Mercantile Bank reports Q4 EPS $1.22, consensus $1.14

Reports Q4 revenue $58.5M, consensus $57.33M. Reports Q4 tangible book value per share $33.14. Reports Q4 CET1 capital ratio 10.6%. “We are very pleased to report another year of solid financial results,” said Ray Reitsma, president and CEO of Mercantile. “Our strong operating performance was fueled by robust commercial loan and local deposit growth, ongoing strength in asset quality metrics, a healthy net interest margin, and a significant increase in noninterest income. As evidenced by the noteworthy increases in commercial loans and local deposits, our team members remain committed to meeting the needs of existing clients and attracting new customers while building mutually beneficial relationships. During 2024, we successfully executed several strategic initiatives, including lowering our loan-to-deposit ratio and increasing our on-balance sheet liquidity. We believe our strong overall financial standing and commercial loan funding opportunities position us to effectively meet challenges arising from changing operating environments.”