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Stock impact report

Mercantile Bank Corporation Announces Robust First Quarter Results [Yahoo! Finance]

Mercantile Bank Corporation (MBWM) 
Last mercantile bank corporation earnings: 4/21 06:01 am Check Earnings Report
US:NASDAQ Investor Relations: mercbank.com/about
Company Research Source: Yahoo! Finance
GRAND RAPIDS, Mich. April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $21.6 million , or per diluted share, for the first quarter of 2024, compared with net income of $21.0 million , or per diluted share, for the first quarter of 2023. "We are delighted to report another quarter of excellent financial results," said Robert B. Kaminski, Jr. , President and Chief Executive Officer of Mercantile. "Our strong operating performance during the first three months of 2024 reflected a healthy net interest margin and notable increases in treasury management fees, mortgage banking income, and interest rate swap income. The growth in local deposits during the quarter, which occurred despite a typical level of seasonal deposit withdrawals, reflects our continuing focus on expanding existing deposit relationships and attracting new deposit customers. As exhibited by ongoing loan portfolio expansion and strength in asset quality measur Show less Read more
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