MBWM PEER ANALYSIS

Mercantile Bank Corporation — metric-by-metric comparison with peers and the industry median

MBWMMercantile Bank Corporation

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Overall Profile & Returns

· Banks - Regional

Position Within Industry

0 = weak quartile, 100 = strong quartile

MBWMIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	MBWM	SKBNK	LLOY	LB	NWG	TSKB	Ind. Median
P/E	10.84	20.06	13.38	116.44	9.16	2.96●	12.88
P/B	1.35	3.18	1.41	0.68●	1.41	0.71	1.29
EV/EBITDA	14.85	1.78	14.82	306.37	-8.43●	2.21	9.24
P/S	—	—	—	—	—	—	—

Financial Health
Metric	MBWM	SKBNK	LLOY	LB	NWG	TSKB	Ind. Median
Current Ratio	0.22	—	0.12	0.01	0.25●	—	0.31
Debt/Equity	95.4%	0.0%●	209.8%	744.5%	17.0%	0.0%●	38.0%
NetDebt/EBITDA	5.89	-13.41	5.39	280.57	-14.68●	-0.47	-0.58

Profitability
Metric	MBWM	SKBNK	LLOY	LB	NWG	TSKB	Ind. Median
Net Margin	24.2%	14.2%	25.9%	1.4%	20.1%	54.9%●	20.6%
ROE	13.7%	17.5%	10.6%	1.0%	14.9%	27.4%●	10.9%
ROA	1.4%	1.2%	0.5%	0.1%	0.8%	3.7%●	1.2%
EBITDA Margin	—	—	—	—	—	—	20.4%

Growth + Dividend
Metric	MBWM	SKBNK	LLOY	LB	NWG	TSKB	Ind. Median
Rev. Growth	—	—	—	—	—	—	—
NI Growth	18.5%●	8.1%	16.2%	-80.9%	16.0%	-1.3%	19.4%
Div. Yield	2.6%	—	3.2%	4.7%	4.8%●	—	2.5%
Payout	26.9%	—	—	335.1%	—	—	31.4%

Valuation
Metric	MBWM	CCNE	BFST	CPF	HBNC	TRST	Ind. Median
P/E	10.84●	12.14	11.05	12.57	—	15.44	12.88
P/B	1.35	1.12	1.01●	1.70	1.45	1.45	1.29
EV/EBITDA	14.85	12.30	1.44●	1.94	—	11.65	9.24
P/S	—	—	—	—	—	—	—

Financial Health
Metric	MBWM	CCNE	BFST	CPF	HBNC	TRST	Ind. Median
Current Ratio	0.22	0.67	0.17	0.14	1.48●	0.49	0.31
Debt/Equity	95.4%	37.2%	38.8%	17.1%●	54.6%	22.2%	38.0%
NetDebt/EBITDA	5.89	2.49	-6.73	-7.01●	-1.71	1.14	-0.58

Profitability
Metric	MBWM	CCNE	BFST	CPF	HBNC	TRST	Ind. Median
Net Margin	24.2%●	18.7%	17.5%	22.2%	-154.3%	22.4%	20.6%
ROE	13.7%	10.8%	10.0%	14.0%●	-20.1%	9.3%	10.9%
ROA	1.4%●	1.1%	1.1%	1.1%	-2.1%	1.0%	1.2%
EBITDA Margin	—	—	—	—	—	—	20.4%

Growth + Dividend
Metric	MBWM	CCNE	BFST	CPF	HBNC	TRST	Ind. Median
Rev. Growth	—	—	—	—	—	—	—
NI Growth	18.5%	52.8%●	26.1%	38.2%	—	23.9%	19.4%
Div. Yield	2.6%	2.1%	1.9%	2.9%	3.1%●	2.7%	2.5%
Payout	26.9%	29.8%	25.3%	36.8%	-20.6%	43.6%	31.4%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.