Dudediligence.

Mercantile Bank Corporation

MBWMNASDAQ · State Commercial Banks
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Fundamentals

Oldest to newest
Revenue, by quarter
$58.0MSep ’24$58.5MDec ’24$57.3MMar ’25$60.9MJun ’25$62.4MSep ’25$62.1MDec ’25$67.6MMar ’26$68.8MJun ’26
Net income, by quarter
$19.6MSep ’24$19.6MDec ’24$19.5MMar ’25$22.6MJun ’25$23.8MSep ’25$22.8MDec ’25$22.7MMar ’26$25.9MJun ’26
Fiscal years, by the month each ended
LineDec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue$180.3M$190.3M$225.7M$231.5M$242.7M
Net income$59.0M$61.1M$82.2M$79.6M$88.8M
Operating cash flow$64.6M$119.9M$66.6M$101.1M$18.0M
Cash$975.2M$96.8M$130.5M$393.0M$473.3M
Shares outstanding15.8M16.0M16.1M16.1M17.2M