MERCANTILE BANK CORP
MBWMNasdaq
$57.80
↓ -1.6%Jul 17 close · end-of-day
Price
1Y↑ +23.7%
End-of-day closes; the latest point is the live 15-min-delayed price · split & dividend adjusted · chart by TradingView
Key statistics
Market Cap
$996.3M
Enterprise Value
$996.3M
P/E
10.4
P/S
2.6
P/B
1.4
EV/EBITDA
—
PEG
0.8
FCF Yield
—
Dividend Yield
2.6%
Revenue (TTM)
$379.9M
Net Income (TTM)
$91.9M
Free Cash Flow (TTM)
—
Gross Margin
—
Operating Margin
—
Net Margin
24.2%
ROE
12.5%
ROIC
—
Debt / Equity
—
Net Cash
—
Return 1Y
+22.4%
Company profile
Mercantile Bank of Michigan provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. As of January 18, 2022, the company operated 44 banking offices.
- CEO
- Robert B. Kaminski
- Sector
- Finance, Insurance, And Real Estate
- Industry
- Banking
- Employees
- 670
- Headquarters
- Michigan
- Website
- mercbank.com
Management & directors
- Christmas Charles EEVP & CFO
- Reitsma Raymond E.President and CEO
- Augustyn Mark SEVP&Chief Comm Banking Officer
- Hoover BrettEVP & CHIEF HR OFFICER
- Randall Tara MEVP & Chief Experience Officer
- Setlock Scott PEVP, COO, & SECRETARY
Roles derived from SEC Form 4 filings.
Earnings
MBWM Q1 2026 Earnings
Period ends 2026-03-31
MetricActualYoY
Revenue$97.1M↑ +9.1%
Diluted EPS$1.32↑ +9.1%
Actuals from SEC filings; YoY vs the year-ago quarter. Analyst estimates & surprise require a data feed (coming soon).
Financial statements
| Line item | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $193.5M | $199.7M | $213.9M | $303.5M | $361.9M | $371.8M |
| Gross profit | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — |
| Net income | $44.1M | $59.0M | $61.1M | $82.2M | $79.6M | $88.8M |
| Diluted EPS | $2.71 | $3.69 | $3.85 | $5.13 | $4.93 | $5.47 |
| Operating cash flow | $37.9M | $64.6M | $119.9M | $66.6M | $101.1M | $18.0M |
| Free cash flow | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — |
| Net margin | 22.8% | 29.6% | 28.5% | 27.1% | 22.0% | 23.9% |
| Line item | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $88.6M | $93.1M | $92.7M | $89.0M | $93.4M | $96.0M | $93.3M | $97.1M |
| Gross profit | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — |
| Net income | $18.8M | $19.6M | $19.6M | $19.5M | $22.6M | $23.8M | $22.8M | $22.7M |
| Diluted EPS | $1.17 | $1.22 | $1.20 | $1.21 | $1.39 | $1.46 | $1.41 | $1.32 |
| Operating cash flow | $9.1M | -$8.1M | $59.9M | -$3.0M | -$7.8M | $23.1M | $5.6M | $28.3M |
| Free cash flow | — | — | — | — | — | — | — | — |
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — |
| Net margin | 21.2% | 21.1% | 21.2% | 21.9% | 24.2% | 24.7% | 24.5% | 23.4% |
Company news
Jul 15, 2026
Jul 14, 2026
Analyst estimates
Coming soonConsensus revenue & EPS estimates and price targets will appear here once a forward-estimates data feed is connected.
Insider transactions
BoughtSoldMonthly insider $ volume · trailing 12 months
| Date | Insider | Type | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| 2026-05-22 | Schweihofer Steven | Award | 715 | $0.00 | $0.00 | filing |
| 2026-05-22 | Davenport Michael S. | Award | 753 | $0.00 | $0.00 | filing |
| 2026-05-22 | Eldridge Michelle Larabee | Award | 830 | $0.00 | $0.00 | filing |
| 2026-05-22 | Schmidt Sara A | Award | 715 | $0.00 | $0.00 | filing |
| 2026-05-22 | PRICE MICHAEL H | Award | 1,096 | $0.00 | $0.00 | filing |
| 2026-05-22 | Jones Joseph D | Award | 715 | $0.00 | $0.00 | filing |
| 2026-05-22 | Sanchez Nelson F | Award | 715 | $0.00 | $0.00 | filing |
| 2026-05-22 | RAMAKER DAVID B | Award | 801 | $0.00 | $0.00 | filing |
| 2026-05-22 | MacDonald Richard D | Award | 715 | $0.00 | $0.00 | filing |
| 2026-05-22 | Williams Shoran R | Award | 715 | $0.00 | $0.00 | filing |
| 2026-05-22 | Sparks Amy L | Award | 906 | $0.00 | $0.00 | filing |
| 2026-02-17 | Reitsma Raymond E.· President and CEO | Tax withholding | 4,040 | $54.24 | $219,110.61 | filing |
| 2026-02-17 | CHRISTMAS CHARLES E· EVP & CFO | Tax withholding | 3,021 | $54.24 | $163,844.84 | filing |
| 2026-02-15 | CHRISTMAS CHARLES E· EVP & CFO | Award | 1,326 | $0.00 | $0.00 | filing |
| 2026-02-15 | Reitsma Raymond E.· President and CEO | Award | 1,808 | $0.00 | $0.00 | filing |
| 2026-02-05 | Reitsma Raymond E.· President and CEO | Award | 7,559 | $0.00 | $0.00 | filing |
| 2026-02-05 | Reitsma Raymond E.· President and CEO | Award | 3,779 | $0.00 | $0.00 | filing |
| 2026-02-05 | Hoover Brett· EVP & CHIEF HR OFFICER | Award | 1,888 | $0.00 | $0.00 | filing |
| 2026-02-05 | Hoover Brett· EVP & CHIEF HR OFFICER | Award | 944 | $0.00 | $0.00 | filing |
| 2026-02-05 | CHRISTMAS CHARLES E· EVP & CFO | Award | 2,829 | $0.00 | $0.00 | filing |
| 2026-02-05 | CHRISTMAS CHARLES E· EVP & CFO | Award | 1,414 | $0.00 | $0.00 | filing |
| 2026-02-05 | Setlock Scott P· EVP, COO, & SECRETARY | Award | 2,271 | $0.00 | $0.00 | filing |
| 2026-02-05 | Setlock Scott P· EVP, COO, & SECRETARY | Award | 1,135 | $0.00 | $0.00 | filing |
| 2026-02-05 | Randall Tara M· EVP & Chief Experience Officer | Award | 1,820 | $0.00 | $0.00 | filing |
| 2026-02-05 | Randall Tara M· EVP & Chief Experience Officer | Award | 910 | $0.00 | $0.00 | filing |
Showing the latest 25 transactions — full history in the linked SEC filings.
Fundamentals & filings from SEC EDGAR. Prices adjusted for splits & dividends. Not investment advice.