Mercantile Bank reports Q1 EPS $1.21 vs. $1.34 last year

Reports Q1 tangible book value per share $34.42. Reports Q1 CET1 capital ratio 10.9%. “We are pleased to report sustained strength in financial metrics during the first quarter of 2025. We believe these results continue to evidence our ability to effectively manage challenges emanating from ongoing uncertain economic and operating environments,” said Ray Reitsma, president and CEO of Mercantile. “The strong operating performance reflected net interest income expansion, a steadying net interest margin, higher levels of treasury management, mortgage banking, and payroll service income, and continuing strength in asset quality metrics. Notably, net growth in various local deposit relationships and newly established deposit relationships substantially offset customary seasonal deposit withdrawals, and we remain committed to lowering our loan-to-deposit ratio through local deposit generation.”