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 ...

Wall Street analysts forecast that Mercantile Bank (MBWM) will report quarterly earnings of $1.17 per share in its upcoming release, pointing to a year-over-year decline of 7.9%. It is anticipated that revenues will amount to $56.23 million, exhibiting an increase of 1.9% compared to the year-ago quarter. The current level reflects an upward revision of 1.3% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraise ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Mercantile Bank (MBWM) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 16. O ...

GRAND RAPIDS, Mich., June 27, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, July 16, 2024, to discuss second quarter 2024 financial results. SOURCE Mercantile Bank Corporation Participants may access the live conference call on July 16, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844- 868-8844 and requesting the "Mercantile Bank Corporation Call." Please dial in approximately 10 minutes prior to the call. The conference cal ...

GRAND RAPIDS, Mich., June 3, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) implemented the following resignations and appointments, in furtherance of its previously announced management succession plan, effective as of June 1, 2024: Robert B. Kaminski, Jr. has retired as President and Chief Executive Officer ("CEO") of Mercantile and as CEO of Mercantile's wholly owned subsidiary, Mercantile Bank (the "Bank"). Mr. Kaminski remains a Director of both Mercantile and the Bank. Raymond E. Reit ...

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 March 31, 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 jurisdictio ...

Mercantile Bank Corporation (NASDAQ:MBWM) Q1 2024 Earnings Conference Call April 16, 2024 10:00 AM ET Company Participants Nichole Kladder - First Vice President, Chief Marketing Officer Bob Kaminski - President & Chief Executive Officer Ray Reitsma - Chief Operating Officer & President of the Bank Chuck Christmas - Executive Vice President & Chief Financial Officer Conference Call Participants Brendan Nosal - Hovde Group Daniel Tamayo - Raymond James Damon DelMonte - KBW Operator Good morning, and welcome ...

Mercantile Bank (MBWM) reported $58.23 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 5.2%. EPS of $1.34 for the same period compares to $1.31 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $55.2 million, representing a surprise of +5.49%. The company delivered an EPS surprise of +17.54%, with the consensus EPS estimate being $1.14.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

* As of March 31, 2024 **As of December 31, 2023. 29 STRONG CREDIT CULTURE Rate Type Breakdown 30 Commercial & Retail Past Due Loans* ($ in millions) STRONG CREDIT CULTURE *As of March 31, 2024. FDIC Commercial Real Estate Lending Concentration Guideline 33 Noninterest-Bearing Checking 27% Interest-Bearing Checking Money Market 15% 27% Savings 6% Time Under $100,000 4% Time $100,000 & Over 12% Brokered Deposits 4% Sweep Accounts 5% Noninterest-Bearing Checking 30% Interest-Bearing Checking 16% Money Market ...