Mercantile Bank: Q1 Earnings Snapshot

GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported first-quarter net income of $21 million.

The Grand Rapids, Michigan-based bank said it had earnings of $1.31 per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.

The holding company for Mercantile Bank of Michigan posted revenue of $67.4 million in the period. Its revenue net of interest expense was $55.3 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $53.4 million.

_____

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