Mercantile Bank (MBWM) Misses Q4 EPS by 2c

Mercantile Bank (NASDAQ: MBWM) reported Q4 EPS of $0.48, $0.02 worse than the analyst estimate of $0.50.

The fourth quarter and full year were highlighted by:

• Strong core earnings and capital position
• Stable and robust net interest margin
• Solid growth in various fee income categories
• Controlled overhead costs
• Strong asset quality, as depicted by low levels of nonperforming assets and loans in the 30- to 89-days delinquent category
• Total loan growth of $180 million, or nearly 8 percent, during the full year
• New commercial term loan originations of approximately $119 million during the fourth quarter and $529 million during the full year
• Sustained strength in commercial loan pipeline
• Announced first quarter 2018 regular cash dividend of $0.22 per common share, an increase of approximately 16 percent from the $0.19 regular cash dividend paid during the fourth quarter of 2017

For earnings history and earnings-related data on Mercantile Bank (MBWM) click here.

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