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Note 19 - Subordinated Debentures (Tables) | 12 Months Ended
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Dec. 31, 2020
Notes Tables |
Schedule of Subordinated Borrowing [Table Text Block] |
|  | Preferred Securities |  |  |  |
Trust Name |  | Outstanding |  | Interest Rate |  | Maturity Date
Mercantile Bank Capital Trust I |  | $ | 21,000,000 |  | 3 Month Libor + 218 bps |  | September 16, 2034
Firstbank Capital Trust I |  | $ | 10,000,000 |  | 3 Month Libor + 199 bps |  | October 18, 2034
Firstbank Capital Trust II |  | $ | 10,000,000 |  | 3 Month Libor + 127 bps |  | April 7, 2036
Firstbank Capital Trust III |  | $ | 7,500,000 |  | 3 Month Libor + 135 bps |  | July 30, 2037
Firstbank Capital Trust IV |  | $ | 7,500,000 |  | 3 Month Libor + 135 bps |  | July 30, 2037

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- Definition Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822 + Details
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