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 Corporation (NASDAQ: MBWM) announced its Q3 2022 results, reporting a net income of $16.0 million ($1.01/share), up from $15.1 million ($0.95/share) in Q3 2021. Total revenue increased to $49.6 million, driven by a 36% rise in net interest income to $42.4 million. The net interest margin expanded to 3.56%, up from 2.71% the previous year. Despite a decrease in noninterest income to $7.3 million, asset quality remained strong with nonperforming assets at 0.1% of total assets. Total loans grew by $427 million in 2022, showcasing robust commercial and residential lending activity.
Mercantile Bank Corporation (NASDAQ: MBWM) declared a quarterly cash dividend of $0.32 per common share on October 13, 2022, payable on December 14, 2022. This decision reflects the bank's strong operating performance and robust capital position, resulting in a current annual yield of approximately 4.0%. The company emphasizes its commitment to continue supporting loan growth while maintaining its dividend program.
Mercantile Bank Corporation (NASDAQ: MBWM) is set to hold a conference call and webcast on October 18, 2022, at 10:00 a.m. ET to discuss its third quarter 2022 results. Interested participants can join by dialing 1-844-868-8844 or via the live webcast at ir.mercbank.com. The bank, headquartered in Grand Rapids, Michigan, has assets of approximately $5.0 billion and operates 46 banking offices.
Mercantile Bank Corporation (NASDAQ: MBWM) reported a net income of $11.7 million for Q2 2022, down from $18.1 million in Q2 2021. For the first half of 2022, net income totaled $23.2 million, decreasing from $32.3 million in 2021.
Key highlights include 10% core commercial loan growth, increased net interest income of $34.3 million, and a net interest margin rise to 2.88%. Noninterest income fell significantly to $7.7 million due to lower mortgage banking income. Total assets were $5.06 billion, with loans increasing by $270 million. The company maintains strong asset quality metrics.
On July 14, 2022, Mercantile Bank Corporation (NASDAQ: MBWM) declared a quarterly cash dividend of $0.32 per common share, up 3.2% from the previous $0.31 dividend. The dividend, yielding approximately 4.0% annually, is payable on September 14, 2022, to shareholders on record as of September 2, 2022. Robert B. Kaminski, Jr., President and CEO, emphasized that this increase reflects the bank's financial strength and commitment to delivering competitive returns while supporting sustainable loan growth.
Mercantile Bank Corporation (NASDAQ: MBWM) will host a conference call on July 19, 2022, at 10:00 a.m. ET to discuss its second quarter 2022 results. The call can be accessed by calling 1-844-868-8844 or through a live webcast at ir.mercbank.com. Mercantile Bank, based in Grand Rapids, Michigan, has approximately $5.1 billion in assets and operates 45 banking offices.
Mercantile Bank Corporation (NASDAQ: MBWM) reported a net income of $11.5 million for Q1 2022, down from $14.2 million in Q1 2021. Key highlights included an annualized core commercial loan growth of approximately 11% and increased fee income from various segments, despite a decline in mortgage banking revenue due to market changes. Total revenue was $40.2 million, down from $43.0 million year-over-year. The bank maintained strong asset quality, with low nonperforming assets and a capital position that remains 'well-capitalized'.
Mercantile Bank Corporation (NASDAQ: MBWM) declared a regular quarterly cash dividend of $0.31 per share on April 14, 2022, with payment scheduled for June 15, 2022. This dividend results in an annual yield of approximately 3.6%. CEO Robert B. Kaminski, Jr. emphasized the bank's overall financial strength, which supports shareholder value through cash returns, while also committing to monitor the economic landscape to adjust future dividends if necessary.
Mercantile Bank Corporation (NASDAQ: MBWM) will hold a conference call on April 19, 2022, at 10:00 a.m. ET to discuss its first quarter 2022 results. Interested parties can join the call by dialing 1-844-868-8844 or via a live webcast at ir.mercbank.com. Mercantile Bank, based in Grand Rapids, Michigan, has assets of approximately $5.2 billion and operates 44 banking offices, focusing on high-quality banking services.
Mercantile Bank Corporation (NASDAQ: MBWM) reported a net income of $11.6 million ($0.74 per diluted share) for Q4 2021, down from $14.1 million ($0.87 per diluted share) in Q4 2020. Full-year 2021 net income rose to $59 million ($3.69 per diluted share) from $44.1 million ($2.71 per diluted share) in 2020. The decrease in Q4 was attributed to $3.2 million in costs related to The Mercantile Bank Foundation. Key highlights included growth in commercial and residential mortgages, increased fee income, and a cash dividend increase of over 3% for Q1 2022. Total assets reached $5.26 billion, up 18.5% YoY.
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