Mercantile Bank
Income Statement
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Income statement is a financial statement that shows how profitable a business was over a given reporting period presenting its revenue, expenses or net income. Mercantile Bank's past years’ income statements indicate that its last revenue has increased compared to the previous period by 15% to $217,988,000. The net income raised on $82,217,000 and profit margin reached 38%. Total operating expenses were $94,598,000.
Profit Margin
| 2014 | 87.80M | 17.33M | 19.74% |
|---|---|---|---|
| 2015 | 117.21M | 27.02M | 23.05% |
| 2016 | 126.90M | 31.91M | 25.15% |
| 2017 | 128.74M | 31.27M | 24.29% |
| 2018 | 139.09M | 42.02M | 30.21% |
| 2019 | 151.49M | 49.45M | 32.65% |
| 2020 | 167.41M | 44.13M | 26.36% |
| 2021 | 179.22M | 59.02M | 32.93% |
| 2022 | 190.32M | 61.06M | 32.08% |
| 2023 | 217.98M | 82.21M | 37.72% |
MBWM Income Statement (2014 – 2023)
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||
Revenue | 217.98M | 190.32M | 179.22M | 167.41M | 151.49M | 139.09M | 128.74M | 126.90M | 117.21M | 87.80M |
Cost of revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Gross profit | 217.98M | 190.32M | 179.22M | 167.41M | 151.49M | 139.09M | 128.74M | 126.90M | 117.21M | 87.80M |
Operating exp. | ||||||||||
Research and development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Selling and marketing | 1.56M | 1.44M | 1.17M | 1.29M | 1.44M | 1.64M | 1.60M | 1.58M | 1.36M | 1.31M |
Total operating expenses | 94.59M | -90.93M | -105.50M | -112.57M | -91.03M | -65.37M | -66.87M | -67.42M | -67.22M | -51.27M |
Operating income | 102.69M | 99.38M | 73.71M | 54.84M | 60.46M | 73.72M | 61.87M | 59.47M | 49.98M | 36.53M |
Other income (expenses), net | 0 | -23.59M | 73.71M | -15.68M | 60.46M | -21.89M | -14.73M | -12.59M | -19.42M | -18.34M |
Income before tax | 102.69M | 75.79M | 73.71M | 54.84M | 60.46M | 51.82M | 46.08M | 46.88M | 38.83M | 25.19M |
Income tax expense | 20.48M | 14.72M | 14.69M | 10.71M | 11.00M | 9.79M | 14.80M | 14.97M | 11.81M | 7.86M |
Net income | 82.21M | 61.06M | 59.02M | 44.13M | 49.45M | 42.02M | 31.27M | 31.91M | 27.02M | 17.33M |
Earnings per share | ||||||||||
Basic EPS | 5.13 | 3.85 | 3.69 | 2.71 | 3.01 | 2.53 | 1.9 | 1.96 | 1.63 | 1.28 |
Diluted EPS | 5.13 | 3.85 | 3.69 | 2.71 | 3.01 | 2.53 | 1.9 | 1.96 | 1.62 | 1.28 |
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