Mercantile Bank Corporation (MBWM)

Mercantile Bank Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jan 9, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Market Capitalization	795	718	647	531	549	441
Market Cap Growth	9.31%	10.98%	21.81%	-3.23%	24.46%	-25.97%
Last Close Price	48.94	43.07	37.77	30.02	30.27	22.63
PE Ratio	9.29	9.02	7.87	8.70	9.30	9.99
PS Ratio	3.39	3.21	2.97	2.89	2.97	2.88
PB Ratio	1.21	1.23	1.24	1.20	1.20	1.00
P/FCF Ratio	12.23	7.76	10.80	4.55	9.31	15.27
P/OCF Ratio	11.02	7.10	9.71	4.43	8.50	11.65
Debt / Equity Ratio	1.17	1.16	1.66	1.52	1.54	1.27
Debt / FCF Ratio	11.80	7.34	14.48	5.74	11.89	19.42
Return on Equity (ROE)	13.79%	14.38%	17.07%	13.60%	13.14%	10.29%
Return on Assets (ROA)	1.40%	1.40%	1.61%	1.21%	1.22%	1.09%
Earnings Yield	10.75%	11.08%	12.71%	11.49%	10.75%	10.01%
FCF Yield	8.18%	12.89%	9.26%	22.00%	10.74%	6.55%
Dividend Yield	3.11%	3.30%	3.55%	4.20%	3.90%	4.95%
Payout Ratio	28.46%	28.23%	25.55%	32.10%	31.39%	40.62%
Buyback Yield / Dilution	-0.63%	-0.72%	-0.98%	0.80%	1.73%	0.85%
Total Shareholder Return	2.48%	2.58%	2.57%	4.99%	5.63%	5.80%

Updated Oct 21, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q