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Dec 31, 2021
Mercantile Bank Q4 2021 Earnings Report
Reported strong results driven by core commercial loan growth and robust operating performance.
Key Takeaways
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.
Net income was $11.6 million, or $0.74 per diluted share.
Total revenue was $45.2 million.
Net interest income was $32.5 million.
Noninterest income totaled $12.6 million.
Mercantile Bank
Mercantile Bank
Forward Guidance
Based on a dynamic financial position, healthy loan pipelines, and identified client acquisition opportunities, Mercantile Bank believes it is well positioned to continue delivering solid operating results, growth levels and returns to investors. If the Federal Open Market Committee initiates rate hikes in 2022 as currently expected, the balance sheet structure is positioned to generate additional net interest income.
Positive Outlook
- Dynamic financial position
- Healthy loan pipelines
- Identified client acquisition opportunities
- Positioned to continue delivering solid operating results
- Balance sheet structure is positioned to generate additional net interest income