MBWM
Income statement / Annual
Last year (2024), Mercantile Bank Corporation's total revenue was $361.89 M,
an increase of 19.24% from the previous year.
In 2024, Mercantile Bank Corporation's net income was $79.59 M.
See Mercantile Bank Corporation,s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2024
|
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
FY-2015
|
| Period Ended |
12/31/2024 |
12/31/2023 |
12/31/2022 |
12/31/2021 |
12/31/2020 |
12/31/2019 |
12/31/2018 |
12/31/2017 |
12/31/2016 |
12/31/2015 |
| Operating Revenue |
$361.89 M |
$303.50 M |
$213.92 M |
$198.66 M |
$193.49 M |
$185.29 M |
$160.99 M |
$144.54 M |
$139.50 M |
$128.37 M |
| Cost of Revenue |
$137.82 M
|
$85.51 M
|
$30.15 M
|
$15.13 M
|
$40.12 M
|
$35.55 M
|
$23.00 M
|
$18.75 M
|
$15.49 M
|
$10.15 M
|
| Gross Profit |
$224.08 M
|
$217.99 M
|
$183.77 M
|
$183.52 M
|
$153.37 M
|
$149.74 M
|
$137.99 M
|
$125.80 M
|
$124.01 M
|
$118.21 M
|
| Gross Profit Ratio |
0.62
|
0.72
|
0.86
|
0.92
|
0.79
|
0.81
|
0.86
|
0.87
|
0.89
|
0.91
|
| Research and Development Expenses |
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
| General & Administrative Expenses |
$80.42 M
|
$71.06 M
|
$66.36 M
|
$68.27 M
|
$60.94 M
|
$63.07 M
|
$60.40 M
|
$54.58 M
|
$52.70 M
|
$52.01 M
|
| Selling & Marketing Expenses |
$1.60 M
|
$1.57 M
|
$1.45 M
|
$1.18 M
|
$1.29 M
|
$1.45 M
|
$1.65 M
|
$1.61 M
|
$1.59 M
|
$1.36 M
|
| Selling, General & Administrative Expenses |
$82.03 M
|
$72.62 M
|
$67.81 M
|
$69.44 M
|
$62.23 M
|
$64.74 M
|
$62.05 M
|
$56.19 M
|
$54.29 M
|
$53.37 M
|
| Other Expenses |
$43.76 M
|
$42.67 M
|
$40.17 M
|
$40.37 M
|
$36.29 M
|
$24.54 M
|
$24.13 M
|
$23.53 M
|
$22.83 M
|
$26.01 M
|
| Operating Expenses |
$125.79 M
|
$115.29 M
|
$107.98 M
|
$109.81 M
|
$98.52 M
|
$89.28 M
|
$86.17 M
|
$79.72 M
|
$77.12 M
|
$79.38 M
|
| Cost And Expenses |
$263.61 M
|
$200.80 M
|
$138.13 M
|
$124.94 M
|
$138.64 M
|
$124.83 M
|
$109.17 M
|
$98.46 M
|
$92.61 M
|
$89.54 M
|
| Interest Income |
$321.50 M
|
$271.36 M
|
$181.84 M
|
$143.49 M
|
$148.31 M
|
$158.34 M
|
$141.98 M
|
$125.54 M
|
$118.46 M
|
$112.33 M
|
| Interest Expense |
$130.42 M
|
$77.81 M
|
$23.60 M
|
$19.43 M
|
$26.07 M
|
$33.80 M
|
$21.90 M
|
$15.80 M
|
$12.59 M
|
$11.15 M
|
| Depreciation & Amortization |
$10.51 M
|
$11.50 M
|
$12.95 M
|
$13.68 M
|
$9.43 M
|
$9.55 M
|
$9.77 M
|
$10.36 M
|
$9.58 M
|
$11.65 M
|
| EBITDA |
$108.79 M |
$114.20 M |
$88.74 M |
$87.39 M |
$64.27 M |
$70.01 M |
$61.59 M |
$56.44 M |
$56.46 M |
$50.49 M |
| EBITDA Ratio |
0.3
|
0.38
|
0.41
|
0.44
|
0.33
|
0.38
|
0.38
|
0.39
|
0.4
|
0.39
|
| Operating Income Ratio |
0.27
|
0.34
|
0.35
|
0.37
|
0.28
|
0.33
|
0.32
|
0.32
|
0.34
|
0.3
|
| Total Other Income/Expenses Net |
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
$0.00
|
| Income Before Tax |
$98.29 M
|
$102.70 M
|
$75.79 M
|
$73.72 M
|
$54.85 M
|
$60.46 M
|
$51.82 M
|
$46.08 M
|
$46.89 M
|
$38.83 M
|
| Income Before Tax Ratio |
0.27
|
0.34
|
0.35
|
0.37
|
0.28
|
0.33
|
0.32
|
0.32
|
0.34
|
0.3
|
| Income Tax Expense |
$18.69 M
|
$20.48 M
|
$14.73 M
|
$14.70 M
|
$10.71 M
|
$11.00 M
|
$9.80 M
|
$14.81 M
|
$14.97 M
|
$11.81 M
|
| Net Income |
$79.59 M
|
$82.22 M
|
$61.06 M
|
$59.02 M
|
$44.14 M
|
$49.46 M
|
$42.02 M
|
$31.27 M
|
$31.91 M
|
$27.02 M
|
| Net Income Ratio |
0.22
|
0.27
|
0.29
|
0.3
|
0.23
|
0.27
|
0.26
|
0.22
|
0.23
|
0.21
|
| EPS |
4.93 |
5.13 |
3.85 |
3.69 |
2.71 |
3.01 |
2.53 |
1.9 |
1.96 |
1.63 |
| EPS Diluted |
4.93 |
5.13 |
3.85 |
3.69 |
2.71 |
3.01 |
2.53 |
1.9 |
1.96 |
1.62 |
| Weighted Average Shares Out |
$16.13 M
|
$16.02 M
|
$15.86 M
|
$15.99 M
|
$16.27 M
|
$16.41 M
|
$16.60 M
|
$16.48 M
|
$16.29 M
|
$16.61 M
|
| Weighted Average Shares Out Diluted |
$16.13 M
|
$16.02 M
|
$15.86 M
|
$15.99 M
|
$16.27 M
|
$16.41 M
|
$16.61 M
|
$16.49 M
|
$16.31 M
|
$16.64 M
|
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