MERCANTILE BANK CORP — Financial Data
Annual figures from SEC EDGAR XBRL filings (10-K)
These figures are extracted directly from XBRL-tagged financial statements that MERCANTILE BANK CORP filed with the SEC as part of its annual 10-K reports. XBRL (eXtensible Business Reporting Language) is a structured data format the SEC requires for machine-readable financial disclosures. Values shown are as reported — negative figures indicate a loss and are shown in red.
Net Income
The bottom-line profit — what remains after all operating expenses, interest, taxes, and other costs are deducted. A negative value means the company reported a net loss for the year.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $88.75M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $79.59M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $82.22M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $61.06M | Mar 3, 2025 |
| FY2021 | Dec 31, 2021 | $11.64M | Mar 4, 2022 |
| FY2021 | Sep 30, 2021 | $15.05M | Mar 4, 2022 |
| FY2021 | Jun 30, 2021 | $18.09M | Mar 4, 2022 |
| FY2021 | Mar 31, 2021 | $14.24M | Mar 4, 2022 |
| FY2021 | Dec 31, 2020 | $14.08M | Mar 4, 2022 |
| FY2021 | Sep 30, 2020 | $10.69M | Mar 4, 2022 |
Operating Cash Flow
Cash generated from core business operations — a more reliable measure of financial health than net income because it strips out non-cash items like depreciation and one-time charges.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $17.97M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $101.12M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $66.61M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $119.86M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $64.57M | Mar 1, 2024 |
| FY2022 | Dec 31, 2020 | $37.88M | Mar 3, 2023 |
| FY2021 | Dec 31, 2019 | $44.77M | Mar 4, 2022 |
| FY2020 | Dec 31, 2018 | $61.74M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $38.67M | Mar 2, 2020 |
| FY2018 | Dec 31, 2016 | $34.60M | Mar 4, 2019 |
Total Assets
The total value of everything the company owns or controls — cash, investments, receivables, property, equipment, and intangibles. Reported as of fiscal year end.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $6.84B | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $6.05B | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $5.35B | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $4.87B | Mar 1, 2024 |
| FY2022 | Dec 31, 2021 | $5.26B | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $4.44B | Mar 4, 2022 |
| FY2020 | Dec 31, 2019 | $3.63B | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $3.36B | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $3.29B | Mar 4, 2019 |
| FY2017 | Dec 31, 2016 | $3.08B | Mar 5, 2018 |
Total Liabilities
All financial obligations owed to outside parties — including debt, accounts payable, accrued expenses, and deferred revenue. Subtracting liabilities from total assets gives stockholders' equity.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $6.11B | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $5.47B | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $4.83B | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $4.43B | Mar 1, 2024 |
| FY2022 | Dec 31, 2021 | $4.80B | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $4.00B | Mar 4, 2022 |
| FY2020 | Dec 31, 2019 | $3.22B | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $2.99B | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $2.92B | Mar 4, 2019 |
| FY2017 | Dec 31, 2016 | $2.74B | Mar 5, 2018 |
Stockholders Equity
The net worth attributable to shareholders: total assets minus total liabilities. Also called book value. Can be negative if liabilities exceed assets, which is common in capital-intensive industries.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $724.88M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $584.53M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $522.15M | Feb 27, 2026 |
| FY2025 | Dec 31, 2022 | $441.41M | Feb 27, 2026 |
| FY2024 | Dec 31, 2021 | $456.56M | Mar 3, 2025 |
| FY2023 | Dec 31, 2020 | $441.55M | Mar 1, 2024 |
| FY2022 | Dec 31, 2019 | $416.56M | Mar 3, 2023 |
| FY2021 | Dec 31, 2018 | $375.25M | Mar 4, 2022 |
| FY2020 | Dec 31, 2017 | $365.87M | Mar 5, 2021 |
| FY2019 | Dec 31, 2016 | $340.81M | Mar 2, 2020 |
Goodwill
An intangible asset representing the premium paid above fair value when acquiring another company. A large goodwill balance signals a history of acquisitions at premium prices.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $72.66M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $49.47M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $49.47M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $49.47M | Mar 1, 2024 |
| FY2022 | Dec 31, 2021 | $49.47M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $49.47M | Mar 4, 2022 |
| FY2020 | Dec 31, 2019 | $49.47M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $49.47M | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $49.47M | Mar 4, 2019 |
| FY2017 | Dec 31, 2016 | $49.47M | Mar 5, 2018 |
Retained Earnings
Cumulative net income kept by the company rather than distributed as dividends. A growing retained earnings balance indicates consistent profitability; a deficit indicates cumulative losses.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $399.45M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $334.65M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | $277.53M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | $216.31M | Mar 1, 2024 |
| FY2022 | Dec 31, 2021 | $174.54M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | $134.04M | Mar 4, 2022 |
| FY2020 | Dec 31, 2019 | $107.83M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | $75.48M | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | $61.00M | Mar 4, 2019 |
| FY2017 | Dec 31, 2016 | $40.90M | Mar 5, 2018 |
Cash & Equivalents
Highly liquid assets the company holds — cash on hand, bank balances, and short-term investments with maturities of three months or less. A key indicator of short-term financial health.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2012 | Dec 31, 2012 | $136.00M | Mar 14, 2013 |
| FY2011 | Dec 31, 2011 | $76.37M | Mar 14, 2012 |
| FY2011 | Dec 31, 2010 | $64.20M | Mar 14, 2012 |
| FY2011 | Dec 31, 2009 | $21.74M | Mar 14, 2012 |
| FY2011 | Dec 31, 2008 | $25.80M | Mar 14, 2012 |
EPS (Basic)
Net income divided by the weighted average shares outstanding. Basic EPS does not account for dilutive securities like options or convertible bonds — use diluted EPS for a more conservative view.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 5 | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | 4 | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | 5 | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | 3 | Mar 3, 2025 |
| FY2021 | Dec 31, 2021 | 0 | Mar 4, 2022 |
| FY2021 | Sep 30, 2021 | 0 | Mar 4, 2022 |
| FY2021 | Jun 30, 2021 | 1 | Mar 4, 2022 |
| FY2021 | Mar 31, 2021 | 0 | Mar 4, 2022 |
| FY2021 | Dec 31, 2020 | 0 | Mar 4, 2022 |
| FY2021 | Sep 30, 2020 | 0 | Mar 4, 2022 |
EPS (Diluted)
Net income divided by the fully diluted share count — including all potential shares from options, warrants, and convertible instruments. The more conservative and widely cited EPS figure.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 5 | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | 4 | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | 5 | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | 3 | Mar 3, 2025 |
| FY2021 | Dec 31, 2021 | 0 | Mar 4, 2022 |
| FY2021 | Sep 30, 2021 | 0 | Mar 4, 2022 |
| FY2021 | Jun 30, 2021 | 1 | Mar 4, 2022 |
| FY2021 | Mar 31, 2021 | 0 | Mar 4, 2022 |
| FY2021 | Dec 31, 2020 | 0 | Mar 4, 2022 |
| FY2021 | Sep 30, 2020 | 0 | Mar 4, 2022 |
Shares Outstanding
Total common shares issued and held by all shareholders, excluding treasury shares. Combined with market price gives market capitalization.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | 17.18M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | 16.15M | Feb 27, 2026 |
| FY2024 | Dec 31, 2023 | 16.13M | Mar 3, 2025 |
| FY2023 | Dec 31, 2022 | 15.99M | Mar 1, 2024 |
| FY2022 | Dec 31, 2021 | 15.84M | Mar 3, 2023 |
| FY2021 | Dec 31, 2020 | 16.33M | Mar 4, 2022 |
| FY2020 | Dec 31, 2019 | 16.43M | Mar 5, 2021 |
| FY2019 | Dec 31, 2018 | 16.53M | Mar 2, 2020 |
| FY2018 | Dec 31, 2017 | 16.59M | Mar 4, 2019 |
| FY2017 | Dec 31, 2016 | 16.42M | Mar 5, 2018 |
Dividends Paid
Cash dividends distributed to common shareholders during the period. Shown as a positive value despite being a cash outflow in the SEC filing.
| Fiscal Year | Period End | Value | Filed |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $23.95M | Feb 27, 2026 |
| FY2025 | Dec 31, 2024 | $22.47M | Feb 27, 2026 |
| FY2025 | Dec 31, 2023 | $21.00M | Feb 27, 2026 |
| FY2024 | Dec 31, 2022 | $19.60M | Mar 3, 2025 |
| FY2023 | Dec 31, 2021 | $18.52M | Mar 1, 2024 |
| FY2022 | Dec 31, 2020 | $17.93M | Mar 3, 2023 |
| FY2021 | Dec 31, 2019 | $17.11M | Mar 4, 2022 |
| FY2020 | Dec 31, 2018 | $27.50M | Mar 5, 2021 |
| FY2019 | Dec 31, 2017 | $12.05M | Mar 2, 2020 |
| FY2018 | Dec 31, 2016 | $18.73M | Mar 4, 2019 |