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Dec 31, 2019
Mercantile Bank Q4 2019 Earnings Report
Reported strong fourth quarter and full year results driven by increased net interest income and mortgage banking activity income.
Key Takeaways
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.
Strong earnings and capital position.
Solid growth in key fee income categories.
Controlled overhead costs.
Strong asset quality.
Mercantile Bank
Mercantile Bank
Mercantile Bank Revenue by Segment
Revenue by Segment
Mortgage Banking Income Revenue
CapyFin.com Forward Guidance
Mercantile believes that the solid financial performance achieved during 2019 will continue in future periods, based on their strong capital position and healthy commercial loan and residential mortgage loan pipelines and prospects.
Positive Outlook
- Mortgage banking activity income will be solid during 2020.
- Increases in other key fee income categories.
- Focus on meeting growth objectives in a cost-conscious manner.
- Healthy commercial loan pipeline
- Residential mortgage loan pipelines