NASDAQ$MBWM

Mercantile Bank Corporation · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Mercantile Bank reported Q3 2025 revenue of $52.0M, net income of $15.0M.

For Q3 2025, Mercantile Bank reported Revenue was $52.0M, net income was $15.0M. The filing discusses operating performance, liquidity, and outlook in MD&A.

  • Revenue $52.0M for Q3 2025.
  • Net income $15.0M.
  • MD&A covers liquidity, capital allocation, and sector-specific risks.

Headline financials

Total Revenue

$62.4M

Previous: $58M+7.6%
EPS (adj)

$1.46

Previous: $1.22+19.7%
Net interest margin

3.5%

Previous: 3.5%-0.6%
Efficiency ratio

55.7%

Previous: 55.7%-0.1%
Return on avg assets

1.5%

Previous: 1.4%+11.1%
Return on avg equity

14.7%

Previous: 13.7%+7.2%
Yield on loans

6.4%

Previous: 6.7%-4.6%
Yield on securities

3.0%

Previous: 2.4%+25.1%
Yield on earning assets

5.8%

Previous: 6.1%-5.4%
Yield on total assets

5.4%

Previous: 5.7%-5.6%
Cost of deposits

2.2%

Previous: 2.5%-12.7%
Cost of borrowed funds

3.6%

Previous: 3.8%-3.7%
Cost of interest liabilities

3.1%

Previous: 3.5%-13.3%
Cost of funds (earning)

2.3%

Previous: 2.6%-12.1%
Cost of funds (total)

2.1%

Previous: 2.4%-12.0%
Tangible equity/assets

9.7%

Previous: 9.1%+6.8%
Tier 1 leverage ratio

10.9%

Previous: 10.7%+2.1%
Common equity risk ratio

11.3%

Previous: 10.5%+7.6%
Tier 1 risk capital ratio

12.2%

Previous: 11.4%+6.8%
Total risk capital ratio

14.9%

Previous: 14.1%+5.2%
Net loan charge-offs

-0.1%

Previous: -0.0%-400.0%
Nonperforming loans/loans

0.2%

Previous: 0.2%-4.5%
Nonperforming assets/assets

0.2%

Previous: 0.2%-5.9%
Allowance for credit losses

1.3%

No prior period
Loan to deposit ratio

96

Previous: 102-5.9%
Net Income

$23.8M

Previous: $19.6M+21.1%
Operating Income

$27.4M

Previous: $16.5M+65.9%

Revenue & EPS history

Mercantile Bank · Revenue · Quarterly

$62.4M

Q3 2025+7.6%vs Q3 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Revenue by segment

Mercantile Bank · $14.3M total across 1 segment · Q4 2020

  • Mortgage banking
    $14.3M+95.9%

Forward guidance

The periodic filing discusses operating priorities, liquidity, and risks; formal multi-year guidance varies by issuer.

Tailwinds

  • Management outlines strategic priorities and capital allocation.
  • Segment commentary supports the investment narrative where disclosed.

Headwinds

  • Macro, rates, or input costs may affect margins.
  • One-time items can affect quarter-over-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+0.8%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+2.9%

Avg return

30 days after

55%

36 / 66 earnings

Positive

+15.7%

Q2 2023

Best reaction

-12.5%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.7%-5.0%-1.5%
Q4 2025+0.8%+1.8%+6.8%
Q3 2025+0.6%+2.1%-1.2%
Q2 2025-0.0%-0.4%+1.2%
Q1 2025+3.5%+3.9%+10.0%
Q4 2024+9.7%+11.3%+9.6%
Q3 2024+7.0%+4.6%+13.9%
Q2 2024+12.2%+8.7%-2.8%
Q1 2024-5.2%+1.7%+12.7%
Q4 2023+0.4%+3.2%+2.9%
Q3 2023+5.2%+2.1%+17.2%
Q2 2023+15.7%+14.8%+14.6%
Q1 2023-2.2%-2.5%-10.2%
Q4 2022-5.3%-4.9%-1.0%
Q3 2022+2.4%-0.1%+6.7%
Q2 2022+5.0%+4.7%+14.2%
Q1 2022+1.5%-2.7%-12.2%
Q4 2021+3.3%+1.4%-0.3%
Q3 2021+5.9%+5.6%+8.5%
Q2 2021+5.4%+5.8%+6.9%
Q1 2021-2.3%-0.6%-1.7%
Q4 2020-0.2%+2.0%+0.9%
Q3 2020+4.7%+13.5%+12.3%
Q2 2020+4.9%+6.9%+0.4%
Q1 2020-2.8%-0.4%-2.1%
Q4 2019-1.8%-4.0%-7.2%
Q3 2019+5.9%+6.1%+8.2%
Q2 2019-0.1%+0.3%-2.6%
Q1 2019+0.1%-0.9%-1.3%
Q4 2018+6.0%+6.8%+10.0%
Q3 2018-0.3%-3.5%-0.1%
Q2 2018-2.9%-2.3%-4.3%
Q1 2018+2.0%+2.5%+4.2%
Q4 2017-2.7%-2.6%-7.3%
Q3 2017+6.0%+5.2%-0.5%
Q2 2017+0.3%-0.3%-4.5%
Q1 2017+0.5%+2.8%-4.0%
Q4 2016-9.0%-10.5%-9.0%
Q3 2016+3.8%+3.5%+23.8%
Q2 2016-0.0%-0.2%+3.3%
Q1 2016+12.0%
Q4 2015-0.9%
Q3 2015-0.0%
Q2 2015-3.7%
Q1 2015+1.0%
Q4 2014-5.5%
Q3 2014-1.6%
Q2 2014-3.1%
Q1 2014-4.2%
Q4 2013+6.4%
Q3 2013+4.6%
Q2 2013+2.8%
Q1 2013+0.2%
Q1 2010-2.7%
Q4 2012+0.4%
Q3 2012-4.8%
Q2 2012-0.3%
Q1 2011+0.3%
Q1 2012+1.9%
Q4 2009-1.3%
Q4 2011-1.3%
Q4 2010-1.3%
Q3 2011+2.4%
Q3 2010+2.4%
Q2 2010-12.5%
Q2 2011-12.5%

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