MBWM - Earnings call transcript Q1 2018 | Mercantile Bank Corporation

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day and welcome to the Mercantile Bank Corporation’s First Quarter 2018 Conference Call and Webcast. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Mr. Mike Houston, Lambert, Edwards and Associates. ahead. go Please

Mike Houston

XXXX. Good me Mercantile Debbie. Michigan; discuss and you Relations quarter thank company’s ‎Lambert, Houston Thank Mercantile’s Edwards, Corporation’s morning, conference joining Investor of Chief first Chief Chuck Christmas, the Bank, Executive Bank today are team results And Bob to am call management for of Mike Officer; the financial and Ray with including Bob President joining President Vice Executive Operating you, and firm. for Financial everyone I Senior members of and Kaminski, Officer; the Reitsma, webcast President Counsel. President, and and Officer Worthington, Vice Mercantile Chief General

the We and management’s open call remarks questions. prepared with will the begin then to call up

it plans differ may factors Company’s the of this is well the President revenue, you call Mercantile’s at this Bob? time, At to www.mercbank.com. the that certain involve filings. call, during important already Chief of I latest earnings update Bob obligation assumes company forward-looking statements the access as described release to as today’s issued on any inform website and to today, company’s does any press objectives responsibility can today begin the projections to call like made and no turn have my as Commission statements, the the Exchange anyone business. The we If you copy the made call. Securities from forward-looking at to it statements Executive would such not Kaminski. and a of Officer, Mercantile materially company’s company’s structure by and due before capital statements could in results actual forward-looking However,

Bob Kaminski

joining and good thank and us. morning for Mike you, Thank all you everyone

details development, On the provide provide and Chuck followed our performance, will CFO, I update initiatives Christmas loan an will our by call Q&A. on financial asset overall and growth quality results on today,

net Ray our success net Reitsma, interest evident Mercantile today first our was joined Operating areas lower overhead certain XXXX. a cost also General continued the to favorable Worthington, and our as and interest tax by delivered the full corporate initiatives quarter Chief year. and President income we and said, the Officer income margin, were particular, performance of in quality. of Mike commercial on interest of also Bob robust during strategic federal on This focus of Results and loans let forward asset strategic the controlled environment, strong quarter the As collection a and sound in rate. the highlight look and by rate interest non-performing call several more me In are Reflecting we Counsel. supported

of reflecting the margins level We net healthy beyond. will areas remained interest and the margin throughout During our focus ongoing these at quarter, continued two healthy prudent loan underwriting. believe of to lead balance pricing a and XXXX

offerings banking expectations. to payroll forward credit in service below continued during momentum of ahead gains beyond. XX%. in the income debit of generating and of non-interest build production to card revenue quarter-over-quarter slightly We We these was products then and and service of interchange look XXXX is growth last revenue additional XX% remainder our year Mortgage with and in

tight all-time pre-qualification direct and the levels activity sales of for high of market, million, funded $XXX already constrained primary the of sale first Commercial XXXX and XXXX. relationship totaled result efforts. has is consistent performance being by homes an during level current a with loans new building ongoing very of purchase the clients quarter our which and the increased nearly While for our doubling activity a of in are inventory at quarter

of during amount quality the million net level to of quarter portfolio of the assets in residential million, in by was preservation mortgage by total high overall payoffs in comparable portfolio commercial primarily loans of growth and to $X and commercial quarter, consumer our credit first customers. by sales million. a the $X contracted due This contraction the offset contracted During related $XX unusually $XX the first portfolio an million totaling

momentum of We to strength currently are our our projects pleased loan stands $XXX the pipelines with and continuing XXXX in at million. the construction fund that commitments

We expect course over growth term to the loan expand see resume year. of the and

total reflected $X.X the performance during non-performing million quality were strong at asset X.X% Our metrics March assets or quarter. once of Total portfolio assets. first XX again

internal driven to relatively volume. Our by on diligently during the portfolio level signs stress. lenders growth. number quarter the increased local loans deposits of have first loan Total nominal monitor past and our continued searching in The remained consistent deposit for remains loan and of dollar $XX watchlists, management relationships potential due and million

deposits the Our relative end. to broker prior unchanged were quarter

contracted pattern. pleased million and quarter continued of driven total It funds decreased bearing with million success seasonal are the with prior in local new mainly loan as relationships the We base. funds XX% consistent is various the was wholesale funding account commercial growth first Borrowed deposits. to and to by the comprise deposit quarter account $XX our Non-interest during it relative the checking to initiatives. $XX of

in growth our priority. Continued deposits local strategic the is

Chuck. us over year relationships continue the results of concludes during and building has will growth. in the to turn prior support year coupled continues my with quarter real gives Turning the remarks developing trends our XXXX and financial our favorable focus and Michigan continued, beyond. These current conditions I employment markets improved to achieved estate trend in the the compared the first to value that economy, That and in our end confidence lines on end markets positive it primary strong the to added will

Chuck Christmas

increased of we per first good successful $X.XX income while This bank certain diluted The per life owned quarter $X.XX to million net diluted Thanks share XXXX income the quarter million during $XX.X Bob net the claim to XXXX quarter per increased reported during problem insurance income $X.X or XXXX or by approximately announced of of quarter first share or of $X.X by of the of income and or per million net share. million morning first $X.XX morning $X.X diluted everybody. diluted reported commercial the the loan share compared first collection net approximately relationships $X.XX for during XXXX. of

from a Excluding the January jobs $X.XX the our to share XXXX of result year XX% also rate prior earnings act. enactment income during or XX% the of the benefited per diluted the compared cuts effective federal in quarter lowered impacts – quarter. increased X to income and was as from of year which a tax Net tax during XX% of reduction quarter these during first the first transaction current first first

during Our first quarter XX% XXXX first quarter of about was compared to tax the XXXX. rate almost effective of XX% during the

believe have shareholders. condition of we very We to for remained take earnings advantage performance delivering are and financial and with and well positioned results market our opportunities lending pleased our consistent while

interest an the compared the to quarter during quarter. of fourth previous net was X.XX% X.XX% first about Our average during margin

on FOMC, that earning yield on in the several collection In Reserve on X completed Bank added addition balance assets the resulted impacted about efforts to ongoing of basis was just first of XX quarter benefits on level commercial assets. impacted during liquidity assets from positively by quarter the from Chicago our Conversely, on higher basis relationships. These the interest on the deposit income of effort recording sheet hikes of lending yield successful negatively first recent than problem our earning the rate Federal consisting earning monies approximately desired points yield they by are points. excess to of a

was of our for Excluding factors, XXXX quarter the the first margin impacts interest of about net these particular X.XX%.

during in accretion Our provided million cost time efforts, of of market quarter guidance and part impaired of primarily as approximately January. assets to we XXXX principal was first interest loans. points certain the borrowed level interest payments interest reflecting loan funds on in aforementioned loans XXXX certain basis recorded the collection XX compared of CRE rates in expected of than $X.X during a increase conference The points rate the is XXXX. earning million accounts, call environment. increase the of average from income funds deposits of the to million reflection that deposit of our purchased and the higher on The owed the received collected recorded the purchased XX increased majority on We whereby percent in first basis reflects on $X.X quarter during quarter money large first CRE pooled and in increased $X.X

a purchased our impaired into XXXX. mode As late during reminder, CRE recovery pool went

but As all instead no record recent currently on most income. a the by million in totaling be expect principal pool, will borrowers income made purchased payment $X.X of in during minimum accretion expect purchased forecast as on loans, receive result periods, payments income XXXX, quarterly rest interest X, million in interest loans our starting XXXX. flow valuation on are $X.X on a Based recorded loans future this neatly longer We again to pooled upon is January interest CRE further and income impaired we to of recorded on receipt. as cash which recorded about

of in interest range forecast We X.XX% changes LIBOR remainder expect the throughout This our XXXX. be further assumes X.XX% to to in the net margin and rates. of the no prime

the quarter. first the recorded increasing provision unchanged improved net interest nonperforming an in strong million in of equals in We quality charge-offs. a during total XX with We $X.X remains quarter margin no first assets Our of the recorded The loan portfolio of $X.X basis part of to an of and assets million. as quarter reflecting with end our continued loan continued a assets rate the measurement rate loan points of during interest loan low relatively net only environment. totaling loan the balance. charge-offs levels interest recovery as Non-performing recovery reflect very percent first large net aforementioned expense total overall

provision reflecting quarterly the of to net expect We large XXXX record forecasted million $X.X during remainder in part to of million loan expense $X.X growth.

of of claim or first basis and during reserve fee quarter first originated coverage level mortgage $X.X quarter adjusted category expected of in during no We recorded a ratio quarters loss $X.X steady We remained $X.X virtually significant at total end of income except many to least remainder the loans. for the million at $XX the banking. loan compared of first million. increases quarter income of of for has recorded XXXX. BOLI points are non-interest for This every million XXXX XXXX totaled Our the changes the million XX

sale impacting the the new volume. inventory noted, loan listed our is of low in markets, and has is As new Western Michigan for home our area already loan throughout Bob mortgage especially negatively

million $X.X forecast increases We million million recorded million compared For then $X.X effective during Expected remainder quarter-over-quarter. non-interest non-interest non-interest XXXX. salary of XXXX quarter $X.X currently $XX.X the and million $X.X of third Currently, quarter first forecast total million we the cost the $X.X we in of during remain between remainder first between million million of $XX.X tax quarter, a the during of majority the total with organization. and to expense million the our to during income increase quarter. million during remaining to of quarter fourth benefit $X.X XXXX, second the the to XX%. $XX.X the about We rate the banking during to to comprised $XX.X XXXX and quarterly well-capitalized expense

dollars now As risk-based bank’s million total turn was end, remarks. over capital back to the call prepared $XX was Bob. approximately than to quarter my Those higher I our of are as will well in minimum required be categorized capitalized. ratio the XX.X% XX% and

Bob Kaminski

At will questions. now Chuck. you, point, this take we your Thank

Operator

Brendan first with & comes The Nosal from question Instructions] Sandler [Operator Partners. O’Neill

Brendan Nosal

the on the the a margin, been want off margin excess about your you year? liquidity now, into start the how how to just three into think that just come of the X.XX quarters the can for and has impacting the that sense excess kind guidance get over to back couple margin of of the of want margin liquidity quarters for ties of X.XX next rest Just to much

Chuck Christmas

be question. Chuck. We fundings. expectations. resumption put liquidity that have going we work to going monies at of net Fed Yes. growth of loan the got This the think and Most assumes through during that to Good our excess this quarter typical in will we that a loan are is more

we releasing. already We this funding also have quarter some are that wholesale maturities

that through loan excess our that liquidity think I quarter. will So again growth patterns towards assuming the resume middle be this of

that second during liquidity how forecasted my assumes that as the excess are margin at one As the far margin we of quarter. levels the impacts

Brendan Nosal

loan ties your into pay-downs million thoughts loan very at that’s of growth you then remaining on originations, for quarter, throughout but more that the year growth were ago helpful. this competitive how similar, great, high are $XXX more Alright, are pretty so your commercial there million originations pressures, believe just looking and commentary And $XXX strong, just the seeing increasing year? the one up how optimistic I seeing and you more remainder in quarter,

Bob Kaminski

is Well, Bob. this

in calls, hard would but don’t we those, advance and million do as pipeline. we time customers. Those off combination the As talked continued in usually our the of or I of in unpredictable the paid status traded of the assets mentioned get predict that by from a notice certainly about my are and kind comments very being excited but we have $XX had the far fortunately about are rest bunch pay-outs we that quarter, prior are this too loans non-performing from was But a watchlist much dealt some happen time. to we to they currently as of had amount of and strong

XX that constructions comments, to will of months. loans XX fund next our we And about then customers in the $XXX committed of by funding very million mentioned remains strong. we the over I accepted pipeline As months got my

said fundings seen the with So we past have in very been as what you consistent our have quarters.

quarter asset If getting payout, strong back will the from the you nice concentrated certainly customers we those for year. happen, watchlist very rest [indiscernible] continued happen the year. fortunate so not payout, we those time are last look for forward. go consistent to go, pipeline by we certainly going that for heavily the to to – customers environment, but going couple continue goes, but their expect The of are been seem has be and time this again those But the they see wildcard this companies in in to to on buildings years, but we especially funding or prices of and of first sales

Brendan Nosal

pull-through same just can the the year kind see remainder but numbers I the hit of said to And those expenses suggested, you quarter probably for of guidance of little you the a run guys the helpful. first that the sneak just of higher year that there, than one a of little that’s were the more this expected Alright, in offered previously, expenses bit was you in a had some with later earlier? bit is rate quarter kind

Bob Kaminski

to to about to as some are size right $XXX,XXX in our negotiate we to those think going probably and I needed had using we properties, just related be balances the no we $XXX,XXX in one-time expenses operations longer we sales.

good we sales of are feel and the look here we properties forward And really balances so quarter to about where next. this those those now and

And any But we those so first our an so as the about people effective our we salary some don’t of that some call there little to as the expect making those. in further now, we be X, investments quarter costs of especially have associated will with taken on. well on folks, talked going that of portion as bit especially those April are offset our hourly a communities,

future kind was there in through we the some that quarters. multiple through quarter a see it’s first won’t of the items one-time So going

Brendan Nosal

question it. guys. Thanks Got for taking my

Bob Kaminski

you. Thank

Operator

Reevey is Davidson. D.A. Next with Kevin

Kevin Reevey

Good morning, gentlemen.

Bob Kaminski

Kevin. morning, Good

Kevin Reevey

How be your Fed impact talk in Chuck, the of can continues borrowers their about looks continuing unemployment in on low levels core a kind talent to of many terms to commercial finding like historical So, you grow are lot to having of your businesses? rate either markets, of it is or negative any Bob and if a you?

Bob Kaminski

Kevin. Yes,

footprint, our market, of very type facing about previously, businesses full it’s employment a economy it’s tight As affecting all in talked everybody, you job situation.

we because and staff tight have other to and get some it’s we to some a the the them to our generated staff a on it that been some our other keep our to trying a some rate that such is to having with certainly situation our competitors a with intact. – employees problem said as have person tax and the communities, increases board. in the our that’s you on once and keep to from give try to to our competitive goal have But savings we of and job talked decrease to areas, to great market have proactive So, hire clients, is to early why board talk be need of proactive person that have same everybody

to news economy of creating And of well. a The are very kind of doing good news, the little with but at bit be through it’s we So, it’s seems that working bad situation. employment standpoint, Michigan challenge it. situation,

exciting I We we have to got our very a think got great a and staff selective recruiting new trying are bank the about have process and in very bring into tell. staff story to we

competitive So, are a is we situation. very doing there, it job good but a job

Chuck Christmas

they us those customers one impact are of really in for us done, additional going the ask one it have to and some us purchasing but extra the two that just I and to that folks Chuck, are there of that and and that ways to quite issues stories haven’t the with talked we loan to hopefully for people or don’t businesses, is look some equipment. this couple order is I of few a we working is around kind quite obviously staffing as is businesses one of or Yes, I some new to businesses add different but a heard through will recession out have demand could that the that of comments as is help order a heard come at how things an looking be at productivity lending equipment productivities this increased of try increase storytelling, impact I have of offset great Kevin, to starting hire is that’s to to the it’s really starting equipment Obviously, having for. new that something few stories they increase that to have

are about efficient. discussion more next the quarters that’s to more and to hear going more over or and years, but out going next few equipment few So, and productive, we that’s new becoming out buying some starting something more play

Kevin Reevey

particularly shortage from Western And the outside Michigan is mortgage of assume going market, the is of growth Michigan lack come given to inventory? is – it of your bulk to of inventory, the that the the banking to then on mortgage that going housing in banking side safe Western given

Bob Kaminski

I answer that Go Ray ahead, question. Ray. will let

Ray Reitsma

is the have to look exists, away markets, market refinance we would firm at purchased able as I as can that. to we into reposition that to from the and there Kevin, key but different market been say Yes. that not do

pre-qualifications that able to feel those West two share we so away share. reap in will our market be there garner are that we confident market. our we between from that online, And high, facts, refi it’s so important successfully come as more the the purchased will Michigan be Our we repositioned very of market units have to through

Bob Kaminski

spring. pipeline very thing, mortgage seasonal now and as The April mid Yes. is into of right doesn’t obviously into but of head the nicely we further very type the part a

up a to but we people once have for lined very and roast their very are taking customers I great within a see are desolate that’s even is no to situation, to going place question as higher. don’t that about it’s though deal the qualification are to to happy think little they are buy, looking said, a it, Bank. Ray that competitive once being is We loans buy there they that’s good find rates of bit people so Mercantile from find there. growth how home want they And got high a

Kevin Reevey

other income, at to your last products? of was growth to – much fee looking one existing we I were was you going of then basic growth certain customer last quarter you be how cross-selling versus know had some that some from linked re-pricing And in there your talked, question, base nice

Chuck Christmas

growth customers. you this saw Kevin, existing is quarter A from the is in majority and new from new vast Chuck. first what Yes, of

certain into to and in We literally put effect, is second are increases some starting on as price of but the that happening products part speak we quarter.

first what growth for in quarter us. So the new you saw is

Kevin Reevey

you. Great. Thank

Bob Kaminski

Thanks Kevin.

Operator

with is [Operator Damon Instructions] Next DelMonte KBW.

Damon DelMonte

you guys, how today? are morning doing good Hey,

Bob Kaminski

Good morning Damon.

Damon DelMonte

morning. Good

seeing I single-digits you the now up and upper ratcheted what mid guys that regarding growth, still based question what year based first you quarter, little are to get you optimistic a bit? comfortable can the loan relatively level that you XXXX, think down first full are guys in my on Just to happened for were or for that on has

Bob Kaminski

assuming that Bob, watchlist feel think terms I the control the for the in of see I think with is go provided. payoffs, of have funding this that quite we will normal still pattern we consistent those loans a we have with comfortable comfortable loan up, very payout we overall guidance established year. objectives numbers can’t sporadic to we I we the but – have have more Again, think necessarily think the I are as

Damon DelMonte

think…? fee And you the could Okay. then Chuck income expectations repeat that I just

Chuck Christmas

quarter $X.X really And what the well, the quarter be million we So obviously quarter. third and $X.X the for the which first banking million. second second to actually for both in is from as have and that’s quarter tends the million $X.X million to first $X.X mortgage to for quarter best

Damon DelMonte

expansion helpful. guess you. on efforts going are Michigan the right And that’s then little Thank Southeast now? alright, I a us could in just Okay, how you update give

Bob Kaminski

the is the is they suburbs, bank that some them there this contributing and overall ground fashion. do to very we getting in and Detroit a so of the for are the to this and continuing office profitability established opportunities well, line expectations area nice of The great very Yes, in down Bob.

Damon DelMonte

great. Okay,

and think you. been all other answered. asked my have Thank I questions

Bob Kaminski

Damon. Thanks

Operator

Next Cardenas is James. from Daniel Raymond

Daniel Cardenas

Good morning guys.

Bob Kaminski

Dan. Hi

Daniel Cardenas

I can Just is high you as how internal questions, guys XX% a and think remind approximately funds, at are to number an looking you do total wholesale like that to you quick you your that would am there of in couple go cap will of hit as percentage, funding XXXX? us you cap

Bob Kaminski

we don’t we policy think that will hitting Our is internal in XXXX. XX%. maximum or be cap And amount

a and relatively then will quarter flat. bit the reduction of we see think a in actually stay here little I second

on stay So basis throughout XX% right I probably will rounded XXXX. around that think we a

Daniel Cardenas

are a side? maybe pressures the seeing competitive deposit now what maybe then with funding some And great. movements color base on bit and on the betas, most on rate Okay, of you right deposit little color recent on

Bob Kaminski

and never few is There sheet through on the of of pressures that’s you I wane. balance will competitive both the a to always going bring sides Sure. products.

I most couple – price side public not are million say competitive been so we as have out quarters of in right intense on for think that XX the checking more also in accounts The unit pretty last letting competition competitive on CDs especially unit, and I thing has higher are now. so the the that larger we is CD very, there would for the some of is public and on and very XX the we especially we side excess the months, helping intense but on it well. the relationships more, some CDs competition months and last municipals. the But go, to good very liquidity, so intense dollars, dollars the very, for especially have that’s

raising, that but as are CDs degree the little Fed more has I to that we competition XX rates We increasing and months last Fed months of in is general would the last intense. seen the have getting seeing the to been for has quarters raised rates, couple And individuals the more steadily. is a bit those say CDs, XX rates competition on has been businesses. not Everybody raising pretty

touch weeks we raised On first non-time the this of rates market the to rates. had stuff, after couple money the time past it’s our Fed

since are those rates has looking look And raising account haven’t to environments. we touch yet. interest-bearing little Obviously, and a did checking where at savings interest bit. That touched those the first started in is every have fed we we at to we had on we week so competitive regards our time rate, always are touch the that

there in that that one-third goal unions, banks are especially the credit stay very the those certainly compete side. banks we always with. all Certainly, retail of that Our top the very, competitive, we is is on

also that as appropriate on we we to number in be the return our but make don’t our one, loan in side, drive So, are we for that in top-third only – our rates we offering always margin not well be fair the sense. to that and ever an our sure But side we styles. that and the always want doesn’t deposit can depositors that relationships are of competitive as strive comfortable be produce making

So, least it raise at of looks like year. to the this another Fed times going couple is

continue at deposit to we just so keep those rates and we far. every we been go that’s where on here, eye see where like So, but week will an from have things do

Daniel Cardenas

of then your great. little to to? non-interest bit was in a quarter Okay, drop as deposits, the color sequential And bearing attributable maybe what that

Bob Kaminski

always we first down. Yes, in that quarter see the

We borrowers have commercial of as in as first taxes the a lot bonuses. month are paying well that

So, those we to relationships. cycle we loans bring really then make also that started that’s continue first for and the also over we reduction in for as we very, kind built customers in in months that us good to of from over and over, see that but there seasonal get very X and we growth when remaining there, quarter especially through seeing our up those the go C&I new

with to in some continue hidden nice relationships see checking bit quarter a the being little We bearing gets bonus account those new and funded. payment. It tax just non-interest first

Daniel Cardenas

loan the equity portfolio, we basis look on additional up shrinkage continued consumer to going to or and home just forward? Okay, we the as to on quick think can And loan, then reduction plateau, the even on a kind of do great. expect build questions on begin couple see go maybe a you forward of that’s

Bob Kaminski

portfolio million, of the pretty million year is to continues one this on $X reduction through is which all is that think Yes, did $XX and home big end loans, the Consumer obviously We of from a million very quarter. about that the big That’s a I to equity at the that’s hard home $XXX,XXX the biggest reduce The forecast question number of unknown and biggest what’s going $XX outstanding. see that. the a the so. probably equity there. part by is to portion end not probably of or quarter go the

are We not consumer most products. of out our there like

type borrowers We our there existing blasting like an of that accommodative stuff depositors. specials and more for existing and product out it’s are not our

your lines credit to go answer a really as long existing we is what question depends short the think give is kind on answer those do of I of it So, you they forward?

Daniel Cardenas

And on color maybe last those fair how utilizations, Okay, to stay enough. time compared looking this then are line some year?

Bob Kaminski

Yes, They the at We they drop XX:XX are about saw and quarter beginning that the are actually of the third in now. around same. the fourth right quarter. right

are are I XX% to we XX:XX usage, back about we of maybe right right into XX% down but now. up around think kind

Daniel Cardenas

Okay, back. step guys. Thanks, great. I will

Bob Kaminski

Dan. Thanks,

Operator

Kevin Hovde is Next Group. Swanson with

Kevin Swanson

thoughts level in you just update the I past high, in Can morning. is make the reform? $XX on a your the changed tax given bit just sure us but Good has thinking mentioned you too buyback, think

Bob Kaminski

question. Yes, great it’s a

too little the and matter haven’t reengaged $X.XX, almost average are a years any was $X.XX, over standpoint $XX, X still a we We is actually day. in fact as we buying $X.XX $X.XX $XX We stock. that average. did think of what that night now. multiple depending X, trading around $XX at ago of I right nice book all a little buyback from high. price are on on years X closer a We are It’s stock some seeing the bit to last staff right back the XX, been now trading buybacks

rich bit little a it’s right So now.

we would say left in closer see drop-off and do that existing been have we back, to that. what if line metric you buying to go sand, before have monies put And we to it not but probably to ahead that reengage, to but closer peers the a want do want so $X.XX the

Kevin Swanson

of reform the turning fee forward mentioned investment now? people the about then of through going did to orderly businesses kind expense any And the impacts the think significant in thanks. you investments even increase wage or tax on you of in side Okay,

Bob Kaminski

So pretty the first we to with are the right tax for rate a are the that in getting that or but with taking swing degree. compensation. are raise obviously sure always decisions Obviously, employees that always a changed make We including employees many we comfortable I anything looking are on, respects big care pay all of some to of hourly well took our our we at made think pretty announcements now going earlier and whether quarter. is we has else the

effective going got – X have That forward. April XXX(k) we for increased we some was match. everybody Here our

way help our giving. XXXX loan in are income homeowners that are first retail always also of the folks. together time investments our to maybe also budget some can maybe some in throws packages and final we even type at putting We we moderate type as charitable improvement for communities, increased programs for low right looking some a In loans home

work ongoing what from to planned that But have are services communities meet we that how those communities, and the anything working offer always ago, we are we to and things So organizations at products basis. that within the folks looking an at on what at the those needs, the significantly of that our with can of needs listening we at needs their communities. in months three But least the we types don’t those next doing are quarters. are best and look are of announced least what try we those the different of couple

Kevin Swanson

questions. my taking for Thanks great. Okay,

Bob Kaminski

you, Thank Kevin.

Operator

to turn concludes This over the Kaminski closing I question-and-answer like our to session. conference remarks. any for back Bob would

Bob Kaminski

and Yes. forward We your you. you now call to you at again in This Thanks to look is our for the second Debbie company. Thank talking interest quarter. ended. thank

Operator

The conference presentation. for concluded. Thank today’s you now attending is

disconnect. now may You

Mercantile Bank (MBWM) 17 Apr 182018 Q1 Earnings call transcript