NASDAQ$MBWM
Mercantile Bank Corporation · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported a net income increase, driven by substantial growth in net interest income and continued loan growth.
Mercantile Bank Corporation reported a net income of $16.0 million, or $1.01 per diluted share, for the third quarter of 2022, compared with net income of $15.1 million, or $0.95 per diluted share, for the respective prior-year period. The increase was driven by substantial growth in net interest income and continued loan growth, which offset a decline in mortgage banking income.
- Net interest income increased significantly due to net interest margin expansion and loan growth.
- Key fee income categories experienced notable increases.
- Commercial loan and residential mortgage loan growth was substantial.
- Asset quality metrics remained strong with a low level of nonperforming assets.
Headline financials
Revenue & EPS history
Mercantile Bank · Revenue · Quarterly
$49.6M
Revenue by segment
Mercantile Bank · $14.3M total across 1 segment · Q4 2020
- Mortgage banking$14.3M+95.9%100.0%
Forward guidance
Mercantile Bank anticipates further growth in net interest income as the FOMC is expected to continue to raise interest rates. The bank believes it is well-positioned to withstand the negative impacts of a weakened economic environment due to its financial strength, asset quality, operating performance, and loan origination opportunities.
Tailwinds
- Further FOMC rate hikes may augment net interest income.
- Considerable loan origination opportunities exist.
- Solid capital levels.
- Outstanding asset quality metrics.
- Robust operating performance.
Headwinds
- Potential negative impacts associated with a likely weakened economic environment.
- Elevated levels of inflation.
- Unfavorable labor market conditions.
- Ongoing supply chain issues.
- Higher residential mortgage loan interest rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.8%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+2.9%
Avg return
30 days after
55%
36 / 66 earnings
Positive
+15.7%
Q2 2023
Best reaction
-12.5%
Q2 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.7% | -5.0% | -1.5% | |
| Q4 2025 | +0.8% | +1.8% | +6.8% | |
| Q3 2025 | +0.6% | +2.1% | -1.2% | |
| Q2 2025 | -0.0% | -0.4% | +1.2% | |
| Q1 2025 | +3.5% | +3.9% | +10.0% | |
| Q4 2024 | +9.7% | +11.3% | +9.6% | |
| Q3 2024 | +7.0% | +4.6% | +13.9% | |
| Q2 2024 | +12.2% | +8.7% | -2.8% | |
| Q1 2024 | -5.2% | +1.7% | +12.7% | |
| Q4 2023 | +0.4% | +3.2% | +2.9% | |
| Q3 2023 | +5.2% | +2.1% | +17.2% | |
| Q2 2023 | +15.7% | +14.8% | +14.6% | |
| Q1 2023 | -2.2% | -2.5% | -10.2% | |
| Q4 2022 | -5.3% | -4.9% | -1.0% | |
| Q3 2022 | +2.4% | -0.1% | +6.7% | |
| Q2 2022 | +5.0% | +4.7% | +14.2% | |
| Q1 2022 | +1.5% | -2.7% | -12.2% | |
| Q4 2021 | +3.3% | +1.4% | -0.3% | |
| Q3 2021 | +5.9% | +5.6% | +8.5% | |
| Q2 2021 | +5.4% | +5.8% | +6.9% | |
| Q1 2021 | -2.3% | -0.6% | -1.7% | |
| Q4 2020 | -0.2% | +2.0% | +0.9% | |
| Q3 2020 | +4.7% | +13.5% | +12.3% | |
| Q2 2020 | +4.9% | +6.9% | +0.4% | |
| Q1 2020 | -2.8% | -0.4% | -2.1% | |
| Q4 2019 | -1.8% | -4.0% | -7.2% | |
| Q3 2019 | +5.9% | +6.1% | +8.2% | |
| Q2 2019 | -0.1% | +0.3% | -2.6% | |
| Q1 2019 | +0.1% | -0.9% | -1.3% | |
| Q4 2018 | +6.0% | +6.8% | +10.0% | |
| Q3 2018 | -0.3% | -3.5% | -0.1% | |
| Q2 2018 | -2.9% | -2.3% | -4.3% | |
| Q1 2018 | +2.0% | +2.5% | +4.2% | |
| Q4 2017 | -2.7% | -2.6% | -7.3% | |
| Q3 2017 | +6.0% | +5.2% | -0.5% | |
| Q2 2017 | +0.3% | -0.3% | -4.5% | |
| Q1 2017 | +0.5% | +2.8% | -4.0% | |
| Q4 2016 | -9.0% | -10.5% | -9.0% | |
| Q3 2016 | +3.8% | +3.5% | +23.8% | |
| Q2 2016 | -0.0% | -0.2% | +3.3% | |
| Q1 2016 | +12.0% | — | — | |
| Q4 2015 | -0.9% | — | — | |
| Q3 2015 | -0.0% | — | — | |
| Q2 2015 | -3.7% | — | — | |
| Q1 2015 | +1.0% | — | — | |
| Q4 2014 | -5.5% | — | — | |
| Q3 2014 | -1.6% | — | — | |
| Q2 2014 | -3.1% | — | — | |
| Q1 2014 | -4.2% | — | — | |
| Q4 2013 | +6.4% | — | — | |
| Q3 2013 | +4.6% | — | — | |
| Q2 2013 | +2.8% | — | — | |
| Q1 2013 | +0.2% | — | — | |
| Q1 2010 | -2.7% | — | — | |
| Q4 2012 | +0.4% | — | — | |
| Q3 2012 | -4.8% | — | — | |
| Q2 2012 | -0.3% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2009 | -1.3% | — | — | |
| Q4 2011 | -1.3% | — | — | |
| Q4 2010 | -1.3% | — | — | |
| Q3 2011 | +2.4% | — | — | |
| Q3 2010 | +2.4% | — | — | |
| Q2 2010 | -12.5% | — | — | |
| Q2 2011 | -12.5% | — | — |
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