Mercantile Bank Corporation (MBWM) Financial Statements (2026 and earlier)

Company Profile

Business Address 310 LEONARD STREET NW
GRAND RAPIDS, MI 49504
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)
Annual | Quarterly

3/31/2026
MRQ
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments473,324393,010130,53396,772975,160626,006
Cash and cash equivalent473,324393,010130,53396,772975,160626,006
Financing receivable, accrued interest, after allowance for credit loss✕✕✕16,900   
Total current assets:473,324393,010147,43396,772975,160626,006
Noncurrent Assets
Operating lease, right-of-use asset3,9004,400    
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization62,46853,42750,92851,47657,29858,959
Intangible asset, including goodwill, after accumulated amortization93,04449,47349,47350,05650,82451,909
Goodwill72,65649,47349,47349,47349,47349,473
Intangible asset, excluding goodwill, after accumulated amortization20,388  5831,3512,436
Investment, proportional amortization method, elected, amount 51,500     
Total noncurrent assets:210,912107,300100,401101,532108,122110,868
Other undisclosed assets6,150,9835,551,8515,105,3904,674,3154,174,4673,700,470
TOTAL ASSETS:6,835,2196,052,1615,353,2244,872,6195,257,7494,437,344
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt232,291121,521229,734194,340291,463138,365
Total current liabilities:232,291121,521229,734194,340291,463138,365
Noncurrent Liabilities
Liabilities, other than long-term debt 31,100     
Investment program, proportional amortization method, elected, commitment 31,100     
Total noncurrent liabilities: 31,100     
Other undisclosed liabilities5,846,9445,346,1144,601,3454,236,8714,509,7273,857,425
Total liabilities:6,110,3355,467,6354,831,0794,431,2114,801,1903,995,790
Equity
Equity, attributable to parent724,884584,526522,145441,408456,559441,554
Common stock349,431299,705295,106290,436285,752302,029
Accumulated other comprehensive income (loss)(23,995)(49,825)(50,487)(65,341)(3,729)5,486
Retained earnings399,448334,646277,526216,313174,536134,039
Total equity:724,884584,526522,145441,408456,559441,554
TOTAL LIABILITIES AND EQUITY:6,835,2196,052,1615,353,2244,872,6195,257,7494,437,344

Income Statement (P&L) ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Revenues
(Net Investment Income)		330,194321,502271,358181,839143,494148,313
Cost of revenue
(Provision for Loan, Lease, and Other Losses)		(3,200)(7,400)(7,700)(6,550) (14,050)
Gross profit:326,994314,102263,658175,289143,494134,263
Operating expenses(27,263)(24,019)(22,333)(22,166)(19,309)(19,682)
Other operating income, net
(Noninterest Income, Other Operating Income)		2,5233,6022,7251,9012,7681,116
Operating income:302,254293,685244,050155,024126,953115,697
Nonoperating income
(Bank Owned Life Insurance Income)		3,2932,5551,5001,6781,1641,214
Interest and debt expense   (77,813)(23,595)(19,432)(26,067)
Other undisclosed loss from continuing operations before equity method investments, income taxes      (35,996)
Income from continuing operations before equity method investments, income taxes:305,547296,240167,737133,107108,68554,848
Other undisclosed loss from continuing operations before income taxes(202,054)(197,954)(65,038)(57,317)(34,969) 
Income from continuing operations before income taxes:103,49398,286102,69975,79073,71654,848
Income tax expense(14,740)(18,693)(20,482)(14,727)(14,695)(10,710)
Income from continuing operations:88,75379,59382,21761,06359,02144,138
Income before gain (loss) on sale of properties:✕✕✕✕✕59,02144,138
Net income available to common stockholders, diluted:88,75379,59382,21761,06359,02144,138

Comprehensive Income ($ in thousands)
Annual | Quarterly

3/31/2026
TTM
12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
Net income:88,75379,59382,21761,06359,02144,138
Comprehensive income:88,75379,59382,21761,06359,02144,138
Other undisclosed comprehensive income (loss), net of tax, attributable to parent25,83066214,854(61,612)(9,215)1,791
Comprehensive income (loss), net of tax, attributable to parent:114,58380,25597,071(549)49,80645,929

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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