Mercantile Bank Corp
MBWM Nasdaq· State Commercial Banks
Last close · Oct 23, 2026
$61.09
KIRA · Stoqly’s AI analyst, in plain words
- Mercantile Bank Corp had $243M of revenue in fiscal 2025, up 4.8% on the year before. Over five years, revenue changed +7.7% a year on average.
- Mercantile Bank Corp made $88.8M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 12.1% a year.
- Mercantile Bank Corp returned $24.0M to shareholders in fiscal 2025.
- It earned 13.6% on shareholders’ money. Running costs took 56.0% of revenue (the efficiency ratio; lower is better).
Market cap
$1.1B
P/E
10.7x
Revenue
$243M
Net income
$88.8M
Return on equity
13.6%
Efficiency ratio
56.0%
Mercantile Bank Corp in 30 seconds · fiscal 2025
Are sales growing?
+4.8%
Only a little. Sales grew 4.8% last year.
Does it make a profit?
36.6%
Yes. It keeps 36.6% of every sale as profit.
How lean are its costs?
56.0%
Average. Running costs take 56.0% of revenue.
How much does it earn on its capital?
13.6%
Good. It earns 13.6% a year on shareholders’ money.
How is the share priced?
10.7x
One share costs 10.7 times its yearly profit per share.
What Mercantile Bank Corp does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 27, 2026
- Legal name
- MERCANTILE BANK CORP
- CIK
- 0001042729
Mercantile Bank Corp · MBWM
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $180M | $190M | $226M | $231M | $243M |
| Revenue growth | 7.7% | 5.6% | 18.6% | 2.6% | 4.8% |
| Net interest income | $124M | $158M | $194M | $191M | $201M |
| Net income | $59.0M | $61.1M | $82.2M | $79.6M | $88.8M |
| Net margin | 32.7% | 32.1% | 36.4% | 34.4% | 36.6% |
| Diluted EPS | $3.69 | $3.85 | $5.13 | $4.93 | $5.47 |
| Cash | |||||
| Cash from operations | $64.6M | $120M | $66.6M | $101M | $18.0M |
| Dividends paid | $18.5M | $19.6M | $21.0M | $22.5M | $24.0M |
| Share buybacks | $21.4M | $0.0M | $0.0M | — | — |
| Share count change | −1.7% | −0.8% | 1.0% | 0.7% | — |
| Debt and strength | |||||
| Loans, net | $3.4B | — | — | — | — |
| Deposits | $4.1B | $3.7B | $3.9B | $4.7B | $5.3B |
| Shareholders' equity | $457M | $441M | $522M | $585M | $725M |
| Returns and quality | |||||
| Return on equity | 13.1% | 13.6% | 17.1% | 14.4% | 13.6% |
| Return on tangible equity | 14.5% | 15.6% | 17.4% | 14.9% | 14.0% |
| Efficiency ratio | 61.5% | 56.7% | 51.1% | 54.3% | 56.0% |
Insiders bought, 12 months
$0.0M
1 insider
Insiders sold, 12 months
$0.2M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Net income:
- Profit after all expenses, interest and tax.
- Efficiency ratio:
- Noninterest expense as a share of revenue. Lower is better for banks.
- Return on equity:
- Net income as a share of average shareholders' equity.
- Return on tangible equity:
- Net income to common over equity minus goodwill and intangibles.
- Diluted EPS:
- Net income per diluted share.
Mercantile Bank Corp · MBWM
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Return on equity and efficiency ratio
Loans and deposits
Dividends and buybacks
Diluted EPS
KIRA
At $61.09 a share, the company is worth $1.1B: 10.7 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001042729). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.