Mercantile Bank Corporation (MBWM) reported net income of $21.6 million, or $1.34 per share, for the first quarter of 2024, compared with net income of $21.0 million, or $1.31 per share, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.14, for the quarter. Analysts' estimates typically exclude special items.
Total revenue was $58.2 million, up 5.2 percent, from $55.3 million during the prior-year first quarter. Analysts on average had estimated $55.38 million in revenue.
Mercantile Bank also announced that 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.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.