Mercantile Bank (MBWM) Tax Rate (2010 - 2026)

Mercantile Bank has reported Tax Rate for 17 years, with the latest figure at 16.85% in Q1 2026.

• For the quarter ending Q1 2026, Tax Rate fell 190.0% year-over-year to 16.85%; the trailing twelve-month figure through Mar 2026 stood at 13.89% (down 475.0% YoY), and the FY2025 full-year result was 14.24%, down 478.0% from the prior year.
• Tax Rate for Q1 2026 stood at 16.85%, up from 12.31% in the prior quarter.
• The five-year high for Tax Rate was 23.9% in Q4 2022, with the low at 12.31% in Q4 2025.
• Historically, Tax Rate has averaged 18.41% across 5 years, with a median of 19.75% in 2023.
• Annual changes were most pronounced in 2022 — Tax Rate surged 1364 bps — and 2025, when it plunged 723 bps.
• Mercantile Bank's Tax Rate stood at 23.9% in 2022, then slipped by 14 bps to 20.54% in 2023, then decreased by 25 bps to 15.5% in 2024, then dropped by 21 bps to 12.31% in 2025, then soared by 37 bps to 16.85% in 2026.
• The last three Tax Rate figures came in at 16.85% (Q1 2026), 12.31% (Q4 2025), and 13.42% (Q3 2025), per Business Quant data.