Mercantile Bank Corporation Reports Q3 Net Income of $23.8 Million
Reuters
Oct 21, 2025
Mercantile Bank Corporation Reports Q3 Net Income of $23.8 Million
Mercantile Bank Corporation reported net income of $23.8 million for the third quarter of 2025, compared with $19.6 million in the same period of 2024. Net income for the first nine months of 2025 totaled $65.9 million, up from $60.0 million for the first nine months of 2024. Return on average assets was 1.50 percent and return on average equity was 14.72 percent for the third quarter. Shareholders' equity reached $658 million as of September 30, 2025, increasing by $73.1 million from December 31, 2024. The total risk-based capital ratio was 14.3 percent at the end of the third quarter, compared to 13.9 percent at year-end 2024. As of September 30, 2025, the company had approximately $236 million in excess of the 10 percent minimum regulatory threshold for well-capitalized institutions.
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