Mercantile Bank Corporation (MBWM)

Mercantile Bank Income 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	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest Income on Loans	291.2	291.36	291.92	252.39	166.85	135.05
Interest Income on Investments	48.82	38.84	29.58	18.97	14.99	8.45
Total Interest Income	340.02	330.19	321.5	271.36	181.84	143.49
Interest Paid on Deposits	97.98	102.51	101.4	55.44	10.04	9.11
Interest Paid on Borrowings	25.87	26.64	29.02	22.37	13.56	10.32
Total Interest Expense	123.84	129.15	130.42	77.81	23.6	19.43
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%
Mortgage Banking Activities	12.57	13.02	12.3	7.6	8.66	29.96
Gain (Loss) on Sale of Assets	-	-	-	-	-	1.06
Other Non-Interest Income	11.42	10.25	11.73	10.68	9.25	12.61
Total Non-Interest Income	43.63	40.61	39.69	32.14	32.08	56.22
Non-Interest Income Growth	11.01%	2.32%	23.48%	0.21%	-42.94%	24.46%
Revenues Before Loan Losses	259.81	241.65	230.78	225.69	190.32	180.28
Provision for Loan Losses	-4.1	3.2	7.4	7.7	6.55	-4.3
Revenue	263.91	238.45	223.38	217.99	183.77	184.58
Revenue Growth	15.91%	6.75%	2.47%	18.62%	-0.44%	20.35%
Salaries and Employee Benefits	86.99	79.28	74.19	65.07	61.39	62.32
Federal Deposit Insurance	2.72	2.72	2.5	2.26	1.24	1.82
Selling, General & Administrative	35.45	32.72	31.47	29.53	29.52	28.15
Other Non-Interest Expense	22.8	18.36	15.93	17.77	14.32	14.56
Total Non-Interest Expense	150.75	134.14	125.79	115.29	107.98	110.87
EBT Excluding Unusual Items	113.16	104.31	97.59	102.7	75.79	73.72
Pretax Income	111.95	103.49	98.29	102.7	75.79	73.72
Income Tax Expense	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%
Basic Shares Outstanding	17	16	16	16	16	16
Diluted Shares Outstanding	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	12.95%	10.87%	-3.90%	33.25%	4.34%	36.16%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend 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%
Effective Tax Rate	14.95%	14.24%	19.02%	19.94%	19.43%	19.93%

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jul 21, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 21, 2026

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