Mercantile Bank Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total interest income of $29,715,000 compared to $28,576,000 a year ago. Net interest income was $26,435,000 compared to $25,659,000 a year ago. Income before federal income tax expense was $12,045,000 compared to $9,108,000 a year ago. Net income was $8,085,000 or $0.49 per basic and diluted share compared to $6,480,000 or $0.40 per basic and diluted share a year ago. Return on average assets was 1.05% compared to 0.88% a year ago. Return on average equity was 9.35% compared to 7.79% a year ago. Net interest income after provision for loan losses was $25,835,000 compared to $25,159,000 a year ago.

For the year, the company reported total interest income of $118,457,000 compared to $112,328,000 a year ago. Net interest income was $105,867,000 compared to $101,174,000 a year ago. Income before federal income tax expense was $46,887,000 compared to $38,831,000 a year ago. Net income was $31,913,000 or $1.96 per basic and diluted share compared to $27,020,000 or $1.62 per diluted share a year ago. Return on average assets was 1.07% compared to 0.94% a year ago. Return on average equity was 9.35% compared to 8.19% a year ago. Net interest income after provision for loan losses was $102,967,000 compared to $102,174,000 a year ago. Book value per common share was $20.76 against $20.41 a year ago. Tangible book value per common share was $17.14 against $16.61 a year ago.

For the fourth quarter of 2016, net loan charge-offs was $165,000 against recoveries of $938,000 a year ago.