Mercantile Bank Q2 Provisions For Credit Losses $3.5M Vs. $2.0M YoY
Portfolio Pulse from Benzinga Newsdesk
Mercantile Bank reported an increase in provisions for credit losses to $3.5 million in Q2 2024, up from $2.0 million in Q2 2023.
July 16, 2024 | 9:08 am
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Mercantile Bank's provisions for credit losses increased to $3.5 million in Q2 2024 from $2.0 million in Q2 2023, indicating a rise in potential credit risk.
The increase in provisions for credit losses suggests that Mercantile Bank is anticipating higher credit risk, which could negatively impact investor sentiment and the stock price in the short term.
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