSpan=2>&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px" colSpan=2>&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA419 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(a)</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA420 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(b)</FONT></P>
<P id=PARA421 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Identity of Issuer, Borrower, Lessor or&nbsp;Similar&nbsp;Party</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid" colSpan=2>
<P id=PARA422 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(c)</FONT></P>
<P id=PARA423 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Description of</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Investment, Including</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Maturity Date, Rate </FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">of&nbsp;Interest, Collateral,</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Par or Maturity Value</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA424 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(d)</FONT></P>
<P id=PARA425 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Cost</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA426 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(e)</FONT></P>
<P id=PARA427 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Current Value</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">&nbsp; </TD></TR>
<TR>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA428 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 12.1pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -12.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mutual funds</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA429 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Blackrock Equity Dividend Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA430 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">98,907</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA431 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA432 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA433 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">$</FONT></P></TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA434 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">2,230,350</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA435 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Fidelity Advisor New Insights </FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA436 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">69,794</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA437 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA438 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA439 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,882,335</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA440 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Franklin Small Cap Value R6</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA441 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">15,664</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA442 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA443 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA444 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">896,136</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA445 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Goldman Sachs Mid Cap Value Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA446 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">18,419</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA447 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA448 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA449 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">682,959</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA450 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Hartford International Opportunities Y</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA451 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">73,467</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA452 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares </FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA453 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA454 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,099,797</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA455 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Prudential Jennison Small Cap Z Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA456 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">30,097</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA457 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA458 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA459 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">717,816</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA460 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Mid Cap Growth Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA461 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">13,781</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA462 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA463 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA464 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,038,499</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA465 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard 500 Index Admiral Shares</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA466 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">16,341</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA467 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA468 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA469 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">3,375,463</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA470 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Mid Cap Index Admiral Shares</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA471 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">6,623</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA472 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA473 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA474 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,079,122</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA475 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Small Cap Index Admiral Shares</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA476 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">14,420</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA477 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA478 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA479 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">890,706</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA480 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Delaware Emerging Market</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA481 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">26,125</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA482 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA483 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA484 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">380,117</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 52.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" colSpan=2>
<P id=PARA485 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Matthews Pacific Tiger Fund</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA486 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">13,847</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA487 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA488 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA489 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">317,385</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA490 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Total International Index Admiral </FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA491 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">43,488</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA492 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA493 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA494 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,071,116</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA495 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Balanced I Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA496 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">58,500</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA497 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA498 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA499 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA500 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">621,268</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA501 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Personal Income Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA502 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">62,585</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA503 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA504 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA505 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,127,157</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA506 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2010 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA507 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">21,346</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA508 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA509 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA510 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">230,532</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA511 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2015 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA512 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">98,736</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA513 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA514 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA515 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,074,244</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA516 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2020 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA517 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">395,338</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA518 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA519 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA520 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4,340,816</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA521 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2030 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA522 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">621,285</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA523 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA524 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA525 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">6,908,685</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA526 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2040 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA527 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">378,851</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA528 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA529 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA530 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">4,250,703</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA531 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2045 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA532 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">115,008</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA533 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA534 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA535 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,290,389</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA536 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2050 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA537 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">115,510</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA538 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA539 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA540 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,296,026</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA541 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">T Rowe Price Retirement 2060 Fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA542 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,802</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA543 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares </FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA544 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA545 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">20,071</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA546 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Intermediate Term Treasury Admiral </FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA547 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">41,406</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA548 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA549 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA550 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">459,195</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA551 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Short Term Treasury ADM</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA552 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">19,205</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA553 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<P id=PARA554 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA555 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">204,346</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA556 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Short Term Invest Grade Fund Admiral</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA557 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">41,071</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA558 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA559 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA560 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">436,580</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA561 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Vanguard Total Bond Market Admiral Shares</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA562 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">110,090</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA563 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA564 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA565 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,172,457</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA566 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 12.1pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -12.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Total mutual funds</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA567 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">39,094,270</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA568 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 12.1pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -12.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Common stock</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA569 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<P id=PARA570 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA571 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">*</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA572 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 14.4pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -7.2pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mercantile Bank Corporation</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA573 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">494,862</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA574 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">
<P id=PARA575 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA576 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">18,656,297</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">
<P id=PARA577 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 12.1pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -12.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Money market fund</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA578 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 7.2pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Northern Institutional Treasury Portfolio</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA579 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,739,766</FONT></P></TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA580 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;shares</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA581 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">**</FONT></P></TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">
<P id=PARA582 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">1,739,766</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 10.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA583 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Total Investments, at Fair Value</B></FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff" colSpan=2>&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA584 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">$</FONT></P></TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA585 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">59,490,333</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #cceeff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">
<P id=PARA586 style="TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 12.1pt; LINE-HEIGHT: 1.25; TEXT-INDENT: -12.1pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff" colSpan=2>&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px; BACKGROUND-COLOR: #cceeff">&nbsp; </TD></TR>
<TR style="BACKGROUND-COLOR: #ffffff">
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA587 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">*</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 49.7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA588 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Notes Receivable From Participants</B></FONT></P></TD>
<TD style="WIDTH: 2.8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 21%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff" colSpan=2>
<P id=PARA589 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">(3.25% to 7.75%)</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 5.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD>
<TD style="WIDTH: 3%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA590 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">$</FONT></P></TD>
<TD style="WIDTH: 9.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">
<P id=PARA591 style="TEXT-ALIGN: right; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">583,315</FONT></P></TD>
<TD style="WIDTH: 1.5%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 3px double; BACKGROUND-COLOR: #ffffff">&nbsp; </TD></TR></TABLE>
<P id=PARA593 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>&nbsp;</I></FONT></P>
<P id=PARA594 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>* A party-in-interest as defined by ERISA. </I></FONT></P>
<P id=PARA595 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><I>** The cost of participant-directed investments is not required to be disclosed. </I></FONT></P>
<P id=PARA767.1 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK767  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR767  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM767  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">11</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK767  href="#TOC">Table of Contents</A>
<DIV id=PGHDR767  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA767.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA596 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK787  name="BKMK787"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit </B></FONT></A><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>to Report on Form 11-K</B></FONT></P>
<P id=PARA599 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA598 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<TABLE id=TBL612S1  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 7.6%; VERTICAL-ALIGN: bottom">
<P id=PARA600 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA601 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: bottom">
<P id=PARA602 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 7.6%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA603 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit No.</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA604 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA605 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit Description</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 7.6%; VERTICAL-ALIGN: top">
<P id=PARA606 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA607 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: top">
<P id=PARA608 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 7.6%; VERTICAL-ALIGN: top">
<P id=PARA609 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.1</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA610 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: top">
<P id=PARA611 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Independent Registered Public Accounting Firm</FONT></P></TD></TR></TABLE>
<P id=PARA768 style="MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;<FONT style="FONT-SIZE: 2pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<DIV id=PGBK615  style="WIDTH: 100%; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=PGFTR615  style="WIDTH: 100%; TEXT-ALIGN: center">&nbsp;</DIV>
<DIV id=PGNUM615  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">12</DIV>
<HR style="HEIGHT: 2px; WIDTH: 100%; PAGE-BREAK-AFTER: always; COLOR: #000000" noShade>
<A id=TOCLINK615  href="#TOC">Table of Contents</A>
<DIV id=PGHDR615  style="WIDTH: 100%; TEXT-ALIGN: left">&nbsp;</DIV></DIV>
<P id=PARA615.2 style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 0px"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
<P id=PARA617 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK788  name="BKMK788"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>SIGNATURES</B></FONT></A></P>
<P id=PARA620 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA619 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the trustee (or other persons who administer the employee benefit plan) has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25">&nbsp;</P>
<TABLE id=TBL641  style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px" cellSpacing=0 cellPadding=0 border=0>

<TR>
<TD style="WIDTH: 45%; VERTICAL-ALIGN: top">
<P id=PARA626 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 40.9%; VERTICAL-ALIGN: middle" colSpan=3>
<P id=PARA627 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mercantile Bank of Michigan</FONT></P>
<P id=PARA628 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">401(k) Plan</FONT><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"></FONT></P></TD>
<TD style="WIDTH: 14%; VERTICAL-ALIGN: middle">
<P id=PARA630 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
<TR>
<TD style="WIDTH: 45%; VERTICAL-ALIGN: top">&nbsp;</TD>
<TD style="WIDTH: 40.9%; VERTICAL-ALIGN: middle" colSpan=3>&nbsp;</TD>
<TD style="WIDTH: 14%; VERTICAL-ALIGN: middle">&nbsp;</TD></TR>
<TR>
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<P id=PARA631 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Date: June 28, 2017</FONT></P></TD>
<TD style="WIDTH: 40.9%; VERTICAL-ALIGN: middle" colSpan=3>
<P id=PARA632 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">By:&nbsp;<U>/s/ Lonna L. Wiersma&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></P></TD>
<TD style="WIDTH: 14%; VERTICAL-ALIGN: middle">
<P id=PARA633 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<TD style="WIDTH: 45%; VERTICAL-ALIGN: middle">
<P id=PARA634 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 40.9%; VERTICAL-ALIGN: middle" colSpan=3>
<P id=PARA635 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;Lonna L. Wiersma, Plan Administrator</FONT></P></TD>
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<P id=PARA636 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<TD style="WIDTH: 100%; VERTICAL-ALIGN: middle" colSpan=5>
<P id=PARA640 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR></TABLE>
<P id=PARA642 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 2pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT></P>
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<DIV id=PGNUM643  style="FONT-SIZE: 10pt; WIDTH: 100%; TEXT-ALIGN: center">13</DIV>
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<A id=TOCLINK643  href="#TOC">Table of Contents</A>
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<P id=PARA644 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA646 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA645 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA648 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA647 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><A id=BKMK790  name="BKMK790"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit&nbsp;</B></FONT></A><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Index</B></FONT></P>
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<TD style="WIDTH: 7.6%; VERTICAL-ALIGN: bottom">
<P id=PARA649 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA650 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: bottom">
<P id=PARA651 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<P id=PARA652 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit No.</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA653 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 1px solid">
<P id=PARA654 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Exhibit Description</FONT></P></TD></TR>
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<TD style="WIDTH: 7.6%; VERTICAL-ALIGN: top">
<P id=PARA655 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 2%; VERTICAL-ALIGN: bottom">
<P id=PARA656 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: top">
<P id=PARA657 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD></TR>
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<P id=PARA658 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">23.1</FONT></P></TD>
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<P id=PARA659 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P></TD>
<TD style="WIDTH: 90.4%; VERTICAL-ALIGN: top">
<P id=PARA660 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Consent of Independent Registered Public Accounting Firm</FONT></P></TD></TR></TABLE>
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<P id=PARA665 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">14</FONT></P></BODY></HTML>
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<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
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<P id=PARA665 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>Exhibit 23.1</B></FONT></P>
<P id=PARA666 style="TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><B>&nbsp;</B></FONT></P>
<P id=PARA668 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA667 style="TEXT-ALIGN: center; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U>Consent of Independent Registered Public Accounting Firm</U></FONT></P>
<P id=PARA670 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA669 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA672 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA671 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Mercantile Bank of Michigan 401(k) Plan</FONT></P>
<P id=PARA673 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grand Rapids, Michigan</FONT></P>
<P id=PARA675 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA674 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We hereby consent to the incorporation by reference in the Registration Statements on Form S-8 (Nos. 333-170026, 333-117763 and 333-152254) of our report dated June 28, 2017 relating to the financial statements and supplemental schedule of Mercantile Bank of Michigan 401(k) Plan which appears in this Form 11-K for the year ended December 31, 2016.</FONT></P>
<P id=PARA677 style="MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA676 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA678 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><U>/s/ BDO USA, LLP</U></FONT></P>
<P id=PARA679 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</FONT></P>
<P id=PARA680 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">Grand Rapids, Michigan</FONT></P>
<P id=PARA681 style="TEXT-ALIGN: justify; MARGIN: 0pt; LINE-HEIGHT: 1.25"><FONT style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">June 28, 2017</FONT></P></BODY></HTML>
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