Mercantile Bank Q1 EPS Beats $0.20

Mercantile Bank Corp reported Q1 2026 adjusted EPS $1.46, beating consensus $1.26 by $0.20.
GAAP EPS $1.32 topped estimates by $0.06; revenue $67.59M edged consensus $67.41M, up 18.1% YoY.
Net interest income rose 15.1% YoY to $55.9M; noninterest income surged 34.3% to $11.7M; NIM improved to 3.55%.
Total assets $6.95B, deposits grew 14.6% annualized, loan‑to‑deposit ratio improved to 89%, nonperforming assets 0.1%.