Mercantile Bank (MBWM) Misses Q2 EPS by 1c, Slight Miss on Revenues

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Go back to Mercantile Bank (MBWM) Misses Q2 EPS by 1c, Slight Miss on Revenues

Mercantile Bank Corporation Reports Strong Second Quarter 2018 Results

July 17, 2018 6:01 AM EDT

GRAND RAPIDS, Mich., July 17, 2018 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $9.4 million, or $0.57 per diluted share, for the second quarter of 2018, compared with net income of $7.3 million, or $0.45 per diluted share, for the respective prior-year period.  Net income during the first six months of 2018 totaled $20.3 million, or $1.22 per diluted share, compared to $15.0 million, or $0.91 per diluted share, during the first six months of 2017.

The successful collection of certain nonperforming commercial loans increased reported net income during the first six months of 2018 by approximately $1.7... More