MBWM
MERCANTILE BANK CORP
NASDAQ · Financial Services · Banks - Regional · US
$61.71
+2.24%Income statement
| Metric | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | |||||
| Total Revenue | 390.6M | 371.8M | 361.9M | 303.5M | 213.9M |
| Cost of Revenue | 119.2M | 133.7M | 137.8M | 85.5M | 30.1M |
| Gross Profit | 271.4M | 238.1M | 224.1M | 218.0M | 183.8M |
| Operating Expenses | |||||
| R&D Expense | — | — | — | — | — |
| SG&A Expense | 123.3M | 110.3M | 82.0M | 72.6M | 67.8M |
| General & Admin Expense | 83.9M | 15.3M | 80.4M | 71.1M | 66.4M |
| Selling & Marketing Expense | — | 95.1M | 1.6M | 1.6M | 1.4M |
| Other Expenses | 36.1M | 25.6M | 43.8M | 42.7M | 40.2M |
| Total Operating Expenses | 159.4M | 136.0M | 125.8M | 115.3M | 108.0M |
| Cost and Expenses | 278.5M | 269.7M | 263.6M | 200.8M | 138.1M |
| Operating Income (EBIT) | 112.1M | 102.1M | 98.3M | 102.7M | 75.8M |
| Non-Operating | |||||
| Interest Income | 344.6M | 330.2M | 321.5M | 271.4M | 181.8M |
| Interest Expense | 119.6M | 129.2M | 130.4M | 77.8M | 23.6M |
| Net Interest Income | 225.1M | 201.0M | 191.1M | 193.5M | 158.2M |
| Other Non-Op Income/Expense | — | — | — | — | — |
| Non-Operating Income (excl Interest) | — | — | — | — | — |
| EBT (Pre-Tax Income) | 112.1M | 102.1M | 98.3M | 102.7M | 75.8M |
| Income Tax Expense | 16.5M | 13.3M | 18.7M | 20.5M | 14.7M |
| Bottom Line | |||||
| Net Income | 95.5M | 88.8M | 79.6M | 82.2M | 61.1M |
| Earnings from Cont. Ops | 95.5M | 88.8M | 79.6M | 82.2M | 61.1M |
| Earnings from Discont. Ops | — | — | — | — | — |
| Bottom Line Net Income | 95.5M | 88.8M | 79.6M | 82.2M | 61.1M |
| Per Share | |||||
| Basic EPS | $5.61 | $5.46 | $4.93 | $5.13 | $3.85 |
| Diluted EPS | $5.61 | $5.46 | $4.93 | $5.13 | $3.85 |
| Revenue Per Share | $22.60 | $22.86 | $22.43 | $18.95 | $13.49 |
| Shares | |||||
| Basic Shares Outstanding | 17.3M | 16.3M | 16.1M | 16.0M | 15.9M |
| Diluted Shares Outstanding | 17.3M | 16.3M | 16.1M | 16.0M | 15.9M |
| Profitability Metrics | |||||
| EBITDA | 116.3M | 107.9M | 108.8M | 114.2M | 88.7M |
| D&A | 4.3M | 5.8M | 10.5M | 11.5M | 12.9M |
| EBIT | 112.1M | 102.1M | 98.3M | 102.7M | 75.8M |
As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026