MBWM - Intrinsic Value and Financial Analysis - Mercantile Bank Corporation

Mercantile Bank Corporation MBWM

Financial Services - Banks - Regional - NASDAQ - US

Watchlist

$ 49.1

-0.708 %

$ 793 M

Market Cap

9.9

P/E

BALANCE SHEET

5.36 B ASSETS

Growth Rates

1Year 10.00%

3Years 6.50%

5Years 9.77%

7Years 8.22%

10Years 14.15%

4.84 B LIABILITIES

Growth Rates

1Year 9.18%

3Years 6.58%

5Years 10.11%

7Years 8.45%

10Years 14.28%

522 M EQUITY

Growth Rates

1Year 18.29%

3Years 5.75%

5Years 6.83%

7Years 6.28%

10Years 13.04%

BALANCE SHEET DECOMPOSITION

Balance Sheet Decomposition Mercantile Bank Corporation

5.36 B ASSETS
4.84 B LIABILITIES

Current Assets	131 M
Cash & Short-Term Investments	131 M
Receivables	0
Other Current Assets	0
Non-Current Assets	5.83 B
Long-Term Investments	617 M
PP&E	50.9 M
Other Non-Current Assets	5.16 B

Current Liabilities	1.95 B
Accounts Payable	0
Short-Term Debt	0
Other Current Liabilities	1.95 B
Non-Current Liabilities	2.89 B
Long-Term Debt	516 M
Other Non-Current Liabilities	2.38 B

Balance Sheet

Millions

	Dec-2023	Dec-2022	Dec-2021	Dec-2020	Dec-2019	Dec-2018	Dec-2017	Dec-2016	Dec-2015	Dec-2014	Dec-2013	Dec-2012	Dec-2011	Dec-2010	Dec-2009	Dec-2008	Dec-2007	Dec-2006	Dec-2005	Dec-2004	Dec-2003	Dec-2002	Dec-2001	Dec-2000	Dec-1999	Dec-1998
ASSETS
Cash & Cash Equivalents	61.8	96.8	975.2	626.0	233.7	75.4	200.1	183.6	89.3	161.5	23.5	31.1	22.0	6.7	18.9	16.8	29.1	51.1	36.2	20.7	16.3	23.4	14.5	11.7	13.7	6.5
Short Term Investments	617.1	602.9	592.7	387.3	334.7	337.4	335.7	328.1	347.0	432.9	131.2	138.3	0	9.6	1.5	0.4	0.5	0	0	0	0	0	0	0	0	0
Receivables	0	0	0	0	0	0	0	0	0	0	0	3 874.0	0	5 942.0	0	0	0	0	8.3	5.6	4.1	3.3	2.8	2.8	1.8	0
Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Current Assets	130.5	699.7	1 567.9	1 013.4	568.4	2 923.2	2 847.9	2 649.6	2 447.6	2 346.6	17.4	162 490.0	15.1	22 216.0	23.1	21.4	33.6	38.3	44.5	26.3	20.4	26.7	17.3	14.5	15.5	6.5
PP&E	50.9	51.5	57.3	59.0	57.3	48.3	46.0	45.5	46.9	48.8	24.9	25.9	26.8	27.9	29.7	32.3	34.4	33.5	30.2	24.6	15.3	12.2	9.6	4.1	3.5	0
Intangible Assets	0	0.6	1.4	2.4	3.8	5.6	7.6	10.0	12.6	15.6	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill	49.5	49.5	49.5	49.5	49.5	49.5	49.5	49.5	49.5	49.5	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	617.1	602.9	592.7	387.3	334.7	337.4	335.7	328.1	347.0	432.9	131.2	138.3	173.0	230.4	243.2	227.2	202.3	195.2	174.3	146.3	116.8	96.3	79.0	59.8	41.2	0
Other Long Term Assets	(717.5)	(28.9)	(11.6)	(11.6)	(7.4)	(9.0)	(7.5)	(12.8)	2 713.8	2 615.1	(156.1)	25 754.8	(199.8)	27 614.7	(272.9)	(259.5)	(236.6)	(228.7)	(204.5)	(170.9)	(132.1)	(108.5)	(88.5)	(63.9)	(44.7)	0
Other Assets	(598.9)	3 468.4	2 989.0	2 925.8	2 619.2	0	0	0	0	0	1 253.5	(209 001.1)	1 218.4	(48 456.6)	1 610.3	1 927.1	1 851.1	1 800.2	1 589.2	1 338.9	1 050.3	786.6	592.9	434.4	307.8	216.2
Total Assets	5 360.1	4 872.6	5 257.7	4 437.3	3 632.9	3 363.9	3 286.7	3 082.6	2 903.6	2 893.4	1 427.0	1 422.9	1 433.2	1 632.4	1 906.2	2 208.0	2 121.4	2 067.3	1 838.2	1 536.1	1 202.8	921.9	698.7	512.7	368.0	216.2
LIABILITIES
Accounts Payable	0	78.2	24.6	24.3	22.4	25.2	14.2	15.2	16.4	12.3	7.4	8.4	4.2	0	0	0	23.8	0	0	0	0	0	0	0	0	0
Short Term Debt	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	130.0	120.0	90.0	15.0	0	0	0	0
Other Current Liabilities	1 945.4	(78.2)	(24.6)	(24.3)	(22.4)	(25.2)	110.3	(15.2)	(16.4)	(12.3)	(7.4)	(8.4)	(4.2)	0	0	0	(23.8)	0	(130.0)	(120.0)	(90.0)	(15.0)	0	0	0	0
Total Current Liabilities	1 945.4	78.2	24.6	24.3	22.4	25.2	14.2	15.2	16.4	12.3	65.9	6.9	80.1	0	98.5	97.3	93.3	75.9	130.0	120.0	45.0	15.0	611.0	464.8	324.1	189.5
Long Term Debt	515.7	445.8	495.9	441.6	400.9	396.2	265.5	219.8	123.2	108.5	78.0	68.0	79.4	109.8	254.9	322.5	217.0	131.3	165.3	34.6	17.6	0.6	16.0	16.1	16.0	0
Deferred Tax Income	0	7.0	7.4	7.8	7.3	5.8	5.5	9.1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Liabilities	2 376.8	3 985.4	4 305.3	3 554.2	2 815.5	268.4	0	188.9	2 446.6	2 456.7	1 195.7	(68.0)	(79.4)	(109.8)	(254.9)	(322.5)	(217.0)	(131.3)	(165.3)	(34.6)	(17.6)	(0.6)	(16.0)	(16.1)	(16.0)	0
Total Liabilities	4 837.9	4 431.2	4 801.2	3 995.8	3 216.4	2 988.7	2 920.8	2 741.8	2 569.8	2 565.2	1 273.6	1 276.3	1 268.2	1 506.5	1 766.1	2 033.6	1 943.2	1 895.4	1 683.1	1 394.5	1 072.6	842.0	627.2	480.9	340.0	189.5
EQUITY
Common Stock	295.1	290.4	285.8	302.0	305.0	308.0	309.8	305.5	304.8	317.9	163.0	166.1	0	173 815.0	0	0	0	0	148.5	131.0	118.6	75.5	69.4	29.9	28.2	0
Retained Earnings	277.5	216.3	174.5	134.0	107.8	75.5	60.1	40.9	27.7	10.2	(4.1)	(21.1)	(32.6)	(68.8)	(54.2)	(1.3)	4.9	11.8	8.0	10.5	11.4	3.2	1.6	1.6	0.6	0
Other Accumulative Comprehensive Income/Loss	(50.5)	(65.3)	(3.7)	5.5	3.7	(8.2)	(4.0)	(5.6)	1.3	16 K	(5.6)	1.6	3.3	0.8	0.9	3.3	0.3	(1.1)	(1.4)	0.1	0.2	1.1	0.4	0.3	(0.8)	0
Total Equity	522.1	441.4	456.6	441.6	416.6	375.2	365.9	340.8	333.8	328.1	153.3	146.6	165.0	125.9	140.1	174.4	178.2	171.9	155.1	141.6	130.2	79.8	71.5	31.9	28.0	26.7
Total Liabilities and Equity	5 360.1	4 872.6	5 257.7	4 437.3	3 632.9	3 363.9	3 286.7	3 082.6	2 903.6	2 893.4	1 427.0	1 422.9	1 433.2	1 632.4	1 906.2	2 208.0	2 121.4	2 067.3	1 838.2	1 536.1	1 202.8	921.9	698.7	512.7	368.0	216.2
SHARES OUTSTANDING
Common Shares Outstanding	16.0	15.9	16.0	16.3	16.4	16.6	16.5	16.3	16.6	13.5	8.7	8.6	8.6	8.5	8.5	8.5	8.5	8.8	9.2	8.7	7.4	6.9	5.4	3.8	3.7	3.1

Balance Sheet

Premium Plan

Unlimited Plan