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Mercantile Bank Corp. Message Board

  • sambordulac sambordulac Apr 19, 2011 9:08 AM Flag

    1Q11 encouraging

    The bank turned a first profit in two years, much due to reduced provision. Still, looking beneath the surface, it's core earning is almost 1% ROA, or around 10% ROA with "normal" provision. CEO, Michael Price--not the famed money manager-- did a good job IMO.
    It's still sort of cheap, but recent run up means a possibility of pull back. Second Wave's Tom Brown seems to think so.
    On this first quarterly profit, it may not retreat further.
    Long term, demographic shift may dampen its growth.

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