Mercantile Bank reports Q2 EPS $1.39, consensus $1.25

Reports Q2 tangible book value per share $35.82. Reports Q2 CET1 capital ratio 10.9%. “We once again reported solid quarterly financial results despite uncertain macro-economic conditions throughout the second quarter of 2025,” said Ray Reitsma, president and CEO of Mercantile. “Our strong operating performance reflected net interest income growth, a stabilizing and healthy net interest margin, noteworthy increases in core noninterest income revenue streams, a significant decline in federal income tax expense, robust commercial loan expansion, and sustained strength in asset quality metrics and capital levels. We remain steadfast in our efforts to lower our loan-to-deposit ratio through local deposit generation, including the expansion of existing deposit relationships and new client acquisition. Our partnership with Eastern Michigan Financial Corporation will enhance our Bank’s position as the largest bank founded, headquartered, and operated in the State of Michigan and help us achieve certain strategic goals, including lowering our loan-to-deposit ratio, strengthening our on-balance sheet liquidity, and expanding our footprint in Eastern and Southeastern Michigan.”