Mercantile Bank Corp. (NASDAQ:MBWM) Q1 2019 Earnings Conference Call - Final Transcript

Apr 16, 2019 • 10:00 am ET


Mercantile Bank Corp. (NASDAQ:MBWM) Q1 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good morning, and welcome to the Mercantile Bank Corporation First Quarter 2019 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 to now turn the conference over to Mike Houston of Investor Relations. Please go ahead.

Mike Houston

Thank you, Lisa. 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 first quarter 2019. I'm Mike Houston with Lambert IR, Mercantile's Investor Relations firm. And joining me today are members of their Management Team, including Bob Kaminski, President and Chief Executive Officer; Chuck Christmas, Executive Vice President and Chief Financial Officer; Ray Reitsma, President of Mercantile Bank, Michigan; and Bob Worthington, SVP, Chief Operating Officer and General Counsel.

We'll begin the call with Management's prepared remarks and then open the call up to questions. However, before we begin today's call, 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 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 press release issued by Mercantile today, you can access it at the Company's website,

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

Robert B. Kaminski Jr.

Thank you, Mike, and good morning, everyone. Thank you all for joining us today. On the call, we'll provide an update on our overall performance and financial results along with our key areas of strategic focus. We'll also discuss loan development, growth initiatives and asset quality. Afterwards, we will open the call for a Q&A session.

We're very pleased with our start to 2019 with continued strength and core profitability and loan originations. The first quarter operating results represent a continuation of the robust performance delivered in 2018, which is supported by healthy loan pipelines, improved operating performance and balance sheet growth. This was evident in solid net revenue growth, a strong net interest margin, increased fee income and controlled overhead costs.

Our emphasis on building and cultivating value added relationships continues to successfully attract new customers as well as retain existing clients. Relationship building is also important in the area of talent acquisition, and with that, we're pleased to add some experienced lenders to both the commercial and retail functions of the Bank. Based on our sound financial condition and healthier loan pipelines, we remain confident in our ability to take advantage of opportunities for growth within our markets and deliver solid operating results through the remainder of 2019.