Mercantile Bank Q3 Earnings Top Estimates at $1.42 Per Share; Revenue $102.6M

Mercantile Bank Corp. (MBWM) reported third-quarter earnings of $24.1 million on Tuesday, with adjusted earnings of $1.42 per share beating the $1.35 average estimate from four analysts surveyed by Zacks Investment Research. The Grand Rapids, Michigan-based bank posted unadjusted earnings of $1.39 per share, with adjustments tied to merger and acquisition costs. Revenue for the period was $102.6 million; revenue net of interest expense came in at $73.2 million, surpassing the $70.6 million forecast by four Zacks analysts. The holding company for Mercantile Bank of Michigan is based in Grand Rapids. The results reflect earnings covering the third quarter.