GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported third-quarter net income of $23.8 million.
The bank, based in Grand Rapids, Michigan, said it had earnings of $1.46 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.
The holding company for Mercantile Bank of Michigan posted revenue of $96 million in the period. Its revenue net of interest expense was $62.4 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $61.4 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBWM at https://www.zacks.com/ap/MBWM
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