Mercantile Bank Corporation Announces Strong First Quarter 2021 Results
Continued strength in mortgage banking income and asset quality metrics, along with solid core commercial loan growth, highlight quarter
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GRAND RAPIDS, Mich., April 20, 2021 /PRNewswire/ Mercantile Bank Corporation (NASDAQ: MBWM) ( Mercantile ) reported net income of $14.2 million, or $0.87 per diluted share, for the first quarter of 2021, compared with net income of $10.7 million, or $0.65 per diluted share, for the respective prior-year period. We are very pleased to begin 2021 with a quarter of robust financial performance, said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. Our strong financial results include ongoing strength in mortgage banking income, sound asset quality, solid growth in core commercial loans, and managed overhead costs. The extraordinary efforts of the Mercantile team have allowed us to s
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GRAND RAPIDS, Mich., April 20, 2021 /PRNewswire/ Mercantile Bank Corporation (NASDAQ: MBWM) ( Mercantile ) reported net income of $14.2 million, or $0.87 per diluted share, for the first quarter of 2021, compared with net income of $10.7 million, or $0.65 per diluted share, for the respective prior-year period. We are very pleased to begin 2021 with a quarter of robust financial performance, said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. Our strong financial results include ongoing strength in mortgage banking income, sound asset quality, solid growth in core commercial loans, and managed overhead costs. The extraordinary efforts of the Mercantile team have allowed us to successfully and consistently meet our customers banking needs during this continuing period of uncertainty stemming from the COVID-19 pandemic.
Mercantile Bank Corporation Announces Strong Fourth Quarter and Full Year 2020 Results
Substantial increase in mortgage banking income and sustained strength in asset quality metrics highlight 2020
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GRAND RAPIDS, Mich., Jan. 19, 2021 /PRNewswire/
Mercantile Bank Corporation (NASDAQ: MBWM) ( Mercantile ) reported net income of $14.1 million, or $0.87 per diluted share, for the fourth quarter of 2020, compared with net income of $13.3 million, or $0.81 per diluted share, for the respective prior-year period. For the full year 2020, Mercantile reported net income of $44.1 million, or $2.71 per diluted share, compared with net income of $49.5 million, or $3.01 per diluted share, for the full year 2019.
IONIA — A historic building in downtown Ionia could become the new home of the community’s library — thanks to a generous donation from the bank that recently occupied it.Mercantile Bank of Michigan donated its downtown Ionia building at 302 W. Main St. to the Ionia Community Library. The bank announced the decision in a news release issued Wednesday, Jan. 13. Ownership is set to transfer to the ICL in March.Gale Yeomans, president of the ICL Board of Trustees, said the entire