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Compared to Estimates, Mercantile Bank (MBWM) Q4 Earnings: A Look at Key Metrics
MBWMMercantile Bank (MBWM) ZACKS·2025-01-21 15:31

Core Insights - Mercantile Bank reported revenue of 58.53millionforthequarterendedDecember2024,reflectingayear−over−yearincreaseof2.858.53 million for the quarter ended December 2024, reflecting a year-over-year increase of 2.8% and a surprise of +1.86% over the Zacks Consensus Estimate of 57.47 million [1] - The earnings per share (EPS) for the quarter was 1.22,slightlydownfrom1.22, slightly down from 1.25 in the same quarter last year, with an EPS surprise of +6.09% compared to the consensus estimate of 1.15[1]FinancialPerformanceMetrics−EfficiencyRatiostoodat57.81.15 [1] Financial Performance Metrics - Efficiency Ratio stood at 57.8%, higher than the three-analyst average estimate of 56.1% [4] - Net Interest Margin was reported at 3.4%, matching the three-analyst average estimate [4] - Net loan charge-offs to average loans were 0.3%, exceeding the average estimate of 0.1% from two analysts [4] - Total earning assets averaged 5.64 billion, slightly above the 5.63billionaverageestimatefromtwoanalysts[4]−TotalNoninterestIncomewas5.63 billion average estimate from two analysts [4] - Total Noninterest Income was 10.17 million, surpassing the three-analyst average estimate of 9.59million[4]−NetInterestIncomereached9.59 million [4] - Net Interest Income reached 48.36 million, compared to the average estimate of 47.87millionfromthreeanalysts[4]−Payrollservicesincomewas47.87 million from three analysts [4] - Payroll services income was 0.76 million, above the average estimate of 0.73millionfromtwoanalysts[4]−Interestrateswapincomewas0.73 million from two analysts [4] - Interest rate swap income was 0.72 million, significantly higher than the two-analyst average estimate of 0.40million[4]−Creditanddebitcardincomewas0.40 million [4] - Credit and debit card income was 2.18 million, slightly below the two-analyst average estimate of 2.29million[4]−Earningsonbank−ownedlifeinsurancepolicieswere2.29 million [4] - Earnings on bank-owned life insurance policies were 0.50 million, exceeding the two-analyst average estimate of 0.43million[4]−Mortgagebankingincomewasreportedat0.43 million [4] - Mortgage banking income was reported at 3.61 million, above the average estimate of 3.15millionfromtwoanalysts[4]−Otherincomewas3.15 million from two analysts [4] - Other income was 0.54 million, below the two-analyst average estimate of $0.80 million [4] Stock Performance - Shares of Mercantile Bank have returned -1.9% over the past month, contrasting with the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]