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Mercantile Bank Corporation net income $6.5 million

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Staff writer ▼ | January 19, 2016
Mercantile Bank Corporation, the bank holding company for Mercantile Bank of Michigan, reported net income of $6.5 million, or $0.40 per diluted share, for the fourth quarter of 2015.
Mercantile Bank
Mercantile Bank Corporation   $0.40 per diluted share
Results reflect the integration of Mercantile and Firstbank Corporation.
This compares with net income of $6.3 million, or $0.37 per diluted share, for the prior-year period. For the full year 2015, Mercantile reported net income of $27.0 million, or $1.62 per diluted share, compared with net income of $17.3 million, or $1.28 per diluted share, for the full year 2014.

Results in 2014 reflect the integration of Mercantile and Firstbank Corporation, which merged on June 1, 2014, including consolidated operating results for the combined businesses from the date of merger.

Results for the fourth quarter of 2014 include $0.4 million in pre-tax merger-related costs. On an after-tax basis, these costs were $0.2 million, or $0.01 per diluted share. Results for the full year 2014 include $5.4 million in pre-tax merger-related costs. On an after-tax basis, these costs were $3.8 million, or $0.28 per diluted share.


 

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