Earnings ·
Reports Q3 net income of $24.1M, or $1.39 per diluted share
MBWMMercantile Bank Corp
Mercantile Bank Corporation reported third-quarter 2026 net income of $24.1 million, or $1.39 per diluted share, compared to $23.8 million, or $1.46 per diluted share, in the prior-year period. Net interest income rose 17.1 percent to $60.9 million, driven by earning asset growth and a higher net interest margin of 3.73 percent. Noninterest income increased 18.4 percent to $12.3 million, bolstered by treasury management fees and swap income. Total assets reached $7.16 billion, with local deposits growing significantly to reduce the loan-to-deposit ratio to 88.3 percent. The company operates as a bank holding company providing financial products and services in Michigan.