Mercantile Bank (MBWM) Rent Expense (2010 - 2026)

Mercantile Bank has reported Rent Expense for 17 years, with the latest figure at $2.4 million in Q1 2026.

• For the quarter ending Q1 2026, Rent Expense rose 14.07% year-over-year to $2.4 million; the trailing twelve-month figure through Mar 2026 stood at $8.8 million (up 3.98% YoY), and the FY2025 full-year result was $8.5 million, down 1.53% from the prior year.
• Rent Expense for Q1 2026 stood at $2.4 million, up from $2.1 million in the prior quarter.
• The five-year high for Rent Expense was $2.5 million in Q4 2023, with the low at $2.0 million in Q4 2024.
• Historically, Rent Expense has averaged $2.2 million across 5 years, with a median of $2.1 million in 2024.
• Annual changes were most pronounced in 2023 — Rent Expense increased 14.9% — and 2024, when it slipped 21.14%.
• Mercantile Bank's Rent Expense stood at $2.2 million in 2022, then advanced by 14.9% to $2.5 million in 2023, then decreased by 21.14% to $2.0 million in 2024, then climbed by 6.44% to $2.1 million in 2025, then rose by 14.18% to $2.4 million in 2026.
• The last three Rent Expense figures came in at $2.4 million (Q1 2026), $2.1 million (Q4 2025), and $2.1 million (Q3 2025), per Business Quant data.