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(RTTNews) - Mercantile Bank Corporation (MBWM) reported net income of $21.6 million, or $1.34 per share, for the first quarter of 2024, compared with net income of $21.0 million, or $1.31 per share, a year ago. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.14, for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $58.2 million, up 5.2 percent, from $55.3 million during the prior-year first quarter. Analysts on average had estimated $55.38 million in revenue.

Mercantile Bank also announced that its Board of Directors declared a regular quarterly cash dividend of $0.35 per common share, payable on June 19, 2024, to holders of record as of June 7, 2024.

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