Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $31.9M | $31.3M | $42.0M | $49.5M | $44.1M | $59.0M | $61.1M | $82.2M | $79.6M | $88.8M |
| EPS (diluted) | $1.96 | $1.90 | $2.53 | $3.01 | $2.71 | $3.69 | $3.85 | $5.13 | $4.93 | $5.47 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $34.6M | $38.7M | $61.7M | $44.8M | $37.9M | $64.6M | $120M | $66.6M | $101M | $18.0M |
| Share buybacks | $3.73M | $0.00 | $5.94M | $7.18M | $6.59M | $21.4M | $0.00 | $0.00 | — | — |
| Dividends paid | $18.7M | $12.0M | $27.5M | $17.1M | $17.9M | $18.5M | $19.6M | $21.0M | $22.5M | $24.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $3.08B | $3.29B | $3.36B | $3.63B | $4.44B | $5.26B | $4.87B | $5.35B | $6.05B | $6.84B |
| Total liabilities | $2.74B | $2.92B | $2.99B | $3.22B | $4.00B | $4.80B | $4.43B | $4.83B | $5.47B | $6.11B |
| Shareholders' equity | $341M | $366M | $375M | $417M | $442M | $457M | $441M | $522M | $585M | $725M |
| Retained earnings | $40.9M | $61.0M | $75.5M | $108M | $134M | $175M | $216M | $278M | $335M | $399M |
| Shares (wtd avg diluted) | 16.3M | 16.5M | 16.6M | 16.4M | 16.3M | 16.0M | 15.9M | 16.0M | 16.1M | 16.2M |
Every figure is extracted from MERCANTILE BANK CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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