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About the company
Mercantile Bank Corporation is the bank holding company for Mercantile Bank (The Bank). The Bank is a state banking company that 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 also has banking offices located in the metropolitan Detroit, Michigan area, Traverse City, Michigan, Petoskey, Michigan, Saginaw, Michigan, and Midland, 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.
- Revenue in USD (TTM)325.12m
- Net income in USD77.57m
- Incorporated1997
- Employees662.00
- 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) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Heritage Commerce Corp | 246.98m | 41.99m | 658.46m | 350.00 | 15.68 | 0.946 | 14.48 | 3.73 | 0.6818 | 0.6818 | 2.86 | 11.30 | -- | -- | -- | -- | 0.7797 | 1.00 | -- | -- | -- | -- | 23.81 | 29.52 | -- | -- | -- | 61.86 | 3.59 | 11.21 | -37.11 | 0.0331 | 51.57 | 1.61 |
| OTC Markets Group Inc | 111.06m | 27.36m | 684.79m | 82.00 | 24.68 | 19.12 | 22.80 | 6.17 | 2.31 | 2.31 | 9.37 | 2.98 | 1.23 | -- | 14.08 | -- | 30.19 | 33.42 | 59.54 | 65.66 | 91.15 | 90.87 | 24.63 | 26.90 | -- | -- | -- | 28.55 | 1.06 | 12.06 | -1.09 | 12.86 | -- | -2.09 |
| Farmers & Merchants Bancorp | 272.47m | 88.74m | 720.96m | 373.00 | 8.03 | 1.20 | 7.86 | 3.15 | 123.37 | 123.37 | 317.67 | 825.18 | -- | -- | -- | -- | 1.56 | 1.51 | -- | -- | -- | -- | 38.79 | 37.53 | -- | -- | -- | 16.49 | 7.18 | 11.96 | 0.1619 | 9.56 | -31.18 | 4.97 |
| NB Bancorp Inc | 300.57m | 46.10m | 761.10m | 342.00 | 15.93 | 1.03 | 15.56 | 2.53 | 1.18 | 1.18 | 7.68 | 18.23 | 0.0608 | -- | 16.08 | 878,853.80 | 0.9321 | -- | 5.64 | -- | -- | -- | 15.34 | -- | -- | 1.50 | 0.8566 | -- | 30.31 | -- | 329.00 | -- | -- | -- |
| First Community Bankshares Inc | 145.28m | 50.58m | 763.88m | 583.00 | 15.08 | 1.54 | 13.40 | 4.62 | 2.77 | 2.77 | 8.99 | 27.09 | -- | -- | -- | -- | 1.57 | 1.49 | -- | -- | -- | -- | 30.56 | 30.87 | -- | -- | -- | 41.80 | 6.54 | 9.00 | 7.46 | 5.87 | -19.71 | 4.56 |
| Business First Bancshares Inc | 432.45m | 66.68m | 777.71m | 849.00 | 10.76 | 1.03 | 10.77 | 2.68 | 2.43 | 2.43 | 10.55 | 27.94 | -- | -- | -- | -- | 0.9956 | 1.03 | -- | -- | -- | -- | 24.87 | 24.98 | -- | -- | -- | 21.24 | 17.39 | 32.01 | -9.04 | 20.22 | -16.97 | 6.96 |
| MSC Income Fund Inc | 134.11m | 61.84m | 779.37m | 0.00 | 10.58 | 1.08 | -- | 5.81 | 1.56 | 1.56 | 2.35 | 15.35 | 0.1081 | -- | 427.09 | -- | 4.98 | 4.28 | 5.12 | 4.37 | 56.31 | 58.30 | 46.11 | 42.47 | -- | -- | 0.4423 | 101.31 | 2.62 | 3.82 | -14.58 | 7.37 | -- | -- |
| Metropolitan Bank Holding Corp | 474.81m | 66.84m | 798.55m | 291.00 | 12.67 | 1.12 | -- | 2.84 | 5.91 | 5.91 | 24.85 | 66.68 | -- | -- | -- | -- | 0.887 | 1.01 | -- | -- | -- | -- | 23.80 | 27.43 | -- | -- | -- | 0.00 | 24.77 | 29.26 | -13.29 | 17.57 | -17.38 | -- |
| Central Pacific Financial Corp | 308.90m | 58.23m | 799.03m | 697.00 | 13.83 | 1.44 | 12.10 | 3.10 | 2.14 | 2.14 | 9.48 | 20.60 | -- | -- | -- | -- | 0.786 | 0.8461 | -- | -- | -- | -- | 22.58 | 23.92 | -- | -- | -- | 45.41 | 8.29 | 7.18 | -8.96 | -1.74 | 15.96 | 2.93 |
| Mercantile Bank Corp | 325.12m | 77.57m | 808.68m | 662.00 | 10.37 | 1.33 | 9.30 | 3.51 | 4.80 | 4.80 | 14.27 | 37.47 | -- | -- | -- | -- | 1.34 | 1.32 | -- | -- | -- | -- | 33.65 | 32.76 | -- | -- | -- | 30.02 | 18.48 | 15.22 | -3.19 | 9.98 | -8.75 | 6.02 |
| Amerant Bancorp Inc | 597.37m | -14.36m | 821.52m | 698.00 | -- | 0.9092 | -- | 2.36 | -0.5944 | -0.5944 | 9.19 | 21.60 | -- | -- | -- | -- | -0.1437 | 0.4296 | -- | -- | -- | -- | -4.12 | 11.10 | -- | -- | -- | 20.53 | 8.57 | 13.73 | -148.48 | -- | -12.30 | -- |
| Esquire Financial Holdings Inc | 118.81m | 45.01m | 839.80m | 138.00 | 18.83 | 3.34 | 18.27 | 6.49 | 5.27 | 5.27 | 15.15 | 29.74 | -- | -- | -- | -- | 2.49 | 2.22 | -- | -- | -- | -- | 34.80 | 32.71 | -- | -- | -- | 7.76 | 23.38 | 25.33 | 6.45 | 25.29 | 1.99 | -- |
| Univest Financial Corp | 417.16m | 78.02m | 944.38m | 949.00 | 12.29 | 1.05 | 11.21 | 3.13 | 2.66 | 2.66 | 10.27 | 31.19 | -- | -- | -- | -- | 0.9925 | 1.03 | -- | -- | -- | -- | 25.89 | 25.69 | -- | -- | -- | 31.53 | 10.93 | 14.01 | 6.79 | 0.5182 | 4.88 | 0.9806 |
| Copper Property CTL Pass Through Trust | 99.49m | 72.06m | 945.00m | -- | 13.11 | 0.9524 | 10.47 | 9.50 | 0.9608 | 0.9608 | 1.33 | 13.23 | 0.0852 | -- | 2.73 | -- | 6.17 | -- | 6.39 | -- | 93.75 | -- | 72.43 | -- | -- | -- | 0.00 | -- | -1.18 | -- | 6.68 | -- | -- | -- |
Data as of Jul 03 2025. Currency figures normalised to Mercantile Bank Corp's reporting currency: US Dollar USD
37.49%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| BlackRock Fund Advisorsas of 31 Mar 2025 | 1.29m | 7.99% |
| Dimensional Fund Advisors LPas of 31 Mar 2025 | 1.04m | 6.41% |
| The Vanguard Group, Inc.as of 31 Mar 2025 | 990.73k | 6.14% |
| Renaissance Technologies LLCas of 31 Mar 2025 | 508.39k | 3.15% |
| SSgA Funds Management, Inc.as of 31 Mar 2025 | 454.38k | 2.82% |
| American Century Investment Management, Inc.as of 31 Mar 2025 | 426.63k | 2.64% |
| Geode Capital Management LLCas of 31 Mar 2025 | 388.28k | 2.41% |
| North Star Asset Management, Inc.as of 31 Mar 2025 | 359.33k | 2.23% |
| LSV Asset Managementas of 31 Mar 2025 | 321.49k | 1.99% |
| Tributary Capital Management LLCas of 31 Mar 2025 | 277.82k | 1.72% |
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Data from 31 Mar 2025 - 31 Mar 2025Source: FactSet Research Systems Inc.
