MERCANTILE BANK CORPORATION
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $25.9M | $22.7M | $22.8M | $23.8M | $22.6M | $19.5M | $19.6M | $19.6M |
| Depreciation & Amortization | $1.2M | $1.7M | $1.4M | $1.3M | $1.4M | $1.6M | $2.4M | $2.7M |
| Depreciation | $1.5M | $1.5M | $1.3M | $1.3M | $1.3M | $1.3M | $1.4M | $1.5M |
| Amortization | $865.0K | $865.0K | — | — | $0 | $0 | — | — |
| Stock-Based Compensation | $1.0M | $971.0K | $821.0K | $929.0K | $937.0K | $786.0K | $785.0K | $898.0K |
| Net Cash from Operating Activities | $15.3M | $28.3M | $5.6M | $23.1M | $-7.8M | $-3.0M | $59.9M | $-8.1M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-109.5M | $-24.7M | $8.0M | $63.6M | $-95.3M | $-82.0M | $-103.0M | $-153.9M |
| Financing Activities | ||||||||
| Dividends Paid | $6.6M | $6.6M | $6.1M | $6.1M | $5.9M | $5.9M | $5.7M | $5.7M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-144.2M | $102.4M | $-17.3M | $94.2M | $13.7M | $77.5M | $107.6M | $292.9M |
| Net Change in Cash | $-238.4M | $106.0M | $-3.7M | $180.9M | $-89.4M | $-7.6M | $64.5M | $130.9M |
| Free Cash Flow | — | — | — | — | — | — | — | — |