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About the company
Mercantile Bank Corporation is the bank holding company for Mercantile Bank. Its bank is a state banking company. It provides commercial banking services primarily to small- to medium-sized businesses and retail banking services. Its operations are centered around the West and Central portions of Michigan. It makes secured and unsecured commercial, construction, mortgage and consumer loans, and accepts checking, savings and time deposits. It also enables customers to conduct certain loan and deposit transactions by personal computer and through mobile applications. Its insurance product offerings include private passenger automobiles, homeowners, personal inland marine, boat owners, recreational vehicles, dwelling fire, umbrella policies, small businesses, and life insurance products. It offers a range of loans, such as home equity loans, personal loans, overdraft protection, and student loans.
- Revenue in USD (TTM)206.44m
- Net income in USD70.54m
- Incorporated1997
- Employees601.00
- LocationMercantile Bank Corp310 Leonard St NWGRAND RAPIDS 49504United StatesUSA
- Phone+1 (616) 406-3000
- Fax+1 (616) 406-3737
- Websitehttps://ir.mercbank.com/
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Peer analysis
Key Information
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mid Penn Bancorp Inc | 178.19m | 54.68m | 421.34m | 580.00 | 6.97 | 0.7444 | 6.88 | 2.45 | 3.43 | 3.43 | 10.78 | 32.15 | -- | -- | -- | -- | 1.18 | 0.9347 | -- | -- | -- | -- | 31.85 | 25.03 | -- | -- | -- | 27.61 | 34.28 | 30.42 | 86.93 | 46.01 | -9.19 | 9.00 |
| Cambridge Bancorp | 177.84m | 51.81m | 422.64m | 440.00 | 7.67 | 0.8036 | -- | 2.25 | 7.04 | 7.04 | 25.33 | 67.14 | -- | -- | -- | -- | 0.9862 | 1.07 | -- | -- | -- | -- | 27.67 | 25.76 | -- | -- | -- | 35.08 | 19.83 | 21.19 | -2.09 | 23.23 | 17.09 | 6.46 |
| Arrow Financial Corporation | 129.65m | 48.80m | 428.91m | 512.00 | 6.79 | 0.9373 | 10.08 | 2.87 | 2.95 | 2.95 | 9.01 | 21.36 | -- | -- | -- | -- | 1.22 | 1.24 | -- | -- | -- | -- | 32.70 | 32.60 | -- | -- | -- | 37.18 | 12.20 | 8.90 | -2.12 | 11.57 | -- | 4.60 |
| Camden National Corporation | 186.66m | 57.23m | 430.05m | 630.00 | 7.55 | 0.9248 | 7.00 | 2.31 | 3.90 | 3.90 | 12.71 | 31.87 | -- | -- | -- | -- | 1.03 | 1.25 | -- | -- | -- | -- | 30.79 | 33.71 | -- | -- | -- | 34.20 | 16.37 | 4.89 | -10.97 | 7.53 | -5.15 | 11.70 |
| Central Pacific Financial Corp. | 246.58m | 70.68m | 434.25m | 735.00 | 6.22 | 0.9221 | 5.54 | 1.62 | 2.58 | 2.58 | 9.81 | 17.44 | -- | -- | -- | -- | 0.9538 | 0.9498 | -- | -- | -- | -- | 26.35 | 25.65 | -- | -- | -- | 42.70 | 6.35 | 4.97 | -7.47 | 8.73 | 23.07 | 8.24 |
| Horizon Bancorp Inc | 255.75m | 88.07m | 434.54m | 852.00 | 4.89 | 0.6175 | 4.40 | 1.81 | 2.02 | 2.02 | 5.48 | 15.95 | -- | -- | -- | -- | 1.15 | 1.28 | -- | -- | -- | -- | 36.77 | 34.18 | -- | -- | -- | 29.83 | 21.60 | 12.93 | 7.25 | 21.32 | 19.04 | 14.14 |
| Metrocity Bankshares Inc | 161.23m | 58.90m | 447.05m | 216.00 | 7.73 | 1.27 | 7.12 | 3.37 | 2.30 | 2.30 | 5.19 | 14.04 | -- | -- | -- | -- | 1.80 | 2.37 | -- | -- | -- | -- | 44.37 | 43.53 | -- | -- | -- | 23.17 | 35.39 | 19.46 | 1.46 | 14.56 | -16.82 | 51.57 |
| Mercantile Bank Corp | 206.44m | 70.54m | 457.10m | 601.00 | 6.44 | 0.9782 | 5.50 | 2.22 | 4.43 | 4.43 | 12.93 | 29.21 | -- | -- | -- | -- | 1.40 | 1.23 | -- | -- | -- | -- | 34.33 | 30.86 | -- | -- | -- | 38.71 | 26.72 | 7.69 | 3.46 | 13.37 | -11.07 | 11.23 |
| Midland States Bancorp Inc | 334.55m | 93.55m | 460.32m | 902.00 | 5.01 | 0.6948 | 4.33 | 1.40 | 4.17 | 4.17 | 14.69 | 35.08 | -- | -- | -- | -- | 1.31 | 0.9266 | -- | -- | -- | -- | 30.37 | 21.59 | -- | -- | -- | 41.00 | 26.89 | 14.53 | 17.71 | 35.99 | -10.91 | 7.71 |
| Farmers National Banc Corp | 160.04m | 51.83m | 464.53m | 546.00 | 8.24 | 1.24 | 8.08 | 2.79 | 1.51 | 1.51 | 4.77 | 10.01 | -- | -- | -- | -- | 1.11 | 1.47 | -- | -- | -- | -- | 31.13 | 34.10 | -- | -- | -- | 30.41 | 22.01 | 12.03 | 16.88 | 19.85 | 41.93 | 24.19 |
| Washington Trust Bancorp Inc | 224.69m | 67.83m | 466.84m | 651.00 | 7.00 | 1.00 | 6.44 | 2.15 | 3.92 | 3.92 | 12.53 | 27.37 | -- | -- | -- | -- | 1.07 | 1.30 | -- | -- | -- | -- | 31.37 | 33.29 | -- | -- | -- | 49.64 | 23.08 | 5.39 | -6.74 | 6.56 | 17.18 | 7.28 |
| Amalgamated Bank | 292.96m | 88.65m | 474.57m | 375.00 | 5.43 | 0.9151 | 10.58 | 1.69 | 2.86 | 2.86 | 9.03 | 16.94 | -- | -- | -- | -- | 1.14 | 0.9392 | -- | -- | -- | -- | 31.61 | 25.68 | -- | -- | -- | 15.07 | 43.19 | 13.20 | 53.91 | 32.38 | -- | -- |
| Luther Burbank Corp | 288.35m | 70.70m | 479.15m | 256.00 | 6.76 | 0.6883 | 6.50 | 2.83 | 1.39 | 1.39 | 3.32 | 13.64 | -- | -- | -- | -- | 0.9086 | 0.8645 | -- | -- | -- | -- | 41.82 | 39.99 | -- | -- | -- | 27.98 | 14.49 | 8.41 | -8.61 | 4.59 | -13.21 | -- |
| Hanmi Financial Corp | 304.21m | 102.13m | 485.07m | 626.00 | 4.73 | 0.7328 | 4.30 | 1.74 | 3.36 | 3.36 | 9.16 | 21.67 | -- | -- | -- | -- | 1.45 | 1.10 | -- | -- | -- | -- | 36.86 | 29.19 | -- | -- | -- | 36.85 | 26.37 | 5.52 | 2.89 | 11.61 | 17.97 | 3.28 |
| Heritage Commerce Corp. | 205.20m | 72.61m | 491.42m | 339.00 | 6.79 | 0.759 | 6.44 | 2.44 | 1.19 | 1.19 | 3.29 | 10.62 | -- | -- | -- | -- | 1.32 | 1.06 | -- | -- | -- | -- | 36.06 | 29.22 | -- | -- | -- | 59.92 | 23.21 | 12.05 | 39.53 | 16.56 | 3.83 | 5.39 |
Data as of Jun 02 2023. Currency figures normalised to Mercantile Bank Corp's reporting currency: US Dollar USD
35.77%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| Dimensional Fund Advisors LPas of 31 Mar 2023 | 1.19m | 7.46% |
| BlackRock Fund Advisorsas of 31 Mar 2023 | 1.14m | 7.12% |
| The Vanguard Group, Inc.as of 31 Mar 2023 | 766.61k | 4.79% |
| Renaissance Technologies LLCas of 31 Mar 2023 | 547.31k | 3.42% |
| The Banc Funds Co LLCas of 31 Mar 2023 | 493.16k | 3.08% |
| SSgA Funds Management, Inc.as of 31 Mar 2023 | 392.72k | 2.46% |
| North Star Asset Management, Inc.as of 31 Mar 2023 | 332.16k | 2.08% |
| Tributary Capital Management LLCas of 31 Mar 2023 | 319.44k | 2.00% |
| Geode Capital Management LLCas of 31 Mar 2023 | 293.18k | 1.83% |
| Stieven Capital Advisors LPas of 31 Mar 2023 | 244.11k | 1.53% |
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Data from 31 Mar 2023 - 31 Mar 2023Source: FactSet Research Systems Inc.
