Mercantile Bank (US:MBWM)2025-04-22 18:41Financial Performance - Net income was $195 million in 1Q25, compared to $216 million in 1Q24[13] - Earnings per share (EPS) were $121 in 1Q25, versus $134 in 1Q24[13] - Net interest margin was 347% in 1Q25, compared to 374% in 1Q24 and 341% in 4Q24[13] - Total deposits grew by 17% year-over-year[13] Loan Portfolio & Asset Quality - Commercial loans grew nearly 5% annualized in 1Q25[13] - The ratio of nonperforming assets to total assets was 009% at the end of 1Q25[13] - Net loan charge-offs to average loans were (001)% in 1Q25[13] - Total loans were $46365 million as of March 31, 2025[80] Capital & Shareholder Value - Total risk-based capital ratio was 144% at the end of 1Q25, compared to 141% at the end of 1Q24[13] - Tangible book value per share (TBVPS) was $3442 at the end of 1Q25, versus $3022 at the end of 1Q24[13]