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Mercantile Bank Corporation Q2 net income $11.7 million

Christian Fernsby ▼ | July 22, 2020
Mercantile Bank Corporation reported net income of $8.7 million compared with net income of $11.7 million for the respective prior year period.
Mercantile Bank Corporation
Mercantile Bank Corporation   Total revenue was $41.6 million
Total revenue, which consists of net interest income and noninterest income, was $41.6 million during the second quarter of 2020, up $4.1 million, or 11.0 percent, from the prior-year second quarter.

Topics: Mercantile Bank Corporation

Net interest income during the second quarter of 2020 was $30.6 million, down $0.5 million, or 1.8 percent, from the second quarter of 2019, reflecting a decreased net interest margin, which more than offset the positive impact of earning asset growth.

The net interest margin was 3.17 percent in the second quarter of 2020, compared to 3.79 percent in the second quarter of 2019.