MBWM

  
 
 
Mercantile Bank Corporation

Dividend Growth

Min. Div. Growth Past 7 Yrs. ≥ 15%: 8.9
Rolling 4-Yrs Div. Growth Past 7 Yrs ≥ 15%: 6.0%
Years of Div. Growth ≥ 15: 12

Income Generation

Current Yield 2.9≥ 20-Yrs Treasury Yield 4.7
Total Dividends ≥ 20-Yrs Treasury Coupons in 5 Yrs

Sustainability

Debt-To-Equity 0.59 ≤ 0.45 
Last 12Months Cash Payout 0.27 ≤ 0.6 

Profitability

5-Yr Avg. Return-on-Equity 13.3≥ 15%
Last 12Months Return-on-Equity 15.5≥ 15%
Last 12Months Net Profit Margin 26.4≥ 10% 

Fair Value

Average 5-Yrs High Yield 5.3%
Current Price $49.1 ≤ High Yield Price $26.8
Average 5-Yrs Price-to-Earning (P/E) 8.2
Current Price $49.1 ≤ Average P/E Price $41.2
Current Price $49.1 ≤ Fair Value $40.2 

Company Description
Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services to small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also offers commercial and industrial loans; vacant land, land development, and residential construction loans; owner and non-owner-occupied real estate loans; multi-family and residential rental property loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as new and used automobile and boat loans, and credit cards, as well as overdraft protection services; and residential mortgage and instalment loans. In addition, it provides courier services and safe deposit facilities; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products, as well as owns 22 automated teller machines and 19 video banking machines. As of January 18, 2022, the company operated 44 banking offices. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.

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