On July 11, Mercantile Bank
- Net earnings fell by 56.5%, largely because of a near-doubling of non-performing assets.
- On the bright side, Mercantile's loans increased 6.6% year over year. Yippee.
- Mercantile carries the lowest Motley Fool CAPS rating available: one star. Misery loves company, though, and it's no surprise to find competitors Fifth Third Bancorp
(NASDAQ:FITB) and Macatawa Bank(NASDAQ:MCBC) similarly sporting bottom-rung one-star ratings.
(Figures in thousands, except per-share data)
Income Statement Highlights
Q2 2007 |
Q2 2006 |
Change |
|
---|---|---|---|
Total Revenue* |
$15,369 |
$16,900 |
(9.2%) |
Net Interest Income |
$13,948 |
$15,646 |
(10.9%) |
Net Profit |
$2,221 |
$5,111 |
(56.5%) |
EPS |
$0.26 |
$0.60 |
(56.7%) |
Get back to basics with a look at the income statement.
Ratio Checkup
Q2 2007 |
Q2 2006 |
Change* |
|
---|---|---|---|
Net Interest Margin |
2.9% |
3.5% |
(0.6%) |
Efficiency Ratio |
65.3% |
47.5% |
17.9% |
Nonperforming Assets/Assets |
1.1% |
0.4% |
0.7% |
Return on Average Assets |
0.4% |
1.1% |
(0.6%) |
Return on Average Equity |
5.1% |
12.8% |
(7.7%) |
Find out more about bank performance ratios.
Balance Sheet Highlights
Assets |
Q2 2007 |
Q2 2006 |
Change |
---|---|---|---|
Investments |
$251,000 |
$271,000 |
(7.4%) |
Loans |
$1,776,026 |
$1,670,471 |
6.3% |
Liabilities |
Q2 2007 |
Q2 2006 |
Change |
---|---|---|---|
Deposits |
$1,639,010 |
$1,547,912 |
5.9% |
Total Liabilities |
$1,928,989 |
$1,807,769 |
6.7% |
Learn about bank assets and bank liabilities.
Related Foolishness:
- Money in the US Bancorp
- Fifth Third Hopes to Turn the Corner
- Northern Trust's Streak as a Steward Continues
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.