MERCANTILE BANK CORP
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Interest expense | — | — | $77.8M | $23.6M | $19.4M |
| Pretax income | $103.5M | $98.3M | $102.7M | $75.8M | $73.7M |
| Income tax expense | $14.7M | $18.7M | $20.5M | $14.7M | $14.7M |
| Net income | $88.8M | $79.6M | $82.2M | $61.1M | $59.0M |
| Balance Sheet | |||||
| Total assets | $6.8B | $6.1B | $5.4B | $4.9B | $5.3B |
| Total liabilities | $6.1B | $5.5B | $4.8B | $4.4B | $4.8B |
| Stockholders' equity | $724.9M | $584.5M | $522.1M | $441.4M | $456.6M |
| Cash Flow Statement | |||||
| Cash from operations | $18.0M | $101.1M | $66.6M | $119.9M | $64.6M |
| Depreciation and amortization | $5.8M | $10.5M | $11.5M | $12.9M | $13.7M |
| Stock-based compensation | $3.5M | $3.3M | $3.4M | $3.4M | $3.8M |
| Dividends paid | $24.0M | $22.5M | $21.0M | $19.6M | $18.5M |
| Share repurchases | — | — | $0 | $0 | $21.4M |
Shares outstanding 17.3M · Free float 95.8%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.