Mercantile Bank Corp. (MBWM)
NASDAQ:MBWM
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Earnings Data
Report Date
Jul 21, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
1.33Last Year’s EPS
1.39Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive operating and financial picture driven by a completed acquisition, strong deposit growth, margin resilience, healthy asset quality and growing fee income. Headwinds include elevated loan payoffs that dampened near-term loan growth, higher operating expenses (including transition and acquisition-related costs), larger low-yield cash balances that compress margins until redeployed, and uncertainty around provisioning and regulatory capital changes. Management's guidance and pipeline suggest mid-single-digit loan growth and stable-to-improving margin through the year, supporting a constructive outlook despite the near-term expense and liquidity headwinds.Company Guidance
Acquisition of Eastern Michigan Completed
Consummation of Eastern Michigan on December 31, 2025; acquisition contributed to deposit growth, loan growth, higher securities balances and helped stabilize net interest margin and liquidity metrics.
Net Interest Margin Resilience
Net interest margin increased 8 basis points to 3.55% despite a 67 basis-point decline in the SOFR 90-day average over the last five quarters, illustrating effective matched funding and margin management.
Strong Asset Quality
Non-performing assets to total assets were 11 basis points (0.11%) as of March 31, 2026; non-performing loans average ~12 basis points over 6.25 years; allowance for credit losses was 1.18% of total loans (~~10x NPAs), indicating strong coverage.
Robust Deposit Growth and Improved Liquidity Mix
Deposits grew 15.8% year-over-year for Q1 2026; loan-to-deposit ratio improved to 89% (from 91% at 12/31/2025 and 98% at 12/31/2024); non-interest-bearing deposits represent ~25% of mix and lower-cost deposits increased (from 20% at end-Q3 2025 to 25% at 3/31/2026).
Multi-Year Compound Growth Rates
Five-year compound annual growth rates: deposits +9.2% and total loans +8.6%; five-year tangible value per share CAGR 9% and five-year EPS CAGR 15.1%, placing the company in the top tier of its proxy group.
Strong Fee Income Expansion
Treasury/relationship-driven fee categories grew materially in Q1 2026 vs Q1 2025: service charges on accounts +35.0%, credit & debit card revenue +17.6%, and mortgage banking income +12.4%.
Net Revenue and Income Growth
Net revenue (net interest income + noninterest income) increased 18.1% to $67.6 million from $57.3 million year-over-year. Reported net income was $22.7 million ($1.32 diluted) vs $19.5 million ($1.21) prior year; adjusted (ex-one-time costs) net income $25.2 million ($1.46).
NII and Earning Asset Growth
Net interest income increased $7.4 million YoY. Average earning assets grew to $6.42 billion from $5.70 billion (increase of $719 million), and average loans increased to $4.83 billion from $4.63 billion (increase of $199 million), largely reflecting the acquisition and organic growth.
Lower Funding Cost
Cost of all deposits declined 46 basis points YoY in Q1 2026, and interest expense declined $2.3 million YoY, helping support NIM despite yield pressures on assets.
Strong Capital Position
Company reported well-capitalized ratios: Mercantile's total risk-based capital ratio reported at 13.8% and Eastern Michigan's at 20.5% as of March 31, 2026, with buffers above regulatory minimums.
High Pipeline and Commercial Commitments
As of March 31, 2026 commitments to make new commercial loans totaled $289 million and commitments to fund existing commercial/residential construction loans totaled $272 million — both five-quarter highs, indicating a strong pipeline to support loan growth guidance.
MBWM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MBWM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 21, 2026 | $53.26 | $51.43 | -3.44% |
Jan 20, 2026 | $49.86 | $50.25 | +0.78% |
Oct 21, 2025 | $43.94 | $44.22 | +0.63% |
Jul 22, 2025 | $47.63 | $46.76 | -1.82% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Mercantile Bank Corp. (MBWM) report earnings?
Mercantile Bank Corp. (MBWM) is schdueled to report earning on Jul 21, 2026, TBA (Confirmed).
What is Mercantile Bank Corp. (MBWM) earnings time?
Mercantile Bank Corp. (MBWM) earnings time is at Jul 21, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is MBWM EPS forecast?
MBWM EPS forecast for the fiscal quarter 2026 (Q2) is 1.33.