Mercantile Bank Corp. (MBWM)’s 4th Quarter 2014 Earnings Result Conference Call Transcript

Good question John, there clearly is a line and I know you know it is. It’s made people have a lot of M & A activity going on in Michigan. There’s some fairly happy prices which one of the reasons why went along without it, which we have. The neat thing about us is when you look at our capital position, the success we’ve had in immigrating the merger equals and where we stand in the average number of Michigan banks. We continue to participate in the M & A activity or not or we continue to focus on the organic picture which is always our favorite way of growing or a bit of both. So, where we are right now, we listen, we’re active participants, and we see what’s going on out there but we try to be just like we built our organic portfolio. Very disciplined, and making sure we protect our share holders in any dissolution that we may expose them to as a proper earn back. And a proper result in the company is properly strong enough to justify doing it. So, we’re in the listening mode and sometimes a talking mode. But, if we did do the deal and spent 16-17 years doing this job then at Merkentol, if we didn’t do deal that wouldn’t surprise me. But if we did one, that wouldn’t surprise me either. Hopefully, you don’t think that’s too evasive but that’s exactly where we’re at.

John Rhodes – FIG partners

I hear what you’re saying, and maybe just one final question for you Chuck just to follow up on the one large credit that you moved to non-performing. You said that’s still paying as agreed as you structured?

Charles E. Christmas – Senior Vice President, Chief Financial Officer and Treasurer:

Yeah, I think as mike noted it was paying at the beginning as we put it and I think what we’re trying to say is that as we work with the borrower, we may from time to time re-structure. What they do have to pay to us, you know and try to help them wipe the shift if you will, but they continue to make it’s interesting that they continue to make so it’s still coming in but again we’ve taken the contributive post and put it down. And any payments that we do get from the book stand point; we’re putting a 100% of the principal balance.

John Rhodes – FIG partners

Okay, fair enough, thanks guys

Operator

The next question comes from Daniel Cardenas of Raymond James. Please go ahead:

Daniel Cardenas – Raymond James

Hey good morning guys. A quick quality question. If you could just give me the balance of your TERs at the end of the quarter?