Call reports 2024
MERCANTILE BANK — 2024
What MERCANTILE BANK reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 5,423,219,000 | 5,548,093,000 | 5,862,869,000 | 5,994,362,000 |
| Total loans | 4,336,399,000 | 4,460,371,000 | 4,582,278,000 | 4,616,604,000 |
| Allowance for loan losses | 51,638,000 | 55,408,000 | 56,590,000 | 54,454,000 |
| Securities available for sale | 609,152,000 | 647,907,000 | 703,375,000 | 730,352,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 4,023,068,000 | 4,163,519,000 | 4,472,580,000 | 4,715,880,000 |
| Interest-bearing deposits | 2,886,637,000 | 3,042,119,000 | 3,288,872,000 | 3,449,878,000 |
| Noninterest-bearing deposits | 1,136,431,000 | 1,121,400,000 | 1,183,708,000 | 1,266,002,000 |
| Equity capital | 639,419,000 | 653,446,000 | 685,690,000 | 686,083,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 76,724,000 | 155,603,000 | 239,016,000 | 321,501,000 |
| Interest expense | 27,478,000 | 57,402,000 | 90,643,000 | 122,943,000 |
| Net interest income | 49,246,000 | 98,201,000 | 148,373,000 | 198,558,000 |
| Noninterest income | 10,857,000 | 20,510,000 | 30,090,000 | 40,264,000 |
| Noninterest expense | 28,441,000 | 57,151,000 | 87,779,000 | 120,011,000 |
| Provision for loan losses | 1,300,000 | 4,800,000 | 5,900,000 | 7,400,000 |
| Pretax income | 30,346,000 | 57,316,000 | 85,309,000 | 111,731,000 |
| Income tax | 6,069,000 | 11,463,000 | 17,062,000 | 22,102,000 |
| Net income | 24,277,000 | 45,853,000 | 68,247,000 | 89,629,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 660,223,000 | 674,519,000 | 689,634,000 | 703,737,000 |
| Total capital | 712,688,000 | 730,638,000 | 747,020,000 | 759,146,000 |
| Risk-weighted assets | 5,166,678,000 | 5,270,927,000 | 5,377,289,000 | 5,447,390,000 |