MERCANTILE BANK CORP

Ticker: MBWM CUSIP: 587376104 Class: Common Stock

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 9,061 Value ($000) $222 Avg Close $16.07 Range $13.15 - $17.93

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	9,061	$222	$16.07	$13.15 - $17.93