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MBWM · NASDAQ · Banks - Regional

Mercantile Bank (MBWM)

Runs Michigan-focused community banks with commercial lending, deposits, mortgages, and treasury services.

$58.87

vs last close−0.25 (−0.42%)

In millions of USD, except per-share figures

In millions	Q3 FY23Sep 2023	Q4 FY23Dec 2023	Q1 FY24Mar 2024	Q2 FY24Jun 2024	Q3 FY24Sep 2024	Q4 FY24Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Revenue	80	82	88	89	93	93	89	93	96	93	97	98
Cost of revenue	25	27	31	35	36	36	34	34	34	32	28	29
Gross profit	55	55	57	53	57	57	55	59	62	61	69	69
	29	30	30	30	32	34	31	33	35	37	42	38
	17	22	18	18	20	26	20	20	21	22	27	39
Selling & marketing	0	2	0	0	0	2	0	0	0	0	0	0
General & administrative	17	21	18	18	20	24	20	20	21	22	27	0
Other expenses	12	8	12	12	12	8	12	14	14	15	14	−2
Operating income	26	25	27	24	25	23	24	26	27	25	27	31
	0	0	0	0	0	0	0	0	0	0	0	0
Interest income	71	74	77	79	83	82	80	82	86	82	85	87
Interest expense	22	25	29	32	35	34	32	32	34	31	30	29
Income before tax	26	25	27	24	25	23	24	26	27	25	27	31
Income tax expense	5	5	5	5	5	4	5	3	4	2	5	5
Net income from continuing operations	21	20	22	19	20	20	20	23	24	23	23	26
Net income	21	20	22	19	20	20	20	23	24	23	23	26
EPS, basic	$1.30	$1.25	$1.34	$1.17	$1.22	$1.22	$1.21	$1.39	$1.46	$1.40	$1.32	$1.50
EPS, diluted	$1.30	$1.25	$1.34	$1.17	$1.22	$1.22	$1.21	$1.39	$1.46	$1.40	$1.32	$1.50
Weighted average shares, basic	16	16	16	16	16	16	16	16	16	16	17	17
Weighted average shares, diluted	16	16	16	16	16	16	16	16	16	16	17	17
EBITDA	29	28	30	26	27	26	26	27	29	26	29	33
Depreciation & amortization	3	3	3	3	3	2	2	1	1	1	2	2
EBIT	26	25	27	24	25	23	24	26	27	25	27	31