MBWM Q3 2022 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

Q3 2022 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$55M+7.7% YoY

Gross Profit

$47M84.4% margin

Operating Income

$20M36.0% margin

Net Income

$16M28.9% margin

EPS (Diluted)

$1.01

QoQ Revenue Growth

+17.2%

Cash Flow

Operating Cash Flow

$33M

Free Cash Flow

$31M

Stock-Based Comp.

$790,000

Balance Sheet

Total Assets

$5.0B

Total Liabilities

$4.6B

Stockholders' Equity

$416M

Cash & Equivalents

$284M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$55M	$51M	+7.7%
Gross Profit	$47M	$45M	+4.4%
Operating Income	$20M	$19M	+7.5%
Net Income	$16M	$15M	+6.5%

Revenue Segments

Credit and Debit Card

$2M47%

Service Charges on Deposit and Sweep Accounts

$2M36%

Payroll Processing

$533,00012%

Customer Service

$210,0005%