MERCANTILE BANK CORPORATION MBWM Cash Flow

Mercantile bank corporation (MBWM)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities
Net income
48,305	49,456	47,713	45,236	42,967	42,024	38,429	36,643	34,540	31,274	31,380	30,888	30,979	31,913	30,308	29,799	28,923	27,020	26,833	25,446	20,397	17,331	16,201	13,706	16,213	17,033	14,918	14,080	14,055	12,535	39,810	40,218	38,945	37,485	0	0	0
Adjustments to reconcile net income to net cash from operating activities
Depreciation and amortization
8,357	9,553	9,418	9,561	9,461	9,766	9,883	9,934	10,293	10,358	10,666	10,653	9,357	9,576	9,788	10,341	11,588	11,654	11,475	11,234	9,934	7,613	5,313	3,089	2,167	2,208	2,198	2,236	2,281	2,238	2,175	2,139	2,135	2,200	0	0	0
Accretion of acquired loans
653	686	838	819	1,162	1,373	1,528	2,187	2,212	2,338	3,539	3,693	4,092	4,925	4,327	4,679	5,238	5,338	5,771	5,592	4,610	3,194	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Provision for loan losses
1,650	1,750	2,450	2,150	1,950	1,100	1,700	2,300	2,350	2,950	2,950	2,550	2,900	2,900	2,800	1,700	0	-1,000	-1,500	-1,400	-1,500	-3,000	-5,500	-6,800	-7,600	-7,200	-4,400	-3,100	-4,600	-3,100	-1,500	0	4,700	6,900	0	0	0
Stock-based compensation expense
2,812	2,931	2,846	2,762	2,557	2,410	2,313	2,182	2,102	1,981	1,989	1,778	1,605	1,459	1,060	941	802	684	875	722	808	714	483	588	473	473	394	281	168	54	9	26	43	61	0	0	0
Stock grants to directors for retainer fee
-	-	-	-	-	-	-	-	-	363	363	363	329	327	328	328	280	403	402	402	278	155	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of mortgage loans held for sale
308,039	261,021	186,926	124,419	101,745	101,146	107,219	106,993	113,004	111,311	112,685	117,220	114,609	114,757	109,712	109,586	116,375	120,880	120,784	108,199	86,942	67,422	48,830	39,033	39,563	51,373	70,269	80,508	83,542	83,713	78,555	66,854	57,653	50,925	0	0	0
Origination of mortgage loans held for sale
321,381	256,767	192,050	121,777	98,186	96,179	101,077	104,373	109,100	108,857	109,348	112,056	111,970	110,778	107,737	106,859	110,024	116,997	117,171	105,720	85,536	65,392	47,655	36,463	37,907	48,321	62,786	79,620	82,313	83,986	81,193	68,632	59,758	50,195	0	0	0
Net gain from sales of mortgage loans held for sale
9,499	8,108	5,865	4,078	3,505	3,536	3,800	3,815	3,841	3,972	4,111	4,153	4,023	3,699	3,258	3,210	3,466	3,626	3,521	2,948	2,276	1,625	1,043	646	508	658	944	1,159	1,196	1,247	1,196	974	843	681	0	0	0
Gain on trust preferred securities repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	2,970	2,970	2,970	2,970	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain from sales and valuation write-downs of foreclosed assets
276	254	96	74	91	169	325	343	381	319	397	300	438	520	280	313	186	62	1,719	1,570	1,171	894	1,888	1,875	1,837	1,585	2,518	-282	1,039	1,725	-4,961	-1,814	-2,242	-1,826	0	0	0
Net gain from sales and valuation write-downs of former bank premises
-95	436	559	558	735	78	68	68	-217	-133	-168	-168	-89	-35	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net loss from sales and write-downs of fixed assets
-348	-294	-42	-80	-81	-134	-101	-69	-84	-71	-67	-60	-74	-174	-251	-236	-215	-55	-3	-15	-5	-25	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net gain from sales of available for sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-1	11	11	11	17	5	5	5	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Earnings on bank owned life insurance
2,592	3,886	3,885	3,873	2,586	1,287	1,306	1,317	1,324	2,731	2,725	2,746	2,716	1,264	1,226	1,149	1,112	1,113	1,124	1,151	1,181	1,184	1,184	1,222	1,281	1,329	1,383	1,424	1,459	1,528	1,607	1,681	1,745	1,777	0	0	0
Net change in:
Accrued interest receivable
-1,636	48	518	1,170	1,770	1,126	869	1,267	1,048	1,056	1,054	725	340	-122	228	-35	-26	321	63	111	512	11	141	-323	-38	-225	-162	-235	-528	-529	-948	-1,115	-1,458	-1,539	0	0	0
Other assets
8,512	7,636	6,612	842	180	2,193	1,111	1,012	899	354	1,081	2,499	1,701	648	4,638	4,747	5,233	4,815	120	-3,285	-2,334	-1,795	4,802	5,143	-6,917	-8,465	-9,008	-10,124	275	1,805	-2,810	-1,881	-2,013	-2,771	0	0	0
Accrued interest and other liabilities
3,814	-2,818	7,965	3,244	522	11,029	-2,000	-633	-1,201	-943	41	-2,186	-1,344	-1,046	-1,378	3,276	3,923	4,185	-3,807	-15,810	-7,281	-9,822	-579	8,158	1,110	-94	-161	-2,001	-10	2,267	292	30	-897	-1,187	0	0	0
Net cash from/(for) operating activities
32,544	44,767	46,978	54,301	51,137	61,737	48,794	44,319	43,739	38,665	37,206	34,494	32,506	34,602	32,596	36,706	38,265	36,004	31,519	20,712	21,684	14,439	15,201	21,063	25,944	28,682	31,795	25,514	17,396	17,031	14,067	15,453	17,753	22,506	0	0	0
Loan originations and payments, net
78,690	99,620	223,798	242,063	246,653	193,556	143,878	106,446	109,415	178,373	145,821	146,390	140,972	97,282	185,668	205,809	179,719	188,932	148,209	97,597	105,138	90,853	48,100	70,520	43,016	15,298	48,278	3,637	-23,065	-16,237	-40,402	-43,129	-124,664	-162,928	0	0	0
Purchases of securities available for sale
158,671	62,084	66,288	41,724	37,776	48,664	52,480	74,077	65,629	67,027	84,198	127,535	161,164	164,336	132,793	66,650	26,718	10,645	13,761	13,063	10,002	19,874	26,699	32,518	46,500	49,812	61,475	76,936	66,955	69,956	71,736	48,816	44,818	28,835	0	0	0
Proceeds from maturities, calls and repayments of securities available for sale
197,826	79,478	68,990	41,497	41,861	40,308	38,262	43,216	46,255	52,504	65,569	120,658	160,694	172,173	174,377	118,610	93,839	93,873	101,712	115,215	93,844	75,880	49,676	29,071	26,902	34,809	51,670	64,373	74,868	102,672	108,140	122,514	105,814	80,739	0	0	0
Proceeds from sales of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	264	1,082	1,082	1,082	1,483	665	665	665	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of Federal Home Loan Bank stock
0	1,980	6,930	6,966	6,966	4,986	36	0	1,800	3,010	3,010	3,010	1,669	459	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sales of foreclosed assets
725	790	807	591	533	772	818	1,149	1,304	993	1,373	983	1,629	2,059	2,994	3,207	2,742	2,967	2,674	3,618	4,404	4,427	4,577	4,179	6,036	7,898	12,100	12,511	11,273	18,348	15,894	17,685	18,589	11,062	0	0	0
Proceeds from sales of former bank premises
162	854	854	854	2,818	1,964	0	0	0	-	-	-	-	45	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from bank owned life insurance cash value release and death benefits
3,712	7,708	7,708	7,708	3,996	0	0	0	0	2,720	2,720	2,720	2,720	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of bank owned life insurance
2,000	4,500	2,500	2,500	2,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net purchases of premises and equipment
13,911	13,484	10,343	8,580	7,621	6,318	6,315	6,359	5,714	5,423	5,166	3,879	3,207	2,025	1,200	799	749	1,081	1,940	1,890	2,152	2,175	1,243	1,066	557	326	406	568	581	571	749	601	570	556	0	0	0
Net cash for investing activities
-50,847	-92,838	-231,500	-251,183	-252,308	-210,480	-162,249	-135,325	-128,855	-191,472	-161,805	-155,538	-148,969	-96,561	-148,622	-157,772	-103,346	-96,203	-47,200	18,607	78,954	64,738	70,017	27,357	-46,825	-12,419	-36,079	-352	41,670	66,730	91,951	133,911	206,063	227,722	0	0	0
Cash flows from financing activities
Net increase (decrease) in time deposits
-56,421	170,921	216,518	188,154	143,853	-30,091	-56,947	-32,371	-9,048	-55,839	-88,143	-69,158	-51,293	-20,854	-10,333	-80,195	-131,413	-147,106	-136,914	-127,862	-85,242	-58,927	-50,130	13,054	5,936	-23,038	-17,317	-75,525	-66,265	-47,257	-121,226	-150,246	-195,183	-210,617	0	0	0
Net increase (decrease) in all other deposits
90,863	55,755	41,763	-98,756	-72,932	-28,566	76,714	191,461	271,085	203,219	247,749	160,161	64,187	120,457	85,641	81,315	117,794	146,944	121,293	105,941	28,865	-11,307	-28,496	-717	9,525	6,745	31,260	31,210	65,621	70,386	43,459	7,944	34,973	48,860	0	0	0
Net increase in securities sold under agreements to repurchase
22,035	-844	-8,388	25,096	6,341	-15,229	-9,902	-16,347	-21,785	-12,962	-24,563	-25,770	-35,633	-23,061	-11,306	-15,391	14,093	-12,798	15,280	27,973	30,570	43,780	22,705	12,296	-5,579	4,540	5,649	4,497	11,304	-7,804	-9,309	-18,376	-23,381	-44,410	0	0	0
Maturities of Federal Home Loan Bank advances
30,000	40,000	30,000	20,000	40,000	30,000	30,000	55,000	35,000	45,000	48,000	23,000	13,000	3,000	0	0	0	6,000	9,000	9,000	9,000	3,000	0	0	0	-	-	-	-	30,000	30,000	30,000	30,000	20,000	0	0	0
Proceeds from Federal Home Loan Bank advances
40,000	44,000	154,000	164,000	204,000	160,000	50,000	40,000	50,000	90,000	90,000	90,000	120,000	110,000	110,000	130,000	50,000	20,000	0	0	0	-	-	-	-	-	-	-	-	20,000	20,000	20,000	10,000	0	0	0	0
Net increase in other borrowed money
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-281	-298	-319	-370	0	0	0
Proceeds from stock option exercises
126	128	58	69	56	108	95	125	124	318	661	847	1,176	978	1,216	995	809	891	334	482	414	282	0	0	0	-	-	-	-	227	171	19	51	55	0	0	0
Employee stock purchase plan
50	50	51	52	52	52	50	49	48	46	45	41	40	36	38	39	42	44	46	46	33	23	10	0	10	19	29	38	39	39	41	42	40	42	0	0	0
Dividend reinvestment plan
739	729	1,206	1,198	1,183	1,165	650	618	595	1,576	1,948	1,978	2,335	1,601	1,278	1,281	926	655	575	492	349	209	90	0	17	33	47	47	30	14	0	0	0	-	-	-	-
Repurchases of common stock
9,864	7,183	13,053	9,544	9,544	5,943	0	0	0	-	-	-	-	3,732	4,271	10,384	17,036	15,762	15,223	9,110	1,984	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Repurchase of trust preferred securities
-	-	-	-	-	-	-	-	-	-	-	-	-	8,030	8,030	8,030	8,030	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of cash dividends on preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	496	2,116	1,982	1,883	1,620	0	0	0
Payment of cash dividends to common shareholders
17,400	17,108	29,112	28,702	28,101	27,500	14,239	13,398	12,722	12,046	19,777	19,429	19,080	18,731	10,326	10,012	9,713	9,516	9,113	8,703	25,800	24,464	23,474	22,492	4,066	3,889	3,625	2,588	1,638	774	0	0	0	-	-	-	-
Net cash from financing activities
40,128	206,448	333,043	221,567	204,908	23,996	16,421	115,137	243,297	169,312	159,920	115,670	68,258	155,664	153,907	89,618	17,472	-22,648	-12,722	-19,741	-61,795	-53,404	-78,884	12,456	16,051	-5,301	26,207	-49,651	-29,297	-24,130	-127,726	-193,897	-215,696	-238,054	0	0	0
Net change in cash and cash equivalents
21,825	158,377	148,521	24,685	3,737	-124,747	-97,034	24,131	158,181	16,505	35,321	-5,374	-48,205	93,705	0	0	0	-	-	-	38,843	25,773	6,334	60,876	-4,830	10,962	21,923	-24,489	29,769	59,631	-21,708	-44,533	8,120	12,174	0	0	0
Supplemental disclosures of cash flows information
Interest
33,875	32,103	29,664	26,583	23,558	21,569	19,670	18,328	16,675	15,468	14,323	13,543	12,736	12,477	12,211	12,070	11,778	11,618	11,490	11,667	11,208	11,439	10,854	10,327	10,854	11,059	11,363	12,104	12,660	13,741	17,396	18,693	20,105	21,742	0	0	0
Federal income tax
11,975	11,975	11,525	10,900	10,075	10,075	11,375	12,150	14,225	14,225	14,450	15,950	14,875	15,125	13,250	9,000	7,300	8,000	6,750	6,925	3,575	2,625	1,575	1,400	0	0	0	0	0	0	0	0	0	0	0	0	0
Noncash financing and investing activities:
Transfers from loans to foreclosed assets
323	337	301	417	537	744	718	825	1,022	887	956	737	287	414	896	1,341	2,005	2,203	2,010	2,413	1,912	1,490	1,218	659	547	2,194	3,373	4,600	5,312	11,761	12,092	12,595	17,621	11,495	0	0	0
Transfers from bank premises to other real estate owned
258	258	0	0	0	296	295	1,933	2,032	1,736	1,747	109	10	381	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock cash dividend accrued
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-669	134	0	0	0