Mercantile Bank: Income and Expense
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Data as of · Call Report Schedule RI How we update
Mercantile Bank reported all 18 line items on this page on its Q3 2026 filing. Net income was $25.5M in Q3 2026, down 4.2% from $26.6M in Q3 2025.
What the income and expense page covers and where each line comes from.
Open the full profitability analysis: return on equity taken apart into each income statement line's share of average assets and the leverage on equity, what moved it since a year earlier, and peers measured the same way.
Total noninterest expense rose 7.4% from Q2 2026 to Q3 2026, ending at $36.9M against $34.4M. It was the largest change among the key lines on this page. Within Michigan, Mercantile Bank is 23rd of 72 on return on assets, 1.59% as of Q3 2026. Mercantile Bank reported 1.59% on return on assets for Q3 2026, 0.29 points above the 1.30% median for banks in the $1B-10B asset tier.
Net income
| Line item | Q3 2026 |
|---|---|
| Net income | $25.5M |
| Return on assets | 1.59% |
| Return on equity | 14.12% |
Source: Call Report Schedule RI. Open the filed call report for Q3 2026 on the FFIEC CDR.
Interest income and expense
| Line item | Q3 2026 |
|---|---|
| Interest income on loans | $73.7M |
| Total interest expense | $27.3M |
| Interest expense on deposits | $23.3M |
| Net interest margin | 3.76% |
Source: Call Report Schedule RI. Open the filed call report for Q3 2026 on the FFIEC CDR.
Noninterest income and expense
| Line item | Q3 2026 |
|---|---|
| Total noninterest expense | $36.9M |
| Salaries and general administrative expense | $26.8M |
| Amortization of intangibles | $0 |
| Other noninterest expense | $10.1M |
| Efficiency ratio | 53.21% |
Source: Call Report Schedule RI. Open the filed call report for Q3 2026 on the FFIEC CDR.
Productivity
| Line item | Q3 2026 |
|---|---|
| Assets per employee | $8.9M |
| Revenue per employee | $377K |
| Full-time equivalent employees | 731 |
Source: Call Report Schedule RI. Open the filed call report for Q3 2026 on the FFIEC CDR.
Credit costs and securities results
| Line item | Q3 2026 |
|---|---|
| Provision for credit losses | $1.2M |
| Provision expense to average assets | 0.08% |
| Realized gain/(loss) on securities | $0 |
Source: Call Report Schedule RI. Open the filed call report for Q3 2026 on the FFIEC CDR.
Income and Expense trend
Income and Expense by quarter
| Quarter | Net income | Return on assets | Return on equity | Efficiency ratio |
|---|---|---|---|---|
| Q4 2023 | $22.4M | 1.69% | 14.81% | 47.79% |
| Q1 2024 | $24.3M | 1.80% | 15.36% | 47.05% |
| Q2 2024 | $21.6M | 1.55% | 13.35% | 48.69% |
| Q3 2024 | $22.4M | 1.55% | 13.38% | 50.92% |
| Q4 2024 | $21.4M | 1.43% | 12.47% | 53.02% |
| Q1 2025 | $22.3M | 1.48% | 12.87% | 50.81% |
| Q2 2025 | $25.2M | 1.67% | 14.28% | 49.44% |
| Q3 2025 | $26.6M | 1.70% | 14.64% | 49.91% |
| Q4 2025 | $24.7M | 1.58% | 13.49% | 51.22% |
| Q1 2026 | $23.8M | 1.52% | 13.13% | 55.74% |
| Q2 2026 | $26.7M | 1.70% | 14.68% | 53.14% |
| Q3 2026 | $25.5M | 1.59% | 14.12% | 53.21% |
Mercantile Bank income and expense, quarter by quarter
Income and Expense since Q3 2021 · peer percentiles on every line item · watchlist alerts
Unlock this bank, freeSource: Call Report Schedule RI, Q3 2026. How these pages are built. See the full Mercantile Bank profile, peer group comparison, or how this data updates.
Regulator records: FDIC BankFind (cert 34598) · FFIEC NIC profile (RSSD 2608754)