---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-001456"
form_type: "8-K"
ticker: "MBWM"
cik: "0001042729"
company_name: "MERCANTILE BANK CORP"
filed_at: "2025-01-21T23:59:59+00:00"
generated_at: "2026-05-27T21:50:38.217224+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Mercantile Bank Q4 net income down to $19.6M ($1.22); full-year EPS $4.93, declares higher dividend

## Summary
- Q4 2024 net income $19.6M ($1.22 diluted EPS) vs $20.0M ($1.25) in Q4 2023; full-year net income $79.6M ($4.93) vs $82.2M ($5.13).
- Net interest margin fell to 3.41% in Q4 from 3.92% a year ago; cost of funds rose to 2.40% from 2.03%.
- Total loans grew 6.9% in 2024, led by commercial loans up 8.5% ($292M); local deposits up $816M, cutting loan-to-deposit ratio to 98%.
- Nonperforming assets remained low at $5.7M (0.1% of total assets); full-year net charge-offs $2.9M (0.07% of avg loans).
- Board declared increased Q1 2025 regular cash dividend; total risk-based capital ratio 13.9%, well above 'well-capitalized' threshold.

## SEC filing metadata
- accession: 0001437749-25-001456
- form_type: 8-K
- ticker: MBWM
- cik: 0001042729
- company_name: MERCANTILE BANK CORP
- filed_at: 2025-01-21T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042729/000143774925001456/0001437749-25-001456-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042729/000143774925001456/mbwm20250107_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-001456
- JSON: https://secwatch.observer/filing/0001437749-25-001456.json
- Plain text: https://secwatch.observer/filing/0001437749-25-001456.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.