Mercantile Bank vs First Financial
Mercantile Bank and First Financial are similar in size: $243m and $262m of revenue in their latest fiscal years. First Financial grew faster (20.2% against 4.8%). Mercantile Bank kept more of each dollar of sales as profit: a net margin of 36.6% against 30.3%.
| Latest fiscal year | Mercantile BankMBWM, 2025 | First FinancialTHFF, 2025 |
|---|---|---|
| Revenue | $243m | $262m |
| Revenue growth | 4.8% | 20.2% |
| Net income | $88.8m | $79.2m |
| Operating margin | — | — |
| Net margin | 36.6% | 30.3% |
| Return on equity | 13.6% | 13.2% |
| Free cash flow | — | $86.4m |
| Cash | — | $130m |
| Total debt | $0 | $188m |
| Debt to equity | — | — |
| Dividend per share | $1.50 | $2.09 |
| Dividend yield | 2.5% | 2.7% |
| Share buybacks | — | $795,000 |
| Employees | — | 946 |
| Market value | $1.05bn | $917m |
| Price vs our value range | — | — |
| Moat score | 80 (Strong) | 86 (Strong) |
| Insider trades, 12 months | 0 buys, 2 sales | 3 buys, 1 sales |