MERCANTILE BANK CORP (MBWM)
Mercantile Bank Corp. operates as a bank holding company for Mercantile Bank of Michigan. It offers checking and savings accounts, credit and debit cards, mobile and Internet banking, business loans, mobile wallet, health savings account, and treasury management services. The company was founded on July 15, 1997 and is headquartered in Grand Rapids, MI.
Address
310 LEONARD STREET NW
GRAND RAPIDS, MI 49504
Founded
1997
Number of Employees
631
Website
http://www.mercbank.com
Buyback
| Buyback Data | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Average |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| $ Amount Purchased ($ in 000s) |
- | $15,762 | $3,732 | - | $5,942 | $7,182 | $6,590 | $21,380 | - | - | - | $10,098 |
| Average Price | - | $19.99 | $22.23 | - | $29.73 | $30.79 | $27.88 | $31.29 | - | - | - | $26.24 |
| # Shares Purchased | - | 788,541 | 167,878 | - | 199,905 | 233,300 | 236,393 | 683,191 | - | - | - | 384,868 |
| Buyback Performance | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Average |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Return to Date | - | 125.1% | 102.4% | - | 51.4% | 46.2% | 61.4% | 43.8% | - | - | - | 71.5% |
| S&P 500 Return to Date | - | 174.1% | 169.7% | - | 105.7% | 93.9% | 75.5% | 32.2% | - | - | - | 108.5% |
| Excess Total Return | - | -48.9% | -67.3% | - | -54.3% | -47.7% | -14.1% | 11.6% | - | - | - | -37.0% |
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| Percentile Rank | - | 64% | 59% | - | 58% | 57% | 59% | 74% | - | - | - | 77% |
Buyback returns calculated using weighted average buyback price over the last 10 years and comparing to current day stock price value. S&P 500 used as benchmark for excess return.
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