Mercantile Bank (MBWM) Tops Q1 EPS by 18c

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Go back to Mercantile Bank (MBWM) Tops Q1 EPS by 18c

Mercantile Bank Corporation Reports Strong First Quarter 2020 Results

April 21, 2020 6:01 AM EDT

GRAND RAPIDS, Mich., April 21, 2020 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $10.7 million, or $0.65 per diluted share, for the first quarter of 2020, compared with net income of $11.8 million, or $0.72 per diluted share, for the respective prior-year period.  Proceeds from a bank owned life insurance claim and a gain on the sale of a former branch facility increased net income in the prior-year period by $1.8 million, or $0.11 per diluted share.  Excluding the impacts of these transactions, diluted earnings per share increased $0.04, or approximately 7 percent, during the current-year... More