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Mercantile Bank: Q4 Earnings Snapshot
By AP News - Jan 21, 2025, 05:45 AM ET
Last Updated - Jan 21, 2025, 05:45 AM EST
GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported fourth-quarter net income of $19.6 million.
The bank, based in Grand Rapids, Michigan, said it had earnings of $1.22 per share.
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The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The holding company for Mercantile Bank of Michigan posted revenue of $92.7 million in the period. Its revenue net of interest expense was $58.5 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $57.5 million.
For the year, the company reported profit of $79.6 million, or $4.93 per share. Revenue was reported as $231.5 million.
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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
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