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Company Analysis

Mercantile Bank Corporation MBWM

A comprehensive view of key metrics, scores, and financial health for Mercantile Bank Corporation

Overview of Mercantile Bank Corporation

MBWM NMS
Financial Services Banks - Regional Small Cap
Mercantile Bank Corporation (MBWM), is a Small Cap company, in the Banks - Regional industry, last closed at $49.92, about 16.1% overvalued vs fair value, +12.0% 1Y return, ranked 406/1004 in sector.
$49.92
-0.30%
As of March 13, 2026
Previous close • Vol 90d: 25.8%
52-Week Range
Market Cap
$866.41M
Enterprise Value
$1.22B
Overall Score
Scores locked

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Top Beats

Quick Facts

Website https://www.mercbank.com
HQ Grand Rapids, MI
Employees 770
Fiscal year Dec 31

Next Events

Dividend Mar 18
Earnings Apr 21 Estimated

Fair Value Snapshot

Bear Base Bull
$23
$42
$78
Current: $49.92 -16% vs base

Engine Room Money Flow™

Small Cap

Financial Services - Where revenue goes and how value is created

Flow Steps
Interest Income
$321.5M
18.5%%
Interest Expense
$129.2M
Net Interest Income
$191.1M
-1.3%%
Total Revenue
$371.8M
60.6%%
Money Flow Bridge
Flow Direction: Money moves from left to right
Components: Breakdown shows composition of each stage
Industry-Specific: Financial Services

Quality & Reliability Indicators

Return on Equity
13.6%
Good

Net Income / Equity - key bank profitability metric

Locked Metric
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Owner's Pocket - Capital Allocation

Total Returned to Shareholders

Combined dividends, buybacks, and debt reduction

$22.5M
28.2% of Net Income

Where It Leaks

Cash Flow Health critical
Significant cash flow inefficiencies identified. Multiple high-impact leaks require attention.
1
Active Leaks
0/1
Improving
0
High Impact
1
Critical
Moat Analysis Bank Specialized

Competitive Advantage Assessment

Evaluating Mercantile Bank Corporation's durable competitive advantages across 6 defense dimensions

Overall Moat Strength
66
/100
Moderate
Scores based on quantitative metrics and qualitative factors

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Deposit Franchise

Moderate
73
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Trade-Off Ledger™

Where management spends the performance budget - Growth, Profitability, or Safety

Banks (Regional & Diversified) vs Industry Peers 91% Coverage
Trade-Off Triangle Visualization A ternary plot showing MBWM's balance between Growth (29.6%), Profitability (33.7%), and Safety (36.7%). Growth 30% Safety 37% Profitability 34%

Click axes to expand details. Marker shows current allocation.

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Growth

70th percentile vs peers
70
Key Signals
Asset Growth YoY 12.9% 84p Revenue CAGR 3Y 25.0% 75p Rev Growth YoY 60.6% 55p
Strengths
  • Asset Growth Yoy in top 20% of peers (12.9%, 84th percentile)
  • Roe in top 20% of peers (14.4%, 89th percentile)
  • Roa in top 20% of peers (1.4%, 85th percentile)
Risks

No significant risks identified for this axis.

Profitability

80th percentile vs peers
80
Key Signals
Strengths
Risks
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Safety

87th percentile vs peers
87
Key Signals
Strengths
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Two Futures

Scenario-based fair value ranges for Mercantile Bank Corporation.

Loading valuation model...
Unable to Compute Fair Value

This company cannot be valued using standard models.

What this means: The Scenario Theatre requires financial data (revenue, cash flow, shares outstanding) to calculate fair value estimates. This data may be unavailable for:

  • Recently listed companies (IPOs, SPACs)
  • Shell companies or holding companies
  • Companies that haven't filed recent financials
  • Foreign companies with limited data coverage
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Bear
-
- - -
- upside
-
Base
$41.86
- - -
-16.1% vs current
Snapshot base estimate
Bull
-
- - -
- upside
-
Fair Value Range Current: $-
$- $- $-
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