Company / Income Tax
MERCANTILE BANK CORP Income Tax History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Income Tax
$14.7M
FY2025
5-year range
$14.7M / $20.5M
FY2021-FY2025
Trend
-21.1%
vs FY2024
Sector context
#307 of 388
Financials
What the data says
MERCANTILE BANK CORP's income tax of $15M is lower than 79% of companies in the Financials sector (FY2025). Income Tax has fluctuated over the past 10 years, ranging from $10M in FY2018 to $20M in FY2023.
Based on SEC 10-K filings.
$15M in FY2025 with a 5-year CAGR of +6.6%.
Improved from $20M to $15M over the past 2 years.
Financials sector context is included.
Income Tax over time
Growth rates
- 3-Year CAGR
- +0.0%
- 5-Year CAGR
- +6.6%
- 10-Year CAGR
- -
Sector benchmark
Top 21% in FinancialsTop 21% of 388This company $14.7M Sector average $325.2M
▼
-95.5% below sector average
Key checks
Key Insights
- 5-year CAGR of +6.6%, indicating consistent growth.
- In FY2025, income tax decreased 21.1% year-over-year.
- Ranks #307 out of 388 companies in the Financials sector.
- Peak income tax was recorded in FY2023.
Company context
Key Data Points
- Low Piotroski F-Score: 2/9 (multiple financial health concerns)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Income TaxValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $14.7M | -21.1% |
| FY2024 | $18.7M | -8.7% |
| FY2023 | $20.5M | +39.1% |
| FY2022 | $14.7M | +0.2% |
| FY2021 | $14.7M | +37.2% |
| FY2020 | $10.7M | -2.7% |
| FY2019 | $11.0M | +12.3% |
| FY2018 | $9.8M | -33.8% |
| FY2017 | $14.8M | -1.1% |
| FY2016 | $15.0M | +26.8% |
As of FY2025 · SEC 10-K Annual Filings · Updated Feb 28, 2026