Mercantile Bank Corp. (MBWM), Tuesday, reported a rise in profit for the first quarter, as non-interest income recorded a growth of 10.4 percent, while net interest income declined from the prior year.
The Grand Rapids, Michigan-based company reported a first-quarter net profit attributable to common shares of $2.55 million or $0.28 per share, compared to $1.08 million or $0.12 per share last year.
On average, three analysts polled by Thomson Reuters expected the company to earn $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue, which consists of net interest income and non-interest income, declined 9.2 percent to $13.8 million from $15.2 million in the prior-year quarter. Three analysts had a consensus revenue estimate of $13.99 million for the quarter.
Net interest income for the quarter dropped 11.7 percent to $11.87 million from $13.45 million in the prior-year quarter, resulted from a 14.8 percent decline in average earning assets.
Total non-interest income for the quarter rose to $1.93 million from $1.72 million in the prior-year quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.