Mercantile Bank (MBWM) Tops Q4 EPS by 9c

Mercantile Bank (NASDAQ: MBWM) reported Q4 EPS of $0.70, $0.09 better than the analyst estimate of $0.61. Revenue for the quarter came in at $36.2 million versus the consensus estimate of $34.78 million.

"We are very pleased that the solid operating performance we demonstrated during the first nine months of 2018 continued during the fourth quarter," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "Our financial performance exhibited throughout the year reflects a solid net interest margin, strong asset quality, increases in certain fee income categories, and controlled overhead costs. In spite of continuing competitive pressures in our markets, we were able to record robust growth in the loan portfolio. Based on our current commercial and residential loan pipelines, we are confident that solid loan growth can be realized in future periods. In addition to being pleased with our ongoing financial strength, we are proud to report that Mercantile Bank of Michigan once again received an "Outstanding" Community Reinvestment Act rating, which depicts our continuing focus on meeting the needs of the communities we serve."

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

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