The bank delivered adjusted earnings of $1.53 per share during the quarter, ahead of consensus projections by $0.21 compared with earnings of $1.32 per share expected by analysts.
Revenue for the quarter came in at $68.76 million, below analyst expectations by $50.00 thousand compared with estimates of $68.81 million.
The firm posted improved year-over-year results, reporting a 10.1 percent increase in earnings and a 12.8 percent rise in revenue.
Ray Reitsma, President and Chief Executive Officer of Mercantile said: “We are very pleased to report another quarter of strong financial performance as we continue to successfully navigate our way through the extended and ongoing period of uncertain global economic conditions and heightened geopolitical concerns.”
