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	Jun '26 Jun 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
Net Interest Income	216.18	201.04	191.09	193.55	158.24	124.06
Net Interest Income Growth	11.04%	5.21%	-1.27%	22.31%	27.55%	1.49%
Non-Interest Income	44.63	41.61	40.39	32.14	32.08	56.22
Non-Interest Income Growth	11.57%	3.02%	25.65%	0.21%	-42.94%	24.46%
Revenues Before Loan Losses	260.81	242.65	231.48	225.69	190.32	180.28
Provision for Credit Losses	-4.1	3.2	7.4	7.7	6.55	-4.3
Revenue	264.91	239.45	224.08	217.99	183.77	184.58
Revenue Growth	15.99%	6.86%	2.79%	18.62%	-0.44%	20.35%
Compensation Expenses	91.22	83.2	77.92	68.8	65.12	66.45
Selling, General & Admin	29.56	31.52	30.23	28.06	27.02	25.84
Other Non-Interest Expenses	26.74	21.24	17.63	18.43	15.84	18.58
Total Non-Interest Expense	152.96	135.96	125.79	115.29	107.98	110.87
Pretax Income	111.95	103.49	98.29	102.7	75.79	73.72
Provision for Income Taxes	16.74	14.74	18.69	20.48	14.73	14.7
Net Income	95.21	88.75	79.59	82.22	61.06	59.02
Net Income to Common	95.21	88.75	79.59	82.22	61.06	59.02
Net Income Growth	16.97%	11.51%	-3.19%	34.64%	3.46%	33.72%
Shares Outstanding (Basic)	17	16	16	16	16	16
Shares Outstanding (Diluted)	17	16	16	16	16	16
Shares Change	3.57%	0.66%	0.72%	0.98%	-0.80%	-1.73%
EPS (Basic)	5.68	5.47	4.93	5.13	3.85	3.69
EPS (Diluted)	5.68	5.47	4.93	5.13	3.85	3.69
EPS Growth	12.70%	10.95%	-3.90%	33.25%	4.34%	36.16%
Free Cash Flow	68.43	11.21	92.59	59.93	116.85	58.97
Free Cash Flow Growth	117.37%	-87.89%	54.50%	-48.71%	98.14%	104.14%
Free Cash Flow Per Share	4.08	0.69	5.74	3.74	7.37	3.69
Dividends Per Share	1.540	1.500	1.420	1.340	1.260	1.180
Dividend Growth	5.48%	5.63%	5.97%	6.35%	6.78%	5.36%
Profit Margin	35.94%	37.06%	35.52%	37.72%	33.23%	31.98%
FCF Margin	25.83%	4.68%	41.32%	27.49%	63.58%	31.95%
Effective Tax Rate	14.95%	14.24%	19.02%	19.94%	19.43%	19.93%

SEC Filings: 10-K · 10-Q