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Note 21 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2023
Notes Tables |
Condensed Balance Sheet [Table Text Block] |
(Dollars in thousands) |  | 2023 |  |  | 2022 |
ASSETS |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 18,969 |  |  | $ | 18,633 |
Investments in bank subsidiaries |  |  | 627,604 |  |  |  | 543,599 |
Other assets |  |  | 17,228 |  |  |  | 19,786 |
Total assets |  | $ | 663,801 |  |  | $ | 582,018 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Liabilities |  | $ | 3,040 |  |  | $ | 3,024 |
Subordinated debentures |  |  | 49,644 |  |  |  | 48,958 |
Subordinated notes |  |  | 88,971 |  |  |  | 88,628 |
Shareholders’ equity |  |  | 522,146 |  |  |  | 441,408 |
Total liabilities and shareholders’ equity |  | $ | 663,801 |  |  | $ | 582,018 |
Condensed Income Statement [Table Text Block] |
(Dollars in thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Income |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividends from subsidiaries |  | $ | 26,660 |  |  | $ | 26,056 |  |  | $ | 39,058 |
Total income |  |  | 26,660 |  |  |  | 26,056 |  |  |  | 39,058 |
Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 8,091 |  |  |  | 6,104 |  |  |  | 1,934 |
Other operating expenses |  |  | 5,674 |  |  |  | 5,645 |  |  |  | 5,831 |
Total expenses |  |  | 13,765 |  |  |  | 11,749 |  |  |  | 7,765 |
Income before income tax benefit and equity in undistributed net income of subsidiary |  |  | 12,895 |  |  |  | 14,307 |  |  |  | 31,293 |
Federal income tax benefit |  |  | (2,858 | ) |  |  | (2,535 | ) |  |  | (1,653 | )
Equity in undistributed net income of subsidiary |  |  | 66,464 |  |  |  | 44,221 |  |  |  | 26,075 |
Net income |  | $ | 82,217 |  |  | $ | 61,063 |  |  | $ | 59,021 |
Other comprehensive income (loss) |  |  | 14,854 |  |  |  | (61,612 | ) |  |  | (9,215 | )
Comprehensive income (loss) |  | $ | 97,071 |  |  | $ | (549 | ) |  | $ | 49,806 |
Condensed Cash Flow Statement [Table Text Block] |
(Dollars in thousands) |  | 2023 |  | 2022 |  |  | 2021 |
Cash flows from operating activities |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 82,217 |  |  | $ | 61,063 |  |  | $ | 59,021 |
Adjustments to reconcile net income to net cash from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed net income of subsidiary |  |  | (66,464 | ) |  |  | (44,221 | ) |  |  | (26,075 | )
Stock-based compensation expense |  |  | 3,384 |  |  |  | 3,377 |  |  |  | 3,784 |
Stock grants to directors for retainer fees |  |  | 350 |  |  |  | 359 |  |  |  | 344 |
Change in other assets |  |  | (128 | ) |  |  | 858 |  |  |  | 49 |
Change in other liabilities |  |  | 1,045 |  |  |  | 1,636 |  |  |  | (5 | )
Net cash from operating activities |  |  | 20,404 |  |  |  | 23,072 |  |  |  | 37,118 |
Cash flows from investing activities |  |  |  |  |  |  |  |  |  |  |  |
Net capital investment into subsidiaries |  |  | 0 |  |  |  | (15,000 | ) |  |  | (70,000 | )
Net cash for investing activities |  |  | 0 |  |  |  | (15,000 | ) |  |  | (70,000 | )
Cash flows from financing activities |  |  |  |  |  |  |  |  |  |  |  |
Stock option exercises, net of cashless exercises |  |  | 0 |  |  |  | 36 |  |  |  | 50 |
Employee stock purchase plan |  |  | 45 |  |  |  | 45 |  |  |  | 48 |
Dividend reinvestment plan |  |  | 891 |  |  |  | 867 |  |  |  | 877 |
Net proceeds from subordinated notes issuance |  |  | 0 |  |  |  | 14,645 |  |  |  | 73,635 |
Repurchase of common shares |  |  | 0 |  |  |  | 0 |  |  |  | (21,380 | )
Cash dividends on common stock |  |  | (21,004 | ) |  |  | (19,602 | ) |  |  | (18,524 | )
Net cash (for) from financing activities |  |  | (20,068 | ) |  |  | (4,009 | ) |  |  | 34,706 |
Net change in cash and cash equivalents |  |  | 336 |  |  |  | 4,063 |  |  |  | 1,824 |
Cash and cash equivalents at beginning of period |  |  | 18,633 |  |  |  | 14,570 |  |  |  | 12,746 |
Cash and cash equivalents at end of period |  | $ | 18,969 |  |  | $ | 18,633 |  |  | $ | 14,570 |

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