Mercantile Bank Corporation (MBWM)
NASDAQ: MBWM · Real-Time Price · USD
61.22
-0.14 (-0.23%)
Nov 11, 2026, 4:00 PM EST - Market closed
Mercantile Bank Balance Sheet
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Assets
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Cash & Equivalents | 628.5 | 473.32 | 393.01 | 130.53 | 96.77 | 975.16 |
Investment Securities | 1,029 | 1,078 | 743.88 | 587.62 | 570.98 | 550.94 |
Trading Asset Securities | 28.48 | 23.21 | 26.79 | 27.51 | 26.17 | 4.61 |
Mortgage-Backed Securities | 68.71 | 75.76 | 25.37 | 29.47 | 31.95 | 41.8 |
Total Investments | 1,126 | 1,177 | 796.05 | 644.6 | 629.11 | 597.35 |
Gross Loans | 4,953 | 4,822 | 4,601 | 4,304 | 3,917 | 3,456 |
Allowance for Loan Losses | -56.42 | -58.19 | -54.45 | -49.91 | -42.25 | -35.36 |
Other Adjustments to Gross Loans | - | - | - | - | - | -2.5 |
Net Loans | 4,897 | 4,764 | 4,546 | 4,254 | 3,874 | 3,418 |
Property, Plant & Equipment | 60.8 | 62.47 | 53.43 | 50.93 | 51.48 | 57.3 |
Goodwill | 73.69 | 72.66 | 49.47 | 49.47 | 49.47 | 49.47 |
Other Intangible Assets | 16.44 | 20.39 | - | - | - | 1.35 |
Loans Held for Sale | 22.44 | 17.16 | 15.82 | 18.61 | 3.57 | 16.12 |
Accrued Interest Receivable | 26.55 | 23.64 | 21.4 | 19.81 | 15.48 | 9.31 |
Other Real Estate Owned & Foreclosed | - | - | - | 0.2 | - | - |
Other Long-Term Assets | 311.43 | 224.95 | 176.65 | 163.72 | 134.65 | 115.59 |
Total Assets | 7,163 | 6,835 | 6,052 | 5,353 | 4,873 | 5,258 |
Liabilities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Interest Bearing Deposits | 4,146 | 3,814 | 3,284 | 2,032 | 1,846 | 2,106 |
Institutional Deposits | 20.09 | 130.51 | 149.7 | 621.75 | 261.61 | 299.12 |
Non-Interest Bearing Deposits | 1,446 | 1,340 | 1,265 | 1,248 | 1,605 | 1,678 |
Total Deposits | 5,612 | 5,284 | 4,698 | 3,901 | 3,713 | 4,083 |
Short-Term Borrowings | 197.45 | 232.29 | 121.52 | 229.73 | 194.34 | 197.46 |
Current Portion of Long-Term Debt | 139.5 | 104.43 | 27.05 | 27.96 | 26.38 | 4.86 |
Current Portion of Leases | 0.3 | 1.19 | - | - | - | - |
Accrued Interest Payable | 6.87 | 9.92 | 10.2 | 9.01 | 3.22 | 1.39 |
Other Current Liabilities | - | 0.18 | 0.18 | 0.1 | 0.11 | 0.21 |
Long-Term Debt | 102.41 | 119.66 | 89.31 | 88.97 | 88.63 | 73.65 |
Federal Home Loan Bank Debt, Long-Term | 204.38 | 245.32 | 387.08 | 467.91 | 308.26 | 374 |
Long-Term Leases | 3.04 | 2.7 | 4.4 | 3.7 | 3.5 | 2.8 |
Trust Preferred Securities | 51.53 | 51.02 | 50.33 | 49.64 | 48.96 | 48.24 |
Other Long-Term Liabilities | 101.26 | 59.17 | 79.2 | 53.13 | 45 | 15.38 |
Total Liabilities | 6,419 | 6,110 | 5,468 | 4,831 | 4,431 | 4,801 |
Shareholders' Equity
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Common Stock | 353.55 | 349.43 | 299.71 | 295.11 | 290.44 | 285.75 |
Retained Earnings | 452.05 | 399.45 | 334.65 | 277.53 | 216.31 | 174.54 |
Comprehensive Income & Other | -61.76 | -24 | -49.83 | -50.49 | -65.34 | -3.73 |
Shareholders' Equity | 743.84 | 724.88 | 584.53 | 522.15 | 441.41 | 456.56 |
Total Liabilities & Equity | 7,163 | 6,835 | 6,052 | 5,353 | 4,873 | 5,258 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 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 |
Total Debt | 698.62 | 756.61 | 679.7 | 867.92 | 670.07 | 701.01 |
Net Cash (Debt) | -41.65 | -260.07 | -259.9 | -709.89 | -547.12 | 278.76 |
Net Cash Growth | - | - | - | - | - | 322.02% |
Net Cash Per Share | -2.45 | -16.02 | -16.11 | -44.32 | -34.50 | 17.44 |
Filing Date Shares Outstanding | 17.29 | 17.27 | 16.23 | 16.12 | 16 | 15.84 |
Total Common Shares Outstanding | 17.29 | 17.18 | 16.15 | 16.13 | 15.99 | 15.84 |
Book Value Per Share | 43.03 | 42.19 | 36.20 | 32.38 | 27.60 | 28.82 |
Tangible Book Value | 653.7 | 631.84 | 535.05 | 472.67 | 391.94 | 405.74 |
Tangible Book Value Per Share | 37.81 | 36.78 | 33.14 | 29.31 | 24.50 | 25.61 |