Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
---|---|---|---|---|---|
Income Statement | |||||
Total Revenue | 361.89M | 303.50M | 213.92M | 198.66M | 193.49M |
Gross Profit | 224.07M | 217.99M | 183.77M | 183.52M | 153.37M |
EBITDA | 108.79M | 114.19M | 88.73M | 87.39M | 64.27M |
Net Income | 79.59M | 82.22M | 61.06M | 59.02M | 44.14M |
Balance Sheet | |||||
Total Assets | 6.05B | 5.35B | 4.87B | 5.26B | 4.44B |
Cash, Cash Equivalents and Short-Term Investments | 1.12B | 747.63M | 699.71M | 1.57B | 1.01B |
Total Debt | 648.25M | 836.26M | 640.19M | 693.35M | 559.93M |
Total Liabilities | 5.48B | 4.83B | 4.43B | 4.80B | 4.00B |
Stockholders Equity | 584.53M | 522.14M | 441.41M | 456.56M | 441.55M |
Cash Flow | |||||
Free Cash Flow | 92.59M | 59.93M | 116.84M | 58.97M | 28.89M |
Operating Cash Flow | 101.12M | 66.61M | 119.86M | 64.57M | 37.88M |
Investing Cash Flow | -425.44M | -395.93M | -555.00M | -495.51M | -398.81M |
Financing Cash Flow | 586.79M | 363.08M | -443.25M | 780.09M | 753.20M |
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
---|---|---|---|---|---|---|---|
79 Outperform | $871.87M | 19.52 | 19.66% | 0.63% | 16.18% | 13.78% | |
78 Outperform | $777.02M | 9.51 | 13.77% | 3.78% | 8.72% | -0.45% | |
78 Outperform | $776.43M | 10.73 | 9.77% | 2.14% | 18.39% | -4.12% | |
75 Outperform | $783.40M | 12.15 | 8.82% | 3.98% | 5.20% | -11.06% | |
73 Outperform | $773.22M | 11.86 | 15.67% | 3.58% | 4.94% | 20.77% | |
71 Outperform | $768.27M | 13.30 | 10.94% | 4.63% | 4.38% | 4.94% | |
68 Neutral | $16.93B | 11.67 | 9.79% | 3.89% | 11.83% | -7.56% |
On July 22, 2025, Mercantile Bank Corporation announced a merger agreement with Eastern Michigan Financial Corporation, valued at approximately $95.8 million. The merger, expected to close in the fourth quarter of 2025, will initially result in a two-bank holding structure, with plans to consolidate by 2027. This strategic move aims to strengthen Mercantile’s market position and achieve strategic goals such as lowering the loan-to-deposit ratio and expanding its regional presence. Mercantile also reported robust financial results for the second quarter of 2025, with a net income of $22.6 million, reflecting growth in net interest income and noninterest income, despite a declining net interest margin. The bank’s strong performance was supported by commercial loan expansion, improved asset quality metrics, and a reduced federal income tax expense.
The most recent analyst rating on (MBWM) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on Mercantile Bank stock, see the MBWM Stock Forecast page.
At the annual meeting held on May 22, 2025, Mercantile Bank‘s shareholders voted on several key matters, including the election of eleven directors for a one-year term, the implementation of an Employee Stock Purchase Plan (ESPP) with a 5% discount, the ratification of Plante & Moran, PLLC as the independent registered public accounting firm for 2025, and advisory votes on executive compensation and its frequency. The votes resulted in the approval of all proposed matters, reflecting shareholder support for the company’s governance and strategic initiatives.
The most recent analyst rating on (MBWM) stock is a Buy with a $51.00 price target. To see the full list of analyst forecasts on Mercantile Bank stock, see the MBWM Stock Forecast page.