MBWM Q2 2024 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

Q2 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$89M+20.4% YoY

Gross Profit

$53M60.1% margin

Operating Income

$24M26.6% margin

Net Income

$19M21.2% margin

EPS (Diluted)

$1.17

QoQ Revenue Growth

+1.1%

Cash Flow

Operating Cash Flow

$9M

Free Cash Flow

$8M

Stock-Based Comp.

$891,000

Balance Sheet

Total Assets

$5.6B

Total Liabilities

$5.1B

Stockholders' Equity

$551M

Cash & Equivalents

$198M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$89M	$74M	+20.4%
Gross Profit	$53M	$53M	+0.1%
Operating Income	$24M	$25M	-7.3%
Net Income	$19M	$20M	-7.7%

Revenue Segments

Credit and Debit Card

$2M47%

Service Charges on Deposit and Sweep Accounts

$2M35%

Payroll Processing

$686,00014%

Customer Service

$183,0004%