MBWM
Income statement / Annual
Last year (2023), Mercantile Bank Corporation's total revenue was $303.50 M,
an increase of 59.47% from the previous year.
In 2023, Mercantile Bank Corporation's net income was $82.22 M.
See Mercantile Bank Corporation’s key income statements, including revenue, expenses, profit, and income.
| Period |
FY-2023
|
FY-2022
|
FY-2021
|
FY-2020
|
FY-2019
|
FY-2018
|
FY-2017
|
FY-2016
|
FY-2015
|
FY-2014
|
| Period Ended |
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 |
12/31/2014 |
| Operating Revenue |
$303.50 M
|
$190.32 M
|
$179.22 M
|
$167.42 M
|
$151.49 M
|
$139.09 M
|
$128.75 M
|
$126.91 M
|
$117.21 M
|
$87.81 M
|
| Cost of Revenue |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
| Gross Profit |
$303.50 M |
$190.32 M |
$179.22 M |
$167.42 M |
$151.49 M |
$139.09 M |
$128.75 M |
$126.91 M |
$117.21 M |
$87.81 M |
| Gross Profit Ratio |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
1 |
| 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 |
$71.06 M
|
$77.48 M
|
$77.55 M
|
$70.24 M
|
$63.07 M
|
$59.47 M
|
$54.58 M
|
$52.70 M
|
$52.01 M
|
$34.89 M
|
| Selling & Marketing
Expenses |
$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
|
$1.32 M
|
| Selling, General &
Administrative Expenses |
$72.62 M
|
$77.48 M
|
$77.55 M
|
$70.24 M
|
$63.07 M
|
$59.47 M
|
$54.58 M
|
$52.70 M
|
$52.01 M
|
$34.89 M
|
| Other Expenses |
-$33.87 M |
-$168.42 M |
-$183.06 M |
-$182.81 M |
-$154.10 M |
-$127.42 M |
-$121.45 M |
-$120.13 M |
-$119.23 M |
-$86.16 M |
| Operating Expenses |
$225.69 M |
-$90.94 M |
-$105.51 M |
-$112.57 M |
-$91.03 M |
-$65.37 M |
-$66.87 M |
-$67.43 M |
-$67.23 M |
-$51.27 M |
| Cost And Expenses |
$180.11 M |
-$90.94 M |
-$105.51 M |
-$112.57 M |
-$91.03 M |
-$65.37 M |
-$66.87 M |
-$67.43 M |
-$67.23 M |
-$51.27 M |
| Interest Income |
$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 |
$89.12 M |
| Interest Expense |
$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 |
$11.34 M |
| Depreciation &
Amortization |
$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
|
$7.61 M
|
| EBITDA |
$0.00
|
$88.74 M
|
$87.39 M
|
$64.27 M
|
$70.01 M
|
$61.59 M
|
$56.44 M
|
$56.46 M
|
$46.87 M
|
$32.81 M
|
| EBITDA Ratio |
0 |
0.59 |
0.49 |
0.38 |
0.46 |
0.6 |
0.56 |
0.54 |
0.53 |
0.5 |
| Operating Income Ratio
|
0.41
|
0.52
|
0.41
|
0.33
|
0.4
|
0.53
|
0.48
|
0.47
|
0.43
|
0.42
|
| Total Other
Income/Expenses Net |
$0.00
|
-$16.58 M
|
-$20.40 M
|
-$15.69 M
|
-$15.12 M
|
-$15.87 M
|
-$14.74 M
|
-$12.92 M
|
-$19.42 M
|
-$18.35 M
|
| Income Before Tax |
$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 |
$25.20 M |
| Income Before Tax Ratio
|
0.34
|
0.4
|
0.41
|
0.33
|
0.4
|
0.37
|
0.36
|
0.37
|
0.33
|
0.29
|
| Income Tax Expense |
$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 |
$7.87 M |
| Net Income |
$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 |
$17.33 M |
| Net Income Ratio |
0.27 |
0.32 |
0.33 |
0.26 |
0.33 |
0.3 |
0.24 |
0.25 |
0.23 |
0.2 |
| EPS |
5.13 |
3.85 |
3.69 |
2.71 |
3.01 |
2.53 |
1.9 |
1.96 |
1.63 |
1.28 |
| EPS Diluted |
5.13 |
3.85 |
3.69 |
2.71 |
3.01 |
2.53 |
1.9 |
1.96 |
1.62 |
1.28 |
| Weighted Average Shares
Out |
$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
|
$13.51 M
|
| Weighted Average Shares
Out Diluted |
$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
|
$13.56 M
|
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