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.
Type
Public
HQ
Grand Rapids, US
Founded
1997
Size (employees)
552 (est)-1%
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

Mercantile Bank Data and Metrics

Mercantile Bank Financial Metrics

Mercantile Bank's revenue was reported to be $34.6 m in Q1, 2017
USD

Revenue (Q1, 2017)

34.6 m

Gross profit (Q1, 2017)

31.4 m

Gross profit margin (Q1, 2017), %

91%

Net income (Q1, 2017)

7.6 m

EBIT (Q1, 2017)

24.9 m

Market capitalization (21-Jul-2017)

522.1 m

Cash (31-Mar-2017)

53 m
Mercantile Bank's current market capitalization is $522.1 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

58.2 m89.1 m112.3 m118.5 m

Revenue growth, %

53%26%5%

Cost of goods sold

11.2 m12.6 m

Gross profit

101.2 m105.9 m

Gross profit Margin, %

90%89%

Sales and marketing expense

43.5 m

R&D expense

7.9 m

Operating expense total

51.5 m

EBIT

102.2 m103 m

EBIT margin, %

91%87%

Net Income

17 m17.3 m27 m31.9 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

20.8 m31.8 m31.7 m32.8 m36 m34.2 m35 m34.6 m

Cost of goods sold

2.9 m2.9 m2.6 m2.9 m3 m3 m3.3 m3.2 m

Gross profit

17.8 m28.9 m29.1 m29.9 m33 m31.2 m31.7 m31.4 m

Gross profit Margin, %

86%91%92%91%92%91%91%91%

Sales and marketing expense

7 m10.7 m11.1 m10.7 m11 m10.8 m11.2 m11.3 m

Operating expense total

7 m10.7 m11.1 m10.7 m11 m10.8 m11.2 m11.3 m

EBIT

16.3 m26.4 m25.6 m26.1 m25.3 m26 m25.9 m24.9 m

EBIT margin, %

78%83%81%80%70%76%74%72%

Net Income

1.5 m5.9 m6.6 m6.6 m7.3 m8.5 m7.4 m7.8 m7.6 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

147 m172.7 m89.9 m183.6 m

Accounts Receivable

3.6 m

Inventories

2.4 b

PP&E

24.9 m48.8 m46.9 m45.5 m

Goodwill

49.5 m49.5 m49.5 m

Total Assets

1.4 b2.9 b2.9 b3.1 b

Accounts Payable

2.4 b

Total Debt

78 m108.5 m123.2 m219.8 m

Total Liabilities

2.7 b

Retained Earnings

(4.1 m)10.2 m27.7 m40.9 m

Total Equity

153.3 m333.8 m340.8 m

Debt to Equity Ratio

0.5 x0.4 x0.6 x

Debt to Assets Ratio

0.1 x0 x0 x0.1 x

Financial Leverage

9.3 x8.7 x9 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

118.9 m132.3 m148.8 m138.4 m103.8 m101.2 m107 m141.7 m53 m

Inventories

2.1 b2.1 b2.1 b2.2 b2.2 b2.3 b2.4 b2.4 b2.4 b

PP&E

49 m48.6 m48.4 m47.9 m47.5 m46 m45.6 m45.2 m45.8 m

Goodwill

50.9 m50.9 m49.5 m49.5 m49.5 m49.5 m49.5 m49.5 m49.5 m

Total Assets

2.9 b2.9 b2.9 b2.9 b2.9 b2.9 b3 b3.1 b3 b

Accounts Payable

2.3 b2.3 b2.3 b2.3 b2.3 b2.3 b2.3 b2.3 b2.3 b

Retained Earnings

673 k5.9 m14.5 m18.8 m23.7 m33.7 m38.6 m43.7 m45.6 m

Total Equity

329 m328.8 m338.6 m344.6 m349.5 m348.1 m

Financial Leverage

8.7 x8.8 x8.6 x8.7 x8.8 x8.7 x
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

Purchases of PP&E

(10.6 m)(164.3 m)

Interest Paid

11.1 m11.4 m11.6 m12.5 m
USDY, 2017

Revenue/Employee

62.6 k

Financial Leverage

8.7 x

Mercantile Bank Market Value History

Mercantile Bank Online and Social Media Presence

Mercantile Bank Company Life and Culture

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