This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mercantile Bank Corporation Added To Russell 2000 Index

GRAND RAPIDS, Mich., June 25, 2012 /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") today announced it has been added to the Russell 3000 ® Index and Russell 2000 ® Index when Russell Investments ("Russell") reconstituted its comprehensive set of U.S. and global equity indexes on June 22, 2012.

"We are pleased to be added to the Russell 2000, which marks yet another milestone to a list of significant achievements for the Company in the past 18 months and reflects our continued positive momentum and efforts to increase shareholder value," commented Michael Price, Chairman and CEO of Mercantile Bank Corporation.  "We expect our inclusion will raise our profile and generate greater interest in our stock at an institutional investor level."



Mercantile reported 192 percent growth in pre-tax earnings in the first quarter of 2012 compared to the prior-year first quarter. In addition, the Company reported continued improvement in asset quality and achieved a record net interest margin in the first quarter of 2012. Mercantile also recently announced it has exited the TARP program after it repurchased the remaining 50 percent of the $21 million in non-voting preferred stock issued to the U.S. Department of the Treasury.

Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies.  In the institutional marketplace, an industry-leading $3.9 trillion in assets currently are benchmarked to them.  The Company will hold its membership until Russell reconstitutes its indexes in June 2013.

The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization.  The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs