MERCANTILE BANK CORP (MBWM)
Financials · Community banking / regional bank · NASDAQ
A Michigan-based community bank holding company serving small- to medium-sized businesses and retail customers across 54 office locations in Michigan.
What MERCANTILE BANK CORP does
Mercantile Bank Corporation is a bank holding company organized under Michigan law that operates through its wholly owned subsidiaries Mercantile Bank and Eastern Michigan Bank (acquired December 2025). The company provides commercial banking services, primarily to small- to medium-sized businesses, and retail banking services across 54 combined office locations in Michigan. The banks offer secured and unsecured commercial, construction, mortgage, and consumer loans, as well as deposit products including checking, savings, and time deposits. The company also operates an insurance subsidiary offering personal and small business insurance products through a partnership with Hub International.
Themes: ["Community banking / regional bank","Small to medium-sized business lending","Retail banking","Michigan regional operations","Bank consolidation / merger integration"]
Fundamentals
- Price$56.60 as of 2026-07-09 close
- Market cap$970M as of 2026-07-10
- 1-year return+14.7% as of 2026-07-09 close
- P/E10.56 as of 2026-07-10
- Net margin+37.0% as of 2026-07-10
- ROE+13.4% as of 2026-07-10
- Debt / equity0.53 as of 2026-07-10
- Revenue growth (YoY)+59.3% as of 2026-07-10
- Beta0.83 as of 2026-07-10
Dividend: yield +2.8%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Integration risks from the December 2025 Eastern Michigan Bank merger, including core processor conversion planned for Q1 2027 and potential operational disruptions during bank consolidation","Geographic concentration in Michigan exposes the company to regional economic downturns and limits diversification across broader markets","Interest rate and credit risk exposure through loan portfolio of approximately $4.8 billion, with potential for increased provisions for credit losses in economic downturns"]
Competitors & peers
- Mackinac Savings Bank
- Isabella Bank Corporation
- MainSource Financial Group
- Horizon Bancorp
- Lakeland Bank
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.