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Mercantile Bank Corp. (MBWM)
NASDAQ:MBWM
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Earnings Data
Report Date
Jan 21, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.19Last Year’s EPS
1.34Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 16, 2018
|% Change Since: 10.27%
|Next Earnings Date:Jul 17, 2018
Earnings Call Sentiment|Neutral
The earnings call highlighted strong loan and deposit growth, improved asset quality, and increased noninterest income. However, these positives were offset by decreased net income, a decline in net interest margin, and increased noninterest expenses.Company Guidance
The earnings call for Mercantile Bank Corporation's fourth quarter of 2024 provided comprehensive guidance on several financial metrics. The bank reported a significant reduction in its loan-to-deposit ratio from 110% at the end of 2023 to 98% by the end of 2024, driven by a 22% increase in local deposits and a 7% growth in the loan portfolio. Commercial loan growth for the fiscal year was $292 million, or 8.5%, with a $59 million increase in the fourth quarter alone, while mortgage banking income surged by 62% due to strategic changes in mortgage programs. Noninterest income grew by 26%, bolstered by a 38% rise in service charges and a 22% increase in payroll services income. Meanwhile, the bank's net interest margin faced a decline, but interest income on loans rose, reflecting a strong loan growth despite a lower yield. For 2025, the bank projected a loan growth of 5% to 7% and aimed to maintain a net interest margin between 3.3% and 3.4%, with a stable federal funds rate expected throughout the year.Strong Loan and Deposit Growth
Commercial and mortgage loan growth was strong with a $292 million increase, or 8.5% over the prior year-end. Local deposits grew by $816 million, a growth rate of more than 20%, with $216 million increase in the fourth quarter alone.
Improved Loan-to-Deposit Ratio
The loan-to-deposit ratio decreased from 110% at year-end 2023 to 98% at year-end 2024, showing improved liquidity and a reduced reliance on wholesale funding.
Asset Quality and Noninterest Income Growth
Asset quality remained strong with nonperforming assets at $5.7 million and noninterest income grew 26% during 2024 compared to 2023. Mortgage banking income increased 62% and service charges grew 38%.
Securities Portfolio Growth
Interest income on securities increased due to growth in the securities portfolio and a higher interest rate environment.
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MBWM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MBWM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 21, 2025 | $44.21 | $46.76 | +5.77% |
| Oct 15, 2024 | $43.09 | $44.27 | +2.74% |
| Jul 16, 2024 | $43.45 | $48.69 | +12.06% |
| Apr 16, 2024 | $34.59 | $33.30 | -3.73% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mercantile Bank Corp. (MBWM) report earnings?
Mercantile Bank Corp. (MBWM) is schdueled to report earning on Jan 21, 2025, TBA Not Confirmed.
What is Mercantile Bank Corp. (MBWM) earnings time?
Mercantile Bank Corp. (MBWM) earnings time is at Jan 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MBWM EPS forecast?
MBWM EPS forecast for the fiscal quarter 2025 (Q1) is 1.19.
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