Mercantile Bank Q4 Profit Retreats, But Beats Estimates

(RTTNews) - Mercantile Bank (MBWM.OB) reported a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $19.63 million, or $1.22 per share. This compares with $20.03 million, or $1.25 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.8% to $58.5 million from $56.9 million last year.

Mercantile Bank earnings at a glance (GAAP) :

-Earnings (Q4): $19.63 Mln. vs. $20.03 Mln. last year. -EPS (Q4): $1.22 vs. $1.25 last year. -Revenue (Q4): $58.5 Mln vs. $56.9 Mln last year.