GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported second-quarter earnings of $25.9 million.
The bank, based in Grand Rapids, Michigan, said it had earnings of $1.50 per share. Earnings, adjusted for non-recurring costs, came to $1.53 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.
The holding company for Mercantile Bank of Michigan posted revenue of $98.2 million in the period. Its revenue net of interest expense was $68.8 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $69.3 million.
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