Company research
MERCANTILE BANK CORP
CIK 1042729Updated Nov 2, 2026
SecurityMBWM · NASDAQ · equity
MBWM price & chart
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NASDAQ:MBWM on TradingView ↗In the news
Mercantile Bank Corporation Announces Strong Second Quarter 2026 Results ↗
Seeking Alpha
Mercantile Bank Corporation 2026 Q3 - Results - Earnings Call Presentation ↗
Mercantile Bank forecasts 5%-7% annualized 4Q loan growth as it projects $0.6M quarterly cost reduction starting April 1, 2027 ↗
Mercantile Bank Corporation (MBWM) Q3 2026 Earnings Call Transcript ↗
SEC disclosures
MERCANTILE BANK CORP files 8-K: Material Event ↗
Recent filings
10-Q filing
Results of Operations and Financial Condition · Regulation FD Disclosure
Items 2.02, 7.01, 9.01
S-3ASR filing
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02, 9.01
10-Q filing
Show 5 more recent filings
Financials
FY 2025 · USDSource
Source
Source
balance sheet · annual statements
| Line item | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q2 2024 | Q1 2026 | Q1 2025 | Q1 2024 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||||
| AssetsUSD | 6,308,487,000Source | 5,917,127,000Source | 6,819,490,000Source | 6,180,988,000Source | 5,602,388,000Source | 6,945,035,000Source | 6,141,200,000Source | 5,465,953,000Source | 6,835,219,000Source | 6,052,161,000Source | 5,353,224,000Source | 4,872,619,000Source |
| Property, Plant and Equipment, NetUSD | 56,155,000Source | 54,230,000Source | 60,727,000Source | 54,792,000Source | 50,158,000Source | 61,861,000Source | 53,693,000Source | 50,835,000Source | 62,468,000Source | 53,427,000Source | 50,928,000Source | 51,476,000Source |
| GoodwillUSD | 49,473,000Source | 49,473,000Source | 73,689,000Source | 49,473,000Source | 49,473,000Source | 73,689,000Source | 49,473,000Source | 49,473,000Source | 72,656,000Source | 49,473,000Source | 49,473,000Source | 49,473,000Source |
| Operating Lease, Right-of-Use AssetUSD | 4,000,000Source | 4,700,000Source | 3,400,000Source | 4,200,000Source | 4,900,000Source | 3,700,000Source | 4,500,000Source | 4,700,000Source | 3,900,000Source | 4,400,000Source | — | — |
| LIABILITIES AND EQUITY | ||||||||||||
| LiabilitiesUSD | 5,650,857,000Source | 5,333,816,000Source | 6,064,366,000Source | 5,549,469,000Source | 5,051,237,000Source | 6,208,088,000Source | 5,532,854,000Source | 4,929,309,000Source | 6,110,335,000Source | 5,467,635,000Source | 4,831,079,000Source | 4,431,211,000Source |
| Stockholders’ equity: | ||||||||||||
| Preferred Stock, Value, IssuedUSD | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source | 0Source |
| Common Stock, Value, IssuedUSD | 303,463,000Source | 298,704,000Source | 352,339,000Source | 302,294,000Source | 297,591,000Source | 350,645,000Source | 300,732,000Source | 296,065,000Source | 349,431,000Source | 299,705,000Source | 295,106,000Source | 290,436,000Source |
| Retained Earnings (Accumulated Deficit)USD | 382,679,000Source | 320,722,000Source | 434,786,000Source | 364,991,000Source | 306,804,000Source | 415,499,000Source | 348,281,000Source | 293,554,000Source | 399,448,000Source | 334,646,000Source | 277,526,000Source | 216,313,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -28,512,000Source | -36,115,000Source | -32,001,000Source | -35,766,000Source | -53,244,000Source | -29,197,000Source | -40,667,000Source | -52,975,000Source | -23,995,000Source | -49,825,000Source | -50,487,000Source | -65,341,000Source |
| Stockholders' Equity Attributable to ParentUSD | 657,630,000Source | 583,311,000Source | 755,124,000Source | 631,519,000Source | 551,151,000Source | 736,947,000Source | 608,346,000Source | 536,644,000Source | 724,884,000Source | 584,526,000Source | 522,145,000Source | 441,408,000Source |
| Liabilities and EquityUSD | 6,308,487,000Source | 5,917,127,000Source | 6,819,490,000Source | 6,180,988,000Source | 5,602,388,000Source | 6,945,035,000Source | 6,141,200,000Source | 5,465,953,000Source | 6,835,219,000Source | 6,052,161,000Source | 5,353,224,000Source | 4,872,619,000Source |
cash flow · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | — | 971,000Source | 786,000Source | 3,473,000Source | 3,316,000Source | 3,384,000Source | 3,377,000Source |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 2,085,000Source | -397,000Source | -2,036,000Source | -1,353,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | — | — | 28,309,000Source | -2,976,000Source | 17,973,000Source | 101,118,000Source | 66,613,000Source | 119,862,000Source |
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | — | — | — | — | — | — | — | -53,569,000Source | — | — | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | — | — | -24,738,000Source | -82,025,000Source | -105,704,000Source | -425,436,000Source | -395,932,000Source | -554,999,000Source |
| Cash flows from financing activities: | ||||||||||||
| Payments for Repurchase of Common StockUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 0Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | — | — | 102,409,000Source | 77,451,000Source | 168,045,000Source | 586,795,000Source | 363,080,000Source | -443,251,000Source |
| Payments of Ordinary Dividends, Common StockUSD | — | — | — | — | — | — | 6,634,000Source | 5,902,000Source | 23,951,000Source | 22,473,000Source | 21,004,000Source | 19,602,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | — | — | 105,980,000Source | -7,550,000Source | 80,314,000Source | 262,477,000Source | 33,761,000Source | -878,388,000Source |
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | — | — | — | 30,891,000Source | 32,465,000Source | 129,430,000Source | 129,228,000Source | 72,024,000Source | 21,765,000Source |
| Income Taxes Paid, NetUSD | — | — | — | — | — | — | -10,710,000Source | 0Source | 44,842,000Source | 21,400,000Source | 24,850,000Source | 11,200,000Source |
| Additional Financial Items | ||||||||||||
| Bank Owned Life Insurance IncomeUSD | — | — | 858,000Source | 449,000Source | 776,000Source | 561,000Source | 665,000Source | 543,000Source | 3,293,000Source | 2,555,000Source | 1,500,000Source | 1,678,000Source |
| DepreciationUSD | — | — | 1,300,000Source | 1,500,000Source | 1,500,000Source | 1,300,000Source | 1,500,000Source | 1,300,000Source | 5,200,000Source | 6,000,000Source | 6,000,000Source | 6,000,000Source |
| Depreciation, Amortization and Accretion, NetUSD | — | — | — | — | — | — | 1,697,000Source | 1,647,000Source | 5,797,000Source | 10,505,000Source | 11,496,000Source | 12,945,000Source |
| Equipment ExpenseUSD | — | — | 846,000Source | 938,000Source | 988,000Source | 826,000Source | 962,000Source | 787,000Source | 3,357,000Source | 3,716,000Source | 3,464,000Source | 3,614,000Source |
| Gain (Loss) on Disposition of BusinessUSD | — | — | — | — | — | — | — | — | — | — | 0Source | 0Source |
| Gain (Loss) on Sale of Mortgage LoansUSD | — | — | — | — | — | — | 3,056,000Source | 2,464,000Source | 12,589,000Source | 11,800,000Source | 6,532,000Source | 8,197,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | — | — | — | — | — | — | -76,000Source | 0Source | -24,000Source | -13,000Source | -471,000Source | 36,000Source |
| GoodwillUSD | — | — | 49,473,000Source | 49,473,000Source | 73,689,000Source | 49,473,000Source | 73,689,000Source | 49,473,000Source | 72,656,000Source | 49,473,000Source | 49,473,000Source | 49,473,000Source |
| Income Tax Expense (Benefit)USD | — | — | 3,682,000Source | 4,938,000Source | 5,254,000Source | 3,344,000Source | 4,597,000Source | 4,509,000Source | 14,740,000Source | 18,693,000Source | 20,482,000Source | 14,727,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 23,758,000Source | 19,618,000Source | 25,927,000Source | 22,618,000Source | 22,685,000Source | 19,537,000Source | 88,753,000Source | 79,593,000Source | 82,217,000Source | 61,063,000Source |
| Operating Lease, ExpenseUSD | — | — | 300,000Source | 400,000Source | 300,000Source | 300,000Source | 300,000Source | 300,000Source | 1,600,000Source | 1,600,000Source | 2,000,000Source | 1,300,000Source |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | — | — | — | — | — | — | 15,386,000Source | 6,825,000Source | 67,317,000Source | 61,777,000Source | 24,142,000Source | 17,984,000Source |
| Proceeds from Stock Options ExercisedUSD | — | — | — | — | — | — | — | — | — | 0Source | 0Source | 36,000Source |
| Provision for Loan, Lease, and Other LossesUSD | — | — | 200,000Source | 1,100,000Source | -1,800,000Source | 1,600,000Source | -1,800,000Source | 2,100,000Source | 3,200,000Source | 7,400,000Source | 7,700,000Source | 6,550,000Source |
| Financing Receivable, Credit Loss, Expense (Reversal)USD | — | — | 200,000Source | 1,100,000Source | -1,800,000Source | 1,600,000Source | -1,800,000Source | 2,100,000Source | 3,200,000Source | 7,400,000Source | 7,700,000Source | 6,550,000Source |
| Unrealized Gain (Loss) on DerivativesUSD | — | — | — | — | — | — | 17,000Source | -94,000Source | -63,000Source | 203,000Source | -257,000Source | 45,000Source |
| Share-based Payment Arrangement, Expense | — | — | — | — | — | — | —Source | —Source | — | — | — | — |
| Amortization of Intangible Assets | — | — | — | — | —Source | —Source | —Source | —Source | — | — | — | — |
| Goodwill, Impairment Loss | — | — | — | — | — | — | — | —Source | — | — | — | — |
income statement · annual statements
| Line item | Q4 2025 | Q4 2024 | Q3 2025 | Q3 2024 | Q2 2026 | Q2 2025 | Q1 2026 | Q1 2025 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | — | — | 27,440,000Source | 24,556,000Source | 31,181,000Source | 25,962,000Source | 27,282,000Source | 24,046,000Source | 103,493,000Source | 98,286,000Source | 102,699,000Source | 75,790,000Source |
| Income Tax Expense (Benefit)USD | — | — | 3,682,000Source | 4,938,000Source | 5,254,000Source | 3,344,000Source | 4,597,000Source | 4,509,000Source | 14,740,000Source | 18,693,000Source | 20,482,000Source | 14,727,000Source |
| Net Income (Loss) Attributable to ParentUSD | — | — | 23,758,000Source | 19,618,000Source | 25,927,000Source | 22,618,000Source | 22,685,000Source | 19,537,000Source | 88,753,000Source | 79,593,000Source | 82,217,000Source | 61,063,000Source |
| Earnings Per Share, BasicUSD per share | — | — | 1.46Source | 1.22Source | 1.5Source | 1.39Source | 1.32Source | 1.21Source | 5.47Source | 4.93Source | 5.13Source | 3.85Source |
| Earnings Per Share, DilutedUSD per share | — | — | 1.46Source | 1.22Source | 1.5Source | 1.39Source | 1.32Source | 1.21Source | 5.47Source | 4.93Source | 5.13Source | 3.85Source |
| Weighted Average Number of Shares Outstanding, Basicshares | — | — | 16,249,267Source | 16,138,320Source | 17,278,057Source | 16,239,919Source | 17,237,249Source | 16,197,978Source | 16,237,974Source | 16,130,696Source | 16,015,678Source | 15,859,889Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | — | — | 16,249,267Source | 16,138,320Source | 17,278,057Source | 16,239,919Source | 17,237,249Source | 16,197,978Source | — | 16,130,696Source | 16,015,678Source | 15,859,901Source |
| Additional Financial Items | ||||||||||||
| Bank Owned Life Insurance IncomeUSD | — | — | 858,000Source | 449,000Source | 776,000Source | 561,000Source | 665,000Source | 543,000Source | 3,293,000Source | 2,555,000Source | 1,500,000Source | 1,678,000Source |
| Current Income Tax Expense (Benefit)USD | — | — | — | — | — | — | — | — | 12,655,000Source | 19,090,000Source | 22,518,000Source | 16,080,000Source |
| Equipment ExpenseUSD | — | — | 846,000Source | 938,000Source | 988,000Source | 826,000Source | 962,000Source | 787,000Source | 3,357,000Source | 3,716,000Source | 3,464,000Source | 3,614,000Source |
| Interest ExpenseUSD | — | — | — | — | — | — | — | — | — | — | 77,813,000Source | 23,595,000Source |
| InterestExpenseOperatingUSD | — | — | 33,641,000Source | 35,120,000Source | 29,438,000Source | 32,479,000Source | 29,525,000Source | 31,790,000Source | 129,150,000Source | 130,416,000Source | — | — |
| Interest Income (Expense), NetUSD | — | — | 52,002,000Source | 48,292,000Source | 57,258,000Source | 49,479,000Source | 55,901,000Source | 48,548,000Source | 201,044,000Source | 191,086,000Source | 193,545,000Source | 158,244,000Source |
| Labor and Related ExpenseUSD | — | — | 21,094,000Source | 20,292,000Source | 24,608,000Source | 20,711,000Source | 23,679,000Source | 19,557,000Source | 83,198,000Source | 77,924,000Source | 68,801,000Source | 65,124,000Source |
| Operating Lease, ExpenseUSD | — | — | 300,000Source | 400,000Source | 300,000Source | 300,000Source | 300,000Source | 300,000Source | 1,600,000Source | 1,600,000Source | 2,000,000Source | 1,300,000Source |
| Amortization of Intangible Assets | — | — | — | — | —Source | —Source | —Source | —Source | — | — | — | — |
| Goodwill, Impairment Loss | — | — | — | — | — | — | — | —Source | — | — | — | — |