MBWMMercantile Bank Corporation

$872M

Q3 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$93M+15.8% YoY

Gross Profit

$57M61.1% margin

Operating Income

$25M26.4% margin

Net Income

$20M21.1% margin

EPS (Diluted)

$1.22

QoQ Revenue Growth

+5.1%

Cash Flow

Operating Cash Flow

-$8M

Free Cash Flow

-$14M

Stock-Based Comp.

$898,000

Balance Sheet

Total Assets

$5.9B

Total Liabilities

$5.3B

Stockholders' Equity

$583M

Cash & Equivalents

$329M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$93M	$80M	+15.8%
Gross Profit	$57M	$55M	+3.6%
Operating Income	$25M	$26M	-5.5%
Net Income	$20M	$21M	-5.9%

Revenue Segments

Credit and Debit Card

$2M46%

Service Charges on Deposit and Sweep Accounts

$2M35%

Payroll Processing

$713,00014%

Customer Service

$231,0005%

MBWM Q3 2024 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena