MERCANTILE BANK CORPORATION
Income Statement
| Line Item | Jun 2026 | Mar 2026 | Sep 2025 | Jun 2025 | Mar 2025 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $68.8M | $67.6M | $62.4M | $60.9M | $57.3M | $58.0M | $56.8M | $58.2M |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $31.2M | $27.3M | $27.4M | $26.0M | $24.0M | $24.6M | $23.5M | $56.3M |
| Operating Margin | 45.4% | 40.4% | 44.0% | 42.6% | 42.0% | 42.4% | 41.4% | 96.8% |
| Interest Expense | — | — | — | — | — | — | — | $29.4M |
| Pretax Income | $31.2M | $27.3M | $27.4M | $26.0M | $24.0M | $24.6M | $23.5M | $27.0M |
| Income Tax Expense | $5.3M | $4.6M | $3.7M | $3.3M | $4.5M | $4.9M | $4.7M | $5.4M |
| Net Income | $25.9M | $22.7M | $23.8M | $22.6M | $19.5M | $19.6M | $18.8M | $21.6M |
| Net Margin | 37.7% | 33.6% | 38.1% | 37.1% | 34.1% | 33.8% | 33.1% | 37.0% |
| EPS (Basic) | $1.50 | $1.32 | $1.46 | $1.39 | $1.21 | $1.22 | $1.17 | $1.34 |
| EPS (Diluted) | $1.50 | $1.32 | $1.46 | $1.39 | $1.21 | $1.22 | $1.17 | $1.34 |
| Shares Outstanding (Basic) | 17.3M | 17.2M | 16.2M | 16.2M | 16.2M | 16.1M | 16.1M | 16.1M |
| Shares Outstanding (Diluted) | 17.3M | 17.2M | 16.2M | 16.2M | 16.2M | 16.1M | 16.1M | 16.1M |
| Dividends Per Share | $0.39 | $0.39 | $0.38 | $0.37 | $0.37 | $0.36 | $0.35 | $0.35 |