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MBWM Q1 2024 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena
MBWM
Mercantile Bank Corporation
$872M
Q1 2024 Earnings
Financial Services
Banks - Regional
Income Statement
Revenue
$88M
+29.9% YoY
Gross Profit
$57M
65.0% margin
Operating Income
$27M
30.8% margin
Net Income
$22M
24.6% margin
EPS (Diluted)
$1.34
QoQ Revenue Growth
+6.7%
Cash Flow
Operating Cash Flow
$40M
Free Cash Flow
$39M
Stock-Based Comp.
$742,000
Balance Sheet
Total Assets
$5.5B
Total Liabilities
$4.9B
Stockholders' Equity
$537M
Cash & Equivalents
$237M
Year-over-Year Comparison
Metric
Current
Year Ago
Change
Revenue
$88M
$67M
+29.9%
Gross Profit
$57M
$55M
+4.0%
Operating Income
$27M
$26M
+3.2%
Net Income
$22M
$21M
+2.8%
Revenue Segments
Credit and Debit Card
$2M
45%
Service Charges on Deposit and Sweep Accounts
$2M
32%
Payroll Processing
$896,000
19%
Customer Service
$198,000
4%
← FY 2024
All Quarters
Q2 2024 →