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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, 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)300.56m
- Net income in USD81.23m
- Incorporated1997
- Employees670.00
- 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. | 236.31m | 48.52m | 630.11m | 353.00 | 13.01 | 0.9277 | 12.11 | 3.59 | 0.7899 | 0.7899 | 2.86 | 11.08 | -- | -- | -- | -- | 0.9177 | 1.08 | -- | -- | -- | -- | 27.62 | 30.59 | -- | -- | -- | 58.28 | 24.08 | 12.53 | -3.17 | 12.77 | 54.96 | 3.40 |
| Business First Bancshares Inc | 383.87m | 61.65m | 679.12m | 751.00 | 10.95 | 1.15 | 10.24 | 2.69 | 2.43 | 2.43 | 9.95 | 26.06 | -- | -- | -- | -- | 1.02 | 1.08 | -- | -- | -- | -- | 26.56 | 25.39 | -- | -- | -- | 20.27 | 49.64 | 35.91 | 24.08 | 36.03 | 66.18 | 10.20 |
| Orrstown Financial Services Inc | 164.65m | 32.94m | 705.68m | 410.00 | 11.57 | 1.40 | 18.92 | 5.37 | 3.15 | 3.15 | 12.56 | 25.97 | -- | -- | -- | -- | 1.06 | 1.00 | -- | -- | -- | -- | 25.06 | 22.98 | -- | -- | -- | 28.95 | 37.96 | 17.95 | 61.83 | 22.73 | -13.70 | 9.42 |
| Farmers & Merchants Bancorp | 269.58m | 87.95m | 713.45m | 378.00 | 8.21 | 1.24 | 7.87 | 3.16 | 117.72 | 117.72 | 301.93 | 779.40 | -- | -- | -- | -- | 1.67 | 1.49 | -- | -- | -- | -- | 38.99 | 36.86 | -- | -- | -- | 17.52 | 27.89 | 13.71 | 17.61 | 14.17 | 1.67 | 4.23 |
| Eagle Bancorp Inc | 673.90m | -36.53m | 716.71m | 452.00 | -- | 0.6129 | -- | 2.33 | -1.20 | -1.20 | 10.25 | 38.75 | -- | -- | -- | -- | -0.3271 | 1.30 | -- | -- | -- | -- | -11.86 | 39.61 | -- | -- | -- | 29.63 | 47.27 | 9.72 | -28.66 | -7.97 | -45.69 | -- |
| Open Lending Corp | 98.42m | 6.15m | 736.98m | 210.00 | 120.92 | 3.40 | 96.97 | 7.49 | 0.0511 | 0.0511 | 0.8212 | 1.82 | 0.2558 | -- | 2.94 | 468,652.40 | 1.60 | 15.71 | 1.69 | 16.62 | 77.45 | 89.02 | 6.25 | 27.96 | -- | -- | 0.3979 | 422.19 | -34.60 | 17.61 | -66.87 | -- | 3.02 | -- |
| Old Second Bancorp Inc | 294.48m | 85.76m | 750.33m | 834.00 | 8.88 | 1.21 | 8.05 | 2.64 | 1.88 | 1.88 | 6.24 | 13.81 | -- | -- | -- | -- | 1.49 | 1.12 | -- | -- | -- | -- | 30.20 | 26.41 | -- | -- | -- | 10.06 | 34.88 | 22.09 | 36.09 | 21.95 | 45.54 | -- |
| Mercantile Bank Corp | 300.56m | 81.23m | 752.18m | 670.00 | 9.22 | 1.36 | 8.15 | 3.27 | 5.05 | 5.05 | 14.32 | 34.15 | -- | -- | -- | -- | 1.51 | 1.31 | -- | -- | -- | -- | 35.30 | 32.33 | -- | -- | -- | 31.26 | 49.23 | 13.83 | 34.64 | 14.36 | 1.14 | 7.58 |
| Amerant Bancorp Inc | 575.99m | 20.53m | 755.61m | 682.00 | 37.37 | 1.03 | 29.36 | 1.92 | 0.6036 | 0.6036 | 11.67 | 21.88 | -- | -- | -- | -- | 0.2007 | 0.6097 | -- | -- | -- | -- | 4.92 | 15.72 | -- | -- | -- | 10.24 | 61.93 | 12.14 | -48.68 | -6.65 | 1.71 | -- |
| Federal Home Loan Mortgage Corp | 113.55bn | -136.00m | 780.07m | 8.00k | -- | -- | -- | 0.0069 | -0.2461 | -0.2461 | 58.47 | 81.87 | 0.0346 | -- | -- | 14,186,030.00 | 0.3394 | 0.3389 | 0.344 | 0.3496 | 101.51 | -- | 9.80 | 11.65 | -- | 1.15 | 0.9838 | 0.00 | 22.32 | 10.36 | -148.54 | -- | -- | -- |
| Central Pacific Financial Corp. | 296.77m | 56.77m | 785.12m | 696.00 | 13.85 | 1.51 | 12.17 | 3.09 | 2.10 | 2.10 | 9.37 | 19.16 | -- | -- | -- | -- | 0.7592 | 0.9013 | -- | -- | -- | -- | 22.37 | 24.79 | -- | -- | -- | 43.89 | 21.49 | 7.35 | -20.64 | 0.249 | 31.44 | 4.87 |
| NB Bancorp Inc | 264.25m | 13.00m | 792.19m | 330.00 | 50.93 | 1.06 | 50.30 | 3.00 | 0.3643 | 0.3643 | 6.40 | 17.43 | 0.0598 | -- | 16.64 | -- | 0.2944 | -- | 1.72 | -- | -- | -- | 4.92 | -- | -- | 1.17 | 0.8424 | -- | 82.84 | -- | -67.32 | -- | -- | -- |
| First Community Bankshares Inc | 144.93m | 51.96m | 835.14m | 591.00 | 15.92 | 1.64 | 14.31 | 4.98 | 2.87 | 2.87 | 9.02 | 27.85 | -- | -- | -- | -- | 1.57 | 1.48 | -- | -- | -- | -- | 30.99 | 31.23 | -- | -- | -- | 41.07 | 19.98 | 6.89 | 2.91 | 6.73 | 1.66 | 8.26 |
| Univest Financial Corp | 396.78m | 71.68m | 851.50m | 979.00 | 12.02 | 0.9976 | 10.92 | 2.91 | 2.43 | 2.43 | 9.92 | 29.26 | -- | -- | -- | -- | 0.9276 | 1.12 | -- | -- | -- | -- | 24.49 | 26.79 | -- | -- | -- | 31.39 | 47.40 | 14.31 | -8.98 | 7.33 | 16.61 | 0.9806 |
| Copper Property CTL Pass Through Trust | 101.46m | 70.83m | 870.00m | -- | 12.28 | 0.8177 | 9.68 | 8.57 | 0.9443 | 0.9443 | 1.35 | 14.19 | 0.0826 | -- | 2.58 | -- | 5.76 | -- | 5.95 | -- | 93.76 | -- | 69.80 | -- | -- | -- | 0.00 | -- | -6.29 | -- | -20.97 | -- | -- | -- |
Data as of Sep 19 2024. Currency figures normalised to Mercantile Bank Corp's reporting currency: US Dollar USD
35.42%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| BlackRock Fund Advisorsas of 30 Jun 2024 | 1.27m | 7.87% |
| Dimensional Fund Advisors LPas of 30 Jun 2024 | 1.11m | 6.86% |
| The Vanguard Group, Inc.as of 30 Jun 2024 | 811.53k | 5.03% |
| Renaissance Technologies LLCas of 30 Jun 2024 | 530.91k | 3.29% |
| SSgA Funds Management, Inc.as of 30 Jun 2024 | 451.96k | 2.80% |
| North Star Asset Management, Inc.as of 30 Jun 2024 | 363.81k | 2.25% |
| Geode Capital Management LLCas of 30 Jun 2024 | 362.78k | 2.25% |
| American Century Investment Management, Inc.as of 30 Jun 2024 | 308.85k | 1.91% |
| LSV Asset Managementas of 30 Jun 2024 | 260.13k | 1.61% |
| Tributary Capital Management LLCas of 30 Jun 2024 | 248.48k | 1.54% |
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Data from 30 Jun 2024 - 30 Jun 2024Source: FactSet Research Systems Inc.
