MERCANTILE BANK CORP
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 27, 2026
MBWM$60.57+0.5%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Preferred | Common | Retained | Comprehensive | Shareholders’ | |
| (Dollars in thousands except per share amounts) | Stock | Stock | Earnings | Income/(Loss) | Equity |
| Balances, January 1, 2023 | $0 | $290,436 | $216,313 | $(65,341) | $441,408 |
| Employee stock purchase plan (1,410 shares) | 45 | 45 | |||
| Dividend reinvestment plan (27,306 shares) | 891 | 891 | |||
| Stock grants to directors for retainer fees (11,529 shares) | 350 | 350 | |||
| Stock-based compensation expense | 3,384 | 3,384 | |||
| Cash dividends ($1.34 per common share) | (21,004) | (21,004) | |||
| Net income for 2023 | 82,217 | 82,217 | |||
| Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 14,854 | 14,854 | |||
| Balances, December 31, 2023 | $0 | $295,106 | $277,526 | $(50,487) | $522,145 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Continued)
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Preferred | Common | Retained | Comprehensive | Shareholders’ | |
| (Dollars in thousands except per share amounts) | Stock | Stock | Earnings | Income/(Loss) | Equity |
| Balances, January 1, 2024 | $0 | $295,106 | $277,526 | $(50,487) | $522,145 |
| Employee stock purchase plan (1,194 shares) | 50 | 50 | |||
| Dividend reinvestment plan (19,684 shares) | 810 | 810 | |||
| Stock grants to directors for retainer fees (11,316 shares) | 423 | 423 | |||
| Stock-based compensation expense | 3,316 | 3,316 | |||
| Cash dividends ($1.40 per common share) | (22,473) | (22,473) | |||
| Net income for 2024 | 79,593 | 79,593 | |||
| Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 662 | 662 | |||
| Balances, December 31, 2024 | $0 | $299,705 | $334,646 | $(49,825) | $584,526 |
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Continued)
| Accumulated | |||||
|---|---|---|---|---|---|
| Other · Total | |||||
| Preferred | Common | Retained | Comprehensive | Shareholders’ | |
| (Dollars in thousands except per share amounts) | Stock | Stock | Earnings | Income/(Loss) | Equity |
| Balances, January 1, 2025 | $0 | $299,705 | $334,646 | $(49,825) | $584,526 |
| Employee stock purchase plan (2,954 shares) | 128 | 128 | |||
| Dividend reinvestment plan (16,848 shares) | 772 | 772 | |||
| Stock grants to directors for retainer fees (10,007 shares) | 444 | 444 | |||
| Stock-based compensation expense | 3,473 | 3,473 | |||
| Common stock issued to acquire Eastern Michigan Financial Corp. (924,999 shares) | 44,909 | 44,909 | |||
| Cash dividends ($1.50 per common share) | (23,951) | (23,951) | |||
| Net income for 2025 | 88,753 | 88,753 | |||
| Change in net unrealized gain/(loss) on securities available for sale, net of tax effect | 25,830 | 25,830 | |||
| Balances, December 31, 2025 | $0 | $349,431 | $399,448 | $(23,995) | $724,884 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.