Mercantile Bank Earnings Reports

Mercantile Bank Corporation reported strong financial results for the second quarter of 2025, with net income increasing to $22.6 million, or $1.39 per diluted share, driven by net interest income growth, significant noninterest income increases, and a substantial reduction in federal income tax expense. The company also maintained robust asset quality and capital levels, and announced a strategic partnership with Eastern Michigan Financial Corporation.

Mercantile Bank delivered a steady performance in Q1 2025, driven by higher net interest income and robust asset quality despite lower noninterest income and a narrower interest margin.

Mercantile Bank Corporation reported a net income of $19.6 million, or $1.22 per diluted share, for the fourth quarter of 2024. The results were driven by strong commercial loan and local deposit growth, a healthy net interest margin, and a significant increase in noninterest income.

Mercantile Bank Corporation reported a net income of $19.6 million for the third quarter of 2024, a slight decrease compared to $20.9 million in the same period last year. The bank saw growth in local deposits and commercial loans, reflecting a focus on relationship banking. Net revenue remained relatively stable, with a slight decrease in net interest income offset by an increase in noninterest income.

Mercantile Bank Corporation reported a net income of $18.8 million, or $1.17 per diluted share, for the second quarter of 2024. Net revenue was $56.8 million, up 2.8 percent from the prior-year second quarter. The bank experienced solid local deposit and commercial loan growth, along with strength in asset quality metrics.

Mercantile Bank Corporation reported a net income of $21.6 million for Q1 2024, up from $21.0 million in Q1 2023. The increase was driven by revenue growth and strong operating performance. Total assets reached $5.47 billion, and total deposits increased to $4.01 billion.

Mercantile Bank Corporation reported a net income of $20.0 million for Q4 2023, compared to $21.8 million for the same period last year. The results reflect a decrease in total revenue and net interest income, offset by an increase in noninterest income. The bank's asset quality remained strong, and the capital position was well-maintained.

Mercantile Bank Corporation reported a strong third quarter with a net income of $20.9 million, or $1.30 per diluted share, compared to $16.0 million, or $1.01 per diluted share, for the same period last year. The results were propelled by enhanced net interest income, which was up nearly 16 percent due to a higher net interest margin and growth in the commercial loan and residential mortgage loan portfolios.

Mercantile Bank Corporation reported a strong second quarter of 2023, with net income increasing to $20.4 million, or $1.27 per diluted share, driven by a significant rise in net interest income and solid loan growth. The company's asset quality remained strong, and its capital position remained well-capitalized.

Mercantile Bank Corporation reported a net income of $21.0 million, or $1.31 per diluted share, for the first quarter of 2023. The strong performance resulted from a significant increase in net interest income due to a higher net interest margin and loan growth. Asset quality metrics remained pristine during the quarter.

Mercantile Bank Corporation reported a strong fourth quarter and full year in 2022, with net income for Q4 reaching $21.8 million, or $1.37 per diluted share, compared to $11.6 million, or $0.74 per diluted share, for the prior year period. The increase was driven by a significantly higher level of net interest income, strong growth in commercial and residential mortgage loans, and disciplined overhead cost management.

Mercantile Bank Corporation reported a net income of $16.0 million, or $1.01 per diluted share, for the third quarter of 2022, compared with net income of $15.1 million, or $0.95 per diluted share, for the respective prior-year period. The increase was driven by substantial growth in net interest income and continued loan growth, which offset a decline in mortgage banking income.

Mercantile Bank Corporation reported a net income of $11.7 million, or $0.74 per diluted share, for the second quarter of 2022. The results reflect growth in core commercial and residential mortgage loans, an increase in net interest income, and growth in key fee income revenue streams, which offset a decrease in mortgage banking income.

Mercantile Bank Corporation reported a net income of $11.5 million for Q1 2022, a decrease compared to the previous year's $14.2 million. The results were driven by core commercial loan growth, strong asset quality, and increases in fee income, despite a drop in mortgage banking revenue.

Mercantile Bank Corporation reported a net income of $11.6 million, or $0.74 per diluted share, for the fourth quarter of 2021. The results reflect solid growth in core commercial loans and residential mortgage loans, a higher level of net interest income, increases in all key fee income categories, and sustained strength in asset quality.

Mercantile Bank Corporation reported a strong third quarter with net income of $15.1 million, up 40.8% year-over-year. The bank experienced growth in core commercial loans, residential mortgage loans, and key fee income categories, while maintaining strong asset quality metrics.

Mercantile Bank Corporation reported a strong second quarter with a net income of $18.1 million, or $1.12 per diluted share, compared to $8.7 million, or $0.54 per diluted share, for the same period last year. The increase was driven by growth in core commercial loans, sustained strength in mortgage banking income, and sound asset quality metrics.

Mercantile Bank Corporation reported a net income of $14.1 million, or $0.87 per diluted share, for the fourth quarter of 2020, compared to $13.3 million, or $0.81 per diluted share, for the same period last year. Total revenue was $46.2 million, up 20.0 percent from the prior-year fourth quarter. The increase was mainly due to increased mortgage banking income.

Mercantile Bank Corporation reported a net income of $10.7 million, or $0.66 per diluted share, for the third quarter of 2020. Total revenue increased by 11.8 percent compared to the prior-year third quarter, driven by a substantial increase in mortgage banking income.

Mercantile Bank Corporation reported a net income of $8.7 million for the second quarter of 2020, a decrease compared to the prior-year period. The results were impacted by an increase in loan loss reserves due to the COVID-19 pandemic, which was partially offset by a substantial increase in mortgage banking income.

Mercantile Bank Corporation reported a net income of $10.7 million, or $0.65 per diluted share, for the first quarter of 2020. Total revenue was $36.9 million, with net interest income at $30.3 million and noninterest income at $6.6 million.

Mercantile Bank Corporation reported a net income of $13.3 million, or $0.81 per diluted share, for Q4 2019, compared to $11.6 million, or $0.70 per diluted share, for the same period last year. Total revenue increased by 6.3% to $38.5 million. The company saw growth in the loan portfolio, increases in noninterest income, controlled overhead costs, and sound asset quality.