# MERCANTILE BANK
QUINCY, IL · FDIC certificate 11301 · asset band $300M-1B · latest filing 2019-03 · stopped filing (departed)

**Verdict on the desk:** this could be *funding-stretched*. Composite score 1 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $467.5M | |
| Deposits | $343.2M | |
| Loans and leases | $283.6M | |
| Total equity | $42.0M | |
| Loans / deposits | 81.76% (p43 of band) | 84.98% |
| Liquid assets / assets | 32.53% (p75 of band) | |
| Uninsured deposits / deposits | 6.89% (p5 of band) | 21.58% |
| Brokered deposits | 5.44% | |
| Wholesale funding | 22.47% (p95 of band) | |
| FHLB advances / assets | 9.41% | |
| Tier 1 leverage | 8.43% (p6 of band) | 10.59% |
| Unrealized securities loss / equity | 0.57% (p85 of band) | -0.32% |
| AOCI / equity | 2.06% (p76 of band) | |
| ROA (annualized) | 0.94% (p39 of band) | 1.08% |
| Net interest margin | 3.25% (p20 of band) | 3.73% |
| Efficiency ratio | 63.85% (p41 of band) | |
| Noncurrent loans | 0.22% (p28 of band) | 0.51% |
| Net charge-offs (annualized) | 0.06% (p78 of band) | |
| Reserve coverage of noncurrent | 483.46% | |
| Real estate % of loans | 60% | |
| Construction % of loans | 27.48% (p36 of band) | |
| Auto loans | $24.5M (8.65% of loans; DQ 1.83%, NCO 0.03%) | |
| Loans to nondepository financials | $0 (0% of equity) (p44 of band) | |
| Deposits YoY | -1.6% | |
| Employees | 98 | |

## Flags firing in the latest filing

- **wholesale funding >15%** (`liq_wholesale`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | leverage <7%, reserve under noncurrent |  |
| 2011-06 | 1 |  | leverage <7% |
| 2011-09 | 3 | leverage <7%, losing money |  |
| 2011-12 | 6 | capital falling, expense ratio p90, charge-offs p90 |  |
| 2012-03 | 6 | NIM <2.5%, deposits shrinking, assets shrinking, uninsured deposits leaving | losing money, capital falling, expense ratio p90, charge-offs p90 |
| 2012-06 | 9 | losing money, expense ratio p90, charge-offs p90 |  |
| 2012-09 | 9 | capital falling | NIM <2.5% |
| 2012-12 | 8 |  | capital falling |
| 2013-03 | 6 | NIM <2.5% | reserve under noncurrent, losing money, charge-offs p90 |
| 2013-06 | 4 | losing money | leverage <7%, uninsured deposits leaving, NIM <2.5% |
| 2013-09 | 4 | auto book souring | losing money |
| 2013-12 | 6 | leverage <7%, NIM <2.5%, reserve under noncurrent | expense ratio p90 |
| 2014-03 | 4 |  | leverage <7%, NIM <2.5% |
| 2014-06 | 4 |  |  |
| 2014-09 | 4 |  |  |
| 2014-12 | 3 | wholesale funding >15% | assets shrinking, reserve under noncurrent |
| 2015-03 | 4 | loans exceed deposits |  |
| 2015-06 | 4 |  |  |
| 2015-09 | 2 |  | deposits shrinking, loans exceed deposits |
| 2015-12 | 3 | capital falling |  |
| 2016-03 | 4 | loans exceed deposits |  |
| 2016-06 | 3 |  | loans exceed deposits |
| 2016-09 | 3 |  |  |
| 2016-12 | 3 |  |  |
| 2017-03 | 2 |  | auto book souring |
| 2017-06 | 1 |  | capital falling |
| 2017-09 | 2 | uninsured deposits leaving |  |
| 2017-12 | 2 |  |  |
| 2018-03 | 3 | charge-offs p90 |  |
| 2018-06 | 2 |  | charge-offs p90 |
| 2018-09 | 1 |  | uninsured deposits leaving |
| 2018-12 | 1 |  |  |
| 2019-03 | 1 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2025-07-24 [Michigan, Georgia banks propose to buy in-state peers - Banking Dive](https://news.google.com/rss/articles/CBMi1AFBVV95cUxQSEdmVDBLWTFqSm9iRGxFQnFyaFoxTDBHWHZkeTVtdmJLejBlblpLODdKQmVUOWRWX3BicGJfQ184djNZNHM1WGZqS3ZTeXBheEtCem9oQ0NGSE9wemZRNjBya0t3NGdOTkhTOXlWcTAyQ0lLT1FBaDA1SVRSSnUwem5PNnJqU1R4cmVNRWNHZHF4VXZJcWMzd29IQWpOV28wVEJvbWJGaVkwYWZkakdpRndINmhGQjJuM0diQ1BRTmJRaGVRS0J0SnRoZHViOXNyV3VWVA?oc=5) · Banking Dive
- 2024-10-25 [QU President’s Breakfast on Tuesday to feature Mercantile Bank president as guest speaker - Muddy River News](https://news.google.com/rss/articles/CBMi5wFBVV95cUxQRHptalVwMGdYSzZmdVVwTU1neWVVRHZVNDExdUhMMk4tN1pFRV94b0NydmdFSENPNlg2SEdQWFdpUy1fN19oUkVpVGh5eE9VRzZHUlpTbFloaFhhN0F6VENhREM1bWFkZHplOVJVVWhMQ0NKX1VmOTVzOFdjN05DdlNYR09ZWTFMRTlBR1ZDX0dSZXVXNnQzbmd4SVNxNG94V1dWNU5GWEJ5TVhqbGVUTERfTVhQT25LYjlkY0dWNk5qQ0k4Qmp6bUFqTWZBelB3WmozR2pqV0JnVnJHWUtZTjNEa05aUHc?oc=5) · Muddy River News
- 2022-03-23 [Quincy man sentenced to five years for Mercantile Bank robbery - wgem.com](https://news.google.com/rss/articles/CBMikgFBVV95cUxPcUFLMm9EdTdlYjlPeDV2aFVqOVN3dU82U3RLSzk2WkJLaklFc0ZpMXZYRUozZ09uN20yV3BSaEJtOThRWlVUSWZDNm1xdElFSEYyZVZiWWVQVHh3Vmh2SHBVVUQzdmcyYmJtVUxyNThvWUlNam5wV3IxbUxyWG9tcGI5dkU1Mjh3dTgyRUVId3R6QdIBpgFBVV95cUxQOUEzY0llOUpPM2ZuNkJLWWRvd0J5bVJNLVpYWk55QnlxLWg0QS1PSGtyYTRZTFVsbDVWRHlPR1lLSVRTWUJ2VDlwb0NlN1BtdXVqMURaRFRuTU9EMmVFMjAxQTUycTF3N1RqTDcyLU50aFhYVF9wOWJiWkNkSkxNWE9zR3ZQdjZTWkU1T0pOdGFsRkZXRXVBOXd1VjBnZU9KbnJJS3VR?oc=5) · wgem.com
- 2023-08-03 [Brighton bank note from 1902 in Aug. 19 state auction - Alton Telegraph](https://news.google.com/rss/articles/CBMiowFBVV95cUxPTjdCT0w1SEtwVF9zZ3MzRnNrZk9BbGdfaWxrckNpeldsb1lyX0RiVjdDbHppaVN2TzNuT0FEam8tV2MtUDlOVU9QYkIzNTZCTG1tOVJuNGd3X0FIOWk3emxrbG1zUV9GandUa1M4ZmNIVVcxQmEyWDN1bXM0WFFRNTU0alBUTTFFd19DeWJOOVhkU0g1aFRZcTRXYnlVVXpic09F?oc=5) · Alton Telegraph
- 2025-05-21 [NAI Wisinski closes sale of 31,500-square-foot office building in Kentwood - rejournals.com](https://news.google.com/rss/articles/CBMingFBVV95cUxPNmtoNjNzNXo5OEVFNmlDTl81REJ6aUVhOVNxXzQyMy1rckRxeHdleDRuMVM0QUpocExvY3JXWlVYNTcxbFZkXzdEdjJ1ZURkcWdmbWRHSzRyT3FNOXRkVGRqUXNEWTJQd05Md2gwNndvaXd5VGNSUWNkT3VPbTh5TGNST2M0UVFxM2o3cldWYmpNUVNuczhPandzSGpCdw?oc=5) · rejournals.com
- 2026-02-04 [Forbes 2026 America's Best Banks List | Top Ranked and Rated - Forbes](https://news.google.com/rss/articles/CBMiXkFVX3lxTFBrbWc0QzhhUnVtRVhDWVM4bl9kLTh0NC03SDNEQjRLNkRVdmphMWItazhVejNfLTBNLTBDaDZDMXJJdWpfbzJCNVo4MnVOSGk0YVRTN3ZXbnVqdVRvcGc?oc=5) · Forbes
- 2026-07-23 [Mercantile Bank inaugurates ATM Booth at Noakhali Club, Dhaka - The Financial Express](https://news.google.com/rss/articles/CBMiowFBVV95cUxNaXluWmxWMEpycFp4eWFFdmxKZmJfNWw5NllZZEpOTnR5cGJzNGxONl9mdlNMM0FZN3hLMFZYelZfR2FkNzNubFpieFQ3bXBqN2xBNElPbHFLU3VWQWJmMHhkUjIydjB6cTg3NV9ZNDVveGh2dWFJRVpZSkp0TEpIRHF1cEY0NEJ4VWQwcVpvWDA1alB3UG5QOUc4MndQc1MwdG5j?oc=5) · The Financial Express
- 2025-08-13 [Robert L. Floerke Obituary Aug 13, 2025 - Quernheim Funeral Home](https://news.google.com/rss/articles/CBMib0FVX3lxTE9YX29rMU1yajdxZkV1RW9qOE9ieVZMRDAtaTJBOTUzZkRzNmNyYTFpeXE3dEp3Q3lzSUtNb2FoUjJKczhlb2lNTGpIS1hmTUhYWU5NRFB5Qnh5bXRpQm9IdGRDb3Z4Q2E4V0NrMFUzMA?oc=5) · Quernheim Funeral Home

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=11301 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/37.json (key "11301", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

---
Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide