Mercantile Bank (MBWM) Reports In-Line Q3 EPS, Revenues Miss

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Go back to Mercantile Bank (MBWM) Reports In-Line Q3 EPS, Revenues Miss

Mercantile Bank Corporation Reports Strong Third Quarter 2018 Results

October 16, 2018 6:01 AM EDT

GRAND RAPIDS, Mich., Oct. 16, 2018 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $10.1 million, or $0.61 per diluted share, for the third quarter of 2018, compared with net income of $8.3 million, or $0.51 per diluted share, for the respective prior-year period.  Net income during the first nine months of 2018 totaled $30.5 million, or $1.83 per diluted share, compared to $23.3 million, or $1.41 per diluted share, during the first nine months of 2017.

Interest income related to purchased loan accounting entries increased net income during the third quarter of 2018 by $0.3 million, or... More