MBWM Q4 2023 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena

MBWMMercantile Bank Corporation

$872M

Q4 2023 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$82M+24.2% YoY

Gross Profit

$55M67.2% margin

Operating Income

$25M30.7% margin

Net Income

$20M24.4% margin

EPS (Diluted)

$1.25

QoQ Revenue Growth

+2.1%

Cash Flow

Operating Cash Flow

-$7M

Free Cash Flow

-$8M

Stock-Based Comp.

$879,000

Balance Sheet

Total Assets

$5.4B

Total Liabilities

$4.8B

Stockholders' Equity

$522M

Cash & Equivalents

$131M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$82M	$66M	+24.2%
Gross Profit	$55M	$55M	-0.5%
Operating Income	$25M	$27M	-6.2%
Net Income	$20M	$22M	-8.1%

Revenue Segments

Credit and Debit Card

$2M48%

Service Charges on Deposit and Sweep Accounts

$2M34%

Payroll Processing

$600,00013%

Customer Service

$189,0004%