MBWM | Mercantile Bank Corporation Stock Financials Income Statements Annual

(Stock Exchange: NASDAQ)

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Financial Year End	2023-12-31	2023-09-30	2023-03-31	2022-12-31	2022-03-31	2021-12-31	2021-03-31	2020-12-31	2020-03-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31
Revenue	303.50M	227.15M	190.32M	190.32M	179.22M	179.22M	167.42M	167.42M	151.49M	151.49M	139.09M	128.75M	126.91M	117.21M	87.81M	54.33M	54.70M	58.52M	65.59M	58.89M	53.49M	61.43M	66.85M	60.95M	46.73M	35.67M	26.71M	18.30M	13.47M	10.20M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	303.50M	227.15M	190.32M	190.32M	179.22M	179.22M	167.42M	167.42M	151.49M	151.49M	139.09M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Expenses	33.87M	N/A	-90.94M	-90.94M	-105.51M	-105.51M	-112.57M	-112.57M	-91.03M	-91.03M	-65.37M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Admin	72.62M	70.37M	77.48M	77.48M	77.55M	77.55M	70.24M	70.24M	63.07M	63.07M	59.47M	56.19M	54.28M	53.37M	42.07M	25.64M	30.79M	24.20M	26.17M	23.51M	23.05M	23.46M	19.58M	19.19M	14.42M	11.70M	8.07M	5.96M	4.47M	3.50M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Other Operating Expenses	-33.87M	N/A	-168.42M	-168.42M	-183.06M	-183.06M	-182.81M	-182.81M	-154.10M	-154.10M	-127.42M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	269.63M	104.36M	99.39M	99.39M	73.72M	73.72M	54.85M	54.85M	60.46M	60.46M	73.72M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Other Expenses / Income	102.70M	N/A	-23.59M	-23.59M	N/A	73.72M	N/A	54.85M	N/A	60.46M	-21.90M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Before Tax Income	102.70M	104.36M	75.79M	75.79M	73.72M	73.72M	54.85M	54.85M	60.46M	60.46M	51.82M	46.08M	46.89M	38.83M	25.20M	25.12M	18.17M	10.12M	-13.36M	-46.60M	-9.84M	12.00M	28.81M	26.05M	18.86M	13.80M	10.92M	6.47M	4.10M	2.40M
Income Tax Expenses	20.48M	20.37M	14.73M	14.73M	14.70M	14.70M	10.71M	10.71M	11.00M	11.00M	9.80M	14.81M	14.97M	11.81M	7.87M	8.09M	5.64M	-27.36M	-47.00K	5.49M	-4.88M	3.04M	8.96M	8.14M	5.14M	3.79M	3.17M	1.99M	1.30M	300.00K
Net Income	82.22M	83.99M	70.55M	61.06M	56.27M	59.02M	47.70M	44.14M	48.30M	49.46M	42.02M	31.27M	31.91M	27.02M	17.33M	17.03M	12.54M	37.48M	-13.32M	-52.09M	-4.96M	8.97M	19.85M	17.90M	13.72M	10.02M	7.76M	4.48M	2.79M	2.10M
Interest Expenses	22.37M	60.28M	23.59M	23.59M	19.43M	19.43M	26.07M	26.07M	33.80M	33.80M	21.90M	15.79M	12.59M	11.15M	11.34M	10.79M	13.22M	19.83M	31.79M	53.58M	74.86M	88.62M	75.67M	46.84M	26.59M	23.35M	23.98M	28.20M	24.56M	13.40M
Basic Shares Outstanding	16.02M	N/A	15.86M	15.86M	15.99M	15.99M	16.27M	16.27M	16.41M	16.41M	16.60M	16.48M	16.29M	16.61M	13.51M	8.71M	8.63M	8.60M	8.51M	8.49M	8.47M	8.46M	8.40M	8.36M	8.32M	7.04M	6.92M	5.13M	3.65M	3.49M
Diluted Shares Outstanding	16.02M	N/A	15.86M	15.86M	15.99M	15.99M	16.27M	16.27M	16.41M	16.41M	16.61M	16.49M	16.31M	16.64M	13.56M	8.72M	8.85M	8.60M	8.51M	8.49M	8.47M	8.46M	8.51M	8.54M	8.49M	7.20M	7.02M	5.22M	3.67M	3.49M
EBITDA	11.50M	116.31M	112.33M	112.33M	87.39M	87.39M	64.27M	64.27M	70.01M	70.01M	83.49M	72.24M	69.05M	61.64M	44.15M	38.12M	33.62M	32.16M	20.87M	9.56M	67.79M	103.70M	107.37M	75.44M	47.15M	39.10M	36.27M	35.33M	29.25M	16.30M
EBITDA Margin	3.79%	51.20%	59.02%	59.02%	48.76%	48.76%	38.39%	38.39%	46.22%	46.22%	60.02%	56.11%	54.41%	52.59%	50.28%	70.16%	61.48%	54.95%	31.82%	16.23%	126.73%	168.83%	160.62%	123.77%	100.90%	109.60%	135.80%	193.06%	217.18%	159.80%
EBIT	125.07M	164.64M	108.87M	99.39M	90.40M	93.15M	84.48M	80.92M	93.11M	94.26M	73.72M	61.88M	59.48M	49.98M	36.54M	35.91M	31.39M	29.96M	18.43M	6.98M	65.03M	100.62M	104.48M	72.88M	45.45M	37.15M	34.90M	34.67M	28.66M	15.80M
EBIT Margin	41.21%	72.48%	57.20%	52.22%	50.44%	51.97%	50.46%	48.33%	61.46%	62.22%	53.00%	48.06%	46.87%	42.64%	41.61%	66.10%	57.39%	51.19%	28.10%	11.85%	121.57%	163.81%	156.30%	119.57%	97.27%	104.14%	130.68%	189.51%	212.80%	154.90%
Financial Year End	2023-12-31	2023-09-30	2023-03-31	2022-12-31	2022-03-31	2021-12-31	2021-03-31	2020-12-31	2020-03-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31