GRAND RAPIDS, Mich. (AP) _ Mercantile Bank Corp. (MBWM) on Tuesday reported fourth-quarter profit of $11.6 million.
The bank, based in Grand Rapids, Michigan, said it had earnings of 70 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The holding company for Mercantile Bank of Michigan posted revenue of $42.6 million in the period. Its revenue net of interest expense was $36.2 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $34.6 million.
For the year, the company reported profit of $42 million, or $2.53 per share. Revenue was reported as $139.1 million.
Mercantile Bank shares have risen 14 percent since the beginning of the year. The stock has fallen 12 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