Mercantile Bank Corporation
MBWM · NASDAQ
12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | |
|---|---|---|---|---|
| Revenue | $361,891 | $303,501 | $213,916 | $198,656 |
| % Growth | 19.2% | 41.9% | 7.7% | – |
| Cost of Goods Sold | $137,816 | $85,513 | $30,145 | $15,132 |
| Gross Profit | $224,075 | $217,988 | $183,771 | $183,524 |
| % Margin | 61.9% | 71.8% | 85.9% | 92.4% |
| R&D Expenses | $0 | $0 | $0 | $0 |
| G&A Expenses | $80,421 | $71,059 | $66,363 | $68,267 |
| SG&A Expenses | $82,025 | $72,624 | $67,808 | $69,442 |
| Sales & Mktg Exp. | $1,604 | $1,565 | $1,445 | $1,175 |
| Other Operating Expenses | $43,764 | $42,665 | $40,173 | $40,366 |
| Operating Expenses | $125,789 | $115,289 | $107,981 | $109,808 |
| Operating Income | $98,286 | $102,699 | $75,790 | $73,716 |
| % Margin | 27.2% | 33.8% | 35.4% | 37.1% |
| Other Income/Exp. Net | $0 | $0 | $0 | $0 |
| Pre-Tax Income | $98,286 | $102,699 | $75,790 | $73,716 |
| Tax Expense | $18,693 | $20,482 | $14,727 | $14,695 |
| Net Income | $79,593 | $82,217 | $61,063 | $59,021 |
| % Margin | 22% | 27.1% | 28.5% | 29.7% |
| EPS | 4.93 | 5.13 | 3.85 | 3.69 |
| % Growth | -3.9% | 33.2% | 4.3% | – |
| EPS Diluted | 4.93 | 5.13 | 3.85 | 3.69 |
| Weighted Avg Shares Out | 16,131 | 16,016 | 15,860 | 15,987 |
| Weighted Avg Shares Out Dil | 16,131 | 16,016 | 15,860 | 15,987 |
| Supplemental Information | – | – | – | – |
| Interest Income | $321,502 | $271,358 | $181,839 | $143,494 |
| Interest Expense | $130,416 | $77,813 | $23,595 | $19,432 |
| Depreciation & Amortization | $10,505 | $11,496 | $12,945 | $13,678 |
| EBITDA | $108,791 | $114,195 | $88,735 | $87,394 |
| % Margin | 30.1% | 37.6% | 41.5% | 44% |