Mercantile Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Interest Income	208.4	201.04	191.09	193.55	158.24	124.06
Net Interest Income Growth	8.39%	5.21%	-1.27%	22.31%	27.55%	1.49%
Non-Interest Income	44.59	41.61	40.39	32.14	32.08	56.22
Non-Interest Income Growth	16.67%	3.02%	25.65%	0.21%	-42.94%	24.46%
Revenues Before Loan Losses	252.99	242.65	231.48	225.69	190.32	180.28
Provision for Credit Losses	-0.7	3.2	7.4	7.7	6.55	-4.3
Revenue	253.69	239.45	224.08	217.99	183.77	184.58
Revenue Growth (YoY)	14.12%	6.86%	2.79%	18.62%	-0.44%	20.35%
Compensation Expenses	87.32	83.2	77.92	68.8	65.12	66.45
Selling, General & Admin	28.27	31.52	30.23	28.06	27.02	25.84
Other Non-Interest Expenses	26.99	21.24	17.63	18.43	15.84	18.58
Total Non-Interest Expense	146.96	135.96	125.79	115.29	107.98	110.87
Pretax Income	106.73	103.49	98.29	102.7	75.79	73.72
Provision for Income Taxes	14.83	14.74	18.69	20.48	14.73	14.7
Net Income	91.9	88.75	79.59	82.22	61.06	59.02
Net Income to Common	91.9	88.75	79.59	82.22	61.06	59.02
Net Income Growth	18.48%	11.51%	-3.19%	34.64%	3.46%	33.72%
Shares Outstanding (Basic)	16	16	16	16	16	16
Shares Outstanding (Diluted)	16	16	16	16	16	16
Shares Change (YoY)	2.15%	0.66%	0.72%	0.98%	-0.80%	-1.73%
EPS (Basic)	5.57	5.47	4.93	5.13	3.85	3.69
EPS (Diluted)	5.57	5.47	4.93	5.13	3.85	3.69
EPS Growth	15.56%	10.95%	-3.90%	33.25%	4.34%	36.16%
Shares Outstanding	17.27	17.18	16.15	16.13	15.99	15.84
Free Cash Flow	-	11.21	92.59	59.93	116.85	58.97
Free Cash Flow Growth	-	-87.89%	54.50%	-48.71%	98.14%	104.14%
Free Cash Flow Per Share	-	0.69	5.74	3.74	7.37	3.69
Dividends Per Share	1.510	1.500	1.420	1.340	1.260	1.180
Dividend Growth	0.67%	5.63%	5.97%	6.35%	6.78%	5.36%
Profit Margin	36.23%	37.06%	35.52%	37.72%	33.23%	31.98%
FCF Margin	-	4.68%	41.32%	27.49%	63.58%	31.95%
EBITDA	-	5.8	10.51	11.5	12.95	13.54
EBITDA Margin	-	2.42%	4.69%	5.27%	7.04%	7.34%
Effective Tax Rate	13.89%	14.24%	19.02%	19.94%	19.43%	19.93%

Updated Apr 21, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q