MBWM Q3 2023 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

Q3 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$80M+45.1% YoY

Gross Profit

$55M68.3% margin

Operating Income

$26M32.3% margin

Net Income

$21M25.9% margin

EPS (Diluted)

$1.30

QoQ Revenue Growth

+9.3%

Cash Flow

Operating Cash Flow

$36M

Free Cash Flow

$35M

Stock-Based Comp.

$824,000

Balance Sheet

Total Assets

$5.3B

Total Liabilities

$4.8B

Stockholders' Equity

$483M

Cash & Equivalents

$266M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$80M	$55M	+45.1%
Gross Profit	$55M	$47M	+17.4%
Operating Income	$26M	$20M	+30.1%
Net Income	$21M	$16M	+30.1%

Revenue Segments

Credit and Debit Card

$2M51%

Service Charges on Deposit and Sweep Accounts

$1M31%

Payroll Processing

$591,00013%

Customer Service

$205,0005%