Welcome to our dedicated page for Mercantile Bk news (Ticker: MBWM), a resource for investors and traders seeking the latest updates and insights on Mercantile Bk stock.
Mercantile Bank Corporation (MBWM) delivers community-focused banking services across Michigan, combining local expertise with comprehensive financial solutions. This page aggregates all official news releases and verified updates about the company's operations, financial performance, and market position.
Access timely information on quarterly earnings, strategic expansions, and regulatory milestones directly from the source. Our curated feed ensures investors receive essential updates about commercial lending activities, deposit growth strategies, and Mercantile's role in supporting regional economic development.
Key content includes detailed reports on asset quality trends, leadership announcements, and analyses of the bank's loan portfolio diversification. All materials adhere to factual reporting standards while avoiding speculative commentary or investment recommendations.
Bookmark this resource for efficient tracking of MBWM's developments. Return regularly for authoritative updates about one of Michigan's leading community banking institutions.
Mercantile Bank (MBWM) has partnered with the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) through their Community Multiplier program, facilitating over $200,000 in grant funding to six nonprofit organizations across Michigan. The initiative focuses on affordable housing projects, with Mercantile Bank providing a 10% matching funds commitment.
The selected nonprofits include ICCF Community Homes, Safe Haven Ministries, Kalamazoo Neighborhood Housing Services, Capital Area Housing Partnership, Community Housing Network, and Northwest Michigan Action Agency. These organizations will receive grants ranging from $25,000 to $125,000 to support various housing initiatives, including homebuyer education, supportive services, and transitional and permanent housing solutions.
Mercantile Bank (NASDAQ: MBWM) reported Q1 2025 net income of $19.5 million ($1.21 per diluted share), compared to $21.6 million ($1.34 per diluted share) in Q1 2024.
Key financial highlights include:
- Net revenue of $57.2 million, down 1.7% year-over-year
- Net interest income increased 2.5% to $48.6 million
- Noninterest income decreased to $8.7 million from $10.9 million
- Net interest margin was 3.47%, down from 3.74%
The bank maintained strong asset quality with nonperforming assets at less than 0.1% of total assets. Total assets reached $6.14 billion, with total deposits at $4.68 billion. The loan-to-deposit ratio slightly increased to 99% from 98% at year-end 2024. The bank maintains a well-capitalized position with a total risk-based capital ratio of 14.0%.
Mercantile Bank (NASDAQ: MBWM) has declared a regular quarterly cash dividend of $0.37 per common share, representing a 5.7% increase compared to the second quarter of 2024. The dividend, which provides an annual yield of approximately 3.6%, will be payable on June 18, 2025, to shareholders of record as of June 6, 2025.
President and CEO Ray Reitsma highlighted the company's sustained financial strength during Q1 2025, enabling the continuation of their regular cash dividend program. Despite uncertain economic conditions, management expressed confidence in maintaining shareholder value while supporting expected asset growth through their sound balance sheet structure.
Mercantile Bank (NASDAQ: MBWM) has scheduled its first quarter 2025 earnings conference call and webcast for Tuesday, April 22, 2025, at 10 a.m. ET. The company will release its Q1 2025 financial results before markets open on the same day.
Investors and interested parties can access the live conference call by dialing 1-844-868-8844 and requesting the 'Mercantile Bank Call'. Participants are advised to dial in approximately 10 minutes before the call starts. Additionally, a live webcast will be available on the company's investor relations website at ir.mercbank.com, where an audio archive will be accessible following the call.
Mercantile Bank (NASDAQ: MBWM) reported net income of $19.6 million ($1.22 per diluted share) for Q4 2024 and $79.6 million ($4.93 per diluted share) for full-year 2024, compared to $20.0 million and $82.2 million in the respective prior-year periods.
Key highlights include strong commercial loan growth of 8.5%, significant local deposit growth of $816 million, and a reduction in the loan-to-deposit ratio from 110% to 98%. Net revenue increased 2.8% to $58.5 million in Q4 2024, while noninterest income grew 22.6% to $10.2 million.
The net interest margin decreased to 3.41% in Q4 2024 from 3.92% in Q4 2023. Asset quality remained strong with nonperforming assets at less than 0.1% of total assets. The bank maintained a well-capitalized position with a total risk-based capital ratio of 13.9%.
Mercantile Bank (NASDAQ: MBWM) has announced a regular quarterly cash dividend increase to $0.37 per common share, representing a 2.8% increase from Q4 2024 and a 5.7% rise from Q1 2024. The dividend, which provides an annual yield of approximately 3.4%, will be payable on March 19, 2025, to shareholders of record as of March 7, 2025.
President and CEO Ray Reitsma emphasized that this increase reflects the company's commitment to building shareholder value through cash returns. He noted that Mercantile's balance sheet composition and earnings have remained strong despite uncertain economic conditions, suggesting continued support for the regular dividend program while maintaining capital for asset growth.
Mercantile Bank (NASDAQ: MBWM) has announced it will host a conference call and webcast on Tuesday, January 21, 2025, at 10 a.m. ET to discuss its fourth quarter and full year 2024 financial results. The company will release its earnings report before markets open on the same day.
The earnings release will be available in the Investor Relations section of the company's website at ir.mercbank.com. Interested participants can join the live conference call by dialing 1-844-868-8844 and requesting the 'Mercantile Bank Call.' Participants are advised to dial in approximately 10 minutes before the call starts. The conference will also be webcast live, with an audio archive available afterward on the company's Investor Relations website.
Mercantile Bank (NASDAQ: MBWM) reported strong third quarter results for 2024. Net income was $19.6 million, or $1.22 per diluted share, compared to $20.9 million, or $1.30 per diluted share, in Q3 2023. Highlights include:
- Robust local deposit growth and strong commercial loan portfolio expansion
- Ongoing strength in commercial loan pipeline
- Noteworthy increases in several noninterest income revenue streams
- Continuing low levels of nonperforming assets, past due loans, and loan charge-offs
- Solid capital position
The net interest margin was 3.52% in Q3 2024, down from 3.98% in Q3 2023. Total assets reached $5.92 billion, up $564 million from December 31, 2023. Total loans increased by $249 million during the first nine months of 2024. The loan-to-deposit ratio improved from 110% to 102% during this period.
Mercantile Bank (NASDAQ: MBWM) has announced a regular quarterly cash dividend of $0.36 per common share, as declared by its Board of Directors on October 10, 2024. This dividend, payable on December 18, 2024, to shareholders of record as of December 6, 2024, represents a nearly 6 percent increase from the fourth quarter of 2023. The current dividend provides an annual yield of approximately 3.5 percent.
Ray Reitsma, President and CEO of Mercantile, stated that the company's strong financial performance during challenging economic conditions has enabled them to maintain their regular cash dividend program. He expressed confidence in the company's ability to continue rewarding shareholders with competitive dividend yields while supporting projected asset growth.
Mercantile Bank (NASDAQ: MBWM) has announced its upcoming third quarter 2024 results conference call and webcast. The event is scheduled for Tuesday, October 15, 2024, at 10 a.m. ET. The company will release its third quarter 2024 earnings report before markets open on the same day, which will be available in the "Investor Relations" section of Mercantile's website.
Interested participants can join the live conference call by dialing 1-844-868-8844 and requesting the "Mercantile Bank Call." It is recommended to dial in about 10 minutes before the call starts. Additionally, a live webcast will be available on the company's investor relations website. Following the call, an audio archive will be accessible on the same website for those unable to attend the live event.
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