Mercantile Bank: 1Q Earnings Snapshot

GRAND RAPIDS, Mich. (AP) _ Mercantile Bank Corp. (MBWM) on Tuesday reported first-quarter earnings of $11.8 million.

The Grand Rapids, Michigan-based bank said it had earnings of 72 cents per share. Earnings, adjusted for non-recurring gains, were 61 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The holding company for Mercantile Bank of Michigan posted revenue of $45.3 million in the period. Its revenue net of interest expense was $37.3 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $34.7 million.

Mercantile Bank shares have risen 19 percent since the beginning of the year. The stock has dropped 1 percent 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