Mercantile Bank (MBWM) earnings

MERCANTILE BANK CORP· Financials

Results to: Jun 2026
Latest analysed call: Sep 2026 (Q3 FY26)
Balance sheet to: Dec 2025

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Mercantile Bank earnings: last reported Tue, 20 Oct 2026, for the quarter ended Sep 2026.

Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	Unavailable	—	Quarterly, as filed	Quarter to Jun 2026	Not in the filed figures for the quarter to jun 2026. No older figure is substituted.
Operating margin	Unavailable	—	Operating profit / revenue	Quarter to Jun 2026	Not in the filed figures for the quarter to jun 2026. No older figure is substituted.
Net profit	25.9 $ million	+14.6% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.

Source: Inve data from filed results (SEC filings) · to Jun 2026

Price

$61.09 +1.11% · +$0.67

Last close Oct 23, 2026 · US · USD · Source: Inve

Performance +35.0% 1Y

1Y: $45.26 on 22 Oct 2025 → $61.09. High $62.14 (4 Sept 2026), low $43.28 (29 Oct 2025).

Previous close: $60.42
52-week range: $43.28 – $62.14
One year: +36.03%

Overview

Symbol: MBWM
Sector: Financials
Exchange: US
Currency: USD

Financials

What the filings say

Net profit, year on year: +15% (quarter to jun 2026 against jun 2025).

In $ million. Oldest period first.

Line item	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Profit before tax	25	23	24	26	27	26	27	31
Tax rate	20.1%	15.5%	18.8%	12.9%	13.4%	12.3%	16.9%	16.9%
Net profit	20	20	20	23	24	23	23	26
EPS ($ per share)	1.22	—	1.21	1.39	1.46	—	1.32	1.50

Source: Inve data · income statement, quarterly · to Jun 2026

In $ million. Oldest period first.

Line item	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity capital	308	305	302	286	290	295	300	349
Reserves	75	108	134	175	216	278	335	399
Total liabilities	2,989	3,216	3,996	4,801	4,431	4,831	5,468	6,110
Fixed assets	48	57	59	57	51	51	53	62
Total assets	3,364	3,633	4,437	5,258	4,873	5,353	6,052	6,835

Source: Inve data · balance sheet · to Dec 2025

In $ million. Oldest period first.

Line item	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from operations	62	45	38	65	120	67	101	18
Cash from investing	-210	-93	-399	-496	-555	-396	-425	-106
Cash from financing	24	206	753	780	-443	363	587	168
Net cash flow	-125	158	392	349	-878	34	262	80

Source: Inve data · cash flow · to Dec 2025

Insider filings

37 filings between Oct 31, 2025 and May 22, 2026.

Open market

decisions to buy or sell

Purchases

$43.5K

1 purchase by 1 insider

Sales

$209.8K

2 sales by 1 insider

Compensation

not trading decisions

27: Award — granted as compensation
6: Tax withheld — shares kept back by the company to cover tax

Also filed: 1 gift.

Who traded

open market only

Insider	Bought	Sold	Last filing
PRICE MICHAEL H	—	$209.8K	Nov 13, 2025
Sanchez Nelson F	$43.5K	—	Oct 31, 2025

Latest filings (50)

Date	Insider	What	Shares	Value
May 22, 2026	Schweihofer Steven Director	Award	715	$0
May 22, 2026	Sparks Amy L Director	Award	906	$0
May 22, 2026	MacDonald Richard D Director	Award	715	$0
May 22, 2026	Williams Shoran R Director	Award	715	$0
May 22, 2026	PRICE MICHAEL H Director	Award	1,096	$0
May 22, 2026	Schmidt Sara A Director	Award	715	$0
May 22, 2026	Jones Joseph D Director	Award	715	$0
May 22, 2026	Eldridge Michelle Larabee Director	Award	830	$0
May 22, 2026	RAMAKER DAVID B Director	Award	801	$0
May 22, 2026	Sanchez Nelson F Director	Award	715	$0
May 22, 2026	Davenport Michael S. Director	Award	753	$0
Feb 17, 2026	CHRISTMAS CHARLES E EVP & CFO	Tax withheld	3,021	$163.8K
Feb 17, 2026	Reitsma Raymond E. President and CEO	Tax withheld	4,040	$219.1K
Feb 15, 2026	CHRISTMAS CHARLES E EVP & CFO	Award	1,326	$0
Feb 15, 2026	Reitsma Raymond E. President and CEO	Award	1,808	$0
Feb 5, 2026	Hoover Brett EVP & CHIEF HR OFFICER	Award	944	$0
Feb 5, 2026	Hoover Brett EVP & CHIEF HR OFFICER	Award	1,888	$0
Feb 5, 2026	Setlock Scott P EVP, COO, & SECRETARY	Award	2,271	$0
Feb 5, 2026	CHRISTMAS CHARLES E EVP & CFO	Award	2,829	$0
Feb 5, 2026	Setlock Scott P EVP, COO, & SECRETARY	Award	1,135	$0
Feb 5, 2026	Randall Tara M EVP & Chief Experience Officer	Award	910	$0
Feb 5, 2026	Reitsma Raymond E. President and CEO	Award	7,559	$0
Feb 5, 2026	Randall Tara M EVP & Chief Experience Officer	Award	1,820	$0
Feb 5, 2026	Augustyn Mark S EVP&Chief Comm Banking Officer	Award	1,437	$0
Feb 5, 2026	Augustyn Mark S EVP&Chief Comm Banking Officer	Award	2,875	$0
Feb 5, 2026	CHRISTMAS CHARLES E EVP & CFO	Award	1,414	$0
Feb 5, 2026	Reitsma Raymond E. President and CEO	Award	3,779	$0
Jan 6, 2026	Schweihofer Steven Director	Award	321	$0
Dec 31, 2025	Schweihofer Steven Director	Award	5,282	—
Dec 19, 2025	Hoover Brett EVP & CHIEF HR OFFICER	Tax withheld	950	$47.0K
Dec 19, 2025	Setlock Scott P EVP, COO, & SECRETARY	Tax withheld	1,187	$58.7K
Dec 19, 2025	Randall Tara M EVP & Chief Experience Officer	Tax withheld	1,500	$74.2K
Dec 19, 2025	Augustyn Mark S EVP&Chief Comm Banking Officer	Tax withheld	1,461	$72.2K
Dec 12, 2025	Augustyn Mark S EVP&Chief Comm Banking Officer	Gift	2,022	$0
Nov 13, 2025	PRICE MICHAEL H Director	Sale	1,417	$64.9K
Nov 13, 2025	PRICE MICHAEL H Director	Sale	3,160	$144.9K
Oct 31, 2025	Sanchez Nelson F Director	Purchase	1,000	$43.5K
Aug 18, 2025	RAMAKER DAVID B Director	Purchase	1,500	$70.1K
Jul 29, 2025	Williams Shoran R Director	Purchase	200	$9.5K
Jul 17, 2025	PRICE MICHAEL H Director	Award	47	$0
Jul 17, 2025	RAMAKER DAVID B Director	Award	20	$0
Jul 17, 2025	Davenport Michael S. Director	Award	17	$0
Jul 17, 2025	Eldridge Michelle Larabee Director	Award	34	$0
Jul 17, 2025	Sparks Amy L Director	Award	79	$0
May 22, 2025	RAMAKER DAVID B Director	Award	926	$0
May 22, 2025	PRICE MICHAEL H Director	Award	1,244	$0
May 22, 2025	MacDonald Richard D Director	Award	849	$0
May 22, 2025	Jones Joseph D Director	Award	849	$0
May 22, 2025	Eldridge Michelle Larabee Director	Award	943	$0
May 22, 2025	Davenport Michael S. Director	Award	873	$0

Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.

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