MERCANTILE BANK CORPORATION
Balance Sheet
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & Equivalents | $54.8M | $57.0M | $70.4M | $61.9M | $59.4M | $62.8M | $53.3M | $64.9M |
| Accounts Receivable | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| Total Current Assets | — | — | — | — | — | — | — | — |
| Property, Plant & Equipment | $62.5M | $53.4M | $50.9M | $51.5M | $57.3M | $59.0M | $57.3M | $48.3M |
| Goodwill | $72.7M | $49.5M | $49.5M | $49.5M | $49.5M | $49.5M | $49.5M | $49.5M |
| Intangible Assets (Excl. Goodwill) | $20.4M | $0 | — | $583.0K | $1.4M | $2.4M | $3.8M | $5.6M |
| Total Assets | $6.84B | $6.05B | $5.35B | $4.87B | $5.26B | $4.44B | $3.63B | $3.36B |
| Liabilities | ||||||||
| Accounts Payable | — | — | — | — | — | — | — | — |
| Total Current Liabilities | — | — | — | — | — | — | — | — |
| Long-Term Debt | — | — | — | — | — | — | — | — |
| Total Liabilities | $6.11B | $5.47B | $4.83B | $4.43B | $4.80B | $4.00B | $3.22B | $2.99B |
| Stockholders' Equity | ||||||||
| Retained Earnings | $399.4M | $334.6M | $277.5M | $216.3M | $174.5M | $134.0M | $107.8M | $75.5M |
| Total Stockholders' Equity | $724.9M | $584.5M | $522.1M | $441.4M | $456.6M | $441.6M | $416.6M | $375.2M |