Mercantile Bank Corporation operates as the bank holding company for Mercantile Bank of Michigan that provides commercial and retail banking services for small- to medium-sized businesses and individuals in the United States. It accepts various deposit products, including checking, savings, and term certificate accounts; time deposits; and certificates of deposit. The company also offers commercial, residential mortgage, and instalment loans; vacant land, land development, and residential construction loans; owner and non-owner occupied, and multi-family and residential rental property real estate loans; single-family residential real estate loans; home equity line of credit programs; and consumer loans, such as loans for new and used automobiles, boats, and credit cards, as well as overdraft protection services. In addition, it provides courier services and safe deposit facilities; repurchase agreements; and insurance products, such as private passenger automobile, homeowners, personal inland marine, boat owners, recreational vehicle, dwelling fire, umbrella policies, small business, and life insurance products, as well as owns 27 automated teller machines and 13 video banking machines. The company operates 44 banking offices. Mercantile Bank Corporation was incorporated in 1997 and is headquartered in Grand Rapids, Michigan.
IPO Year: 1998
Exchange: NASDAQ
Website: mercbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/8/2024 | Buy → Neutral | Janney | |
| 3/4/2024 | Outperform → Market Perform | Hovde Group | |
| 1/16/2024 | Neutral → Buy | Janney | |
| 3/7/2023 | $38.00 → $40.00 | Neutral → Overweight | Piper Sandler |
| 1/18/2023 | Outperform → Mkt Perform | Raymond James | |
| 10/6/2022 | $44.00 → $35.00 | Strong Buy → Outperform | Raymond James |
| 7/28/2022 | $41.00 | Market Perform → Outperform | Hovde Group |
| 3/2/2022 | $44.00 | Outperform → Strong Buy | Raymond James |
| 1/19/2022 | $44.00 | Market Perform → Outperform | Raymond James |
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
Robust local deposit and commercial loan growth and sustained strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $19.6 million, or $1.22 per diluted share, for the third quarter of 2024, compared with net income of $20.9 million, or $1.30 per diluted share, for the third quarter of 2023. Net income during the first nine months of 2024 totaled $60.0 million, or $3.72 per diluted share, compared with net income of $62.2 million, or $3.89 per diluted share, during the first nine months of 2023.
Board declares $0.36 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.5 percent GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on October 10, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on December 18, 2024, to holders of record as of December 6, 2024. The $0.36 cash dividend represents an increase of nearly 6 percent from the cash dividend paid during the fourth quarter of 2023.
GRAND RAPIDS, Mich., Sept. 30, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, October 15, 2024, to discuss third quarter 2024 financial results. The Company's third quarter 2024 earnings release will be released before markets open on Tuesday, October 15, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on October 15, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Merc
Strong local deposit and commercial loan growth and ongoing strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., July 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $18.8 million, or $1.17 per diluted share, for the second quarter of 2024, compared with net income of $20.4 million, or $1.27 per diluted share, for the second quarter of 2023. Net income during the first six months of 2024 totaled $40.3 million, or $2.50 per diluted share, compared with net income of $41.3 million, or $2.58 per diluted share, during the first six months of 2023.
Board declares $0.36 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.4 percent GRAND RAPIDS, Mich., July 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on July 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on September 18, 2024, to holders of record as of September 6, 2024. The $0.36 cash dividend represents increases of nearly 3 percent and 6 percent from the cash dividends paid during the second quarter of 2024 and third quarter of 2023, respectively.
GRAND RAPIDS, Mich., June 27, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, July 16, 2024, to discuss second quarter 2024 financial results. The Company's second quarter 2024 earnings release will be released before markets open on Tuesday, July 16, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on July 16, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Mercantile B
GRAND RAPIDS, Mich., June 3, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) implemented the following resignations and appointments, in furtherance of its previously announced management succession plan, effective as of June 1, 2024: Robert B. Kaminski, Jr. has retired as President and Chief Executive Officer ("CEO") of Mercantile and as CEO of Mercantile's wholly owned subsidiary, Mercantile Bank (the "Bank"). Mr. Kaminski remains a Director of both Mercantile and the Bank. Raymond E. Reitsma has resigned as Executive Vice President ("EVP") and Chief Operating
Strong local deposit growth, sustained strength in asset quality metrics and noteworthy increases in several noninterest revenue streams highlight quarter GRAND RAPIDS, Mich., April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $21.6 million, or $1.34 per diluted share, for the first quarter of 2024, compared with net income of $21.0 million, or $1.31 per diluted share, for the first quarter of 2023. "We are delighted to report another quarter of excellent financial results," said Robert B. Kaminski, Jr., President and
Board declares $0.35 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.9 percent GRAND RAPIDS, Mich., April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on April 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share, payable on June 19, 2024, to holders of record as of June 7, 2024. The $0.35 cash dividend is approximately 6 percent higher than the cash dividend paid during the second quarter of 2023. "We are very pl
GRAND RAPIDS, Mich., March 28, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, April 16, 2024, to discuss first quarter 2024 financial results. The Company's first quarter 2024 earnings release will be released before markets open on Tuesday, April 16, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on April 16, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Mercantile
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10-Q - MERCANTILE BANK CORP (0001042729) (Filer)
8-K - MERCANTILE BANK CORP (0001042729) (Filer)
10-Q - MERCANTILE BANK CORP (0001042729) (Filer)
8-K - MERCANTILE BANK CORP (0001042729) (Filer)
8-K - MERCANTILE BANK CORP (0001042729) (Filer)
11-K - MERCANTILE BANK CORP (0001042729) (Filer)
8-K - MERCANTILE BANK CORP (0001042729) (Filer)
8-K - MERCANTILE BANK CORP (0001042729) (Filer)
8-K - MERCANTILE BANK CORP (0001042729) (Filer)
10-Q - MERCANTILE BANK CORP (0001042729) (Filer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
4 - MERCANTILE BANK CORP (0001042729) (Issuer)
Keefe, Bruyette & Woods analyst Damon Delmonte reiterates Mercantile Bank (NASDAQ:MBWM) with a Outperform and raises the price target from $47 to $51.
Piper Sandler analyst Brandan Nosal maintains Mercantile Bank (NASDAQ:MBWM) with a Neutral and raises the price target from $42 to $53.
U.S. regional banks are experiencing sessions of significant gains, as growing expectations for interest rate cuts fueled an investor rotation from large-cap to small-cap stocks. The SPDR S&P Regional Banking ETF (NYSE:KRE) — a widely followed gauge for the industry — rallied as much as 4.5% on Tuesday, marking the strongest session since December 2023. Notably, the recent five-day rally of nearly 15% was the strongest for regional banks since November 2020. With Tuesday’s move, regional banks have effectively recouped all losses suffered after March 9, 2023, characterized by the failure of Silicon Valley Bank and Signature Bank. “Lending conditions for commercial and industrial
Mercantile recorded provisions for credit losses of $3.5 million and $2.0 million during the second quarters of 2024 and 2023, respectively.
Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on July 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on September 18, 2024, to holders of record as of September 6, 2024. The $0.36 cash dividend represents increases of nearly 3 percent and 6 percent from the cash dividends paid during the second quarter of 2024 and third quarter of 2023, respectively.
Keefe, Bruyette & Woods analyst Damon Delmonte reiterates Mercantile Bank (NASDAQ:MBWM) with a Outperform and maintains $47 price target.
Companies Reporting Before The Bell • Traws Pharma (NASDAQ:TRAW) is expected to report earnings for its fourth quarter. • Telefonaktiebolaget L M (NASDAQ:ERIC) is estimated to report quarterly earnings at $0.05 per share on revenue of $5.34 billion. • Bank of America (NYSE:BAC) is expected to report quarterly earnings at $0.77 per share on revenue of $25.45 billion. • PNC Finl Servs Gr (NYSE:PNC) is projected to report quarterly earnings at $3.03 per share on revenue of $5.19 billion. • Bank of New York Mellon (NYSE:BK) is expected to report quarterly earnings at $1.19 per share on revenue of $4.38 billion. • Johnson & Johnson (NYSE:JNJ) is likely to report quarterly earnings at $2.64
Robust local deposit and commercial loan growth and sustained strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $19.6 million, or $1.22 per diluted share, for the third quarter of 2024, compared with net income of $20.9 million, or $1.30 per diluted share, for the third quarter of 2023. Net income during the first nine months of 2024 totaled $60.0 million, or $3.72 per diluted share, compared with net income of $62.2 million, or $3.89 per diluted share, during the first nine months of 2023.
Board declares $0.36 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.5 percent GRAND RAPIDS, Mich., Oct. 15, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on October 10, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on December 18, 2024, to holders of record as of December 6, 2024. The $0.36 cash dividend represents an increase of nearly 6 percent from the cash dividend paid during the fourth quarter of 2023.
GRAND RAPIDS, Mich., Sept. 30, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, October 15, 2024, to discuss third quarter 2024 financial results. The Company's third quarter 2024 earnings release will be released before markets open on Tuesday, October 15, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on October 15, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Merc
Strong local deposit and commercial loan growth and ongoing strength in asset quality metrics highlight quarter GRAND RAPIDS, Mich., July 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $18.8 million, or $1.17 per diluted share, for the second quarter of 2024, compared with net income of $20.4 million, or $1.27 per diluted share, for the second quarter of 2023. Net income during the first six months of 2024 totaled $40.3 million, or $2.50 per diluted share, compared with net income of $41.3 million, or $2.58 per diluted share, during the first six months of 2023.
Board declares $0.36 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.4 percent GRAND RAPIDS, Mich., July 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on July 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.36 per common share, payable on September 18, 2024, to holders of record as of September 6, 2024. The $0.36 cash dividend represents increases of nearly 3 percent and 6 percent from the cash dividends paid during the second quarter of 2024 and third quarter of 2023, respectively.
GRAND RAPIDS, Mich., June 27, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, July 16, 2024, to discuss second quarter 2024 financial results. The Company's second quarter 2024 earnings release will be released before markets open on Tuesday, July 16, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on July 16, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Mercantile B
Strong local deposit growth, sustained strength in asset quality metrics and noteworthy increases in several noninterest revenue streams highlight quarter GRAND RAPIDS, Mich., April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $21.6 million, or $1.34 per diluted share, for the first quarter of 2024, compared with net income of $21.0 million, or $1.31 per diluted share, for the first quarter of 2023. "We are delighted to report another quarter of excellent financial results," said Robert B. Kaminski, Jr., President and
Board declares $0.35 regular quarterly cash dividend on common stock, providing for a current annual yield of approximately 3.9 percent GRAND RAPIDS, Mich., April 16, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that on April 11, 2024, its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share, payable on June 19, 2024, to holders of record as of June 7, 2024. The $0.35 cash dividend is approximately 6 percent higher than the cash dividend paid during the second quarter of 2023. "We are very pl
GRAND RAPIDS, Mich., March 28, 2024 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) will host a conference call and webcast at 10 a.m. ET on Tuesday, April 16, 2024, to discuss first quarter 2024 financial results. The Company's first quarter 2024 earnings release will be released before markets open on Tuesday, April 16, 2024, and available in the "Investor Relations" section of the Company's website, ir.mercbank.com. Participants may access the live conference call on April 16, 2024, at 10 a.m. ET (9 a.m. CT) by dialing 1-844-868-8844 and requesting the "Mercantile
GRAND RAPIDS, Mich., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") reported net income of $20.0 million, or $1.25 per diluted share, for the fourth quarter of 2023, compared with net income of $21.8 million, or $1.37 per diluted share, for the respective prior-year period. For the full-year 2023, Mercantile reported net income of $82.2 million, or $5.13 per diluted share, compared with net income of $61.1 million, or $3.85 per diluted share, for the full-year 2022. "We are very pleased to report another year of outstanding financial results," said Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile. "Our robust operatin
GRAND RAPIDS, Mich., Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile") announced today that President and Chief Executive Officer ("CEO") Robert B. Kaminski. Jr., intends to retire effective June 1, 2024. Mr. Kaminski will remain on the Board of Directors. In conjunction with Mr. Kaminski's retirement, Raymond E. Reitsma will be appointed President and CEO of Mercantile effective June 1, 2024. Mr. Reitsma will continue to serve in his current role as Executive Vice President and Chief Operating Officer until June 1, 2024. Mr. Kaminski commented, "The management succession process is an ongoing responsibility which is v
GRAND RAPIDS, Mich., Dec. 1, 2022 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ:MBWM) ("Mercantile"), announced today the appointments of Amy L. Sparks, CPA and Nelson F. Sanchez, CPA to the Bank's Board of Directors in the second half of 2022. "We are thrilled to welcome two new Directors who bring a wealth of experience in business, finance and manufacturing as we expand the diversification of perspectives across our Board. Amy's executive leadership of solidifying financial performance, organizational development, diversifying into new markets and increased employee e
Janney downgraded Mercantile Bank from Buy to Neutral
Hovde Group downgraded Mercantile Bank from Outperform to Market Perform
Janney upgraded Mercantile Bank from Neutral to Buy
Piper Sandler upgraded Mercantile Bank from Neutral to Overweight and set a new price target of $40.00 from $38.00 previously
Raymond James downgraded Mercantile Bank from Outperform to Mkt Perform
Raymond James downgraded Mercantile Bank from Strong Buy to Outperform and set a new price target of $35.00 from $44.00 previously
Hovde Group upgraded Mercantile Bank from Market Perform to Outperform and set a new price target of $41.00
Raymond James upgraded Mercantile Bank from Outperform to Strong Buy and set a new price target of $44.00
Raymond James upgraded Mercantile Bank from Market Perform to Outperform and set a new price target of $44.00