Robust local deposit and commercial loan growth and sustained strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $19.6 million, or $1.22 per diluted share, for the third quarter of 2024, compared with net income of $20.9 million, or $1.30 per diluted share, for the third quarter of 2023. Net income during the first nine months of 2024 totaled $60.0 million, or $3.72 per dilute ...

Wall Street analysts expect Mercantile Bank (MBWM) to post quarterly earnings of $1.18 per share in its upcoming report, which indicates a year-over-year decline of 9.2%. Revenues are expected to be $56.83 million, down 2.4% from the year-ago quarter. The current level reflects an upward revision of 0.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period. Before a ...

GRAND RAPIDS, Mich., Sept. 30, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, October 15, 2024, to discuss third quarter 2024 financial results. The Company's third quarter 2024 earnings release will be released before markets open on Tuesday, October 15, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on October 15, 2024, at 1 ...

Table of Contents U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File No. 000-26719 MERCANTILE BANK CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-3360865 (State or other jurisdiction ...

Balance ($ in thousand Percentage $ 29% 1,275,700 S 1,059,100 S $ 389,400 9% S 76,300 3,533,300 80% $ mohd izzuan/iStock via Getty Images In my previous Mercantile Bank (NASDAQ:MBWM) article, I highlighted my concerns about growth stalling, but the Q2 2024 results revealed an entirely different situation. Mortgage loan originations got a strong boost and the Loan to Deposit ratio is improving, albeit still too high. The market reacted very positively after the release of the quarterly report, +12%, as few e ...

Our bank's total risk-based capital ratio was 13.9% at the end of the second quarter, slightly over $200 million above the minimum threshold to be categorized as well-capitalized. We did not repurchase shares during the second quarter of 2024. We have $6.8 million available in our current repurchase plan. While net unrealized gains and losses in our investment portfolio are excluded from regulatory capital calculations, we do regularly compute our regulatory capital ratios, assuming the calculations did inc ...

Mercantile Bank Corporation Announces Solid Second Quarter Results Strong local deposit and commercial loan growth and ongoing strength in asset quality metrics highlight quarter "Our solid second quarter financial performance provides further evidence of our ability to successfully navigate the challenges arising from shifting economic and operating environments," said Ray Reitsma, President and Chief Executive Officer of Mercantile. "We are very pleased with the levels of local deposit and commercial loan ...

Over the last four quarters, the company has surpassed consensus EPS estimates three times. Mercantile Bank shares have added about 9.3% since the beginning of the year versus the S&P 500's gain of 18.1%. Mercantile Bank, which belongs to the Zacks Banks - Midwest industry, posted revenues of $56.75 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.93%. This compares to year-ago revenues of $55.2 million. The company has topped consensus revenue estimates four times over ...

Strong local deposit and commercial loan growth and ongoing strength in asset quality metrics highlight quarter Second quarter highlights include: Net revenue, consisting of net interest income and noninterest income, was $56.8 million during the second quarter of 2024, up $1.6 million, or 2.8 percent, from $55.2 million during the prior-year second quarter. Net interest income during the current-year second quarter was $47.1 million, down $0.5 million, or 1.0 percent, from $47.6 million during the respecti ...

"The Board of Directors' declaration of an increased third quarter cash dividend is a testament to our ongoing commitment to enhance shareholder value through worthwhile cash returns," said Ray Reitsma, President and Chief Executive Officer of Mercantile. "Our financial metrics have remained strong during the lengthy period of uncertain economic and operating conditions, which coupled with the realization of solid financial results in future periods as anticipated, should allow us to continue to reward shar ...