Mercantile Bank Corp
NASDAQ:MBWM
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| 52 Week Range |
33.62
51.16
|
| Price Target |
|
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Mercantile Bank Corp
Income Statement
Income Statement
Mercantile Bank Corp
| Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||||||||||||||||||||||||||
| Net Interest Income |
65
|
78
|
92
|
101
|
101
|
101
|
102
|
104
|
105
|
106
|
105
|
106
|
108
|
110
|
114
|
116
|
118
|
120
|
121
|
122
|
124
|
125
|
124
|
124
|
122
|
122
|
121
|
122
|
123
|
124
|
125
|
129
|
140
|
158
|
176
|
189
|
196
|
194
|
193
|
192
|
191
|
|
| Interest Income |
76
|
89
|
103
|
112
|
112
|
112
|
114
|
116
|
117
|
119
|
118
|
119
|
122
|
126
|
132
|
135
|
138
|
142
|
146
|
151
|
156
|
158
|
158
|
155
|
150
|
148
|
145
|
144
|
144
|
144
|
145
|
148
|
161
|
182
|
206
|
233
|
256
|
271
|
288
|
301
|
313
|
|
| Interest Expense |
11
|
11
|
12
|
11
|
11
|
11
|
11
|
12
|
12
|
13
|
13
|
13
|
15
|
16
|
17
|
19
|
20
|
22
|
25
|
29
|
32
|
34
|
33
|
31
|
29
|
26
|
24
|
22
|
21
|
19
|
19
|
19
|
20
|
24
|
31
|
44
|
60
|
78
|
95
|
109
|
121
|
|
| Non Interest Income |
8
|
10
|
12
|
14
|
15
|
16
|
19
|
19
|
20
|
21
|
20
|
20
|
19
|
19
|
18
|
18
|
18
|
19
|
21
|
23
|
25
|
27
|
27
|
32
|
38
|
45
|
52
|
56
|
58
|
56
|
52
|
45
|
37
|
32
|
30
|
30
|
32
|
32
|
36
|
38
|
39
|
|
| Revenue |
74
N/A
|
88
+19%
|
104
+18%
|
115
+11%
|
116
+1%
|
117
+1%
|
122
+4%
|
124
+2%
|
126
+1%
|
127
+1%
|
125
-1%
|
125
+0%
|
127
+1%
|
129
+1%
|
132
+3%
|
135
+2%
|
136
+1%
|
139
+2%
|
142
+2%
|
145
+3%
|
149
+3%
|
152
+2%
|
151
0%
|
155
+3%
|
160
+3%
|
167
+5%
|
174
+4%
|
177
+2%
|
181
+2%
|
180
-1%
|
177
-2%
|
174
-2%
|
177
+2%
|
190
+7%
|
206
+8%
|
219
+6%
|
227
+4%
|
226
-1%
|
229
+1%
|
230
+1%
|
230
0%
|
|
| Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
| Loan Loss Provision |
6
|
3
|
2
|
1
|
2
|
1
|
0
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(2)
|
(2)
|
(2)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
0
|
0
|
0
|
(0)
|
3
|
1
|
4
|
5
|
1
|
(0)
|
(7)
|
(7)
|
(9)
|
(9)
|
(8)
|
(8)
|
(10)
|
(8)
|
|
| Non Interest Expense |
(55)
|
(66)
|
(76)
|
(80)
|
(79)
|
(79)
|
(80)
|
(79)
|
(79)
|
(77)
|
(77)
|
(78)
|
(78)
|
(80)
|
(81)
|
(83)
|
(84)
|
(86)
|
(87)
|
(88)
|
(88)
|
(89)
|
(90)
|
(99)
|
(107)
|
(113)
|
(114)
|
(109)
|
(106)
|
(111)
|
(111)
|
(112)
|
(113)
|
(108)
|
(111)
|
(112)
|
(114)
|
(115)
|
(117)
|
(119)
|
(122)
|
|
| Pre-Tax Income |
24
N/A
|
25
+5%
|
30
+18%
|
36
+23%
|
39
+6%
|
39
+0%
|
42
+7%
|
43
+4%
|
44
+2%
|
47
+7%
|
45
-3%
|
45
-1%
|
46
+1%
|
46
+1%
|
49
+5%
|
50
+2%
|
50
+1%
|
52
+3%
|
53
+2%
|
56
+5%
|
59
+5%
|
61
+3%
|
59
-2%
|
55
-6%
|
53
-4%
|
55
+3%
|
59
+8%
|
71
+20%
|
76
+8%
|
74
-3%
|
70
-4%
|
63
-11%
|
64
+2%
|
76
+18%
|
88
+16%
|
98
+12%
|
104
+6%
|
103
-2%
|
104
+1%
|
102
-2%
|
100
-1%
|
|
| Net Income | ||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(8)
|
(8)
|
(9)
|
(11)
|
(12)
|
(12)
|
(13)
|
(13)
|
(14)
|
(15)
|
(14)
|
(14)
|
(14)
|
(14)
|
(13)
|
(12)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(11)
|
(11)
|
(10)
|
(10)
|
(11)
|
(12)
|
(14)
|
(15)
|
(15)
|
(14)
|
(13)
|
(13)
|
(15)
|
(17)
|
(19)
|
(20)
|
(20)
|
(21)
|
(20)
|
(20)
|
|
| Income from Continuing Operations |
16
|
17
|
20
|
25
|
27
|
27
|
29
|
30
|
30
|
32
|
31
|
31
|
31
|
33
|
36
|
38
|
40
|
42
|
43
|
45
|
48
|
50
|
48
|
45
|
43
|
44
|
48
|
57
|
61
|
59
|
56
|
50
|
51
|
61
|
71
|
79
|
84
|
82
|
83
|
81
|
80
|
|
| Net Income (Common) |
16
N/A
|
17
+7%
|
20
+18%
|
25
+25%
|
27
+5%
|
27
+1%
|
29
+7%
|
30
+3%
|
30
+2%
|
32
+5%
|
31
-3%
|
31
0%
|
31
+2%
|
31
0%
|
35
+10%
|
37
+6%
|
38
+5%
|
42
+9%
|
43
+2%
|
45
+5%
|
48
+5%
|
50
+4%
|
48
-2%
|
45
-6%
|
43
-4%
|
44
+2%
|
48
+8%
|
57
+20%
|
61
+8%
|
59
-4%
|
56
-5%
|
50
-11%
|
51
+2%
|
61
+20%
|
71
+15%
|
79
+12%
|
84
+6%
|
82
-2%
|
83
+1%
|
81
-2%
|
80
-2%
|
|
| EPS (Diluted) |
0.95
N/A
|
1.28
+35%
|
1.2
-6%
|
1.5
+25%
|
1.63
+9%
|
1.62
-1%
|
1.76
+9%
|
1.83
+4%
|
1.86
+2%
|
1.96
+5%
|
1.89
-4%
|
1.88
-1%
|
1.91
+2%
|
1.89
-1%
|
2.08
+10%
|
2.2
+6%
|
2.31
+5%
|
2.53
+10%
|
2.6
+3%
|
2.74
+5%
|
2.9
+6%
|
3.01
+4%
|
2.94
-2%
|
2.79
-5%
|
2.66
-5%
|
2.71
+2%
|
2.94
+8%
|
3.54
+20%
|
3.87
+9%
|
3.69
-5%
|
3.54
-4%
|
3.16
-11%
|
3.22
+2%
|
3.85
+20%
|
4.4
+14%
|
4.96
+13%
|
5.25
+6%
|
5.13
-2%
|
5.16
+1%
|
5.05
-2%
|
4.97
-2%
|
|
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