Core Viewpoint - Analysts forecast that Mercantile Bank (MBWM) will report quarterly earnings of $1.17 per share, indicating a year-over-year decline of 7.9%, while revenues are expected to reach $56.23 million, reflecting a 1.9% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate for the quarter has been revised upward by 1.3% over the past 30 days, indicating a collective reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [3]. Key Metrics Forecast - Analysts project the 'Efficiency Ratio' to be 54.3%, up from 50.4% in the same quarter last year [4]. - The estimated 'Net Interest Margin' is 3.7%, down from 4.1% reported in the same quarter last year [5]. - The consensus for 'Average Balance - Total interest-earning assets' is expected to be $5.17 billion, compared to $4.72 billion a year ago [5]. - 'Total Noninterest Income' is anticipated to be $9.07 million, an increase from $7.65 million in the same quarter last year [6]. - 'Net Interest Income' is projected to be $46.90 million, slightly down from $47.55 million reported in the same quarter last year [6]. Stock Performance - Over the past month, shares of Mercantile Bank have returned +7.2%, outperforming the Zacks S&P 500 composite's +5.1% change [6]. - Currently, MBWM holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [6].

Core Viewpoint - Wall Street anticipates a year-over-year decline in earnings for Mercantile Bank despite higher revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Revenue and Earnings Estimates - Revenues for the upcoming quarter are expected to be $56.23 million, reflecting a 1.9% increase from the same quarter last year [3]. - The consensus EPS estimate has been revised 1.3% higher in the last 30 days, indicating a reassessment by analysts [3]. - The expected EPS for the quarter is $1.17, representing a year-over-year decline of 7.9% [5]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates a negative Earnings ESP of -0.28%, suggesting analysts have become bearish on the company's earnings prospects [12]. - The stock currently holds a Zacks Rank of 3, making it challenging to predict a beat on the consensus EPS estimate [13][14]. Historical Performance - In the last reported quarter, Mercantile Bank exceeded the expected EPS of $1.14 by delivering $1.34, resulting in a surprise of +17.54% [15]. - The company has beaten consensus EPS estimates in all of the last four quarters [16]. Conclusion - While the company may not be a strong candidate for an earnings beat, investors should consider other factors before making investment decisions ahead of the earnings release [19].

Core Viewpoint - Mercantile Bank Corporation will host a conference call on July 16, 2024, to discuss its second quarter 2024 financial results [1][2][4]. Group 1: Conference Call Details - The conference call is scheduled for 10 a.m. ET on July 16, 2024, and participants can join by dialing 1-844-868-8844 [2]. - The call will also be available via a live webcast on the company's investor relations website [2]. - An audio archive of the call will be accessible on the Mercantile Investor Relations website after the event [2]. Group 2: Financial Results Release - The second quarter 2024 earnings release will be published before the market opens on July 16, 2024 [4]. - The earnings release will be available in the "Investor Relations" section of the company's website [4]. Group 3: Company Overview - Mercantile Bank Corporation is based in Grand Rapids, Michigan, and serves as the bank holding company for Mercantile Bank [5]. - The bank offers a range of financial products and services aimed at businesses, individuals, and governmental units, emphasizing exceptional service and community commitment [5]. - Mercantile Bank is one of the largest banks in Michigan, with assets totaling approximately $5.5 billion [5].

Core Points - Mercantile Bank Corporation has implemented a management succession plan, effective June 1, 2024, resulting in key leadership changes [1][2][3] Group 1: Leadership Changes - Robert B. Kaminski, Jr. has retired as President and CEO of Mercantile Bank Corporation and its subsidiary, Mercantile Bank, but remains a Director [1] - Raymond E. Reitsma has been appointed as the new President and CEO of Mercantile Bank Corporation and CEO of the Bank, having a 20-year tenure with the Bank and previously serving in various leadership roles [2] - Scott P. Setlock has been appointed as EVP, COO, and Secretary of Mercantile Bank Corporation, continuing his role as EVP and COO of the Bank [3] Group 2: Company Overview - Mercantile Bank Corporation, based in Grand Rapids, Michigan, is a bank holding company with approximately $5.5 billion in assets, providing financial products and services to businesses, individuals, and governmental units [4]

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 (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 ...

MERCANTILE BANK CORPORATION Exhibit 99.1 Mercantile Bank Corporation Announces Robust First Quarter Results Strong local deposit growth, sustained strength in asset quality metrics and noteworthy increases in several noninterest revenue streams highlight quarter "We are delighted to report another quarter of excellent financial results," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "Our strong operating performance during the first three months of 2024 reflected a healt ...

Mercantile Bank (MBWM) came out with quarterly earnings of $1.34 per share, beating the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.54%. A quarter ago, it was expected that this holding company for Mercantile Bank of Michigan would post earnings of $1.22 per share when it actually produced earnings of $1.25, delivering a surprise of 2.46%.Ov ...

Strong local deposit growth, sustained strength in asset quality metrics and noteworthy increases in several noninterest revenue streams highlight quarter GRAND RAPIDS, Mich., April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $21.6 million, or $1.34 per diluted share, for the first quarter of 2024, compared with net income of $21.0 million, or $1.31 per diluted share, for the first quarter of 2023. "We are delighted to report another quarter of e ...

Board declares $0.35 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.9 percent  GRAND RAPIDS, Mich., April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on April 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share, payable on June 19, 2024, to holders of record as of June 7, 2024.  The $0.35 cash dividend is approximately 6 percent higher than t ...