Mercantile Bank Posts Higher 4Q Earnings, Boosted by Interest Rates [MarketWatch]
Mercantile Bank Corporation (MBWM)
Last mercantile bank corporation earnings: 4/21 06:01 am
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Source: MarketWatch
The Mercantile Bank of Michigan parent posted net income of $21.8 million, compared with $11.6 million in the same period a year earlier. Per-share earnings were $1.37, compared with 74 cents a year earlier. Analysts surveyed by FactSet were expecting earnings of $1.20 a share. Total revenue rose 29.4% to $58.5 million, driven by a pickup in net interest income. Analysts were expecting revenue of $53.8 million, according to FactSet. Noninterest income fell to $7.8 million from $12.6 million, mostly due to a drop in mortgages. The bank provisioned $3.1 million for credit losses, swinging from a benefit of $3.4 million in the prior quarter. "We remain focused on overhead cost control and are constantly reviewing our expense structure to identify opportunities to operate more efficiently," said Chief Executive Robert Kaminski Jr. The company also on Tuesday said it is increasing its quarterly dividend by a penny to 33 cents a share, payable on March 15 to shareholders of record
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News
- Mercantile Bank Corporation Announces First Quarter 2024 Results Conference Call and Webcast [Yahoo! Finance]Yahoo! Finance
- Mercantile Bank Corporation Announces First Quarter 2024 Results Conference Call and WebcastPR Newswire
- Mercantile Bank (MBWM) Soars 5.7%: Is Further Upside Left in the Stock? [Yahoo! Finance]Yahoo! Finance
- Mercantile Bank Co. (NASDAQ: MBWM) was downgraded by analysts at Hovde Group from an "outperform" rating to a "market perform" rating.MarketBeat
- With 60% ownership, Mercantile Bank Corporation (NASDAQ:MBWM) boasts of strong institutional backing [Yahoo! Finance]Yahoo! Finance
MBWM
Earnings
- 1/16/24 - Beat
MBWM
Sec Filings
- 3/13/24 - Form 4
- 3/12/24 - Form 4
- 3/12/24 - Form 3
- MBWM's page on the SEC website