MBWMNasdaqState Commercial BanksFiscal year ends December 31

MERCANTILE BANK CORP

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 31, 2026

$58.42−0.19 (-0.32%)

Close on Oct 19, 2026

Margins

Share of revenue, fiscal years 2011 to 2025

36.6%+10.2 pts over 5 years

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+4.8%	+8.4%	+7.7%	+7.5%
Net income	+11.5%	+13.3%	+15.0%	+12.6%
EPS, diluted	+11.0%	+12.4%	+15.1%	+12.9%
Dividend per share	+7.1%	+6.0%	+6.0%	–

Measure	FY2016	FY2020	FY2025
Return on equity	9.5%	10.3%	13.6%
Return on assets	1.1%	1.1%	1.4%
Diluted shares	16M	16M	16M

Return on equity split into margin, efficiency and leverage

Net margin36.6%

Asset turnover0.04×

Equity multiplier9.84×

Return on equity, FY202513.6%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	36.6%	0.04×	9.84×	13.6%
FY2024	34.4%	0.04×	10.31×	14.4%
FY2023	36.4%	0.04×	10.61×	17.1%
FY2022	32.1%	0.04×	11.28×	13.6%
FY2021	32.7%	0.04×	10.79×	13.1%
FY2020	26.4%	0.04×	9.40×	10.3%
FY2019	32.6%	0.04×	8.84×	12.5%
FY2018	30.2%	0.04×	8.97×	11.3%
FY2017	24.3%	0.04×	9.01×	8.9%
FY2016	25.1%	0.04×	8.87×	9.5%

Parsed from the XBRL in Mercantile Bank's annual and quarterly filings with the SEC
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing

Trailing twelve months. Peers are matched on business description, industry and size. Ticks are peers, the dot is MBWM.

Revenue growth11.1% · median 12.9%

Net margin36.5% · median 33.6%

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