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Mercantile Bank Corporation  (MBWM)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $35.7200 $0.42 1.190%
Day's High: $36.17 Week Perf: -2.93 %
Day's Low: $ 35.32 30 Day Perf: -3.95 %
Volume (M): 230 52 Wk High: $ 42.82
Volume (M$): $ 8,223 52 Wk Avg: $33.13
Open: $35.32 52 Wk Low: $23.89



 Market Capitalization (Millions $) 572
 Shares Outstanding (Millions) 16
 Employees 558
 Revenues (TTM) (Millions $) 218
 Net Income (TTM) (Millions $) 84
 Cash Flow (TTM) (Millions $) -18
 Capital Exp. (TTM) (Millions $) 7

Mercantile Bank Corporation

Mercantile Bank Corporation is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. As a bank holding company, we are subject to regulation by the Board of Governors of the Federal Reserve System. We were organized on July 15, 1997, under the laws of the State of Michigan, primarily for the purpose of holding all of the stock of Mercantile Bank of Michigan (“our bank”), and of such other subsidiaries as we may acquire or establish. Our bank commenced business on December 15, 1997.

Our bank is a state banking company that operates under the laws of the State of Michigan, pursuant to a charter issued by the Michigan Office of Financial and Insurance Regulation. Our bank’s deposits are insured to the maximum extent permitted by law by the Federal Deposit Insurance Corporation (“FDIC”). Our bank, through its 48 office locations, provides commercial banking services primarily to small- to medium-sized businesses and retail banking services in and around the West and Central portions of Michigan. Our bank’s main office is located in Grand Rapids, with branch office locations in Alma, Belding, Cadillac, Canadian Lakes, Clare, Comstock Park, DeWitt, Fairview, Grand Rapids, Hale, Hastings, Holland, Howard City, Ionia, Ithaca, Kalamazoo, Kentwood, Lakeview, Lansing, Lowell, Merrill, Mt. Pleasant, Paw Paw, Portage, Remus, Rose City, Shepherd, St. Charles, St. Helen, St. Johns, Vestaburg, West Branch, and Wyoming.


Our insurance company acquired an existing shelf insurance agency effective April 15, 2002. An Agency and Institution Agreement was entered into among our insurance company, our bank and Hub International for the purpose of providing programs of mass marketed personal lines of insurance. Insurance product offerings include private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business and life insurance products, all of which are provided by and written through companies that have appointed Hub International as their agent.

We have five business trusts that are wholly-owned subsidiaries of Mercantile, four of which were assumed by Mercantile in conjunction with the merger with Firstbank. Each of the trusts was formed to issue Preferred Securities that were sold in private sales, as well as selling Common Securities to Mercantile. The proceeds from the Preferred and Common Securities sales were used by the trusts to purchase Floating Rate Notes issued by Mercantile. The rates of interest, interest payment dates, call features and maturity dates of each Floating Rate Note are identical to its respective Preferred Securities. The net proceeds from the issuance of the Floating Rate Notes were used for a variety of purposes, including contributions to our bank as capital to provide support for asset growth and the funding of stock repurchase programs and certain acquisitions.

As a routine part of our business, we make loans to businesses and individuals located within our market areas. Our lending policy states that the function of the lending operation is twofold: to provide a means for the investment of funds at a profitable rate of return with an acceptable degree of risk, and to meet the credit needs of the creditworthy businesses and individuals who are our customers. We recognize that in the normal business of lending, some losses on loans will be inevitable and should be considered a part of the normal cost of doing business.

Our lending policy anticipates that priorities in extending loans will be modified from time to time as interest rates, market conditions and competitive factors change. The policy sets forth guidelines on a nondiscriminatory basis for lending in accordance with applicable laws and regulations. The policy describes various criteria for granting loans, including the ability to pay; the character of the customer; evidence of financial responsibility; purpose of the loan; knowledge of collateral and its value; terms of repayment; source of repayment; payment history; and economic conditions.

The lending policy further limits the amount of funds that may be loaned against specified types of real estate collateral. For certain loans secured by real estate, the policy requires an appraisal of the property offered as collateral by a state certified independent appraiser. The policy also provides general guidelines for loan to value for other types of collateral, such as accounts receivable and machinery and equipment. In addition, the policy provides general guidelines as to environmental analysis, loans to employees, executive officers and directors, problem loan identification, maintenance of an allowance for loan losses, loan review and grading, mortgage and consumer lending, and other matters relating to our lending practices.



   Company Address: 310 Leonard Street, NW Grand Rapids 49504 MI
   Company Phone Number: 406-3000   Stock Exchange / Ticker: NASDAQ MBWM
   


Customers Net Income fell by MBWM's Customers Net Profit Margin fell to

-6.33 %

17.2 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK   -0.33%    
CFG   -2.19%    
FCNCA        2.47% 
FITB   -2.51%    
MTB   -1.61%    
NTRS        1.27% 
• View Complete Report
   



Mercantile Bank Corporation

Mercantile Bank Corporation's Impressive Growth Energizes Investors with Double-Digit Surge in Q3 2023 Earnings

Mercantile Bank Corporation, a leading financial institution, has reported strong financial results for the period of July to September 30, 2023. The company witnessed significant growth in various key areas, including income per share, revenue, and net profits.
One of the standout achievements for Mercantile Bank Corporation was the 28.71% increase in income per share, reaching $1.30 per share. This growth is impressive and demonstrates the company's ability to generate higher earnings for its shareholders. Furthermore, the revenue advanced by 17.501% to $54.91 million, compared to the same period in the previous year.

Dividend

Mercantile Bank Corporation Declares $0.34 Quarterly Cash Dividend, Yielding 4.4%, Providing Stability to Shareholders Amidst Recent Market Challenges

Published Tue, Oct 17 2023 9:00 AM UTC



In a move that aims to provide stability and reassurance to its valued shareholders, Mercantile Bank Corporation announced the declaration of a regular quarterly cash dividend of $0.34 on its common stock. The dividend yield of approximately 4.4% presents an attractive investment opportunity for shareholders, especially against the backdrop of recent market uncerta...

Mercantile Bank Corporation

Massive Growth at Mercantile Bank Corporation: 71.62% Surge in Income Per Share, Outpacing Regional Peers



In the midst of a highly competitive market, Mercantile Bank Corporation has delivered impressive financial results for the closing period ending June 30, 2023. The company's income per share surged by a remarkable 71.62% year on year, reaching $1.27 per share. Additionally, revenue witnessed a solid increase of 27.977%, totaling $53.20 million. This noteworthy performance has not only exceeded market expectations but has also outshined its industry peers.
Outperforming Industry Peers:
Mercantile Bank Corporation's top-line growth in the second quarter of 2023 demonstrates a remarkable achievement when compared to its Regional Banks industry peers. While the industry saw an overall revenue improvement of 4.70% during the same period, Mercantile Bank Corporation stood apart with its substantial growth. The company's income per share decreased slightly by -3.05% from $1.31 per share, whereas revenue decreased by -2.812% from $54.74 million during the previous year.

Mercantile Bank Corporation

Mercantile Bank Corporation Soars with an Astounding 79.45% Surge in Income and 36.626% Revenue Growth

Mercantile Bank Corporation is a banking institution headquartered in Michigan, United States. The bank provides a range of financial services to individuals, businesses, and communities across the state, and is known for its focus on building long-term relationships with customers.
The latest financial results reported by the bank show a positive trend in terms of income per share and revenue growth. According to the Mar 31 2023 report, Mercantile Bank Corporation saw a surge in income per share by 79.45% to $1.31 per share in proportion to the year prior. This was accompanied by an increase in revenue by 36.626% to $54.74 million. In comparison, in the prior quarter, MBWM realized Revenue of $55.41 million and $1.37 per share.
The bottom-line of $20.974 million in the fiscal first quarter of 2023 also increased by 82.51% from net earnings of $11.492 million reported in the fiscal first quarter of 2023 a year ago. These figures are indicative of a growing business that is generating higher revenues and profits.






 

Mercantile Bank's Segments
 
 
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