Mercantile Bank: Q3 Earnings Snapshot

GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported third-quarter profit of $20.9 million.

The bank, based in Grand Rapids, Michigan, said it had earnings of $1.30 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The holding company for Mercantile Bank of Michigan posted revenue of $80.4 million in the period. Its revenue net of interest expense was $58.2 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $53.7 million.