{
    "source": "Total Growth Investing",
    "url": "https://totalgrowthinvesting.com/stock.php?symbol=MBWM",
    "version": "2.5.0",
    "symbol": "MBWM",
    "name": "Mercantile Bank Corp",
    "legal_type": "Stock",
    "sector": "Financials",
    "industry": "Regional Banks",
    "notes": null,
    "date_updated": "5/30/2026",
    "scores": {
        "tgi": 578,
        "hii": 62,
        "pgi": 363,
        "dgi": 521,
        "balanced_income": 320,
        "balanced_growth": 470.5,
        "average_all": 381
    },
    "price": {
        "current": "59.61",
        "price_growth_1y": "0.1833",
        "price_growth_3y": "0.9795",
        "price_growth_5y": "0.6406",
        "price_growth_10y": "1.1532",
        "total_return_10y": "2.1376",
        "avg_price_growth": "1.0188"
    },
    "dividend": {
        "per_share": "0.39",
        "frequency": 4,
        "yield_4yr_avg": "0.0351",
        "yield_calc": "0.0262",
        "div_growth_1y": "0.0556",
        "div_growth_3y": "0.0590",
        "div_growth_5y": "0.0611",
        "div_growth_10y": "0.0974",
        "avg_div_growth": "0.0683",
        "payout_ratio": "0.5728"
    },
    "methodology": {
        "score_range": "1 to approximately 900",
        "lower_is_better": true,
        "watchlist_size": "900+",
        "scores_explained": {
            "tgi": "Dividend growth + price growth + low payout ratio. Primary TGI rank.",
            "hii": "Dividend growth + price growth + proximity to 4% yield target. Income focus.",
            "pgi": "Price growth only, averaged across 1/3/5/10 year timeframes.",
            "dgi": "Dividend growth across timeframes, weighted with payout ratio.",
            "balanced_income": "(TGI + HII) / 2. Balances growth and income objectives.",
            "balanced_growth": "(TGI + PGI) / 2. Balances dividend discipline and price appreciation.",
            "average_all": "(TGI + HII + PGI + DGI) / 4. Composite across all four scores."
        }
    },
    "percent_note": "All growth and yield values are decimals. Multiply by 100 for percentage. Example: 0.3510 = 35.10%. A null value means the field was absent from the source data \u2014 it is NOT a zero.",
    "disclaimer": "Not financial advice. Do your own research."
}