XML 68 R52.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Note 23 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | 2019 |  |  | 2018 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 6,045,000 |  |  | $ | 9,653,000 |
Investment in bank subsidiary |  |  | 439,946,000 |  |  |  | 394,561,000 |
Other assets |  |  | 18,032,000 |  |  |  | 19,740,000 |
Total assets |  | $ | 464,023,000 |  |  | $ | 423,954,000 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Liabilities |  | $ | 581,000 |  |  | $ | 2,506,000 |
Subordinated debentures |  |  | 46,881,000 |  |  |  | 46,199,000 |
Shareholders’ equity |  |  | 416,561,000 |  |  |  | 375,249,000 |
Total liabilities and shareholders’ equity |  | $ | 464,023,000 |  |  | $ | 423,954,000 |
Condensed Income Statement [Table Text Block] |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividends from subsidiaries |  | $ | 22,246,000 |  |  | $ | 33,832,000 |  |  | $ | 16,203,000 |
Total income |  |  | 22,246,000 |  |  |  | 33,832,000 |  |  |  | 16,203,000 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 3,153,000 |  |  |  | 2,999,000 |  |  |  | 2,496,000 |
Other operating expenses |  |  | 4,804,000 |  |  |  | 4,424,000 |  |  |  | 3,651,000 |
Total expenses |  |  | 7,957,000 |  |  |  | 7,423,000 |  |  |  | 6,147,000 |
Income before income tax benefit and equity in undistributed net income of subsidiary |  |  | 14,289,000 |  |  |  | 26,409,000 |  |  |  | 10,056,000 |
Federal income tax benefit |  |  | (1,718,000 | ) |  |  | (1,610,000 | ) |  |  | (4,060,000 | )
Equity in undistributed net income of subsidiary |  |  | 33,449,000 |  |  |  | 14,005,000 |  |  |  | 17,158,000 |
Net income |  | $ | 49,456,000 |  |  | $ | 42,024,000 |  |  | $ | 31,274,000 |
Comprehensive income |  | $ | 61,390,000 |  |  | $ | 38,646,000 |  |  | $ | 32,821,000 |
Condensed Cash Flow Statement [Table Text Block] |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 49,456,000 |  |  | $ | 42,024,000 |  |  | $ | 31,274,000 |
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiary |  |  | (33,449,000 | ) |  |  | (14,005,000 | ) |  |  | (17,158,000 | )
Stock-based compensation expense |  |  | 2,931,000 |  |  |  | 2,410,000 |  |  |  | 1,981,000 |
Stock grants to directors for retainer fees |  |  | 375,000 |  |  |  | 441,000 |  |  |  | 363,000 |
Change in other assets |  |  | 2,387,000 |  |  |  | 1,384,000 |  |  |  | (230,000 | )
Change in other liabilities |  |  | (1,924,000 | ) |  |  | (187,000 | ) |  |  | (677,000 | )
Net cash from operating activities |  |  | 19,776,000 |  |  |  | 32,067,000 |  |  |  | 15,553,000 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Net capital investment into subsidiaries |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Net cash for investing activities |  |  | 0 |  |  |  | 0 |  |  |  | 0 |
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Stock option exercises, net of cashless exercises |  |  | 128,000 |  |  |  | 108,000 |  |  |  | 318,000 |
Employee stock purchase plan |  |  | 50,000 |  |  |  | 52,000 |  |  |  | 46,000 |
Dividend reinvestment plan |  |  | 729,000 |  |  |  | 1,165,000 |  |  |  | 1,576,000 |
Repurchase of common shares |  |  | (7,183,000 | ) |  |  | (5,943,000 | ) |  |  | 0 |
Cash dividends on common stock |  |  | (17,108,000 | ) |  |  | (27,500,000 | ) |  |  | (12,046,000 | )
Net cash for financing activities |  |  | (23,384,000 | ) |  |  | (32,118,000 | ) |  |  | (10,106,000 | )
Net change in cash and cash equivalents |  |  | (3,608,000 | ) |  |  | (51,000 | ) |  |  | 5,447,000 |
Cash and cash equivalents at beginning of period |  |  | 9,653,000 |  |  |  | 9,704,000 |  |  |  | 4,257,000 |
Cash and cash equivalents at end of period |  | $ | 6,045,000 |  |  | $ | 9,653,000 |  |  | $ | 9,704,000 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration