Mercantile Bank Corporation (NASDAQ:MBWM) Q4 2023 Earnings Conference Call January 16, 2024 10:00 AM ET

Company Participants

Zack Mukewa - IR, Lambert Global

Robert Kaminski - President & CEO

Raymond Reitsma - COO & President of the Bank

Charles Christmas - EVP & CFO

Conference Call Participants

Daniel Tamayo - Raymond James

Erik Zwick - Hovde Group

Damon DelMonte - KBW

Operator

Good morning, and welcome to the Mercantile Bank Corporation Fourth Quarter 2023 Earnings Results Conference Call. All participants will be in listen-only mode. [Operator Instructions]. After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would like now to turn the conference over to Zack Mukewa, Lambert Investor Relations. Please go ahead.

Zack Mukewa

Thanks, Ed. Good morning, everyone, and thank you for joining Mercantile Bank Corporation's conference call and webcast to discuss the company's financial results for the fourth quarter of 2023. Joining me today are members of Mercantile's management team, including Bob Kaminski, President and Chief Executive Officer; Chuck Christmas, Executive Vice President, and Chief Financial Officer; and Ray Reitsma, Chief Operating Officer and President of the Bank. We will begin the call with management's prepared remarks and presentation to review the quarter's results, then open the call to questions.

Before turning the call over to management, it is my responsibility to inform you that this call may involve certain forward-looking statements such as projections of revenue, earnings, and capital structure, as well as statements on the plans and objectives of the company's business. The company's actual results could differ materially from any forward-looking statements made today, due to the factors described in the company's latest Securities and Exchange Commission's filings. The company assumes no obligation to update any forward-looking statements made during the call. If anyone does not already have a copy of the fourth quarter 2023 press release and presentation deck issued by Mercantile today, you can access it at the company's website at www.mercbank.com.

At this time, I would like to turn the call over to Mercantile's President and Chief Executive Officer, Bob Kaminski. Bob?

Robert Kaminski

Thank you, Zach, and thanks to all of you for joining us on the conference call today. This morning, Mercantile released its fourth quarter and full year earnings, which demonstrated a strong finish to 2023. For the quarter, Mercantile earned $1.25 per share on revenues of $57 million. For the full year our company earned $5.13 per share on revenues of $226 million. We also announced a cash dividend of $0.35 per share payable on March 13, 2024.