Peer Analysis
Performance Ratios (%) MBWM Peer Median Peer Average
ROAA 1.39 1.43 1.45
ROAE 12.52 11.38 12.06
Net Interest Margin 3.74 3.60 3.62
Efficiency Ratio 59.15 55.50 53.56
Loans / Deposits NA 92.52 90.88
Asset Quality Ratios (%)
NPAs / Assets NA 0.50 0.51
NCOs / Avg Loans 0.01 0.06 0.06
Reserves / Loans 0.84 0.80 1.03
Reserves / NPAs NA 104.62 126.46
Capital Ratios (%)
Tier 1 Capital 12.36 13.52 13.47
Tangible Equity / Tangible Assets 10.15 10.51 10.55
Total Equity / Total Assets 11.47 12.59 12.65
Market Ratios
Price / Earnings (x) 10.93 13.78 13.42
Price / Book (%) 129.73 155.99 151.78
Dividend Yield (%) 3.40 2.56 2.67
Data for trailing four quarters

Mercantile Bank Corporation's peer group consists of the following: 1st Source Corporation (SRCE), First Busey Corporation (BUSE), German American Bancorp, Inc. (GABC), Horizon Bancorp, Inc. (HBNC), Independent Bank Corp. (INDB), Lakeland Financial Corporation (LKFN), Macatawa Bank Corporation (MCBC)

Mercantile Bank Corporation's financial data is as of 12/31/2019.

Peer financial data is as of 12/31/2019