Mercantile Bank Shares Rise on 4Q Revenue Growth, Dividend Bump

Dow Jones

2025/01/22

By Katherine Hamilton

Mercantile Bank shares rose Tuesday after the bank recorded revenue growth for its fourth quarter and initiated a higher quarterly dividend.

The stock advanced 3% to $45.61. It is up 11% over the past 12 months.

The Grand Rapids, Mich.-based bank said fourth-quarter profit was $19.6 million, or $1.22 a share, down from $20 million, or $1.25 a share, in the same period of 2023. Quarterly revenue rose about 2.8% to $58.5 million.

Mercantile's annual revenue rose about 2.6% in all of 2024 to $231 million, up from $226 million in 2023. Its annual profit fell to about $79.6 million, down from $82.2 million in 2023.

Local deposits grew more than 20% in 2024, which helped fund loan growth and reduce wholesale funding sources, Chief Executive Ray Reitsma said. This helped the bank in its effort to lower its loan-to-deposit ratio, which rose from 2021 to 2023 as deposits shrank following the Covid-19 pandemic.

Noninterest income for 2024 grew 26% year over year due to increases in income from mortgage banking, service charges and payroll services.

The company's board also said it would initiate a quarterly dividend of 37 cents, which would be an annual yield of about 3.3% based on Friday's closing price of $44.21. The dividend will be payable on March 19 to shareholders of record as of March 7. The new dividend is a 2.8% increase from the previous quarter.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 21, 2025 12:44 ET (17:44 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

應版權方要求，你需要登入查看該內容

登入 / 註冊

免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。

熱議股票

1
2
3
4
5
6
7
8
9
10

{"basename":"/hant","ssrTDKData":{"titleTemplate":"%s - 老虎證券","title":"澳洲华人首选美澳港股一站式交易平台 | 老虎证券","description":"澳、美、港、A股、ETF、期权一站式在线交易，超低佣金，新手也能轻松开启投资。在老虎证券， 1 美元起投资美股，24/5 无时差交易美股，澳大利亚华人信赖的在线炒股平台。","keywords":"老虎证券,老虎证券澳洲,老虎证券股票,老虎证券开户,老虎证券app,tigertrade老虎证券,股票,asx美股,炒股,券商,澳洲股票交易,澳大利亚炒股","social":{"ogDescription":"澳、美、港、A股、ETF、期权一站式在线交易，超低佣金，新手也能轻松开启投资。在老虎证券， 1 美元起投资美股，24/5 无时差交易美股，澳大利亚华人信赖的在线炒股平台。","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/hant/news/2505204744"},"companyName":"老虎證券"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"AUS","license":"TBAU","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2505204744\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2505204744?lang=zh_TW&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-01-22 01:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2505204744","market":"sg","top_or_hot":-1,"title":"Mercantile Bank Shares Rise on 4Q Revenue Growth, Dividend Bump","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Katherine Hamilton \n</p>\n<pre>\n \n</pre>\n<p>\n  Mercantile Bank shares rose Tuesday after the bank recorded revenue growth for its fourth quarter and initiated a higher quarterly dividend. \n</p>\n<p>\n  The stock advanced 3% to $45.61. It is up 11% over the past 12 months. \n</p>\n<p>\n  The Grand Rapids, Mich.-based bank said fourth-quarter profit was $19.6 million, or $1.22 a share, down from $20 million, or $1.25 a share, in the same period of 2023. Quarterly revenue rose about 2.8% to $58.5 million. \n</p>\n<p>\n  Mercantile's annual revenue rose about 2.6% in all of 2024 to $231 million, up from $226 million in 2023. Its annual profit fell to about $79.6 million, down from $82.2 million in 2023. \n</p>\n<p>\n  Local deposits grew more than 20% in 2024, which helped fund loan growth and reduce wholesale funding sources, Chief Executive Ray Reitsma said. This helped the bank in its effort to lower its loan-to-deposit ratio, which rose from 2021 to 2023 as deposits shrank following the Covid-19 pandemic. \n</p>\n<p>\n  Noninterest income for 2024 grew 26% year over year due to increases in income from mortgage banking, service charges and payroll services. \n</p>\n<p>\n  The company's board also said it would initiate a quarterly dividend of 37 cents, which would be an annual yield of about 3.3% based on Friday's closing price of $44.21. The dividend will be payable on March 19 to shareholders of record as of March 7. The new dividend is a 2.8% increase from the previous quarter. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 21, 2025 12:44 ET (17:44 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mercantile Bank Shares Rise on 4Q Revenue Growth, Dividend Bump</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMercantile Bank Shares Rise on 4Q Revenue Growth, Dividend Bump\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time smaller\">2025-01-22 01:44</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Katherine Hamilton \n</p>\n<pre>\n \n</pre>\n<p>\n  Mercantile Bank shares rose Tuesday after the bank recorded revenue growth for its fourth quarter and initiated a higher quarterly dividend. \n</p>\n<p>\n  The stock advanced 3% to $45.61. It is up 11% over the past 12 months. \n</p>\n<p>\n  The Grand Rapids, Mich.-based bank said fourth-quarter profit was $19.6 million, or $1.22 a share, down from $20 million, or $1.25 a share, in the same period of 2023. Quarterly revenue rose about 2.8% to $58.5 million. \n</p>\n<p>\n  Mercantile's annual revenue rose about 2.6% in all of 2024 to $231 million, up from $226 million in 2023. Its annual profit fell to about $79.6 million, down from $82.2 million in 2023. \n</p>\n<p>\n  Local deposits grew more than 20% in 2024, which helped fund loan growth and reduce wholesale funding sources, Chief Executive Ray Reitsma said. This helped the bank in its effort to lower its loan-to-deposit ratio, which rose from 2021 to 2023 as deposits shrank following the Covid-19 pandemic. \n</p>\n<p>\n  Noninterest income for 2024 grew 26% year over year due to increases in income from mortgage banking, service charges and payroll services. \n</p>\n<p>\n  The company's board also said it would initiate a quarterly dividend of 37 cents, which would be an annual yield of about 3.3% based on Friday's closing price of $44.21. The dividend will be payable on March 19 to shareholders of record as of March 7. The new dividend is a 2.8% increase from the previous quarter. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 21, 2025 12:44 ET (17:44 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MBWM","symbol_name":"莫肯特爾銀行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2505204744","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505204744","pubTimestamp":1737481440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Mercantile Bank shares rose Tuesday after the bank recorded revenue growth for its fourth quarter and initiated a higher quarterly dividend.The stock advanced 3% to $45.61. It is up 11% over the past 12 months.The Grand Rapids, Mich.-based bank said fourth-quarter profit was $19.6 million, or $1.22 a share, down from $20 million, or $1.25 a share, in the same period of 2023. Quarterly revenue rose about 2.8% to $58.5 million.Mercantile's annual revenue rose about 2.6% in all of 2024 to $231 million, up from $226 million in 2023. Its annual profit fell to about $79.6 million, down from $82.2 million in 2023.The company's board also said it would initiate a quarterly dividend of 37 cents, which would be an annual yield of about 3.3% based on Friday's closing price of $44.21. The dividend will be payable on March 19 to shareholders of record as of March 7. The new dividend is a 2.8% increase from the previous quarter.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MBWM":"莫肯特尔银行"},"translate_title":"商业银行股价因第四季度收入增长和股息增加而上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MBWM":1},"content_text":"By Katherine Hamilton \n\n\n \n\n\n  Mercantile Bank shares rose Tuesday after the bank recorded revenue growth for its fourth quarter and initiated a higher quarterly dividend. \n\n\n  The stock advanced 3% to $45.61. It is up 11% over the past 12 months. \n\n\n  The Grand Rapids, Mich.-based bank said fourth-quarter profit was $19.6 million, or $1.22 a share, down from $20 million, or $1.25 a share, in the same period of 2023. Quarterly revenue rose about 2.8% to $58.5 million. \n\n\n  Mercantile's annual revenue rose about 2.6% in all of 2024 to $231 million, up from $226 million in 2023. Its annual profit fell to about $79.6 million, down from $82.2 million in 2023. \n\n\n  Local deposits grew more than 20% in 2024, which helped fund loan growth and reduce wholesale funding sources, Chief Executive Ray Reitsma said. This helped the bank in its effort to lower its loan-to-deposit ratio, which rose from 2021 to 2023 as deposits shrank following the Covid-19 pandemic. \n\n\n  Noninterest income for 2024 grew 26% year over year due to increases in income from mortgage banking, service charges and payroll services. \n\n\n  The company's board also said it would initiate a quarterly dividend of 37 cents, which would be an annual yield of about 3.3% based on Friday's closing price of $44.21. The dividend will be payable on March 19 to shareholders of record as of March 7. The new dividend is a 2.8% increase from the previous quarter. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 21, 2025 12:44 ET (17:44 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}