Mercantile bank corporation (MBWM)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Interest income
Loans, including fees

145,816

131,763

116,816

109,049

104,106

80,824

52,924

53,898

62,356

77,791

93,903

Securities, taxable

7,919

6,736

5,326

6,842

5,918

6,417

4,134

4,383

6,685

7,846

7,498

Securities, tax-exempt

2,231

2,239

2,305

2,165

2,089

1,643

951

1,415

1,805

2,291

3,351

Federal funds sold

-

-

-

-

-

-

-

192

199

176

136

Other interest-earning assets

2,371

1,243

1,096

401

215

234

233

29

24

39

21

Total interest income

158,337

141,981

125,543

118,457

112,328

89,118

58,242

59,917

71,069

88,143

104,909

Interest expense
Deposits

21,264

13,869

9,362

7,549

7,590

8,378

8,912

11,137

16,384

23,529

41,269

Short-term borrowings

295

273

190

211

157

122

80

157

405

1,410

1,845

Federal Home Loan Bank advances

8,977

4,647

3,657

2,263

765

636

533

993

2,033

5,509

8,808

Subordinated debentures and other borrowings

3,267

3,110

2,586

2,567

2,642

2,204

1,261

929

1,010

1,346

1,654

Total interest expense

33,803

21,899

15,795

12,590

11,154

11,340

10,786

13,216

19,832

31,794

53,576

Net interest income

124,534

120,082

109,748

105,867

101,174

77,778

47,456

46,701

51,237

56,349

51,333

Provision for loan losses

1,750

1,100

2,950

2,900

-1,000

-3,000

-7,200

-3,100

6,900

31,800

59,000

Net interest income after provision for loan losses

122,784

118,982

106,798

102,967

102,174

80,778

54,656

49,801

44,337

24,549

-7,667

Noninterest income:
Mortgage banking income

8,485

4,109

4,421

3,866

3,619

1,672

800

1,479

846

1,092

1,202

Payroll services

1,626

1,462

1,305

1,016

969

782

660

591

515

494

504

Earnings on bank owned life insurance

3,886

1,287

2,731

1,264

1,113

1,184

1,329

1,528

1,777

1,718

1,444

Letter of credit fees

278

245

348

493

457

335

370

336

300

460

541

Gain on trust preferred securities repurchase

-

-

-

2,970

0

0

-

-

-

-

-

Rental income from other real estate owned

-

-

-

-

-

-

528

1,061

825

1,488

438

Net gain on sale of securities

-

-

-

-

-

-

-

-

-

476

0

Gain on sale of commercial loans

-

-

-

-

-

-

-

-

-

324

0

Other income

2,172

2,195

1,203

2,898

2,243

975

590

585

554

668

736

Total noninterest income

26,956

19,010

19,001

21,038

16,038

10,028

6,872

7,994

7,282

9,244

7,558

Noninterest expense
Salaries and benefits

53,833

50,910

45,397

43,524

42,594

33,703

20,298

19,367

17,891

18,297

20,331

Occupancy

7,061

6,711

6,186

6,063

5,976

4,637

2,547

2,501

2,780

2,838

3,377

Furniture and equipment depreciation, rent and maintenance

2,583

2,470

2,168

2,119

2,332

1,738

984

1,176

1,206

1,481

1,871

Data processing costs

9,235

8,557

8,222

7,939

7,696

5,869

3,440

3,193

2,719

2,598

2,526

Advertising

1,446

1,648

1,608

1,586

1,363

1,315

1,113

1,167

747

906

650

Nonperforming asset costs

-

-

-

-

-

-

-

-

-

10,858

7,294

FDIC insurance costs

225

930

960

1,236

1,717

1,182

793

1,200

2,843

4,370

4,852

Problem asset costs

140

90

355

338

1,212

585

595

5,862

8,290

-

-

Efficiency program-related costs

-

-

-

172

765

0

0

-

-

-

-

Merger-related costs

-

-

-

-

-

5,447

1,246

0

0

-

-

FHLB advance prepayment fees

-

-

-

-

-

-

-

-

213

1,021

0

Branch consolidation costs

-

-

-

-

-

-

-

-

-

-

1,308

Other expense

14,757

14,854

14,820

14,141

15,726

11,134

5,387

5,158

4,806

4,787

4,279

Total noninterest expenses

89,280

86,170

79,716

77,118

79,381

65,610

36,403

39,624

41,495

47,156

46,488

Income before federal income tax expense

60,460

51,822

46,083

46,887

38,831

25,196

25,125

18,171

10,124

-13,363

-46,597

Federal income tax expense

11,004

9,798

14,809

14,974

11,811

7,865

8,092

5,636

-27,361

-47

5,490

Net income

49,456

42,024

31,274

31,913

27,020

17,331

17,033

12,535

37,485

-13,316

-52,087

Earnings per common share:
Preferred stock dividends and accretion

-

-

-

-

-

-

-

1,030

1,343

1,295

802

Net income attributable to common shares

-

-

-

-

-

-

-

11,505

36,142

-14,611

-52,889

Basic earnings per share (in dollars per share)

3.01

2.53

1.90

1.96

1.63

1.28

1.96

1.33

4.20

-1.72

-6.23

Diluted earnings per share (in dollars per share)

3.01

2.53

1.90

1.96

1.62

1.28

1.95

1.30

4.07

-1.72

-6.23

Deposit Account [Member]
Noninterest income

4,584

4,358

4,233

4,253

3,308

2,586

1,532

1,523

1,640

1,797

2,023

Credit and Debit Card [Member]
Noninterest income

5,925

5,354

4,760

4,278

4,329

2,494

1,063

891

825

727

670