Mercantile Bank: Q1 Earnings Snapshot

Mercantile Bank: Q1 Earnings Snapshot
April 20, 2021
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The Grand Rapids, Michigan-based company said it had profit of 87 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The holding company for Mercantile Bank of Michigan posted revenue of $48.2 million in the period. Its adjusted revenue was $43 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $39.7 million.
Mercantile Bank shares have climbed 19% since the beginning of the year. The stock has risen 50% in the last 12 months.
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