Mercantile Bank Corporation (MBWM) Earnings History
Growth Compounder28 years of earnings data (1998–2025) · Consistent double-digit EPS growth over 5 years
Loading earnings history...
Mercantile Bank Corporation (MBWM) Earnings Overview
As of June 21, 2026, Mercantile Bank Corporation (MBWM) reported trailing twelve-month net income of $89M, reflecting +10.8% year-over-year growth. The company earned $5.46 per diluted share over the past four quarters, with a net profit margin of 23.9%.
Looking at the long-term picture, MBWM's 5-year EPS compound annual growth rate (CAGR) stands at +15.0%, indicating exceptional earnings growth. The company achieved its highest annual net income of $89M in fiscal 2025, representing a new all-time high.
Mercantile Bank Corporation maintains industry-leading profitability with a gross margin of 64.0%, operating margin of 27.5%, and net margin of 23.9%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including IBCP ($69M net income, 21.7% margin), CZWI ($14M net income, 16.0% margin), UVSP ($91M net income, 17.5% margin), MBWM has outperformed on profitability metrics. Compare MBWM vs IBCP →
MBWM Earnings vs Peers
Earnings metrics vs comparable public companies
MBWM Historical Earnings Data (1998–2025)
28 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $89M | +11.5% | $102M | $5.46 | 23.9% | 27.5% |
| 2024 | $80M | -3.2% | $98M | $4.93 | 22.0% | 27.2% |
| 2023 | $82M | +34.6% | $103M | $5.13 | 27.1% | 33.8% |
| 2022 | $61M | +3.5% | $76M | $3.85 | 28.5% | 35.4% |
| 2021 | $59M | +33.7% | $74M | $3.69 | 29.7% | 37.1% |
| 2020 | $44M | -10.8% | $55M | $2.71 | 22.8% | 28.3% |
| 2019 | $49M | +17.7% | $60M | $3.01 | 26.7% | 32.6% |
| 2018 | $42M | +34.4% | $52M | $2.53 | 26.1% | 32.2% |
| 2017 | $31M | -2.0% | $46M | $1.90 | 21.6% | 31.9% |
| 2016 | $32M | +18.1% | $47M | $1.96 | 22.9% | 33.6% |
| 2015 | $27M | +55.9% | $39M | $1.62 | 21.0% | 30.3% |
| 2014 | $17M | +1.7% | $25M | $1.28 | 17.5% | 25.4% |
| 2013 | $17M | +35.9% | $25M | $1.95 | 26.2% | 38.6% |
| 2012 | $13M | -66.6% | $18M | $1.30 | 18.5% | 26.8% |
| 2011 | $37M | +381.5% | $10M | $4.07 | 47.8% | 12.9% |
| 2010 | -$13M | +74.4% | -$13M | $-1.72 | -13.7% | -13.7% |
| 2009 | -$52M | -950.4% | -$47M | $-6.23 | -46.3% | -41.4% |
| 2008 | -$5M | -155.3% | -$10M | $-0.59 | -3.9% | -7.7% |
| 2007 | $9M | -54.8% | $12M | $1.06 | 6.0% | 8.0% |
| 2006 | $20M | +10.9% | $29M | $2.22 | 13.9% | 20.2% |
| 2005 | $18M | +30.5% | $26M | $1.90 | 16.6% | 24.2% |
| 2004 | $14M | +37.0% | $19M | $1.54 | 18.7% | 25.7% |
| 2003 | $10M | +29.1% | $14M | $1.32 | 17.0% | 23.4% |
| 2002 | $8M | +73.0% | $11M | $1.10 | 15.3% | 21.6% |
| 2001 | $4M | +60.4% | $6M | $0.82 | 9.6% | 13.9% |
| 2000 | $3M | +33.1% | $4M | $0.72 | 7.4% | 10.8% |
| 1999 | $2M | +289.4% | $2M | $0.57 | 8.9% | 10.1% |
| 1998 | -$1M | - | -$1M | $-0.36 | -12.8% | -12.8% |
Download Data
Export MBWM earnings history in CSV or JSON format
Free sign-in required to download data
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
28+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
MBWM — Frequently Asked Questions
Quick answers to the most common questions about buying MBWM stock.
What is MBWM earnings per share (EPS)?
MBWM trailing twelve-month (TTM) diluted EPS is $5.46, reflecting +10.8% year-over-year growth. The 5-year EPS CAGR is +15.0%. Complete EPS history from 1998 to 2025 is available in the table on this page.
What is Mercantile Bank Corporation's net income?
Mercantile Bank Corporation (MBWM) trailing twelve-month net income is $89M as of 2025. Earnings grew +10.8% year-over-year. Mercantile Bank Corporation has been profitable for 15 consecutive years.
Is MBWM profitable?
Yes, MBWM is profitable with a TTM net income of $89M and a net profit margin of +23.9%. Mercantile Bank Corporation has generated profits for 15 consecutive years.
What is MBWM's earnings growth rate?
MBWM compound annual EPS growth rates (CAGR): 1-Year: +10.8%, 3-Year: +12.4%, 5-Year: +15.0%, 10-Year: +12.9%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1998 to 2025.
What are MBWM's profit margins?
Mercantile Bank Corporation net profit margin is +23.9%, operating margin is +27.5%, and gross margin is +64.0%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +13.6%.
Is MBWM growing earnings?
MBWM is growing earnings steadily. YoY EPS growth of +10.8% is consistent with the 5-year CAGR of +15.0%. TTM net income is $89M.
What was MBWM's best earnings year?
Mercantile Bank Corporation's highest annual net income on record is $89M, achieved in fiscal year 2025. Earnings history on this page spans 1998 to 2025 and includes all annual and quarterly figures.
What were MBWM's earnings last quarter?
MBWM's most recent reported quarter was Q4 2025. Net income was $23M with diluted EPS of $1.40. For a full breakdown of all quarters, see the quarterly earnings table on this page.