Mercantile Bank (MBWM) Revenue & Revenue Breakdown


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Mercantile Bank Revenue Highlights


Latest Revenue (Y)

$303.50M

Latest Revenue (Q)

$93.08M

Mercantile Bank Revenue by Period


Mercantile Bank Revenue by Year

DateRevenueChange
2023-12-31$303.50M59.47%
2022-12-31$190.32M6.19%
2021-12-31$179.22M7.05%
2020-12-31$167.42M10.51%
2019-12-31$151.49M8.91%
2018-12-31$139.09M8.03%
2017-12-31$128.75M1.45%
2016-12-31$126.91M8.27%
2015-12-31$117.21M33.49%
2014-12-31$87.81M61.62%
2013-12-31$54.33M-0.67%
2012-12-31$54.70M-6.53%
2011-12-31$58.52M-10.78%
2010-12-31$65.59M11.38%
2009-12-31$58.89M10.10%
2008-12-31$53.49M-12.92%
2007-12-31$61.43M-8.11%
2006-12-31$66.85M9.67%
2005-12-31$60.95M30.44%
2004-12-31$46.73M31.00%
2003-12-31$35.67M33.57%
2002-12-31$26.71M45.96%
2001-12-31$18.30M35.86%
2000-12-31$13.47M32.03%
1999-12-31$10.20M233.33%
1998-12-31$3.06M-

Mercantile Bank generated $303.50M in revenue during NA 2023, up 59.47% compared to the previous quarter, and up 218.20% compared to the same period a year ago.

Mercantile Bank Revenue by Quarter

DateRevenueChange
2024-09-30$93.08M5.10%
2024-06-30$88.56M1.11%
2024-03-31$87.59M18.68%
2023-12-31$73.80M26.79%
2023-09-30$58.21M5.46%
2023-06-30$55.20M-0.25%
2023-03-31$55.34M-5.35%
2022-12-31$58.46M17.80%
2022-09-30$49.63M17.98%
2022-06-30$42.07M4.74%
2022-03-31$40.16M-11.08%
2021-12-31$45.17M-3.27%
2021-09-30$46.69M5.24%
2021-06-30$44.37M3.19%
2021-03-31$43.00M-6.90%
2020-12-31$46.18M7.86%
2020-09-30$42.82M3.03%
2020-06-30$41.55M12.72%
2020-03-31$36.87M-4.19%
2019-12-31$38.48M0.52%
2019-09-30$38.28M2.22%
2019-06-30$37.45M0.46%
2019-03-31$37.28M3.01%
2018-12-31$36.19M4.75%
2018-09-30$34.55M2.29%
2018-06-30$33.77M-2.33%
2018-03-31$34.58M5.09%
2017-12-31$32.91M-1.03%
2017-09-30$33.25M6.45%
2017-06-30$31.23M-0.40%
2017-03-31$31.36M1.03%
2016-12-31$31.04M-2.19%
2016-09-30$31.73M1.83%
2016-06-30$31.16M-5.47%
2016-03-31$32.97M10.98%
2015-12-31$29.70M-0.66%
2015-09-30$29.90M2.89%
2015-06-30$29.06M1.82%
2015-03-31$28.54M0.13%
2014-12-31$28.51M-1.32%
2014-09-30$28.89M61.92%
2014-06-30$17.84M41.93%
2014-03-31$12.57M-12.01%
2013-12-31$14.29M4.45%
2013-09-30$13.68M4.53%
2013-06-30$13.08M-1.48%
2013-03-31$13.28M-3.76%
2012-12-31$13.80M1.17%
2012-09-30$13.64M1.41%
2012-06-30$13.45M-2.55%
2012-03-31$13.80M-3.87%
2011-12-31$14.36M1.84%
2011-09-30$14.10M-5.13%
2011-06-30$14.86M-2.24%
2011-03-31$15.20M-4.95%
2010-12-31$15.99M-1.43%
2010-09-30$16.22M-1.18%
2010-06-30$16.42M-3.21%
2010-03-31$16.96M2.89%
2009-12-31$16.48M10.65%
2009-09-30$14.90M6.29%
2009-06-30$14.02M3.89%
2009-03-31$13.49M-5.80%
2008-12-31$14.32M5.74%
2008-09-30$13.54M9.68%
2008-06-30$12.35M-6.95%
2008-03-31$13.27M-

Mercantile Bank generated $93.08M in revenue during Q3 2024, up 5.10% compared to the previous quarter, and up 168.63% compared to the same period a year ago.

Mercantile Bank Revenue Breakdown


Mercantile Bank Revenue Breakdown by Product

Quarterly Revenue by Product

Product/ServiceSep 24Jun 24
Credit and Debit Card$2.26M$2.27M
Customer Service$231.00K$183.00K
Payroll Processing$713.00K$686.00K
Service Charges on Deposit and Sweep Accounts$1.75M$1.69M

Mercantile Bank's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Credit and Debit Card (45.56%), Service Charges on Deposit and Sweep Accounts (35.39%), Payroll Processing (14.39%), and Customer Service (4.66%).

Mercantile Bank Peer Comparison by Revenue


TickerCompanyLast Year RevenueLast Quarter Revenue
LKFNLakeland Financial$343.27M$95.02M
MBWMMercantile Bank$303.50M$93.08M
MOFGMidWestOne Financial Group$268.02M$94.19M
FNLCFirst Bancorp$143.61M$42.41M
GSBCGreat Southern Bancorp$46.29M$91.36M
MCBCMacatawa Bank$18.44M$29.08M

MBWM Revenue FAQ


What is Mercantile Bank’s yearly revenue?

Mercantile Bank's yearly revenue for 2023 was $303.5M, representing an increase of 59.47% compared to 2022. The company's yearly revenue for 2022 was $190.32M, representing an increase of 6.19% compared to 2021. MBWM's yearly revenue for 2021 was $179.22M, representing an increase of 7.05% compared to 2020.

What is Mercantile Bank’s quarterly revenue?

Mercantile Bank's quarterly revenue for Q3 2024 was $93.08M, a 5.10% increase from the previous quarter (Q2 2024), and a 59.91% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $88.56M, a 1.11% increase from the previous quarter (Q1 2024), and a 60.45% increase year-over-year (Q2 2023). MBWM's quarterly revenue for Q1 2024 was $87.59M, a 18.68% increase from the previous quarter (Q4 2023), and a 58.29% increase year-over-year (Q1 2023).

What is Mercantile Bank’s revenue growth rate?

Mercantile Bank's revenue growth rate for the last 3 years (2021-2023) was 69.34%, and for the last 5 years (2019-2023) was 100.34%.