Mercantile Bank Corporation

Mercantile Bank Corporation, incorporated on July 15, 1997, is a bank holding company. The Company owns the Mercantile Bank of Michigan (the Bank). The Bank is a state banking company. The Bank provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. The Bank makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. The Bank also enables customers to conduct certain loan and deposit transactions by personal computer and through mobile applications. Courier service is provided to certain commercial customers, and safe deposit facilities are available at its office locations. Lending Activities The Bank’s commercial lending group originates commercial loans and leases primarily in its market areas. Loans are originated for general business purposes, including working capital, accounts receivable financing, machinery and equipment acquisition, and commercial real estate financing, including new construction and land development. The Bank originates single-family residential real estate loans in its market areas, according to secondary market underwriting standards. Single-family residential real estate loans provide borrowers with a fixed or adjustable interest rate with terms up to approximately 30 years and are sold to certain investors. The Bank also has a home equity line of credit program. The Bank originates consumer loans for a range of personal financial needs, including new and used automobiles, boats, credit cards and overdraft protection for its checking account customers. As of December 31, 2016, the Bank’s total loans were $2.37 billion. Investment Activities The principal investments of the Company are the investments in the common stock of its Bank and the common securities of its trusts. Other funds of the Company may be invested from time to time in various debt instruments. The Bank may invest its funds in a range of debt instruments and may participate in the federal funds market with other depository institutions. Its investment portfolio consists of the United States Government agency debt obligations, mortgage-backed securities, municipal general obligations, municipal revenue bonds and other investments. As of December 31, 2016, its total investment securities were $328.06 million

Stock ExchangeCEL
CountryUnited Kingdom
World RegionEurope
CEOMr. David Stevens CBE
Registered Year1993

2017 2016 2015
  € m € m € m
Total interest income 126 118 112
Total Interest Expenses 16 13 11
Net Interest income 110 106 101
Total Net Revenue 129 127 117
Earnings per share
Basic 1.9 1.96 1.63
Diluted 1.9 1.96 1.62
Total current assets
Other assets 97,665 97,344 88,094
Total assets 3,286,704 3,082,571 2,903,556
Total current liabilities
Total liabilities 2,920,834 2,741,760 2,569,752
Total Equity 365,870 340,811 333,804
Net income
Net cash provided by operating activities 39 35 36
Net cash used for investment activities 191 97 96
Net cash provided by financing activities 169 156 23
Currency in EUR, All numbers in million.

United States
Canadian Lakes