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GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported second-quarter net income of $20.4 million.
The Grand Rapids, Michigan-based bank said it had earnings of $1.27 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.11 per share.
The holding company for Mercantile Bank of Michigan posted revenue of $73.6 million in the period. Its revenue net of interest expense was $55.2 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $52.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a MBWM">Zacks stock report on MBWM at https://www.zacks.com/ap/MBWM