Mercantile Bank Q3 Profit Rises, Beats Estimates

(RTTNews) - Mercantile Bank (MBWM) released earnings for its third quarter that Increased, from last year and beat the Street estimates.

The company's bottom line totaled $23.76 million, or $1.46 per share. This compares with $19.62 million, or $1.22 per share, last year.

Analysts on average had expected the company to earn $1.38 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 7.7% to $52.00 million from $48.29 million last year.

Mercantile Bank earnings at a glance (GAAP) :

-Earnings: $23.76 Mln. vs. $19.62 Mln. last year. -EPS: $1.46 vs. $1.22 last year. -Revenue: $52.00 Mln vs. $48.29 Mln last year.