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Note 22 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2022
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
|  | 2022 |  |  | 2021 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 18,633,000 |  |  | $ | 14,570,000 |
Investment in bank subsidiary |  |  | 543,599,000 |  |  |  | 545,691,000 |
Other assets |  |  | 19,786,000 |  |  |  | 19,576,000 |
Total assets |  | $ | 582,018,000 |  |  | $ | 579,837,000 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Liabilities |  | $ | 3,024,000 |  |  | $ | 1,388,000 |
Subordinated debentures |  |  | 48,958,000 |  |  |  | 48,244,000 |
Subordinated notes |  |  | 88,628,000 |  |  |  | 73,646,000 |
Shareholders’ equity |  |  | 441,408,000 |  |  |  | 456,559,000 |
Total liabilities and shareholders’ equity |  | $ | 582,018,000 |  |  | $ | 579,837,000 |
Condensed Income Statement [Table Text Block] |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividends from subsidiaries |  | $ | 26,056,000 |  |  | $ | 39,058,000 |  |  | $ | 32,588,000 |
Total income |  |  | 26,056,000 |  |  |  | 39,058,000 |  |  |  | 32,588,000 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 6,104,000 |  |  |  | 1,934,000 |  |  |  | 2,268,000 |
Other operating expenses |  |  | 5,645,000 |  |  |  | 5,831,000 |  |  |  | 4,441,000 |
Total expenses |  |  | 11,749,000 |  |  |  | 7,765,000 |  |  |  | 6,709,000 |
Income before income tax benefit and equity in undistributed net income of subsidiary |  |  | 14,307,000 |  |  |  | 31,293,000 |  |  |  | 25,879,000 |
Federal income tax benefit |  |  | (2,535,000 | ) |  |  | (1,653,000 | ) |  |  | (1,173,000 | )
Equity in undistributed net income of subsidiary |  |  | 44,221,000 |  |  |  | 26,075,000 |  |  |  | 17,086,000 |
Net income |  | $ | 61,063,000 |  |  | $ | 59,021,000 |  |  | $ | 44,138,000 |
Comprehensive income (loss) |  | $ | (549,000 | ) |  | $ | 49,806,000 |  |  | $ | 45,929,000 |
Condensed Cash Flow Statement [Table Text Block] |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 61,063,000 |  |  | $ | 59,021,000 |  |  | $ | 44,138,000 |
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiary |  |  | (44,221,000 | ) |  |  | (26,075,000 | ) |  |  | (17,086,000 | )
Stock-based compensation expense |  |  | 3,377,000 |  |  |  | 3,784,000 |  |  |  | 2,325,000 |
Stock grants to directors for retainer fees |  |  | 359,000 |  |  |  | 344,000 |  |  |  | 394,000 |
Change in other assets |  |  | 858,000 |  |  |  | 49,000 |  |  |  | (227,000 | )
Change in other liabilities |  |  | 1,636,000 |  |  |  | (5,000 | ) |  |  | 812,000 |
Net cash from operating activities |  |  | 23,072,000 |  |  |  | 37,118,000 |  |  |  | 30,356,000 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Net capital investment into subsidiaries |  |  | (15,000,000 | ) |  |  | (70,000,000 | ) |  |  | 0 |
Net cash for investing activities |  |  | (15,000,000 | ) |  |  | (70,000,000 | ) |  |  | 0 |
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Stock option exercises, net of cashless exercises |  |  | 36,000 |  |  |  | 50,000 |  |  |  | 3,000 |
Employee stock purchase plan |  |  | 45,000 |  |  |  | 48,000 |  |  |  | 49,000 |
Dividend reinvestment plan |  |  | 867,000 |  |  |  | 877,000 |  |  |  | 814,000 |
Net proceeds from subordinated notes issuance |  |  | 14,645,000 |  |  |  | 73,635,000 |  |  |  | 0 |
Repurchase of common shares |  |  | 0 |  |  |  | (21,380,000 | ) |  |  | (6,591,000 | )
Cash dividends on common stock |  |  | (19,602,000 | ) |  |  | (18,524,000 | ) |  |  | (17,930,000 | )
Net cash (for) from financing activities |  |  | (4,009,000 | ) |  |  | 34,706,000 |  |  |  | (23,655,000 | )
Net change in cash and cash equivalents |  |  | 4,063,000 |  |  |  | 1,824,000 |  |  |  | 6,701,000 |
Cash and cash equivalents at beginning of period |  |  | 14,570,000 |  |  |  | 12,746,000 |  |  |  | 6,045,000 |
Cash and cash equivalents at end of period |  | $ | 18,633,000 |  |  | $ | 14,570,000 |  |  | $ | 12,746,000 |

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