MBWM Q4 2022 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

Q4 2022 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$66M+33.0% YoY

Gross Profit

$55M83.9% margin

Operating Income

$27M40.7% margin

Net Income

$22M33.0% margin

EPS (Diluted)

$1.37

QoQ Revenue Growth

+19.3%

Cash Flow

Operating Cash Flow

$37M

Free Cash Flow

$36M

Stock-Based Comp.

$979,000

Balance Sheet

Total Assets

$4.9B

Total Liabilities

$4.4B

Stockholders' Equity

$441M

Cash & Equivalents

$97M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$66M	$50M	+33.0%
Gross Profit	$55M	$49M	+14.1%
Operating Income	$27M	$15M	+76.6%
Net Income	$22M	$12M	+87.3%

Revenue Segments

Credit and Debit Card

$2M49%

Service Charges on Deposit and Sweep Accounts

$1M34%

Payroll Processing

$543,00013%

Customer Service

$198,0005%