Mercantile Bank (MBWM) Income Statement

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Loans, including fees	27.55M
Securities, taxable	1.49M
Securities, tax-exempt	545K
Federal funds sold
Interest-bearing deposit balances	120K
Total interest income	29.71M
Deposits	1.92M
Short-term borrowings	62K
Federal Home Loan Bank advances	670K
Other borrowings
Total interest expense	3.26M
Net interest income	26.45M
Provision for loan losses	600K
Net interest income after provision for loan losses	25.85M
Services charges on accounts	1.14M
Earnings on bank owned life insurance	349K
Rental income from other real estate owned
Mortgage banking activities	1.24M
Net gain on sales of securities
Gain on sales of commercial loans
Other income	1.47M
Total noninterest income	5.28M
Salaries and benefits	11.16M
Occupancy	1.52M
Furniture and equipment depreciation, rent and maintenance	531K
Nonperforming asset costs
FDIC insurance costs	351K
Other expense	4.12M
Total noninterest expenses	19.66M
Income (loss) before federal income tax expense (benefit)	11.47M
Federal income tax expense (benefit)	3.63M
Net income (loss)	7.85M
Preferred stock dividends and accretion
Net income (loss) available to common shareholders
Basic earnings (loss) per share	0.48
Diluted earnings (loss) per share	0.48
Cash dividends per share	0.17
Average basic shares outstanding	16.28M
Average diluted shares outstanding	16.31M

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