GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Mercantile Bank Corp. (MBWM) on Tuesday reported fourth-quarter net income of $22.8 million.
The Grand Rapids, Michigan-based bank said it had earnings of $1.40 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The holding company for Mercantile Bank of Michigan posted revenue of $93.3 million in the period. Its revenue net of interest expense was $62.1 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $61.8 million.
For the year, the company reported profit of $88.8 million, or $5.47 per share. Revenue was reported as $242.7 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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