MBWMMercantile Bank Corporation

$872M

Q4 2024 Earnings

Financial Services Banks - Regional

Income Statement

Revenue

$93M+12.9% YoY

Gross Profit

$57M61.6% margin

Operating Income

$23M25.1% margin

Net Income

$20M21.2% margin

EPS (Diluted)

$1.22

QoQ Revenue Growth

-0.5%

Cash Flow

Operating Cash Flow

$60M

Free Cash Flow

$59M

Stock-Based Comp.

$785,000

Balance Sheet

Total Assets

$6.1B

Total Liabilities

$5.5B

Stockholders' Equity

$585M

Cash & Equivalents

$393M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$93M	$82M	+12.9%
Gross Profit	$57M	$55M	+3.4%
Operating Income	$23M	$25M	-7.9%
Net Income	$20M	$20M	-2.0%

Revenue Segments

Credit and Debit Card

$4M44%

Service Charges on Deposit and Sweep Accounts

$3M35%

Payroll Processing

$2M17%

Customer Service

$383,0004%

MBWM Q4 2024 Earnings — Mercantile Bank Corporation Revenue & Financial Results | Market Cap Arena