19 unchanged sentences
MERCANTILE BANK CORPORATION
−Removed: The following table depicts our GAP position as of June 30, 2021:
+Added: The following table depicts our GAP position as of September 30, 2021:
Commercial loans (1)
30 unchanged sentences
1,237,810,000
+Added: 1,088,535,000
Cumulative GAP
2 unchanged sentences
Floating rate loans that are currently at interest rate floors are treated as fixed rate loans and are reflected using maturity date and not repricing frequency.
−Removed: Mortgage-backed securities are categorized by average life calculations based upon prepayment trends as of June 30, 2021.
+Added: Mortgage-backed securities are categorized by average life calculations based upon prepayment trends as of September 30, 2021.
The second interest rate risk measurement we use is commonly referred to as net interest income simulation analysis.
8 unchanged sentences
Actual results will differ from simulated results due to timing, magnitude, and frequency of interest rate changes and changes in market conditions and our strategies, among other factors.
−Removed: We conducted multiple simulations as of June 30, 2021, in which it was assumed that changes in market interest rates occurred ranging from up 300 basis points to down 100 basis points in equal quarterly instalments over the next twelve months.
−Removed: The following table reflects the suggested dollar and percentage changes in net interest income over the next twelve months in comparison to the $119 million in net interest income projected using our balance sheet amounts and anticipated replacement rates as of June 30, 2021.
+Added: We conducted multiple simulations as of September 30, 2021, in which it was assumed that changes in market interest rates occurred ranging from up 300 basis points to down 100 basis points in equal quarterly instalments over the next twelve months.
+Added: The following table reflects the suggested dollar and percentage changes in net interest income over the next twelve months in comparison to the $123 million in net interest income projected using our balance sheet amounts and anticipated replacement rates as of September 30, 2021.
The resulting estimates are generally within our policy parameters established to manage and monitor interest rate risk.
18 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.