MBWM

Mercantile Bank Corporation

MBWM.US mercbank.com + Research + Basket
CIK 0001042729
Employees 812
Phone 616 406 3000
Fiscal year end December
IPO Aug 07, 1997
Address 310 Leonard Street NW, Grand Rapids, MI, United States, 49504
60.65
+0.32 (+0.53%)
USD · NASDAQ
52-week range
41.75
62.95
Trading at 89% of the 52-week range
Market Cap
1.04B
P/E Ratio
10.73
Forward P/E
10.87
Book Value
43.03
Div. Yield
2.57%
% Institutions
71.96%
% Insiders
3.10%

1 Year

+44.3%

3 Year

+104.6%

10 Year

+221.5%
Description

Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. The company accepts various deposit products, such as checking, savings, and term certificate accounts; time deposits; and certificates of deposit. It also provides commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans. In addition, the company offers courier services and safe deposit boxes; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

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People

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Directors & Officers

Name Title Year Born
Mr. Raymond E. Reitsma President, CEO & Director 1963
Mr. Charles E. Christmas Executive VP, CFO & Treasurer 1966
Mr. Scott P. Setlock Executive VP, COO & Secretary 1982
Mr. Brett E. Hoover Executive VP & Chief Human Resource Officer 1971
Mr. Mark S. Augustyn Executive VP & Chief Commercial Banking Officer of the Mercantile Bank 1968
Sonali D. Allen Senior VP and Chief Compliance & Community Development Officer of Mercantile Bank NA
Mr. Jeff Kaiser Senior VP & Head of Risk Management Department NA
Mr. Douglas J. Holtrop Executive VP & Senior Lending Officer of Mercantile Bank NA
Ms. Tara M. Randall Executive VP & Chief Experience Officer of Mercantile Bank NA
Mr. Justin M. Karl Executive VP & Senior Lending Officer of Mercantile Bank NA

Insider Trading

Open insider trading
Date Insider Name Title Transaction Type Shares Price Value SEC
Oct 31, 2025 Nelson F Sanchez N/A Purchase 1.00K $43.50 $43.50K SEC
Jul 29, 2025 Shoran R Williams N/A Purchase 200.00 $47.28 $9.46K SEC
May 02, 2025 Robert B Kaminski N/A Sale 250.00 $42.85 $10.71K SEC

Shareholders

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Institutional Holders

Holder Name Shares Date Reported % Out Value % Change
BlackRock Inc 1.53M Jun 30, 2026 8.88% $0.00 10.49%
Wellington Management Company LLP 1.09M Jun 30, 2026 6.29% $0.01 -8.50%
Dimensional Fund Advisors, Inc. 1.05M Jun 30, 2026 6.06% $0.01 1.35%
Vanguard Capital Management, LLC 735.61K Jun 30, 2026 4.26% $0.00 4.44%
American Century Companies Inc 625.02K Jun 30, 2026 3.62% $0.02 11.32%
State Street Corp 598.64K Jun 30, 2026 3.46% $0.00 19.14%
Geode Capital Management, LLC 466.41K Jun 30, 2026 2.70% $0.00 7.22%
Renaissance Technologies Corp 446.61K Jun 30, 2026 2.58% $0.04 -5.42%
NorthStar Asset Management, Inc. 377.43K Jun 30, 2026 2.18% $0.85 -1.50%
Vanguard Portfolio Management, LLC 290.09K Jun 30, 2026 1.68% $0.00 5.37%
LSV Asset Management 280.79K Jun 30, 2026 1.62% $0.03 -0.85%
Northern Trust Corp 240.67K Jun 30, 2026 1.39% $0.00 3.47%
Tributary Capital Management, LLC 218.15K Jun 30, 2026 1.26% $1.03 -2.89%
Two Sigma Investments LLC 213.74K Jun 30, 2026 1.24% $0.01 17.67%
Hotchkis & Wiley Capital Management LLC 192.50K Jun 30, 2026 1.11% $0.03 0.71%
Charles Schwab Investment Management Inc 144.19K Jun 30, 2026 0.83% $0.00 2.66%
JPMorgan Chase & Co 140.10K Jun 30, 2026 0.81% $0.00 -5.89%
AQR Capital Management LLC 137.73K Jun 30, 2026 0.80% $0.00 -6.13%
Banc Funds Co LLC 131.16K Jun 30, 2026 0.76% $1.24 0.00%
Mercer Global Advisors Inc. 127.92K Jun 30, 2026 0.74% $0.01 -1.03%

Fund Holdings

Rank Holder Name Shares Held % of Shares Change Date Reported
1 Avantis US Small Cap Value ETF 561.79K 3.25% ▲ 0.07% Sep 30, 2026
2 Vanguard MStar Total Stk Mkt Idx Invest 519.01K 3.00% ▼ 0.22% Sep 30, 2026
3 iShares Russell 2000 ETF 476.56K 2.76% ▲ 1.21% Sep 30, 2026
4 DFA US Small Cap Value I 233.92K 1.35% ▲ 0.00% Aug 31, 2026
5 T. Rowe Price Small-Cap Value 198.68K 1.15% ▲ 0.00% Sep 30, 2026
6 Fidelity Small Cap Index 188.84K 1.09% ▲ 0.94% Jul 31, 2026
7 iShares Russell 2000 Value ETF 169.96K 0.98% ▲ 0.15% Sep 30, 2026
8 State Street® SPDR® S&PRgnllBkgETF 167.06K 0.97% ▲ 3.08% Sep 30, 2026
9 DFA US Targeted Value I 131.60K 0.76% ▲ 0.00% Aug 31, 2026
10 Tributary Small Company Instl 122.63K 0.71% ▼ 2.03% Sep 30, 2026

Financial Highlights

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Market Cap: $1.04B
P/E Ratio: $10.73
PEG Ratio: $1.63
Book Value: $43.03
Dividend/Share: $1.56
Dividend Yield: 2.57%
Earnings/Share: $5.62
Profit Margin: 34.84%
Operating Margin: 41.88%
ROA (TTM): 1.42%
ROE (TTM): 13.63%
Revenue (TTM): $274.17M
Revenue/Share (TTM): $16.11
Earnings Growth (YOY): -4.80%
Revenue Growth (YOY): 17.10%

Valuation Metrics

Enterprise Value: $1.08B
Trailing P/E: 10.73
Forward P/E: 10.87

Shares Statistics

Shares Outstanding: 17.29M
Shares Float: 16.84M
% Insiders: 3.10%
% Institutions: 71.96%
Shares Short: 561.52K
Shares Short (Prior Month): 626.40K
Short Ratio: 4.89
Short % Float: 3.33%

Stock Price History

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1 Year Price History

3 Years Price History

10 Years Price History

Max Price History

Financial Charts

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Open balance sheet Open capital intensity Download Financials (Excel)

Revenue, Net Income & Operating Cash Flow (Yearly)

Change % vs Prior Year

Revenue, Net Income & Operating Cash Flow (Quarterly)

Change % vs Prior Quarter

Operating Expenses (Yearly)

Operating Expenses (Quarterly)

Balance Sheet (Yearly)

Balance Sheet (Quarterly)

Assets Breakdown (Yearly)

Assets Breakdown (Quarterly)

Liabilities Breakdown (Yearly)

Liabilities Breakdown (Quarterly)

Income Statement Waterfall

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Open full waterfall Open balance sheet
Line Item
Step Type
Value
Revenue
adjust
$371.80M
Cost of Goods Sold
adjust
$-133.75M
Gross Profit
subtotal
$238.05M
SG&A
adjust
$-15.27M
Other Operating Expense
adjust
$-120.69M
Operating Income
subtotal
$102.09M
Other / Non-Operating Items
adjust
$-13.34M
Net Income
subtotal
$88.75M

Earnings Per Share (EPS) History

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Financial Ratios

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📦 Raw API Data (JSON Explorer)

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