Mercantile Bank

The mission of Mercantile Bank of Michigan is to provide financial products and services in a highly professional and personalized manner. We recognize that our most important partners are our customers. We will satisfy our customers by delivering top quality service that distinguishes us from our competitors. Our employees are our most valuable asset. We strive to hire exceptional team members and are committed to maintaining an environment of growth and development. We recognize the importance of being strong supporters of the diverse communities we serve, and pledge to make them stronger. We believe that fulfilling our mission to our customers, employees and community will allow us to reward our shareholders with an excellent return on their investment in Mercantile Bank Corporation.
Company Growth (employees)
Grand Rapids, US
Size (employees)
552 (est)
Mercantile Bank was founded in 1997 and is headquartered in Grand Rapids, US

Mercantile Bank Office Locations

Mercantile Bank has an office in Grand Rapids
Grand Rapids, US (HQ)
310 Leonard St NW
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Mercantile Bank Financials and Metrics

Mercantile Bank Financials

Mercantile Bank's revenue was reported to be $118.5 m in FY, 2016

Revenue (Q2, 2017)

34.9 m

Gross profit (Q2, 2017)

31.2 m

Gross profit margin (Q2, 2017), %


Net income (Q2, 2017)

7.3 m

EBIT (Q2, 2017)

26.4 m

Market capitalization (22-Dec-2017)

603.5 m

Cash (30-Jun-2017)

101.6 m


792.1 m
Mercantile Bank's current market capitalization is $603.5 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016


58.2 m89.1 m112.3 m118.5 m

Revenue growth, %


Cost of goods sold

11.2 m12.6 m

Gross profit

101.2 m105.9 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


16.4 m15.1 m20.8 m31.8 m31.7 m32.8 m36 m34.2 m35 m34.6 m34.9 m

Cost of goods sold

2.7 m2.5 m2.9 m2.9 m2.6 m2.9 m3 m3 m3.3 m3.2 m3.7 m

Gross profit

13.7 m12.6 m17.8 m28.9 m29.1 m29.9 m33 m31.2 m31.7 m31.4 m31.2 m

Gross profit Margin, %

USDFY, 2013FY, 2014FY, 2015FY, 2016


147 m172.7 m89.9 m183.6 m

Accounts Receivable

3.6 m


2.4 b


24.9 m48.8 m46.9 m45.5 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


125.9 m109.9 m118.9 m132.3 m148.8 m138.4 m103.8 m101.2 m107 m141.7 m53 m101.6 m


1.1 b1.1 b2.1 b2.1 b2.1 b2.2 b2.2 b2.3 b2.4 b2.4 b2.4 b2.5 b


25.2 m24.9 m49 m48.6 m48.4 m47.9 m47.5 m46 m45.6 m45.2 m45.8 m46 m


50.9 m50.9 m49.5 m49.5 m49.5 m49.5 m49.5 m49.5 m49.5 m49.5 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

17 m17.3 m27 m31.9 m

Depreciation and Amortization

2.2 m7.6 m11.7 m9.6 m

Accounts Receivable

225 k(11 k)(321 k)122 k

Cash From Operating Activities

28.5 m14.4 m36 m34.6 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

3.5 m3.6 m1.5 m5.9 m6.6 m6.6 m7.3 m8.5 m7.4 m7.8 m7.6 m

Accounts Receivable

7.7 m
USDY, 2017


30 x


63.3 k

Financial Leverage

8.8 x
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Mercantile Bank Operating Metrics

Mercantile Bank's Total Loans Issued was reported to be $2.5 b in Q2, 2017
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017



Bank Branches


Total Loans Issued

$2.09 b$2.12 b$2.17 b$2.22 b$2.28 b$2.3 b$2.38 b$2.41 b$2.38 b$2.44 b$2.53 b

Non-performing Loans

$29.43 m$26.27 m$8.1 m$8.21 m$5.44 m$4.84 m$5.17 m$4.67 m$5.94 m$7.29 m$6.45 m
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Mercantile Bank Market Value History

Mercantile Bank's Web-traffic and Trends

Mercantile Bank Online and Social Media Presence

Mercantile Bank Company Life and Culture

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