Mercantile Bank Q2 Profit Advances, Beats estimates

(RTTNews) - Mercantile Bank (MBWM.OB) reported earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $20.4 million, or $1.27 per share. This compares with $11.7 million, or $0.74 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 31.1% to $55.2 million from $42.1 million last year.

Mercantile Bank earnings at a glance (GAAP) :

-Earnings (Q2): $20.4 Mln. vs. $11.7 Mln. last year. -EPS (Q2): $1.27 vs. $0.74 last year. -Analyst Estimate: $1.1 -Revenue (Q2): $55.2 Mln vs. $42.1 Mln last year.