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Mercantile Bank (MBWM) Tax Rate: 2010-2024

Historic Tax Rate for Mercantile Bank (MBWM) over the last 14 years, with Dec 2024 value amounting to 19.42%.

  • Mercantile Bank's Tax Rate fell 669.00% to 13.42% in Q3 2025 from the same period last year, while for Sep 2025 it was 15.43%, marking a year-over-year decrease of 682.00%. This contributed to the annual value of 19.42% for FY2024, which is 250.00% down from last year.
  • Mercantile Bank's Tax Rate amounted to 19.42% in FY2024, which was down 11.42% from 21.93% recorded in FY2023.
  • Mercantile Bank's 5-year Tax Rate high stood at 27.25% for FY2020, and its period low was 19.42% during FY2024.
  • For the 3-year period, Mercantile Bank's Tax Rate averaged around 20.86%, with its median value being 21.22% (2022).
  • Per our database at Business Quant, Mercantile Bank's Tax Rate surged by 905bps in 2020 and then plummeted by 731bps in 2021.
  • Mercantile Bank's Tax Rate (Yearly) stood at 27.25% in 2020, then tumbled by 731bps to 19.93% in 2021, then soared by 128bps to 21.22% in 2022, then skyrocketed by 71bps to 21.93% in 2023, then plummeted by 250bps to 19.42% in 2024.