Mercantile Bank Corporation (MBWM) - Quarterly Income Statement

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MBWM
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43.46 (USD) • At close January 14, 2025

Overview | Financials

Numbers are in millions (except for per share data and ratios) USD.

	2024 Q3	2024 Q2	2024 Q1	2023 Q4	2023 Q3	2023 Q2	2023 Q1	2022 Q4	2022 Q3	2022 Q2	2022 Q1	2021 Q4	2021 Q3	2021 Q2	2021 Q1	2020 Q4	2020 Q3	2020 Q2	2020 Q1	2019 Q4	2019 Q3	2019 Q2	2019 Q1	2018 Q4	2018 Q3	2018 Q2	2018 Q1	2017 Q4	2017 Q3	2017 Q2	2017 Q1	2016 Q4	2016 Q3	2016 Q2	2016 Q1	2015 Q4	2015 Q3	2015 Q2	2015 Q1	2014 Q4	2014 Q3	2014 Q2	2014 Q1	2013 Q4	2013 Q3	2013 Q2	2013 Q1	2012 Q4	2012 Q3	2012 Q2	2012 Q1	2011 Q4	2011 Q3	2011 Q2	2011 Q1	2010 Q4	2010 Q3	2010 Q2	2010 Q1	2009 Q4	2009 Q3	2009 Q2	2009 Q1	2008 Q4	2008 Q3	2008 Q2	2008 Q1	2007 Q4	2007 Q3	2007 Q2	2007 Q1	2006 Q4	2006 Q3	2006 Q2	2006 Q1	2005 Q4	2005 Q3	2005 Q2	2005 Q1	2004 Q4	2004 Q3	2004 Q2	2004 Q1	2003 Q4	2003 Q3	2003 Q2	2003 Q1	2002 Q4	2002 Q3	2002 Q2	2002 Q1	2001 Q4	2001 Q3	2001 Q2	2001 Q1	2000 Q4	2000 Q3	2000 Q2	2000 Q1	1999 Q4	1999 Q3	1999 Q2	1999 Q1	1998 Q4	1998 Q3	1998 Q2	1998 Q1
Revenue Numbers are in millions	83.412	88.56	87.592	73.803	58.207	55.196	55.335	58.462	49.629	42.067	40.162	45.166	46.692	44.369	42.996	46.182	42.816	41.555	36.867	38.48	38.281	37.45	37.277	36.188	34.548	33.775	34.58	32.905	33.249	31.235	31.36	31.039	31.734	31.164	32.968	29.705	29.902	29.062	28.543	28.506	28.888	17.841	12.57	14.286	13.677	13.084	13.281	13.8	13.641	13.451	13.803	14.358	14.099	14.861	15.201	15.992	16.224	16.417	16.961	16.484	14.898	14.017	13.492	14.323	13.545	12.35	13.273	14.608	15.557	15.369	15.892	16.676	16.909	16.921	16.342	16.86	15.402	14.826	13.865	13.188	12.012	11.001	10.528	10.039	9.116	8.746	7.771	7.607	7.201	6.296	5.603	5.572	4.79	4.063	3.871	3.63	3.547	3.27	3.021	2.7	2.9	2.5	2.1	1.91	1.54	0.97	0.61
Cost of Revenue Numbers are in millions	-9.667	9.681	10.868	65,870.6	-12.946	-65,862.804	5.15	0	0	0	0	-0.001	0	0	0	0	0	0	0	0	0	0	0	-0.001	0	0	0	0	0	0	0	0.001	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit Numbers are in millions	93.079	78.879	76.724	-65,796.797	71.153	65,918	50.185	58.462	49.629	42.067	40.162	45.167	46.692	44.369	42.996	46.182	42.816	41.555	36.867	38.48	38.281	37.45	37.277	36.189	34.548	33.775	34.58	32.905	33.249	31.235	31.36	31.038	31.734	31.164	32.968	29.705	29.902	29.062	28.543	28.506	28.888	17.841	12.57	14.286	13.677	13.084	13.281	13.8	13.641	13.451	13.803	14.358	14.099	14.861	15.201	15.992	16.224	16.417	16.961	16.484	14.898	14.017	13.492	14.323	13.545	12.35	13.273	14.608	15.557	15.369	15.892	16.676	16.909	16.921	16.342	16.86	15.402	14.826	13.865	13.188	12.012	11.001	10.528	10.039	9.116	8.746	7.771	7.607	7.201	6.296	5.603	5.572	4.79	4.063	3.871	3.63	3.547	3.27	3.021	2.7	2.9	2.5	2.1	1.91	1.54	0.97	0.61
Gross Profit Ratio Numbers are in millions	1.116	0.891	0.876	-891.519	1.222	1,194.253	0.907	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Reseach & Development Expenses Numbers are in millions	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
General & Administrative Expenses Numbers are in millions	20.292	17.913	18.237	20.658	17.258	16.461	16.682	20.438	19.795	18.767	18.483	22.159	18.721	18.969	17.703	18.058	19.41	16.759	16.011	16.232	16.022	15.581	15.231	15.025	15.082	14.894	14.465	13.92	13.957	13.208	13.493	12.683	13.5	13.136	13.379	13.19	13.058	13.429	12.331	10.759	11.016	7.261	5.407	5.393	5.813	5.435	5.233	6.21	5.143	5.151	4.995	7.808	5.275	5.083	5.287	7.941	5.746	5.726	5.851	3.61	6.018	7.043	6.186	5.462	5.584	5.673	5.774	5.546	5.425	6.521	5.384	4.804	4.731	4.683	4.765	5.088	4.983	4.405	4.159	3.574	3.589	3.51	3.283	3.086	3.029	2.759	2.497	2.123	2.02	1.95	1.678	1.599	1.467	1.402	1.244	1.042	1.168	1.126	0.938	1	0.9	0.8	0.7	1.69	1.42	1.27	1.76
Selling & Marketing Expenses Numbers are in millions	0	21.056	21.455	1.565	0	0	0	1.445	0	0	0	1.175	0	0	0	1.292	0	0	0	1.446	0	0	0	1.648	0	0	0	1.608	0	0	0	1.586	0	0	0	1.363	0	0	0	1.315	0	0	0	1.113	0	0	0	1.167	0	0	0	0.747	0	0	0	0.906	0	0	0	0.65	0	0	0	0.559	0	0	0	0.585	0	0	0	0.6	0	0	0	0.554	0	0	0	0.465	0	0	0	0.325	0	0	0	0.3	0	0	0	0.248	0	0	0	0.197	0	0	0	0.2	0	0	0	2.04	1.71	1.3	0.58
SG&A Numbers are in millions	20.292	17.913	18.237	22.223	17.258	16.461	16.682	20.438	19.795	18.767	18.483	22.159	18.721	18.969	17.703	18.058	19.41	16.759	16.011	16.232	16.022	15.581	15.231	15.025	15.082	14.894	14.465	13.92	13.957	13.208	13.493	12.683	13.5	13.136	13.379	13.19	13.058	13.429	12.331	10.759	11.016	7.261	5.407	5.393	5.813	5.435	5.233	6.21	5.143	5.151	4.995	8.555	5.275	5.083	5.287	8.847	5.746	5.726	5.851	4.26	6.018	7.043	6.186	6.021	5.584	5.673	5.774	6.131	5.425	6.521	5.384	5.404	4.731	4.683	4.765	5.642	4.983	4.405	4.159	4.039	3.589	3.51	3.283	3.411	3.029	2.759	2.497	2.423	2.02	1.95	1.678	1.847	1.467	1.402	1.244	1.238	1.168	1.126	0.938	1.2	0.9	0.8	0.7	3.73	3.13	2.57	2.34
Other Expenses Numbers are in millions	37.667	-8.681	-8.489	-48.594	-45.166	-65,890.727	23.656	-8.273	-43.698	-40.985	-39.328	-47.593	-42.067	-36.1	-37.868	-40.728	-42.948	-40.982	-32.084	-30.472	-30.038	-29.865	-29.919	-30.607	-31.486	-31.914	-30.83	0	-30.777	-30.13	-30.674	-28.395	-30.507	-30.382	-30.84	-30.87	-29.375	-30.557	-28.432	-27.381	-28.446	-19.698	-10.19	-9.299	-11.362	-10.068	-9.562	-12.762	-11.744	-9.336	-10.965	-15.88	-11.601	-11.924	-13.358	-20.993	-20.246	-15.093	-17.002	-30.797	-17.63	-16.195	-10.797	-2.899	0.118	-4.103	-4.631	1.179	4.935	3.226	6.398	6.144	6.019	3.886	2.004	-1.356	-1.506	-1.712	-2.684	-3.63	-4.241	-4.01	-3.817	-3.531	-3.376	-2.043	-1.27	-0.835	-0.135	0.091	1.003	1.008	2.863	2.919	3.627	3.446	3.053	2.388	1.833	1.1	0.5	0.3	0.2	0	0	0	0
Operating Expenses Numbers are in millions	57.959	8.681	8.489	-48.594	-45.166	-65,874.266	40.338	57.045	-23.903	-22.218	-20.845	-25.434	-23.346	-17.131	-20.165	-22.67	-23.538	-24.223	-16.073	-14.24	-14.016	-14.284	-14.688	-15.582	-16.404	-17.02	-16.365	40.658	-16.82	-16.922	-17.181	-15.712	-17.007	-17.246	-17.461	-17.68	-16.317	-17.128	-16.101	-16.622	-17.43	-12.437	-4.783	-3.906	-5.549	-4.633	-4.329	-6.552	-6.601	-4.185	-5.97	-7.325	-6.326	-6.841	-8.071	-12.146	-14.5	-9.367	-11.151	-26.537	-11.612	-9.152	-4.611	3.122	5.702	1.57	1.143	7.31	10.36	9.747	11.782	11.548	10.75	8.569	6.769	4.286	3.477	2.693	1.475	0.409	-0.652	-0.5	-0.534	-0.12	-0.347	0.716	1.227	1.588	1.885	2.041	2.681	2.855	4.33	4.321	4.871	4.684	4.221	3.514	2.771	2.3	1.4	1.1	0.9	3.73	3.13	2.57	2.34
Operating Income Numbers are in millions	27.223	23.516	27.688	25.209	25.987	43.734	35.188	34.492	25.726	19.849	19.317	19.733	23.346	27.238	22.831	23.512	19.278	17.332	20.794	24.241	24.265	23.166	22.589	20.607	18.144	16.755	18.215	-136.502	16.429	14.313	14.179	15.326	14.727	13.918	15.507	12.025	13.585	11.934	12.442	11.884	11.458	5.404	7.787	10.38	8.128	8.451	8.952	7.248	7.04	9.266	7.833	7.033	7.773	8.02	7.13	3.846	1.724	7.05	5.81	-10.053	3.286	4.865	8.881	17.445	19.247	13.92	14.416	21.918	25.917	25.116	27.674	28.224	27.659	25.49	23.111	21.146	18.879	17.519	15.34	13.597	11.36	10.501	9.994	9.919	8.769	9.462	8.998	9.195	9.086	8.337	8.284	8.427	9.12	8.384	8.742	8.314	7.768	6.784	5.792	5	4.3	3.6	3	0.21	0.12	-0.3	-1.14
Operating Income Ratio Numbers are in millions	0.326	0.266	0.316	0.342	0.446	0.792	0.636	0.59	0.518	0.472	0.481	0.437	0.5	0.614	0.531	0.509	0.45	0.417	0.564	0.63	0.634	0.619	0.606	0.569	0.525	0.496	0.527	-4.148	0.494	0.458	0.452	0.494	0.464	0.447	0.47	0.405	0.454	0.411	0.436	0.417	0.397	0.303	0.619	0.727	0.594	0.646	0.674	0.525	0.516	0.689	0.567	0.49	0.551	0.54	0.469	0.24	0.106	0.429	0.343	-0.61	0.221	0.347	0.658	1.218	1.421	1.127	1.086	1.5	1.666	1.634	1.741	1.692	1.636	1.506	1.414	1.254	1.226	1.182	1.106	1.031	0.946	0.955	0.949	0.988	0.962	1.082	1.158	1.209	1.262	1.324	1.478	1.512	1.904	2.063	2.258	2.29	2.19	2.075	1.917	1.852	1.483	1.44	1.429	0.11	0.078	-0.309	-1.869
Total Other Income Expenses Net Numbers are in millions	-2.667	-5.266	-5.2	-4.047	-5.489	-5.511	-5.644	-3.125	-4.034	-5.156	-4.221	-7.612	-4.53	-4.344	-4.511	-3.735	-4.119	-3.744	-4.092	-0.388	-3.679	-4.256	-0.505	-2.043	-4.261	-4.309	-4.362	-2.55	-4.362	-4.822	-3.004	-2.249	-4.468	-4.42	-1.782	-4.004	-4.895	-5.329	-5.19	-3.649	-6.396	-6.307	-2.082	1.528	-3.785	-0.5	-0.39	-1.236	-3.184	-3.419	-3.684	-4.071	-4.749	-5.302	-5.71	-6.836	-6.075	-1.225	-3.073	-10.618	-12.326	-14.416	-7.335	-17.629	-18.115	-4.627	-6.156	-22.218	-22.729	-22.136	-21.541	-21.445	-20.128	-18.1	-16	-14.358	-12.692	-10.738	-9.05	-7.637	-6.963	-6.13	-5.865	-5.747	-5.797	-5.922	-5.881	-6.032	-6.036	-5.904	-6.006	-6.316	-7.178	-7.314	-7.394	-7.041	-6.608	-5.844	-5.067	-4.3	-3.5	-3	-2.7	0	0	0	0
Income Before Tax Numbers are in millions	24.556	23.516	26.985	25.209	25.987	25.367	26.136	26.871	19.973	14.625	14.32	15.219	18.582	22.335	17.579	17.741	13.193	10.739	13.177	15.845	15.554	14.463	14.597	14.23	12.498	11.661	13.433	12.457	12.039	10.603	10.984	12.045	11.471	10.871	12.5	9.108	10.709	9.312	9.702	8.91	8.547	2.475	5.263	7.701	5.455	5.771	6.197	4.32	3.856	5.847	4.149	2.962	3.024	2.718	1.42	-2.99	-6.075	-1.225	-3.073	-20.671	-9.04	-9.551	-7.335	-0.184	1.132	-4.627	-6.156	-0.3	3.188	2.98	6.133	6.779	7.531	7.39	7.111	6.788	6.187	6.781	6.29	5.96	4.397	4.371	4.129	4.172	2.972	3.54	3.117	3.163	3.05	2.433	2.278	2.111	1.943	1.071	1.348	1.273	1.16	0.939	0.725	0.7	0.8	0.6	0	0.21	0.12	-0.3	-1.14
Income Before Tax Ratio Numbers are in millions	0.294	0.266	0.308	0.342	0.446	0.46	0.472	0.46	0.402	0.348	0.357	0.337	0.398	0.503	0.409	0.384	0.308	0.258	0.357	0.412	0.406	0.386	0.392	0.393	0.362	0.345	0.388	0.379	0.362	0.339	0.35	0.388	0.361	0.349	0.379	0.307	0.358	0.32	0.34	0.313	0.296	0.139	0.419	0.539	0.399	0.441	0.467	0.313	0.283	0.435	0.301	0.206	0.214	0.183	0.093	-0.187	-0.374	-0.075	-0.181	-1.254	-0.607	-0.681	-0.544	-0.013	0.084	-0.375	-0.464	-0.021	0.205	0.194	0.386	0.407	0.445	0.437	0.435	0.403	0.402	0.457	0.454	0.452	0.366	0.397	0.392	0.416	0.326	0.405	0.401	0.416	0.424	0.386	0.407	0.379	0.406	0.264	0.348	0.351	0.327	0.287	0.24	0.259	0.276	0.24	0	0.11	0.078	-0.309	-1.869
Income Tax Expense Numbers are in millions	4.938	4.73	5.423	5.179	5.132	5.01	5.162	5.068	3.943	2.888	2.828	3.58	3.531	4.244	3.34	3.659	2.507	2.041	2.504	2.528	2.954	2.748	2.773	2.657	2.375	2.215	2.552	4.478	3.702	3.26	3.369	3.96	3.626	3.437	3.951	2.628	3.373	2.754	3.056	2.617	2.6	0.966	1.683	2.538	2.002	1.755	1.797	1.271	1.24	1.856	1.269	-27.361	0.342	0.337	0.332	1.963	-0.718	-0.862	-0.43	15.416	-3.754	-3.326	-2.846	-0.496	0.053	-2.015	-2.418	-0.395	0.821	0.759	1.85	2.174	2.329	2.279	2.182	2.239	1.887	2.091	1.928	1.472	1.283	1.225	1.156	1.157	0.744	1	0.884	0.882	0.894	0.717	0.674	0.658	0.605	0.294	0.433	0.393	0.382	0.303	0.225	0	0.2	0.1	2.6	2.04	1.71	1.3	0.58
Net Income Numbers are in millions	19.618	18.786	21.562	20.03	20.855	20.357	20.974	21.803	16.03	11.737	11.492	11.639	15.051	18.091	14.239	14.082	10.686	8.698	10.673	13.317	12.6	11.715	11.824	11.574	10.123	9.446	10.881	7.979	8.337	7.343	7.615	8.085	7.845	7.434	8.549	6.48	7.336	6.558	6.646	6.293	5.947	1.509	3.58	5.163	3.453	4.016	4.4	3.048	2.616	3.288	2.552	29.991	2.682	2.381	1.088	-4.953	-5.357	-0.363	-2.643	-36.087	-5.286	-6.225	-4.489	0.312	1.079	-2.612	-3.738	0.095	2.367	2.221	4.283	4.605	5.202	5.111	4.929	4.549	4.3	4.69	4.362	4.488	3.114	3.146	2.973	3.015	2.228	2.54	2.233	2.281	2.156	1.716	1.604	1.453	1.338	0.777	0.915	0.88	0.778	0.636	0.5	0.7	0.6	0.5	0.4	0.21	0.12	-0.3	-1.14
Net Income Ratio Numbers are in millions	0.235	0.212	0.246	0.271	0.358	0.369	0.379	0.373	0.323	0.279	0.286	0.258	0.322	0.408	0.331	0.305	0.25	0.209	0.29	0.346	0.329	0.313	0.317	0.32	0.293	0.28	0.315	0.242	0.251	0.235	0.243	0.26	0.247	0.239	0.259	0.218	0.245	0.226	0.233	0.221	0.206	0.085	0.285	0.361	0.252	0.307	0.331	0.221	0.192	0.244	0.185	2.089	0.19	0.16	0.072	-0.31	-0.33	-0.022	-0.156	-2.189	-0.355	-0.444	-0.333	0.022	0.08	-0.211	-0.282	0.007	0.152	0.145	0.27	0.276	0.308	0.302	0.302	0.27	0.279	0.316	0.315	0.34	0.259	0.286	0.282	0.3	0.244	0.29	0.287	0.3	0.299	0.273	0.286	0.261	0.279	0.191	0.236	0.242	0.219	0.195	0.166	0.259	0.207	0.2	0.19	0.11	0.078	-0.309	-1.869
EPS Numbers are in millions	1.22	1.17	1.34	1.25	1.3	1.27	1.31	1.37	1.01	0.74	0.73	0.74	0.95	1.12	0.87	0.87	0.66	0.54	0.65	0.81	0.77	0.71	0.72	0.7	0.61	0.57	0.66	0.48	0.51	0.45	0.46	0.49	0.48	0.46	0.52	0.4	0.45	0.39	0.39	0.37	0.35	0.13	0.41	0.59	0.4	0.46	0.51	0.35	0.3	0.38	0.3	3.52	0.31	0.28	0.13	-0.58	-0.63	-0.043	-0.31	-4.25	-0.62	-0.73	-0.53	0.037	0.13	-0.31	-0.44	0.011	0.28	0.26	0.49	0.52	0.62	0.58	0.54	0.52	0.49	0.51	0.48	0.54	0.35	0.38	0.35	0.35	0.33	0.39	0.34	0.35	0.33	0.26	0.24	0.22	0.25	0.14	0.25	0.25	0.22	0.18	0.14	0.2	0.12	0.1	0.079	0.06	0.04	-0.14	-0.54
EPS Diluted Numbers are in millions	1.22	1.17	1.34	1.25	1.3	1.27	1.31	1.37	1.01	0.74	0.73	0.74	0.95	1.12	0.87	0.87	0.66	0.54	0.65	0.81	0.77	0.71	0.72	0.7	0.61	0.57	0.66	0.48	0.51	0.45	0.46	0.49	0.48	0.46	0.52	0.4	0.45	0.39	0.39	0.37	0.35	0.13	0.41	0.59	0.4	0.46	0.5	0.35	0.3	0.36	0.28	3.52	0.3	0.27	0.12	-0.58	-0.63	-0.043	-0.31	-4.24	-0.62	-0.73	-0.53	0.037	0.13	-0.31	-0.44	0.011	0.28	0.26	0.48	0.52	0.61	0.57	0.53	0.52	0.48	0.5	0.47	0.54	0.35	0.37	0.34	0.35	0.32	0.38	0.33	0.35	0.32	0.26	0.24	0.22	0.25	0.14	0.25	0.25	0.22	0.18	0.14	0.2	0.12	0.1	0.069	0.06	0.04	-0.14	-0.54
EBITDA Numbers are in millions	27.223	26.223	29.758	27.848	28.914	28.248	29.185	29.961	23.136	17.859	17.778	18.698	22.027	25.633	21.593	20.904	16.469	13.512	14.736	18.401	18.195	17.363	17.28	19.427	14.915	14.106	15.916	0	14.507	13.407	13.532	14.891	13.926	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2.34	1.9	1.07	-0.52
EBITDA Ratio Numbers are in millions	0.326	0.266	-0.008	0.342	0.446	792.34	0.691	0.643	0.582	0.549	0.567	0.514	0.574	0.688	0.611	0.578	0.517	0.475	0.591	0.696	0.693	0.687	0.664	0.636	0.595	0.568	0.599	0.592	0.568	0.548	0.533	0.585	0.541	0.495	0.554	0.508	0.555	0.505	0.535	0.518	0.492	0.384	0.66	0.767	0.634	0.687	0.716	0.566	0.559	0.732	0.604	0.525	0.59	0.578	0.507	0.276	0.141	0.472	0.379	-0.585	0.268	0.401	0.711	1.271	1.479	1.183	1.126	1.554	1.717	1.688	1.783	1.724	1.682	1.553	1.462	1.299	1.273	1.221	1.142	1.065	0.979	0.994	0.988	1.032	1.021	1.141	1.216	1.267	1.306	1.373	1.532	1.563	1.939	2.098	2.274	2.332	2.231	2.12	1.966	1.926	1.517	1.48	1.476	1.225	1.234	1.103	-0.852

Mercantile Bank Corporation

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