About Mercantile Bank Corporation
https://www.mercbank.comMercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.
CEO
Raymond E. Reitsma
Compensation Summary
(Year 2024)
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2007-04-19 | Forward | 21:20 |
| 2006-04-20 | Forward | 21:20 |
ETFs Holding This Stock
Summary
Showing Top 3 of 123
Ratings Snapshot
Rating : A-
Most Recent Analyst Grades
Grade Summary
Showing Top 3 of 3
Price Target
Institutional Ownership
BLACKROCK INC.
Shares:1.56M
Value:$78.5M
BLACKROCK, INC.
Shares:1.43M
Value:$71.95M
DIMENSIONAL FUND ADVISORS LP
Shares:1.05M
Value:$52.67M
Summary
Showing Top 3 of 234
About Mercantile Bank Corporation
https://www.mercbank.comMercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $96.03M ▲ | $34.75M ▲ | $23.76M ▲ | 24.74% ▲ | $1.46 ▲ | $28.78M ▲ |
| Q2-2025 | $93.42M ▲ | $33.38M ▲ | $22.62M ▲ | 24.21% ▲ | $1.39 ▲ | $27.38M ▲ |
| Q1-2025 | $89.04M ▼ | $31.1M ▼ | $19.54M ▼ | 21.94% ▲ | $1.21 ▼ | $25.69M ▲ |
| Q4-2024 | $92.66M ▼ | $33.81M ▲ | $19.63M ▲ | 21.18% ▲ | $1.22 | $25.59M ▼ |
| Q3-2024 | $93.08M | $32.3M | $19.62M | 21.08% | $1.22 | $27.22M |
What's going well?
Revenue, profits, and margins all improved from last quarter. The company keeps a healthy portion of each sale as profit, and there are no unusual charges distorting results.
What's concerning?
Operating expenses are rising a bit faster than revenue, and interest costs remain a significant drag on profits. Lack of R&D or marketing spend details makes it harder to judge future growth investments.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $1.07B ▲ | $6.31B ▲ | $5.65B ▲ | $657.63M ▲ |
| Q2-2025 | $867.19M ▼ | $6.18B ▲ | $5.55B ▲ | $631.52M ▲ |
| Q1-2025 | $918.94M ▼ | $6.14B ▲ | $5.53B ▲ | $608.35M ▲ |
| Q4-2024 | $1.12B ▲ | $6.05B ▲ | $5.47B ▲ | $584.53M ▲ |
| Q3-2024 | $1.03B | $5.92B | $5.33B | $583.31M |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q2-2025 | $22.62M ▲ | $-7.8M ▼ | $-95.26M ▼ | $13.68M ▼ | $-89.39M ▼ | $-10.17M ▼ |
| Q1-2025 | $19.54M ▼ | $-2.98M ▼ | $-82.03M ▲ | $77.45M ▼ | $-7.55M ▼ | $-4.51M ▼ |
| Q4-2024 | $19.63M ▲ | $59.86M ▲ | $-102.96M ▲ | $107.57M ▼ | $64.46M ▼ | $59.27M ▲ |
| Q3-2024 | $19.62M ▲ | $-8.09M ▼ | $-153.87M ▲ | $292.88M ▲ | $130.92M ▲ | $-13.7M ▼ |
| Q2-2024 | $18.79M | $9.11M | $-155.44M | $106.72M | $-39.6M | $8.24M |
Revenue by Products
| Product | Q4-2024 | Q1-2025 | Q2-2025 | Q3-2025 |
|---|---|---|---|---|
 Credit and Debit Card | $0 ▲ | $0 ▲ | $0 ▲ | $0 ▲ |
 Customer Service | $0 ▲ | $0 ▲ | $0 ▲ | $0 ▲ |
 Payroll Processing | $0 ▲ | $0 ▲ | $0 ▲ | $0 ▲ |
 Service Charges on Deposit and Sweep Accounts | $0 ▲ | $0 ▲ | $0 ▲ | $0 ▲ |
CEO
Raymond E. Reitsma
Compensation Summary
(Year 2024)
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2007-04-19 | Forward | 21:20 |
| 2006-04-20 | Forward | 21:20 |
ETFs Holding This Stock
Summary
Showing Top 3 of 123
Ratings Snapshot
Rating : A-
Most Recent Analyst Grades
Grade Summary
Showing Top 3 of 3
Price Target
Institutional Ownership
BLACKROCK INC.
Shares:1.56M
Value:$78.5M
BLACKROCK, INC.
Shares:1.43M
Value:$71.95M
DIMENSIONAL FUND ADVISORS LP
Shares:1.05M
Value:$52.67M
Summary
Showing Top 3 of 234