Mercantile Bank Income Statement (2016-2026) | MBWM

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Income Statement	Jun2021	Sep2021	Dec2021	Mar2022	Jun2022	Sep2022	Dec2022	Mar2023	Jun2023	Sep2023	Dec2023	Mar2024	Jun2024	Sep2024	Dec2024	Mar2025	Jun2025	Sep2025	Dec2025	Mar2026
Revenue & Cost
Provisions (Quarter)	-3.10M	1.90M	-3.40M	0.10M	0.50M	2.90M	3.05M	0.60M	2.00M	3.30M	1.80M	1.30M	3.50M	1.10M	1.50M	2.10M	1.60M	0.20M	-0.70M	-1.80M
Revenue (Quarter)	1.92M	1.32M	1.17M	1.42M	0.46M	0.21M	1.46M	0.98M	0.57M	2.23M	1.54M	0.20M	0.69M	2.26M	2.45M	0.08M	1.97M	2.37M	-3.45M	2.48M
Interest income
Interest income - Loans (Quarter)	33.79M	33.66M	34.62M	33.25M	36.00M	43.81M	53.79M	57.15M	62.01M	65.07M	68.16M	71.27M	72.82M	75.32M	72.52M	71.99M	73.96M	75.04M	70.36M	71.90M
Interest income - Investments (Quarter)
Interest Income - Debt Securities (Quarter)	1.20M	1.34M	-8.26M	4.22M	4.66M	2.00M	8.76M	5.63M	2.21M	2.11M	1.64M	4.50M	5.26M	5.49M	1.68M	4.87M	4.68M	5.84M	4.40M	7.41M
Interest Income - Deposits (Quarter)	0.18M	0.29M	0.29M	0.37M	1.02M	1.62M	1.65M	0.32M	0.80M	2.81M	3.76M	2.03M	2.44M	3.90M	7.17M	2.94M	2.14M	4.30M	6.97M	4.68M
Interest Income - Total (Quarter)	35.77M	35.89M	37.05M	35.88M	39.55M	48.13M	58.28M	60.48M	65.92M	71.15M	73.80M	76.72M	78.88M	83.41M	82.49M	80.34M	81.96M	85.64M	82.25M	85.43M
Interest expenses
Interest Expense - Deposits (Quarter)	2.35M	2.18M	1.87M	1.82M	1.87M	2.30M	4.04M	7.91M	12.38M	16.14M	19.02M	22.22M	24.71M	27.59M	26.87M	25.19M	25.73M	26.82M	24.77M	23.25M
Interest Expense - Debt (Quarter)	0.47M	0.46M	-4.18M	1.86M	1.39M	1.65M	6.97M	0.46M	2.02M	0.69M	9.30M	1.65M	3.25M	3.22M	-1.58M	2.90M	2.90M	2.90M	2.71M	2.24M
Interest Expenses (Quarter)	4.90M	4.76M	4.51M	5.00M	5.22M	5.75M	7.62M	12.10M	18.37M	22.19M	25.15M	29.36M	31.81M	35.12M	34.12M	31.79M	32.48M	33.64M	31.24M	29.52M
Interest Income - Net (Quarter)	30.87M	31.12M	32.53M	30.89M	34.33M	42.38M	50.66M	48.38M	47.55M	48.96M	48.65M	47.36M	47.07M	48.29M	48.36M	48.55M	49.48M	52.00M	51.02M	55.90M
Non-interest income
Interest Income - Total (Quarter)	33.97M	29.22M	35.93M	30.79M	33.83M	39.48M	47.61M	47.78M	45.55M	45.66M	46.85M	46.06M	43.57M	47.19M	46.86M	46.45M	47.88M	51.80M	51.72M	57.70M
Financial Services Fees (Quarter)	1.50M	3.94M	0.78M	1.35M	0.43M	0.57M	1.14M	1.04M	0.75M	0.94M	1.22M	1.34M	0.77M	0.39M	0.72M
Service Charges (Quarter)
Investment Gain (Loss) (Quarter)
Investment Banking Income (Quarter)	7.71M	6.66M	6.85M	3.21M	1.75M	1.83M	1.41M	0.95M	1.62M	2.47M	1.49M	2.09M	2.54M	3.39M	3.77M	2.46M	3.23M	3.51M	3.38M	3.06M
Mortgage Banking (Quarter)	7.70M	6.55M	6.91M	3.28M	1.95M	1.76M	1.67M	1.22M	1.83M	2.78M	1.77M	2.34M	3.02M	3.33M	3.61M	2.65M	3.97M	3.07M	3.33M	2.98M
Card Income (Quarter)
Trading Income (Quarter)
Other Non-Interest Income (Quarter)	0.48M	0.74M	0.18M	0.29M	0.79M	0.24M	0.37M	0.40M	0.60M	0.42M	-0.36M	1.17M	0.44M	0.05M	0.50M	0.06M	0.56M	0.17M	1.33M	0.67M
Non-Interest Income (Quarter)	14.56M	15.57M	12.63M	9.28M	7.74M	7.28M	7.76M	6.95M	7.64M	9.25M	8.30M	10.87M	9.68M	9.67M	10.17M	8.70M	11.46M	10.39M	11.06M	11.69M
Operating Items
Amortization - Intangibles (Quarter)	0.60M	0.60M	0.59M	0.60M	0.63M	0.70M	0.81M	0.88M	0.90M	1.16M	0.24M	0.98M	0.97M	1.06M	1.12M	1.17M	1.18M	1.26M	1.34M	0.86M
Depreciation & Amortization - Total (Quarter)	0.90M	0.93M	0.94M	0.93M	0.94M	0.95M	0.79M	0.82M	0.88M	0.89M	0.87M	0.93M	0.92M	0.94M	0.93M	0.79M	0.83M	0.85M	0.90M	0.96M
Research & Development (Quarter)	2.77M	2.75M	2.97M	2.97M	3.09M	3.14M	3.16M	3.16M	2.88M	3.04M	2.54M	3.29M	3.42M	3.44M	3.63M	3.77M	3.60M	3.94M	3.96M	4.43M
Wages, Salaries and Other (Quarter)	16.19M	15.97M	19.19M	15.51M	15.68M	16.66M	17.28M	16.68M	16.46M	17.26M	18.40M	18.24M	17.91M	20.29M	21.48M	19.56M	20.71M	21.09M	21.84M	23.68M
Rent Expense (Quarter)	1.98M	2.03M	2.07M	2.10M	2.08M	2.00M	2.19M	2.29M	2.10M	2.24M	2.52M	2.29M	2.22M	2.15M	1.99M	2.12M	2.15M	2.12M	2.12M	2.42M
Restructuring Costs (Quarter)																		0.61M	1.19M	0.30M
Other Operating Expenses (Quarter)	1.06M			19.73M				22.33M	21.97M	22.75M	24.01M	23.44M	23.18M	25.78M	27.26M	24.43M	26.80M	27.23M	28.57M	23.12M
Operating Expenses (Quarter)	26.19M	26.21M	33.35M	25.74M	26.94M	26.78M	28.49M	28.60M	27.83M	28.92M	29.94M	29.94M	29.74M	32.30M	33.81M	31.10M	33.38M	34.75M	36.73M	42.11M
EBIT (Quarter)	27.24M	23.35M	19.73M	19.32M	19.85M	25.73M	34.49M	38.24M	43.73M	48.18M	50.36M	56.35M	55.32M	59.68M	57.35M	55.84M	58.44M	61.08M	57.28M	56.81M
Net income details
EBT (Quarter)	22.34M	18.58M	15.22M	14.32M	14.62M	19.97M	26.87M	26.14M	25.37M	25.99M	25.21M	26.98M	23.52M	24.56M	23.23M	24.05M	25.96M	27.44M	26.05M	27.28M
Tax Provisions (Quarter)	4.24M	3.53M	1.56M	2.83M	2.89M	3.94M	5.07M	5.16M	5.01M	5.13M	7.21M	5.42M	4.73M	4.94M	4.00M	4.51M	3.34M	3.68M	1.12M	4.60M
Profit After Tax (Quarter)	18.09M	15.05M	11.64M	11.49M	11.74M	16.03M	21.80M	20.97M	20.36M	20.86M	20.03M	21.56M	18.79M	19.62M	19.63M	19.54M	22.62M	23.76M	22.84M	22.68M
Income from Continuing Operations (Quarter)	18.09M	15.05M	13.66M	11.49M	11.74M	16.03M	21.80M	20.97M	20.36M	20.86M	17.99M	21.56M	18.79M	19.62M	19.23M	19.54M	22.62M	23.76M	24.93M	22.68M
Consolidated Net Income (Quarter)	18.09M	15.05M	13.66M	11.49M	11.74M	16.03M	21.80M	20.97M	20.36M	20.86M	17.99M	21.56M	18.79M	19.62M	19.23M	19.54M	22.62M	23.76M	24.93M	22.68M
Income towards Parent Company (Quarter)	18.09M	15.05M	13.66M	11.49M	11.74M	16.03M	21.80M	20.97M	20.36M	20.86M	17.99M	21.56M	18.79M	19.62M	19.23M	19.54M	22.62M	23.76M	24.93M	22.68M
Net Income towards Common Stockholders (Quarter)	18.09M	15.05M	13.66M	11.49M	11.74M	16.03M	21.80M	20.97M	20.36M	20.86M	17.99M	21.56M	18.79M	19.62M	19.23M	19.54M	22.62M	23.76M	24.93M	22.68M
Additional items
EPS (Basic) (Quarter)	1.12	0.95	0.74	0.73	0.74	1.01	1.37	1.31	1.27	1.30	1.24	1.34	1.17	1.22	1.21	1.21	1.39	1.46	1.41	1.32
EPS (Weighted Average and Diluted) (Quarter)	1.12	0.95	0.74	0.73	0.74	1.01	1.37	1.31	1.27	1.30	1.24	1.34	1.17	1.22	1.21	1.21	1.39	1.46	1.41	1.32
Shares Outstanding (Weighted Average) (Quarter)	16.20M	16.08M	15.99M	15.84M	15.85M	15.85M	15.86M	16.00M	16.00M	16.01M	16.02M	16.12M	16.12M	16.14M	16.13M	16.20M	16.22M	16.25M	16.24M	17.24M
Shares Outstanding (Diluted Average) (Quarter)	16.20M	16.09M	15.99M	15.84M	15.85M	15.86M	15.86M	16.00M	16.00M	16.02M	16.02M	16.12M	16.12M	16.14M	16.13M	16.20M	16.24M	16.25M		17.24M
EBITDA (Quarter)	28.14M	24.27M	20.67M	20.25M	20.78M	26.68M	35.28M	39.06M	44.61M	49.07M	51.23M	57.28M	56.25M	60.61M	58.28M	56.62M	59.27M	61.93M	58.18M	57.77M
Tax Rate (Quarter)	19.00%	19.00%	10.26%	19.75%	19.75%	19.74%	18.86%	19.75%	19.75%	19.75%	28.62%	20.10%	20.11%	20.11%	17.21%	18.75%	12.88%	13.42%	4.30%	16.85%

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Mercantile Bank Income Statement (2016-2026) | MBWM

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