MBWM Q1 2022 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

Q1 2022 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$45M-6.4% YoY

Gross Profit

$40M88.7% margin

Operating Income

$14M31.7% margin

Net Income

$11M25.4% margin

EPS (Diluted)

$0.73

QoQ Revenue Growth

-9.1%

Cash Flow

Operating Cash Flow

$28M

Free Cash Flow

$28M

Stock-Based Comp.

$811,000

Balance Sheet

Total Assets

$5.2B

Total Liabilities

$4.7B

Stockholders' Equity

$436M

Cash & Equivalents

$770M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$45M	$48M	-6.4%
Gross Profit	$40M	$43M	-6.2%
Operating Income	$14M	$18M	-18.5%
Net Income	$11M	$14M	-19.3%

Revenue Segments

Credit and Debit Card

$2M45%

Service Charges on Deposit and Sweep Accounts

$1M34%

Payroll Processing

$638,00015%

Customer Service

$242,0006%