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Click on individual bank names in the table below to access American Banker's coverage of each company's earnings report. Links to relevant coverage, filings, releases, and bank benchmark profile data can be found in the Related Links area of each article.
January 19
Mercantile Bank Corp. in Grand Rapids reported Tuesday that it swung to a fourth-quarter loss of $26.4 million, from a profit of $300,000 a year earlier.
The loss to shareholders was $3.11 a share, compared with earnings of 4 cents a share in the 2008 quarter.
The $1.9 billion-asset company also announced Tuesday that on March 10 it would pay a dividend of 1 cent.
The fourth-quarter results included a one-time tax charge of $19.7 million.
At the end of December, Mercantile's nonperforming assets were $112 million, or 5.8% of total assets.
That was a 30-basis-point increase from Sept. 30 and a 320-basis-point increase from Dec. 31, 2008.
The company set aside $15.3 million for loan losses, compared with a $4 million provision in the fourth quarter of 2008.
Mercantile reported capital ratios well above regulatory minimums for being considered a well-capitalized institution.
It reported a Tier 1 leverage ratio of 9.14%, a Tier 1 risk-based ratio of 10.43%, and a total risk-based ratio of 11.70%.