Mercantile Bank: 4Q Earnings Snapshot

by The Associated Press
| January 21, 2020 2:56 AM

GRAND RAPIDS, Mich. (AP) _ Mercantile Bank Corp. (MBWM) on Tuesday reported fourth-quarter profit of $13.3 million.

The bank, based in Grand Rapids, Michigan, said it had earnings of 81 cents per share. Earnings, adjusted for non-recurring gains, were 66 cents per share.

The holding company for Mercantile Bank of Michigan posted revenue of $46.9 million in the period. Its revenue net of interest expense was $38.5 million, surpassing Street forecasts.

For the year, the company reported profit of $49.5 million, or $3.01 per share. Revenue was reported as $151.5 million.

Mercantile Bank shares have decreased almost 3% since the beginning of the year. The stock has increased 10% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBWM at https://www.zacks.com/ap/MBWM