U.S. Markets closed

Mercantile Bank: 2Q Earnings Snapshot

GRAND RAPIDS, Mich. (AP) _ Mercantile Bank Corp. (MBWM) on Tuesday reported second-quarter net income of $9.4 million.

The bank, based in Grand Rapids, Michigan, said it had earnings of 57 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 57 cents per share.

The holding company for Mercantile Bank of Michigan posted revenue of $38.9 million in the period. Its revenue net of interest expense was $33.8 million, missing Street forecasts. Three analysts surveyed by Zacks expected $33.9 million.

Mercantile Bank shares have increased slightly more than 5 percent since the beginning of the year. The stock has increased 18 percent in the last 12 months.


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