Mercantile Bank: 4Q Earnings Snapshot
The Associated Press | Hagadone News Network | UPDATED 5 years, 3 months AGO
GRAND RAPIDS, Mich. (AP) _ Mercantile Bank Corp. (MBWM) on Tuesday reported fourth-quarter profit of $13.3 million.
The bank, based in Grand Rapids, Michigan, said it had earnings of 81 cents per share. Earnings, adjusted for non-recurring gains, were 66 cents per share.
The holding company for Mercantile Bank of Michigan posted revenue of $46.9 million in the period. Its revenue net of interest expense was $38.5 million, surpassing Street forecasts.
For the year, the company reported profit of $49.5 million, or $3.01 per share. Revenue was reported as $151.5 million.
Mercantile Bank shares have decreased almost 3% since the beginning of the year. The stock has increased 10% in the last 12 months.
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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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