MBWM FY 2023 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

FY 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$304M+41.9% YoY

Gross Profit

$218M71.8% margin

Operating Income

$103M33.8% margin

Net Income

$82M27.1% margin

EPS (Diluted)

$5.13

Cash Flow

Operating Cash Flow

$67M

Free Cash Flow

$60M

Stock-Based Comp.

$3M

Balance Sheet

Total Assets

$5.4B

Total Liabilities

$4.8B

Stockholders' Equity

$522M

Cash & Equivalents

$131M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$304M	$214M	+41.9%
Gross Profit	$218M	$184M	+18.6%
Operating Income	$103M	$76M	+35.5%
Net Income	$82M	$61M	+34.6%