MBWM Stock Annual Income Statement. Download in Excel
Mercantile Bank Corporation
MBWM 
NGS
Sector: Financial Services
Industry: Banks - Regional - US
44.48
USD
1.43
(3.32%)
Previous close: 43.05 Open: 43.85 Bid: 24.28 Ask: 50.0
52 week range
35.61 52.98
Mkt Cap: 717 M Avg Vol (90 Days): 55,250
Last updated: Sunday 8th June 2025
Financials
MBWM Income Statement
Annual
| Dec-15 | Dec-16 | Dec-17 | Dec-18 | Dec-19 | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Basic EPS from continuing operations | 1.63 | 1.96 | 1.9 | 2.53 | 3.01 | 2.71 | 3.69 | 3.85 | 5.13 | 4.93 |
| Basic EPS total | 1.63 | 1.96 | 1.9 | 2.53 | 3.01 | 2.71 | 3.69 | 3.85 | 5.13 | 4.93 |
| Basic weighted shares outstanding | 17 M | 16 M | 16 M | 17 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M |
| CreditCard | 46 M | |||||||||
| CreditLossesProvision | 1000000.0 | 3 M | 3 M | 1 M | 2 M | 14 M | 4 M | 7 M | 8 M | 7 M |
| Depreciation | -3 M | -3 M | -3 M | -4 M | 4 M | 5 M | 6 M | 6 M | 6 M | 6 M |
| DepreciationAndAmortization | -3 M | -3 M | -3 M | -4 M | 4 M | 5 M | 6 M | 6 M | 6 M | 6 M |
| Diluted EPS total | 1.62 | 1.96 | 1.9 | 2.53 | 3.01 | 2.71 | 3.69 | 3.85 | 5.13 | 4.93 |
| Diluted normalized net income/share | 1.62 | 1.96 | 1.9 | 2.53 | 3.01 | 2.71 | 3.69 | 3.85 | 5.13 | 4.93 |
| Diluted weighted shares outstanding | 17 M | 16 M | 16 M | 17 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M |
| DividendIncome | 60 M | |||||||||
| Dividends paid per share | 1.18 | 1.26 | 1.34 | 1.4 | ||||||
| Equipment | 2 M | 2 M | 2 M | 2 M | 3 M | 3 M | 4 M | 4 M | 3 M | 4 M |
| FeesAndCommissions | 11 M | 12 M | 2 M | 2 M | 8 M | 29 M | 30 M | 9 M | 8 M | 12 M |
| GainOnSaleOfBusiness | 47 M | 1 M | ||||||||
| GeneralAndAdministrativeExpense | 16 M | 14 M | 15 M | 15 M | 225000.0 | 1 M | 2 M | 1 M | 2 M | 2 M |
| Income before tax | 39 M | 47 M | 46 M | 52 M | 60 M | 55 M | 74 M | 76 M | 103 M | 98 M |
| Income taxes | 14 M | 16 M | 16 M | 11 M | 11 M | 11 M | 15 M | 15 M | 20 M | 19 M |
| InsuranceAndClaims | 16 M | 14 M | 15 M | 15 M | 225000.0 | 1 M | 2 M | 1 M | 2 M | 2 M |
| Interest expense | -11 M | -13 M | -16 M | -22 M | 34 M | 26 M | 19 M | 24 M | 78 M | 130 M |
| InterestExpenseForCapitalizedLeaseObligations | 600000.0 | 1 M | 1 M | 2 M | 2 M | |||||
| InterestExpenseForDeposit | 8 M | 8 M | 9 M | 14 M | 21 M | 15 M | 9 M | 10 M | 55 M | 101 M |
| InterestExpenseForFederalFundsSoldAndSecuritiesPurchaseUnderAgreementsToResell | -40 M | -20 M | ||||||||
| InterestExpenseForLongTermDebt | 3 M | 5 M | 6 M | 8 M | 12 M | 11 M | 10 M | 13 M | 20 M | 21 M |
| InterestExpenseForLongTermDebtAndCapitalSecurities | 3 M | 5 M | 6 M | 8 M | 12 M | 11 M | 10 M | 13 M | 20 M | 21 M |
| InterestExpenseForShortTermDebt | 157000.0 | 211000.0 | 190000.0 | 273000.0 | 295000.0 | 173000.0 | 170000.0 | 294000.0 | 3 M | 8 M |
| InterestIncome | 112 M | 118 M | 126 M | 142 M | 158 M | 148 M | 143 M | 182 M | 271 M | 322 M |
| InterestIncomeAfterProvisionForLoanLoss | 101 M | 100 M | 104 M | 118 M | 123 M | 108 M | 120 M | 152 M | 186 M | 184 M |
| InterestIncomeFromDeposits | 215000.0 | 401000.0 | 1 M | 1 M | 2 M | 876000.0 | 933000.0 | 5 M | 6 M | 12 M |
| InterestIncomeFromInvestmentSecurities | 8 M | 9 M | 8 M | 61 M | 10 M | 10 M | 8 M | 10 M | 13 M | 16 M |
| InterestIncomeFromLoans | 143 M | 109 M | 117 M | 132 M | 146 M | 137 M | 135 M | 167 M | 253 M | 293 M |
| InterestIncomeFromLoansAndLease | 143 M | 109 M | 117 M | 132 M | 146 M | 137 M | 135 M | 167 M | 253 M | 293 M |
| InterestIncomeFromSecurities | 8 M | 9 M | 54 M | 61 M | 10 M | 10 M | 8 M | 10 M | 13 M | 16 M |
| Net income from total operations | 27 M | 32 M | 96 M | 42 M | 49 M | 44 M | 59 M | 61 M | 82 M | 80 M |
| NetIncomeCommonStockholders | 64 M | 79 M | 96 M | 113 M | 49 M | 44 M | 59 M | 61 M | 82 M | 80 M |
| NetIncomeContinuousOperations | 27 M | 32 M | 96 M | 42 M | 49 M | 44 M | 59 M | 61 M | 82 M | 80 M |
| NetInterestIncome | 102 M | 103 M | 107 M | 119 M | 125 M | 122 M | 124 M | 158 M | 194 M | 191 M |
| NetOccupancyExpense | 6 M | 6 M | 6 M | 7 M | 7 M | 8 M | 8 M | 8 M | 9 M | 9 M |
| NonInterestExpense | -79 M | -77 M | -80 M | -86 M | 89 M | 99 M | 111 M | 108 M | 115 M | 126 M |
| NonInterestIncome | 16 M | 21 M | 19 M | 19 M | 27 M | 45 M | 56 M | 32 M | 32 M | 40 M |
| Normalized income | 43 M | |||||||||
| OccupancyAndEquipment | 8 M | 8 M | 8 M | 9 M | 10 M | 11 M | 12 M | 12 M | 13 M | 12 M |
| Other special charges | -24 M | -38 M | -35 M | -42 M | -50 M | -54 M | ||||
| OtherCustomerServices | 4 M | 4 M | 2 M | 2 M | ||||||
| OtherGandA | 16 M | 14 M | 15 M | 15 M | 225000.0 | 1 M | 2 M | 1 M | 2 M | 2 M |
| OtherInterestExpense | -11 M | -13 M | -16 M | -22 M | -125 M | -122 M | 19 M | 24 M | 78 M | |
| OtherNonInterestExpense | 10 M | 8 M | 9 M | 9 M | 24 M | 25 M | 22 M | 27 M | 29 M | 30 M |
| OtherNonInterestIncome | 5 M | 9 M | 36 M | 36 M | 18 M | 16 M | 25 M | 4 M | 4 M | 6 M |
| PromotionAndAdvertising | 1 M | 2 M | 2 M | 2 M | 1 M | 1 M | 1 M | 1 M | 2 M | 2 M |
| Revenue per share | -2 M | -2 M | -2 M | -2 M | 2 M | 3 M | 4 M | 3 M | 3 M | 3 M |
| SalariesAndWages | 43 M | 44 M | 45 M | 51 M | 54 M | 60 M | 66 M | 65 M | 69 M | 78 M |
| SecuritiesActivities | 4 M | 4 M | 8 M | 8 M | 29 M | 30 M | 9 M | 8 M | 12 M | |
| Selling Gen & administrative expense | 60 M | 59 M | 62 M | 67 M | 56 M | 62 M | 69 M | 68 M | 73 M | 82 M |
| SellingAndMarketingExpense | 1 M | 2 M | 2 M | 2 M | 1 M | 1 M | 1 M | 1 M | 2 M | 2 M |
| ServiceChargeOnDepositorAccounts | 3 M | 4 M | 4 M | |||||||
| Special income/charges | -10 M | -8 M | -9 M | -9 M | -24 M | -25 M | -22 M | -27 M | -29 M | -30 M |
| Total common shares outstanding | 16 M | 16 M | 17 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M |
| Total net income | 27 M | 32 M | 96 M | 42 M | 49 M | 44 M | 59 M | 61 M | 82 M | 80 M |
| Total ordinary shares | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M | 16 M |
| Total revenues | 118 M | 124 M | 126 M | 138 M | 151 M | 167 M | 180 M | 190 M | 226 M | 231 M |
| TotalRevenue | 118 M | 124 M | 126 M | 138 M | 151 M | 167 M | 180 M | 190 M | 226 M | 231 M |
| TrustFeesbyCommissions | 47 M |
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