Mercantile Bank (MBWM) Tops Q1 EPS by 3c

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Go back to Mercantile Bank (MBWM) Tops Q1 EPS by 3c

Mercantile Bank Corporation Reports Strong First Quarter 2017 Results

April 18, 2017 6:01 AM EDT

GRAND RAPIDS, Mich., April 18, 2017 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $7.6 million, or $0.46 per diluted share, for the first quarter of 2017, compared with net income of $8.5 million, or $0.52 per diluted share, for the respective prior-year period.  A bank owned life insurance claim during the first quarter of 2017 increased reported net income by approximately $1.1 million, or $0.06 per diluted share, while 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... More