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Mercantile Bank Corporation

Financial Services US MBWM

53.955USD
0.93(1.74%)

Last update at 2026-06-09T16:03:00Z

Day Range

53.2354.44
LowHigh

52 Week Range

24.3942.41
LowHigh

Fundamentals

  • Previous Close 53.03
  • Market Cap614.04M
  • Volume46516
  • P/E Ratio7.38
  • Dividend Yield3.68%
  • Revenue TTM220.18M
  • Revenue Per Share TTM13.72
  • Gross Profit TTM 182.97M
  • Diluted EPS TTM5.16

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Analyst Recommendations

Financials

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 75.79M 73.72M 54.85M 60.46M 51.82M
Minority interest - - - - -
Net income 61.06M 59.02M 44.14M 49.46M 42.02M
Selling general administrative 77.48M 77.55M 70.24M 63.07M 59.47M
Selling and marketing expenses 1.45M 1.18M 1.29M 1.45M 1.65M
Gross profit 190.32M 179.22M 167.42M 151.49M 139.09M
Reconciled depreciation 12.95M 13.68M 9.43M 9.55M 9.77M
Ebit 99.39M 73.72M 54.85M 60.46M 73.72M
Ebitda 112.33M 87.39M 64.27M 70.01M 83.49M
Depreciation and amortization 12.95M 13.68M 9.43M 9.55M 9.77M
Non operating income net other - - - - -
Operating income 99.39M 73.72M 54.85M 60.46M 73.72M
Other operating expenses -90.93600M -105.50800M -112.57000M -91.03000M 65.37M
Interest expense 23.59M 19.43M 26.07M 33.80M 21.90M
Tax provision 14.73M 14.70M 10.71M 11.00M 9.80M
Interest income 181.84M 143.49M 148.31M 158.34M 141.98M
Net interest income 158.24M 124.06M 122.25M 124.53M 120.08M
Extraordinary items - - - - -
Non recurring - - - - -
Other items - - - - -
Income tax expense 14.73M 14.70M 10.71M 11.00M 9.80M
Total revenue 190.32M 179.22M 167.42M 151.49M 139.09M
Total operating expenses -90.93600M -105.50800M -112.57000M -91.03000M -65.37100M
Cost of revenue - - - - 23.00M
Total other income expense net -23.59500M -19.43200M -26.06700M -33.80300M -21.89900M
Discontinued operations - - - - -
Net income from continuing ops 61.06M 59.02M 44.14M 49.46M 42.02M
Net income applicable to common shares 61.06M 59.02M 44.14M 49.46M 42.02M
Preferred stock and other adjustments - - - - -
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets 5360.06M 4872.62M 5257.75M 4437.34M 3632.91M
Intangible assets 11.34M 0.58M 1.35M 2.44M 3.84M
Earning assets - - - - 533.13M
Other current assets 150.23M 19.04M 2988.98M 2925.78M 2619.23M
Total liab 4837.91M 4431.21M 4801.19M 3995.79M 3216.35M
Total stockholder equity 522.14M 441.41M 456.56M 441.55M 416.56M
Deferred long term liab - - - - -
Other current liab 1623.75M -78.21100M -24.64400M -24.30900M -22.41400M
Common stock 295.11M 290.44M 285.75M 302.03M 305.04M
Capital stock 295.11M 290.44M 285.75M 302.03M 305.04M
Retained earnings 277.53M 216.31M 174.54M 134.04M 107.83M
Other liab - 45.47M 14.81M 17.54M 14.66M
Good will 49.47M 49.47M 49.47M 49.47M 49.47M
Other assets 0.00000M 3468.44M 2988.98M 2925.78M 2619.23M
Cash 130.53M 96.77M 975.16M 626.01M 233.73M
Cash and equivalents - - - - -
Total current liabilities 1945.44M 78.21M 24.64M 24.31M 22.41M
Current deferred revenue - - - - -
Net debt 709.42M 349.08M -479.27000M -184.44300M 167.15M
Short term debt 321.69M 308.26M 374.00M 130.00M 354.00M
Short long term debt - - - - 40.00M
Short long term debt total 839.95M 445.85M 495.89M 441.56M 400.88M
Other stockholder equity - -65.34100M 285.75M -5480.51400M -0.30500M
Property plant equipment - 51.48M 57.30M 58.96M 57.33M
Total current assets 150.23M 699.71M 1567.90M 1013.35M 568.39M
Long term investments 617.09M 602.94M 592.74M 3565.74M 3167.43M
Net tangible assets - 391.35M 405.74M 389.64M 363.25M
Short term investments 617.09M 602.94M 592.74M 387.35M 334.65M
Net receivables - 3874.37M - - -
Long term debt 606.52M 445.85M 495.89M 47.56M 46.88M
Inventory - - - 0.70M 0.45M
Accounts payable - 78.21M 24.64M 24.31M 22.41M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -50.48700M -65.34100M -3.72900M 5.49M 3.69M
Additional paid in capital - - - - -
Common stock total equity - 290.44M 285.75M 302.03M 305.04M
Preferred stock total equity - - - - -
Retained earnings total equity - 216.31M 174.54M 134.04M 107.83M
Treasury stock - - - - -
Accumulated amortization - - - - -
Non currrent assets other 4982.36M -704.46800M -700.86500M -498.21500M -445.29500M
Deferred long term asset charges - - - - -
Non current assets total 5209.82M 704.47M 700.87M 498.21M 445.30M
Capital lease obligations - - - - -
Long term debt total - 137.59M 121.89M 47.56M 46.88M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -551.17300M -486.17500M -389.97900M -84.20600M -206.89800M
Change to liabilities 32.52M 0.34M 1.90M -2.81800M 11.03M
Total cashflows from investing activities -554.99900M -495.50700M -398.80600M -92.83800M -210.48000M
Net borrowings -54.21500M 132.73M 55.69M 3.16M 114.77M
Total cash from financing activities -443.25100M 780.09M 753.20M 206.45M 24.00M
Change to operating activities 32.09M -15.94400M -8.99700M -10.45400M 8.84M
Net income 61.06M 59.02M 44.14M 49.46M 42.02M
Change in cash -878.38800M 349.15M 392.27M 158.38M -124.74700M
Begin period cash flow 975.16M 626.01M 233.73M 75.35M 200.10M
End period cash flow 96.77M 975.16M 626.01M 233.73M 75.35M
Total cash from operating activities 119.86M 64.57M 37.88M 44.77M 61.74M
Issuance of capital stock 0.87M 0.88M 0.81M 0.73M 1.17M
Depreciation 12.95M 13.68M 9.43M 9.55M 9.77M
Other cashflows from investing activities -0.80900M -3.73000M 0.16M 4.85M 2.74M
Dividends paid -19.60200M -18.52400M -17.93000M -17.10800M 27.50M
Change to inventory - - - - -
Change to account receivables -6.16500M 1.53M -0.91700M -0.04800M -1.12600M
Sale purchase of stock 0.95M -21.38000M -6.59100M -7.18300M -5.94300M
Other cashflows from financing activities -330.51600M 839.12M 796.91M 270.01M 86.27M
Change to netincome 19.73M 6.64M -4.97100M -2.36400M 3.86M
Capital expenditures 3.02M 5.60M 8.99M 13.48M 6.32M
Change receivables -6.16500M 1.53M -0.91700M -0.04800M -1.12600M
Cash flows other operating -0.23100M -16.63200M -11.69300M -9.01200M -3.81300M
Exchange rate changes - - - - -
Cash and cash equivalents changes -878.38800M 349.15M 392.27M 158.38M -124.74700M
Change in working capital 25.92M -14.41600M -9.91400M -10.50200M 7.71M
Stock based compensation 3.38M 3.78M 2.33M 2.93M 2.41M
Other non cash items 17.91M 0.49M -3.95600M -6.69700M 0.20M
Free cash flow 116.84M 58.97M 28.89M 31.28M 55.42M

Peer Comparison

Sector: Financial Services Industry: Banks - Regional

Company Change (USD) Price (USD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x)
MBWM
Mercantile Bank Corporation		 0.93 1.74% 53.95 7.38 8.14 2.64 1.11
HDB
HDFC Bank Limited ADR		 0.24 1.04% 23.25 20.81 20.96 0.11 4.77
CIHKY
China Merchants Bank Co Ltd		 -0.24 0.78% 30.47 7.78 7.65 0.56 0.90 3.62
DBSDF
DBS Group Holdings Ltd		 0.16 0.32% 50.61 15.29 14.41 5.84 2.36 10.40
CIHHF
China Merchants Bank Co Ltd Class H		 - -% 5.92 6.10 5.67 0.44 0.77 3.43

Reports Covered

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Profile

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also provides commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans. In addition, it offers courier services and safe deposit facilities; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products. The company was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

Mercantile Bank Corporation

310 Leonard Street NW, Grand Rapids, MI, United States, 49504

Key Executives

Name Title Year Born
Mr. Robert B. Kaminski Jr. Pres, CEO & Director 1962
Mr. Charles E. Christmas Exec. VP, CFO & Treasurer 1966
Mr. Raymond E. Reitsma Exec. VP & COO 1963
Mr. Robert T. Worthington Sr. VP, Chief Risk Officer, Gen. Counsel & Sec. 1975
Mr. Brett Hoover Human Resource Director & Sr. VP 1970
Mr. Mark S. Augustyn Sr. VP & Chief Lending Officer of Mercantile Bank of Michigan NA
Mr. Jeff Kaiser Sr. VP & Head of Risk Management Department NA
Mr. Robert B. Kaminski Jr. President, CEO & Director 1962
Mr. Charles E. Christmas Executive VP, CFO & Treasurer 1966
Mr. Brett E. Hoover Executive VP & Chief Human Resource Officer 1971

Disclaimer - This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
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