Mercantile Bank Corporation (MBWM) Dividend Summary

Mercantile Bank Corporation serves businesses and consumers across Grand Rapids and Kent County with a full range of mortgage, lending, deposit and checking products and services in a friendly, hometown banking environment.

Last update 07/20/2010

Dividend Yield Summary

	2009	2008	2009	2010	2011	2012
Dividends	$0.04	$0.16	$0	$0	$0	$0
Price	$4.35	$7.88	$0	$0	$0	$0
Yield	0.92 %	2.03 %	0 %	0 %	0 %	0 %

Earnings Information

Next Report Date	10/13/2009
Estimated EPS (year)	$-1.82
Estimated EPS (quarter)	$-0.37
Estimated EPS Growth	6.00%
Payout Ratio	0.00%
Payout change vs. 5 year average	0.00%

Dividend/Split History

Date	Amount Per Share/Split Ratio	Type
2010-03-10	$0.01000	Dividend
2009-12-10	$0.01000	Dividend
2009-09-10	$0.01000	Dividend
2009-03-10	$0.04000	Dividend
2008-12-10	$0.04000	Dividend
2008-09-10	$0.04000	Dividend
2008-06-10	$0.08000	Dividend
2008-02-06	$0.15000	Dividend
2007-11-07	$0.14000	Dividend
2007-08-08	$0.14000	Dividend
2007-05-08	$0.14000	Dividend
2007-02-07	$0.13333	Dividend
2006-11-08	$0.12381	Dividend
2006-08-08	$0.12381	Dividend
2006-05-15	$0.12381	Dividend
2006-02-08	$0.11429	Dividend
2005-11-08	$0.10476	Dividend
2005-08-08	$0.10476	Dividend
2005-05-06	$0.09977	Dividend
2005-02-08	$0.09070	Dividend

Company Profile

MERCANTILE BANK
310 Leonard Street NW
Grand Rapids, MI 49504, USA
Phone: 616 406-3000
Fax: www.mercbank.com
Email:

Key Information

Sector:	Finance
Industry:	BANKS & THRIFTS
Analysts	5
Fiscal Year End:	December
Next Reported Fiscal Year:	2008
Last Reported Quarter:	6/30/2009

Management

Chmn.; Presi.; C.E.O.	Michael H. Price
Sr. V.P.; C.F.O.; Treas.	Charles E. Christmas
Dir.	John C. Gill
Dir.	Dale J. Visser
Dir.	Betty S. Burton

Competitors

SIC Code: 6022

Ticker	Company Name
NTRS	NORTHERN TRUST
MI	MARSHALL&ILSLEY
HBAN	HUNTINGTON BANC
TCB	TCF FINL CORP
ASBC	ASSOC BANC CORP
CBSH	COMMERCE BANCSH
CRBC	CITIZENS BKNG

Mercantile Bank Corporation MBWM (NSDQ) Financial Ratios

P/E
Current FY Estimate	0.00
Trailing 12 Months	0.00
PEG Ratio	0.00

EPS Growth
vs. Previous Year	-112.90%
vs. Previous Quarter	-24.53%

Sales Growth
vs. Previous Year	-7.02%
vs. Previous Quarter	-4.41%

Price Ratios
Price/Book	0.23
Price/Cash Flow	0.00
Price/Sales	0.31

ROE
06/30/2009	-5.06
03/30/2009	-3.34
12/30/2008	-2.88

ROA
06/30/2009	-0.39
03/30/2009	-0.26
12/30/2008	-0.23

Current Ratio
06/30/2009	1.07
03/30/2009	1.07
12/30/2008	1.09

Quick Ratio
06/30/2009	1.07
03/30/2009	1.07
12/30/2008	1.09

Operating Margin
06/30/2009	-7.00
03/30/2009	-4.58
12/30/2008	-3.86

Net Margin
06/30/2009	-7.62
03/30/2009	-4.58
12/30/2008	-3.86

Pre-Tax Margin
06/30/2009	-13.02
03/30/2009	-8.84
12/30/2008	-7.66

Book Value
06/30/2009	18.84
03/30/2009	19.71
12/30/2008	20.44

Inventory Turnover
06/30/2009	0.00
03/30/2009	0.00
12/30/2008	0.00

Debt-to-Equity
06/30/2009	1.76
03/30/2009	1.83
12/30/2008	1.85

Debt-to-Capital
06/30/2009	61.06
03/30/2009	64.66
12/30/2008	64.91

Quick Quote

Updated as of 3:52pm

Last Trade:	4.4591
Trade Time:	3:52pm
Change:	0.00
Open:	N/A
High:	N/A
Low:	N/A
Volume:	0

Security Details

Exchange	NSDQ
CUSIP
Split Date	04/19/2007
Split Factor	1.05
Shares outstanding	8.59
Beta	0.37

Detailed Quote as of 09/10/2009

Price	$4.37
52 Week High	$9.80
52 Week Low	$2.84
Price Change (4 weeks)	$14.70
Price Change (12 weeks)	$29.29
Price Change (YTD)	$1.63
Price Change (4 weeks) vs. S&P	$11.23
Price Change (12 weeks) vs. S&P	$14.99
Price Change (YTD) vs. S&P	$-14.13
Average Daily Volume (20 Days)	9,716
Market Capitalization	$37.53

Price History

Earning Announcement

Last Confirmation Date	2010-07-14
Next Earnings Announcement Date	2010-07-20
Earnings Quarter	Q2
Announcement Status	Confirmed

Investor Conference Call

Date	2010-07-20
Time	10:00:00
URL	Conference Call Information

Last Dividend Payout

Announcement Date	2010-01-19
Record Date	2010-02-10
Pay Date	2010-03-10
Amount Per Share	$0.01

Board Shareholder Meeting

First Quarter	2010-04-20
Second Quarter	2009-07-21
Third Quarter	2009-10-20
Fourth Quarter	2010-01-19