Mercantile Bank Corporation (NASDAQ:MBWM) unveiled its third quarter earnings results on Tuesday 20th October 2020 before market open.
Mercantile Bank Corporation unveiled quarterly income of $ 0.66 per share, from the revenue of $ 42.82 million
The consensus estimate are $ 0.42 income per share from revenues of $ 39.41 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.24 or 57.14 percent, where as revenues outshined analysts estimates by $ 3.41 million or 8.65 percent.
On the other hand, The quarterly earnings dropped 14.29 percent compared with the same quarter last year, at the same time revenues improved 32.65 percent versus third quarter of last year.
Robert B. Kaminski, Jr., President and Chief Executive Officer of Mercantile, said, In light of the challenging operating environment created by the ongoing COVID-19 pandemic, we are pleased with our overall financial performance during the third quarter of 2020. We have implemented strategic initiatives to address the identifiable impacts of the pandemic, and we will continue to focus on appropriately planning for potential future risks posed by it.
