MERCANTILE BANK CORP
For the period ended Sep 30, 2026. Filed Oct 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 30, 2026
MBWM$61.63+1.8%Stored close · as of Nov 9, 2026
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Item 1. Financial Statements
CONSOLIDATED BALANCE SHEETS
| (Unaudited) | ||
|---|---|---|
| September 30, | December 31, | |
| (Dollars in thousands) | 2026 | 2025 |
| ASSETS | ||
| Cash and due from banks | $56,105 | $54,755 |
| Interest-earning deposits and Federal Funds sold | 572,393 | 418,569 |
| Total cash and cash equivalents | 628,498 | 473,324 |
| Securities available for sale | 1,098,016 | 1,102,230 |
| Mortgage loans held for sale | 22,439 | 17,160 |
| Loans | 4,952,942 | 4,821,888 |
| Allowance for credit losses | (56,415) | (58,191) |
| Loans, net | 4,896,527 | 4,763,697 |
| Premises and equipment, net | 60,799 | 62,468 |
| Bank owned life insurance | 117,407 | 105,342 |
| Goodwill | 73,689 | 72,656 |
| Core deposit intangible | 16,442 | 20,388 |
| Other assets | 249,051 | 217,954 |
| Total assets | $7,162,868 | $6,835,219 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Deposits | ||
| Noninterest-bearing | $1,446,357 | $1,339,666 |
| Interest-bearing | 4,165,919 | 3,944,786 |
| Total deposits | 5,612,276 | 5,284,452 |
| Securities sold under agreements to repurchase | 197,453 | 232,291 |
| Federal Home Loan Bank advances | 305,322 | 326,221 |
| Subordinated debentures | 51,529 | 51,015 |
| Subordinated notes | 89,914 | 89,657 |
| Term note | 22,500 | 30,000 |
| Accrued interest and other liabilities | 140,039 | 96,699 |
| Total liabilities | 6,419,033 | 6,110,335 |
| Commitments and contingent liabilities (Note 9) | ||
| Shareholders' equity | ||
| Preferred stock, no par value; 1,000,000 shares authorized; none issued | 0 | 0 |
| Common stock, no par value; 40,000,000 shares authorized; 17,288,352 shares issued and outstanding at September 30, 2026, and 17,181,096 shares issued and outstanding at December 31, 2025 | 353,553 | 349,431 |
| Retained earnings | 452,046 | 399,448 |
| Accumulated other comprehensive income (loss) | (61,764) | (23,995) |
| Total shareholders’ equity | 743,835 | 724,884 |
| Total liabilities and shareholders’ equity | $7,162,868 | $6,835,219 |
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