Mercantile Bank Corporation (MBWM) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Net Interest Income | 55.9M | 51.02M | 52M | 49.48M | 48.55M | 48.36M | 48.29M | 47.07M | 47.36M | 48.65M | 48.96M | 47.55M | 48.38M | 50.66M | 42.38M | 34.33M | 30.89M | 32.53M | 31.12M | 30.87M |
| NII Growth % | 15.15% | 5.49% | 7.68% | 5.11% | 2.51% | -0.59% | -1.37% | -1.01% | -2.11% | -3.97% | 15.54% | 38.53% | 56.66% | 55.7% | 36.15% | 11.19% | 4.58% | 2.15% | 5.47% | 0.98% |
| Net Interest Margin % | 0.8% | 0.75% | 0.82% | 0.8% | 0.79% | 0.8% | 0.82% | 0.84% | 0.87% | 0.91% | 0.93% | 0.93% | 0.99% | 1.04% | 0.84% | 0.68% | 0.6% | 0.62% | 0.63% | 0.65% |
| Interest Income | 85.43M | 82.25M | 85.64M | 81.96M | 80.34M | 82.49M | 83.41M | 78.88M | 76.72M | 73.8M | 71.15M | 65.92M | 60.48M | 58.28M | 48.13M | 39.55M | 35.88M | 37.05M | 35.89M | 35.77M |
| Interest Expense | 29.52M | 31.24M | 33.64M | 32.48M | 31.79M | 34.13M | 35.12M | 31.81M | 29.36M | 25.15M | 22.19M | 18.37M | 12.1M | 7.62M | 5.75M | 5.22M | 5M | 4.51M | 4.76M | 4.9M |
| Loan Loss Provision | -1.8M | 700K | 200K | 1.6M | 2.1M | 1.5M | 1.1M | 3.5M | 1.3M | 1.8M | 3.3M | 2M | 600K | 3.05M | 2.9M | 500K | 100K | -3.4M | 1.9M | -3.1M |
| Non-Interest Income | 11.09M | 11.06M | 10.39M | 11.46M | 8.7M | 10.17M | 9.67M | 9.68M | 10.87M | 8.3M | 9.25M | 7.64M | 6.95M | 7.8M | 7.28M | 7.74M | 9.28M | 12.63M | 15.57M | 13.5M |
| Non-Interest Income % | 11.49% | 11.85% | 10.82% | 12.27% | 9.77% | 10.98% | 10.39% | 10.93% | 12.41% | 10.11% | 11.5% | 10.39% | 10.31% | 11.81% | 13.14% | 16.37% | 20.54% | 25.43% | 30.25% | 27.39% |
| Total Revenue | 96.51M | 93.31M | 96.03M | 93.42M | 89.04M | 92.66M | 93.08M | 88.56M | 87.59M | 82.1M | 80.4M | 73.56M | 67.44M | 66.08M | 55.41M | 47.29M | 45.16M | 49.68M | 51.46M | 49.27M |
| Revenue Growth % | 8.39% | 0.7% | 3.17% | 5.49% | 1.65% | 12.86% | 15.77% | 20.39% | 29.89% | 24.24% | 45.1% | 55.55% | 49.33% | 33.02% | 7.68% | -4.02% | -6.4% | -4.38% | 5.22% | 2.33% |
| Non-Interest Expense | 41.51M | 36.73M | 34.75M | 33.38M | 31.1M | 33.81M | 32.3M | 29.74M | 29.94M | 29.94M | 28.92M | 27.83M | 28.6M | 28.54M | 26.78M | 26.94M | 25.74M | 33.35M | 26.21M | 25.13M |
| Efficiency Ratio | 43.01% | 39.36% | 36.19% | 35.73% | 34.93% | 36.48% | 34.7% | 33.58% | 34.19% | 36.47% | 35.97% | 37.83% | 42.41% | 43.19% | 48.34% | 56.97% | 57% | 67.12% | 50.94% | 51.01% |
| Operating Income | 27.28M | 24.64M | 27.44M | 25.96M | 24.05M | 23.23M | 24.56M | 23.52M | 26.98M | 25.21M | 25.99M | 25.37M | 26.14M | 26.87M | 19.97M | 14.63M | 14.32M | 15.22M | 18.58M | 22.34M |
| Operating Margin % | 28.27% | 26.41% | 28.57% | 27.79% | 27.01% | 25.07% | 26.38% | 26.55% | 30.81% | 30.7% | 32.32% | 34.48% | 38.76% | 40.66% | 36.05% | 30.93% | 31.71% | 30.64% | 36.11% | 45.33% |
| Operating Income Growth % | 13.46% | 6.11% | 11.74% | 10.4% | -10.89% | -7.86% | -5.51% | -7.3% | 3.25% | -6.19% | 30.11% | 73.45% | 82.51% | 76.55% | 7.49% | -34.52% | -18.54% | -14.21% | 40.85% | 107.98% |
| Pretax Income | 27.28M | 24.64M | 27.44M | 25.96M | 24.05M | 23.23M | 24.56M | 23.52M | 26.98M | 25.21M | 25.99M | 25.37M | 26.14M | 26.87M | 19.97M | 14.63M | 14.32M | 15.22M | 18.58M | 22.34M |
| Pretax Margin % | 28.27% | 26.41% | 28.57% | 27.79% | 27.01% | 25.07% | 26.38% | 26.55% | 30.81% | 30.7% | 32.32% | 34.48% | 38.76% | 40.66% | 36.05% | 30.93% | 31.71% | 30.64% | 36.11% | 45.33% |
| Income Tax | 4.6M | 1.8M | 3.68M | 3.34M | 4.51M | 3.6M | 4.94M | 4.73M | 5.42M | 5.18M | 5.13M | 5.01M | 5.16M | 5.07M | 3.94M | 2.89M | 2.83M | 3.58M | 3.53M | 4.24M |
| Effective Tax Rate % | 16.85% | 7.32% | 13.42% | 12.88% | 18.75% | 15.5% | 20.11% | 20.11% | 20.1% | 20.54% | 19.75% | 19.75% | 19.75% | 18.86% | 19.74% | 19.75% | 19.75% | 23.53% | 19% | 19% |
| Net Income | 22.68M | 22.84M | 23.76M | 22.62M | 19.54M | 19.63M | 19.62M | 18.79M | 21.56M | 20.03M | 20.86M | 20.36M | 20.97M | 21.8M | 16.03M | 11.74M | 11.49M | 11.64M | 15.05M | 18.09M |
| Net Margin % | 23.5% | 24.48% | 24.74% | 24.21% | 21.94% | 21.18% | 21.08% | 21.21% | 24.62% | 24.4% | 25.94% | 27.67% | 31.1% | 32.99% | 28.93% | 24.82% | 25.45% | 23.43% | 29.25% | 36.72% |
| Net Income Growth % | 16.11% | 16.38% | 21.1% | 20.4% | -9.39% | -2.02% | -5.93% | -7.72% | 2.8% | -8.13% | 30.1% | 73.44% | 82.51% | 87.33% | 6.5% | -35.12% | -19.29% | -17.35% | 40.85% | 107.99% |
| Net Income (Continuing) | 22.68M | 22.84M | 23.76M | 22.62M | 19.54M | 19.63M | 19.62M | 18.79M | 21.56M | 20.03M | 20.86M | 20.36M | 20.97M | 21.8M | 16.03M | 11.74M | 11.49M | 11.64M | 15.05M | 18.09M |
| EPS (Diluted) | 1.32 | 1.40 | 1.46 | 1.39 | 1.21 | 1.22 | 1.22 | 1.17 | 1.34 | 1.25 | 1.30 | 1.27 | 1.31 | 1.37 | 1.01 | 0.74 | 0.73 | 0.74 | 0.95 | 1.12 |
| EPS Growth % | 9.09% | 14.75% | 19.67% | 18.8% | -9.7% | -2.4% | -6.15% | -7.87% | 2.29% | -8.76% | 28.71% | 71.62% | 79.45% | 85.14% | 6.32% | -33.93% | -16.09% | -14.94% | 43.94% | 107.41% |
| EPS (Basic) | 1.32 | 1.40 | 1.46 | 1.39 | 1.21 | 1.22 | 1.22 | 1.17 | 1.34 | 1.25 | 1.30 | 1.27 | 1.31 | 1.37 | 1.01 | 0.74 | 0.73 | 0.74 | 0.95 | 1.12 |
| Diluted Shares Outstanding | 17.24M | 16.26M | 16.23M | 16.22M | 16.2M | 16.14M | 16.14M | 16.12M | 16.12M | 16.04M | 16.02M | 16M | 16M | 15.89M | 15.86M | 15.85M | 15.84M | 15.7M | 15.86M | 16.12M |