Exhibit 99.1 Mercantile Bank Corporation Announces Strong Third Quarter Results Robust local deposit and commercial loan growth and sustained strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., October 15, 2024 – 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 ...

Mercantile Bank (MBWM) came out with quarterly earnings of $1.22 per share, beating the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 3.39%. A quarter ago, it was expected that this holding company for Mercantile Bank of Michigan would post earnings of $1.17 per share when it actually produced earnings of $1.17, delivering no surprise. Over the ...

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 ...

Mercantile Bank Corporation (NASDAQ:MBWM) Q2 2024 Earnings Conference Call July 16, 2024 10:00 AM ET Company Participants Nichole Kladder - First VP & Chief Marketing Officer Raymond Reitsma - President, CEO & Director Charles Christmas - CFO, EVP, Treasurer of Mercantile, EVP & CFO Conference Call Participants Brendan Nosal - Hovde Group Daniel Tomayo - Raymond James Financial Nathan Race - Piper Sandler Companies Damon DelMonte - KBW Operator Good morning and welcome to the Mercantile Bank Corporation 202 ...

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 ...