Mercantile Bank (MBWM) Tops Q1 EPS by 12c

Mercantile Bank Corporation Reports Strong First Quarter 2016 Results

GRAND RAPIDS, Mich., April 19, 2016 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $8.5 million, or $0.52 per diluted share, for the first quarter of 2016, compared with net income of $6.6 million, or $0.39 per diluted share, for the respective prior-year period. The repurchase of $11.0 million in trust preferred securities at a 27 percent discount during the first quarter of 2016 increased reported net income by approximately $1.8 million, or $0.11 per diluted share.  Reflecting continuing loan growth, provision expense totaled $0.6 million during the first quarter of 2016, compared to a negative provision expense of $0.4 million... More

Mercantile Bank Corporation Announces Second Quarter Cash Dividend And Expansion of Stock Repurchase Program

GRAND RAPIDS, Mich., April 19, 2016 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on April 14, 2016, its Board of Directors declared a regular quarterly cash dividend of $0.16 per common share, payable June 23, 2016 to holders of record as of June 10, 2016.

"We are pleased that our sound financial condition has allowed us to continue our cash dividend program," said Michael Price, Chairman, President and Chief Executive Officer of Mercantile.  "The sustained cash dividend program demonstrates the confidence of our Board of Directors and management team in Mercantile's future and exemplifies our ongoing commitment to provide a meaningful... More