Mercantile Bank Corporation (MBWM)

Mercantile Bank Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	91.9	88.75	79.59	82.22	61.06	59.02
Depreciation & Amortization	5.68	5.8	10.51	11.5	12.95	13.54
Provision for Credit Losses	-0.7	3.2	7.4	7.7	6.55	-4.3
Stock-Based Compensation	4.09	3.92	3.74	3.73	3.74	4.13
Net Change in Loans Held-for-Sale	-6.56	-1.34	2.78	-15.04	12.55	6.77
Other Adjustments	-3.36	-1.12	-3.4	-3.23	-2.91	0.05
Changes in Accrued Interest and Accounts Receivable	-0.16	-0.13	-1.6	-4.33	-6.17	1.53
Changes in Accounts Payable	-12.77	-22.01	27.89	14.25	32.52	-3.51
Changes in Other Operating Activities	-30.95	-59.1	-25.8	-30.19	-0.44	-12.66
Operating Cash Flow	49.26	17.97	101.12	66.61	119.86	64.57
Operating Cash Flow Growth	-14.93%	-82.23%	51.80%	-44.42%	85.62%	70.48%
Net Change in Loans Held-for-Investment	22.11	-19.25	-300	-387.28	-462.43	-267.9
Net Change in Securities and Investments	-120.91	-136.05	-118.84	-3.09	-93.25	-220.28
Payments for Business Acquisitions	-	53.57	0	0	-	-
Capital Expenditures	-5.94	-6.76	-8.53	-6.69	-3.02	-5.6
Sale of Property, Plant & Equipment	-	0	0.57	1.13	3.06	0.95
Other Investing Activities	2.98	2.79	1.36	0	0.63	-2.68
Investing Cash Flow	-48.42	-105.7	-425.44	-395.93	-555	-495.51
Net Change in Deposits	262.76	111.19	797.45	188.11	-370.38	686.28
Net Change in Short-Term Interbank Borrowing and Repurchase Agreements	-22.59	110.77	-108.21	35.39	-3.12	79.1
Long-Term Debt Issued	40	50	10	240	42.91	73.64
Long-Term Debt Repaid	-73.4	-80.86	-90.83	-80.35	-94	-20
Net Long-Term Debt Issued (Repaid)	-33.4	-30.86	-80.83	159.65	-51.09	53.64
Issuance of Common Stock	0.91	0.9	0.86	0.94	0.95	0.98
Repurchase of Common Stock	-	-	-	-	-	-21.38
Net Common Stock Issued (Repurchased)	0.91	0.9	0.86	0.94	0.95	-20.41
Common Dividends Paid	-24.68	-23.95	-22.47	-21	-19.6	-18.52
Financing Cash Flow	193	168.05	586.8	363.08	-443.25	780.09
Net Cash Flow	193.84	80.31	262.48	33.76	-878.39	349.15
Free Cash Flow	43.32	11.21	92.59	59.93	116.85	58.97
Free Cash Flow Growth	286.47%	-87.89%	54.50%	-48.71%	98.14%	104.14%
FCF Margin	17.08%	4.68%	41.32%	27.49%	63.58%	31.95%
Free Cash Flow Per Share	2.63	0.69	5.74	3.74	7.37	3.69
Levered Free Cash Flow	14.36	-24.31	1.24	226.41	45.82	105.96
Unlevered Free Cash Flow	-44.14	-82.2	2.48	-15.46	35.85	-6.7

Updated May 1, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q