What does income taxes at U.S. statutory rate of 21% mean?

The theoretical income tax expense calculated by applying the statutory federal corporate tax rate to the company's pre-tax income. This serves as the baseline for reconciling the actual effective tax rate and identifying the impact of tax credits, deductions, and exemptions.

Mercantile Bank Corporation MBWM Income taxes at U.S. statutory rate of 21%

Income taxes at U.S. statutory rate of 21% at other companies

Heritage FinancialHFWA

21%0.0pp

First Merchants CorporationFRME

——

Other financials

Income statement

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Revenue$67.6M+18.1%

Net income$22.7M+16.1%

EPS (diluted)$1.32+9.1%

Cash flow

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Operating cash flow$28.3M+1,051%

CapEx$938.0K-39.0%

Free cash flow$27.4M+706%

Valuation

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Market cap$963.74M+35.3%

P/E10.5×+1.3×

P/S3.8×+0.7×

Profitability

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Net margin36.3%+2.7pp

FCF margin17%—

Returns & leverage

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Return on equity8.6%—

Debt / equity0×—

Where this comes from

Reported directly by Mercantile Bank Corporation in its filing.

Tagged under the XBRL concept us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate.

The official record: Mercantile Bank Corporation’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mercantile Bank Corporation's income taxes at U.S. statutory rate of 21%?: Mercantile Bank Corporation (MBWM) reported income taxes at U.S. statutory rate of 21% of 21% in Q4 2025.
What does income taxes at U.S. statutory rate of 21% mean?: The theoretical income tax expense calculated by applying the statutory federal corporate tax rate to the company's pre-tax income. This serves as the baseline for reconciling the actual effective tax rate and identifying the impact of tax credits, deductions, and exemptions.