---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-012600"
form_type: "8-K"
ticker: "MBWM"
cik: "0001042729"
company_name: "MERCANTILE BANK CORP"
filed_at: "2025-04-22T23:59:59+00:00"
generated_at: "2026-05-23T08:56:39.472228+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Mercantile Bank Q1 net income $19.5M ($1.21 EPS) down from $1.34 YoY; NII up 2.5%

## Summary
- Net income $19.5M ($1.21 diluted EPS) vs $21.6M ($1.34) in Q1 2024.
- Net interest income $48.6M (+2.5% YoY); net interest margin 3.47% vs 3.74%.
- Noninterest income $8.7M (down from $10.9M); treasury management and mortgage banking fees rose, swap income fell.
- Nonperforming assets $5.4M (0.1% of total assets); net loan recoveries $0.1M, annualized 0.01% of avg loans.
- Total loans grew 3.2% annualized; deposits down $16.6M in Q1; loan-to-deposit ratio 99%.

## SEC filing metadata
- accession: 0001437749-25-012600
- form_type: 8-K
- ticker: MBWM
- cik: 0001042729
- company_name: MERCANTILE BANK CORP
- filed_at: 2025-04-22T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1042729/000143774925012600/0001437749-25-012600-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1042729/000143774925012600/mbwm20250128_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-012600
- JSON: https://secwatch.observer/filing/0001437749-25-012600.json
- Plain text: https://secwatch.observer/filing/0001437749-25-012600.txt

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