Market Signal Briefing

XRP falls to $1.93 after rejecting $2, while weekly MACD tightens. Analysts watch $1.90 support and $2.05 reclaim.

Ripple’s native cross-border token has dropped to $1.93 after failing to hold above the $2. In the short term, the price action is moving to the downside, but some technical indicators could change the trend in the future.

XRP Stalls Below $2 as Support Shifts XRP lost momentum after a brief move above $2. Sellers stepped in quickly, pushing the asset down and clearing recent gains. Former support at $2 has turned into resistance, now capping upside moves.

XRP is holding around $1.93, with $1.90 acting as a nearby support level. Failure in that area could lead to additional losses. Bulls would consider a stable movement past $ 2.05 as an important milestone to recover.

Meanwhile, the MACD on the weekly chart is showing signs of compression. Histogram bars are fading, and the two lines are drawing closer. This pattern often appears before a crossover. Traders view this as a signal that momentum could shift in the coming weeks. A technical analyst known as ChartNerd shared,

“$XRP could be a few weeks away from forming a bullish cross on its weekly MACD and breaking its descending resistance.”

XRP Price Chart 1.20. Source: ChartNerd/X Historical data shows that similar crossovers have led to strong upward moves. Despite this, XRP continues to trade below its long-term descending trendline. The line has been respected for months, and the price has yet to close above it. A confirmed breakout above this trendline would be needed for any push toward the $2.50 zone.

Analysts Warn of Weak Buyer Support Earlier this month, XRP reached a two-month high of $2.41. The move represented a 30% gain from the start of the year but did not hold. Market analyst Dom said the rise lacked strong buyer activity.

“The orderflow analysis showed no strong buyer support and rather a push that was possible due to low liquidity,” he explained.

Since then, XRP has dropped 18% from that peak. Dom also noted that XRP has tested the $1.80 area three times, which he described as a final possible support structure. A move below this zone may trigger deeper losses. To stabilize, the asset must rise and remain above $2.05.

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Hoskinson ranted for about 30 minutes in a YouTube stream on Sunday, criticizing the US crypto policy and industry peers who supported it, including Ripple CEO Brad Garlinghouse.

Cardano’s market mood flipped bearish on Monday and took the token to a 2% price slump following a brief rally that almost took it back to its 30-day high.

The comments from founder Charles Hoskinson telling off Garlinghouse and proponents of the CLARITY Act sparked bullish chatter on social media heading into this business week, according to social metrics platform Santiment.

Hoskinson’s YouTube interview rattles bulls periodically, ADA now trading red Santiment Feed’s analysis showed a spike in positive commentary around ADA before, during, and after the broadcast. There were 29 bullish posts for every bearish one shortly after the interview aired, which took Cardano just $0.01 shy of $0.40. 

📊 There was a massive spike in bullish sentiment toward Cardano yesterday, followed by an immediate price drop. This was related to founder Charles Hoskinson's interview where he, among other topics:

📌 Expressed his concerns over the CLARITY Act
📌 Criticized Ripple CEO Brad… pic.twitter.com/7xVFbTcdtf

— Santiment (@santimentfeed) January 19, 2026

Monday’s wave of price losses washed away most of the profits that top market cap coins had collected over the weekend, but ADA was still counting wins. However, the dark cloud finally caught up to the token, causing an intraday 2.38% price dip as of the time of this reporting. The token was changing hands around $0.35 and is down 8% over the past seven days, per Coingecko data.

ADA had dropped to a low of $0.3355 in December. However, since then, the token has failed several times to flip the $0.4 resistance level, which is in line with an ascending trendline connecting the lowest price swings since June 2023. 

Hoskinson was highly critical of the CLARITY Act, saying the bill was deeply flawed even with its 137 revisions and that its structure favors regulators at the expense of developers and users. According to the Ethereum developer, the legislation would still grant excessive authority to the SEC, just like the previous administration had set it to be.

As reported by Cryptopolitan, the Senate Banking Committee postponed a planned markup session on the CLARITY Act last week after Coinbase Chief Executive Brian Armstrong withdrew his support for the bill. Chairman Tim Scott said last Wednesday that the panel would delay consideration of the bill to have more discussions with lawmakers and industry stakeholders.

Drawing a historical comparison, he cited the Securities Exchange Act of 1933 as an example of a law that hasn’t been changed for decades. “93 years later, have we been able to change it? No. You pass it, you own it forever. Sorry, Brad. It’s not better than chaos,” he surmised.

Taking a dig at Garlinghouse’s public support for passing the proposed legislation, Hoskinson argued that taking a compromise would entrench regulatory overreach into crypto businesses. 

“You still got people like Brad saying, well, it’s not perfect, but we just got to get something. Hand it to the same people who sued us. That’s better?” he detracted.

Does the Trump government have too much control over crypto?  Away from the regulatory disputes, Hoskinson admitted he was on good terms with the Trump administration because he “signed up for freedom” and “a revolution.” However, he blasted the policymakers for trying to make “everything a custodial wallet” and “every transaction KYC.” 

During a separate interview last week, the Input Output Group CEO insisted the current administration has placed the US digital asset industry in a worse position than it was under former President Joe Biden. 

“The very first thing he did was to launch the Trump Coin, and it just felt like the extractiveness has now been institutionalized. The US government is participating in it as opposed to some Pump.fun person.” 

Hoskinson propounded that Trump’s and Melania Trump’s memecoins launch undermined the possibility of bipartisan cooperation on crypto policy in 2025. He believes Congress might have passed both the GENIUS Act and the CLARITY Act before the tokens debuted in markets.

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The Litecoin price has seen its fair share of volatility and corrections over the past few weeks. Despite the downtrend, a crypto analyst has forecasted that LTC could be laying the groundwork for another explosive rally. He has shared a detailed technical analysis and price chart explaining why he believes Litecoin could eventually flip into a bullish position. 

Litecoin may be positioning itself for another powerful rally, as its market structure remains broadly intact. According to a recent analysis from market expert The Penguin (@ThePenguinXBT), LTC’s structure continues to point toward much higher price levels, with recent volatility and declines doing little to change the overall macro outlook. 

Litecoin Price Gets Ready For Explosive Rally Sharing a 4-hour price chart, The Penguin gave a detailed breakdown of why he believes Litecoin is preparing for another price surge. He explained that LTC has now swept the October 10 wick, a key technical move that could signal the end of downside liquidity grabs. At the same time, the chart shows a completed five-wave move lower into what appears to be the final leg of Litecoin’s correction. 

Related Reading: Why The Litecoin Price Could Stage A 33% Rally To $110

The Penguin noted that LTC’s price had earlier stabilized within a clear horizontal range, then briefly dipped below it and quickly reclaimed that level. This rebound took place near the lower support zone around $70, where a sharp sell-off was met with strong buying pressure. As a result, price action formed a rounded recovery from the recent low, which the analyst identified as Litecoin’s final corrective wave. 

Source: Chart from The Penguin on X According to The Penguin, the internal structure of Litecoin’s recent move suggests two things: the final correction has been completed, or there might be one last marginal low for LTC. Either way, he emphasized that the broader setup remains strongly bullish.

The Penguin has projected that once Litecoin begins its next impulsive move, it could become difficult for the price to be pushed back into previous trading ranges. From the rounded recovery line, the chart points toward a potential move to $82. The analyst has also highlighted an upper blue resistance line above $86 as an additional upside target. If the chart setup plays out as expected, Litecoin could see its price skyrocket by more than 17% from current levels around $70.   

Analyst Sets Ambitious $1,600 Price Target For LTC In a more recent analysis, The Penguin shared a new chart suggesting that Litecoin could be gearing up for a dramatic price rally. The chart highlights a key descending triangle pattern, traditionally known as a bearish continuation signal, especially when it forms after a downtrend. 

According to the analyst, Litecoin is attempting to break out of a multi-year descending triangle on its weekly chart, signaling the potential end of its consolidation and the start of a new bullish phase. Once this happens, The Penguin predicts that the cryptocurrency could embark on a sharp vertical rally toward $1,600. 

LTC trading at $69 on the 1D chart | Source: LTCUSDT on Tradingview.com Featured image from Adobe Stock, chart from Tradingview.com

Journalist

Posted: January 20, 2026

Quant [QNT] recorded a significant gain on the daily chart since its price broke out of a bullish pennant consolidation pattern after filling a market imbalance at $78 just five days ago.

At press time, Quant’s price had climbed sharply by recording a daily gain of nearly 8%.

The move also followed a decisive breakout above the 20-day and 50-day exponential moving averages, a technical shift that often marks a change in short-term trend direction.

Source: TradingView

Launchpad for further price rallies? At the time of writing, QNT was trading above both EMA levels. This positioning is key. If the token prices manage to hold strong above key moving averages, those levels could turn into support.

In Quant’s situation, the 20-day and 50-day EMAs are still holding strong, and they could now offer a potential solid foundation for a reversal attempt to take place.

Quant’s on-chain metrics lean bullish On-chain data appears to support this emerging strength. Quant’s daily transaction volume has risen notably, reaching 60,000 transactions over the past 24 hours, according to the recent reports.

Taken from the past, rising transaction activity mirrors an increased network engagement, which tends to align with QNT’s improving market sentiment during early trend shifts.

Source: Santiment

QNT: Long-term holder activity rises At the same time, exchange-related metrics aligned with the current bullish trend. The number of QNT withdrawals has dropped to its lowest level on record.

The altcoin has recorded only 24 transactions since the morning of the 20th of January to press time. This stands out as the lowest activity level ever recorded.

A decline in withdrawals often signals reduced selling pressure, as fewer tokens move toward exchanges.

That said, the token long-term holder sentiments remain positive, as most elite investors and traders are reinvesting their profits rather than withdrawing to exchanges.

Source: Santiment

All put together, long-term holders’ activity, a surge in the number of on-chain transactions, and positive technical indicators increase the likelihood of the bullish run continuing further in the long run.

Final Thoughts Quant continues its bullish momentum as its price still trades above 20-day and 50-day Exponential Moving Averages (EMAs). QNT on-chain activity strengthens as transaction volume rises and withdrawals fall to record lows.

WhiteWhale, a Solana-based meme coin, lost 60% of its value in minutes after its largest holder dumped $1.3M in tokens. The crash triggered rug pull allegations as the token plummeted from $200M to $20M market cap.

Newton Gitonga2 min read

20 January 2026, 11:30 AM

A Solana-based meme coin called WhiteWhale suffered a dramatic collapse on Monday, losing 60% of its market value within five minutes. The crash came after the project's largest holder sold $1.3 million worth of tokens in a single transaction.

The token, which launched three months ago on the Pump.fun platform, saw its market capitalization plummet from $200 million to approximately $80 million in rapid succession. Community members and observers quickly labeled the incident a potential rug pull.

Largest Holder Triggers Market PanicOn-chain data reveals the sell-off originated from WhiteWhale's biggest wallet holder. The sudden dump created immediate panic among investors who had no advance warning of the massive liquidation.

Market analyst Darky first brought attention to the crash on social media. According to his observations, the token dropped from a $200 million valuation to just $20 million in minutes. The speed and severity of the decline caught most holders off guard.

Early Trader Walks Away With Substantial ProfitsDespite widespread losses, at least one investor profited significantly from the WhiteWhale rally. A trader identified as "Remus" purchased 1.5% of the total token supply for just $370 during the early stages.

This position grew to a peak value of $1.2 million as the token gained popularity. Remus sold approximately $220,000 worth of tokens during Monday's crash. The timing of this sale contributed to the downward pressure on the token's price.

Blockchain records show Remus still holds nearly $1 million in WhiteWhale tokens. However, the current value of these holdings has diminished substantially following the crash.

The WhiteWhale community issued a statement attempting to reframe the incident. They described the event as a "planned liquidity event" designed to distribute token ownership and reduce concentration risks more evenly. This explanation has received skepticism from outside observers.

At the time of writing, the token showed signs of recovery. WhiteWhale climbed back to a $31.2 million market capitalization, with individual tokens trading at $0.03120. This represents a partial rebound but still reflects major losses from the pre-crash peak.

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Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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MemecoinLatest Solana (SOL) News Today

Trove’s TROVE crashes 95% as team pivots from Hyperliquid to Solana while keeping most ICO funds, sparking refund demands and legal threats.

Summary

Trove raised funds for a Hyperliquid-based perp DEX, then abruptly pivoted to Solana pre-TGE.​ Team kept most ICO proceeds for Solana development, offering only partial refunds.​ On-chain data and sale missteps fueled rug-pull accusations and calls for legal action. Trove Markets confirmed it will retain funds from a token sale originally marketed for integration with Hyperliquid, despite shifting its perpetual decentralized exchange to Solana days before its token launch, according to statements from the company.

TROVE token plunges 95% following launch The TROVE token plunged approximately 95% within minutes of trading launch, following the platform pivot announced shortly before the token generation event.

The company raised funds through a public token sale intended for building a perpetual decentralized exchange using Hyperliquid’s infrastructure. Days before the scheduled token generation event, the team announced a pivot to Solana, raising questions among contributors about the disposition of raised funds.

Trove stated it would retain a substantial portion of the proceeds to continue development on Solana, describing the decision as necessary to maintain product viability.

A Trove builder identified as Unwise attributed the pivot to the withdrawal of a key liquidity partner who had previously supported the Hyperliquid integration with a significant position, according to public statements. The team stated that without this support, continuing development on Hyperliquid was no longer feasible, prompting the decision to rebuild the perpetual exchange on Solana.

In social media statements, Trove acknowledged that its handling of the initial coin offering and subsequent decisions caused confusion and eroded trust among participants. The company stated it had issued refunds to some participants and planned additional automatic refunds. Remaining funds have been allocated or spent on developer salaries, frontend and backend infrastructure, a chief technology officer, advisory services, marketing, and operating costs, according to the company.

Some participants questioned the repurposing of funds raised specifically for Hyperliquid development. Critics called for refunds and raised the possibility of legal action.

On-chain analysis suggested a single entity appeared to control a notable portion of TROVE supply across multiple wallets funded through the same exchange within concentrated time periods, according to blockchain analysts. The analysis found no direct evidence linking the wallets to the Trove team, but noted the pattern warranted scrutiny regarding presale activity.

The controversy follows complications during the January initial coin offering. Trove initially announced the sale exceeded its target and committed to pro-rata refunds. The company then announced a five-day extension before reversing the decision hours later, citing an error.

HomeETFs and Funds AnalysisETF Analysis

SummaryRoundhill Magnificent Seven Covered Call ETF offers high monthly income by applying a covered call strategy to the Mag 7 tech stocks.Despite retail popularity, I am skeptical of MAGY's usefulness due to underperformance and questionable tax efficiency.If bullish on the Mag 7, direct ownership is preferable; if bearish, MAGY's structure fails to provide effective downside protection.I expect MAGY's underperformance relative to pure Mag 7 exposure to persist, making it an unattractive investment option.This idea was discussed in more depth with members of my private investing community, CEF/ETF Income Laboratory. Learn More »andresr/E+ via Getty Images

Main Thesis & Background The purpose of this article is to evaluate the Roundhill Magnificent Seven Covered Call ETF (MAGY) as an investment option. This is an actively managed fund with an objective to implement "a covered

Analyst’s Disclosure:I/we have a beneficial long position in the shares of QQQM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Board declares $0.39 regular quarterly cash dividend on common stock, resulting in a current annual yield of approximately 3.1% percent

, /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") announced today that on January 15, 2026, its Board of Directors declared a regular quarterly cash dividend of $0.39 per common share, payable on March 18, 2026, to holders of record as of March 6, 2026. The $0.39 cash dividend is 2.6 percent and 5.4 percent higher than the cash dividends paid during the fourth quarter and first quarter of 2025, respectively.

"As demonstrated by our Board of Directors' declaration of an increased first quarter regular cash dividend, we remain committed to enhancing shareholder value by means of worthwhile cash returns," said Ray Reitsma, President and Chief Executive Officer of Mercantile. "Our balance sheet structure, earnings performance, and asset quality metrics have remained strong during the protracted period of unclear macro-economic conditions, and we believe the current strength of our overall financial condition, coupled with the anticipated attainment of solid operating results in upcoming periods, should enable us to continue our regular cash dividend program while providing sufficient capital support for expected asset growth."

About Mercantile Bank Corporation

Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank and Eastern Michigan Bank. Mercantile Bank and Eastern Michigan Bank provide financial products and services in a professional and personalized manner designed to make banking easier for businesses, individuals, and governmental units. Distinguished by exceptional service, knowledgeable staff, and a commitment to the communities they serve, Mercantile Bank and Eastern Michigan Bank, as combined, comprise one of the largest Michigan-based banking organizations with total combined assets of approximately $6.8 billion. Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM." For more information about Mercantile, visit www.mercbank.com, and follow us on Facebook, Instagram, X (formerly Twitter) @MercBank, and LinkedIn @merc-bank.

Forward-Looking Statements

This news release contains statements or information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods. Any such statements are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in forward-looking statements. Factors that might cause such a difference include difficulties and delays in the integration of Mercantile and Eastern and achieving anticipated synergies, cost savings and other benefits from the transaction; changes in interest rates and interest rate relationships; increasing rates of inflation and slower growth rates or recession; significant declines in the value of commercial real estate; market volatility; demand for products and services; climate impacts; labor markets; the degree of competition by traditional and nontraditional financial services companies; changes in banking regulation or actions by bank regulators; changes in tax laws and other laws and regulations applicable to us; changes in prices, levies, and assessments; the impact of technological advances; potential cyber-attacks, information security breaches and other criminal activities; litigation liabilities; governmental and regulatory policy changes; the outcomes of existing or future contingencies; trends in customer behavior as well as their ability to repay loans; changes in local real estate values; damage to our reputation resulting from adverse publicity, regulatory actions, litigation, operational failures, and the failure to meet client expectations and other facts; changes in the national and local economies; unstable political and economic environments; disease outbreaks, such as the COVID-19 pandemic or similar public health threats, and measures implemented to combat them; and other factors, including those expressed as risk factors, disclosed from time to time in filings made by Mercantile with the Securities and Exchange Commission. Mercantile undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.

SOURCE Mercantile Bank Corporation

HomeStock IdeasQuick Picks & Lists

SummaryThe global AI market is projected to reach over $3 trillion by 2033, driven by growing investments from big tech, broader adoption, and booming data center requirements.Companies that provide AI software, hardware, and services are poised to exploit the megatrend and deliver significant profitable growth.AI stocks have outperformed over the past year, led by chipmakers, hyperscaler suppliers, and EV manufacturers.SA Quant identified 10 Strong Buy stocks riding the AI demand boom that showcase excellent investment fundamentals, including collective strengths across growth, profitability, and momentum.I am Steven Cress, Head of Quantitative Strategies at Seeking Alpha. I manage the quant ratings and factor grades on stocks and ETFs in Seeking Alpha Premium. I also lead Alpha Picks, which selects the two most attractive stocks to buy each month, and also determines when to sell them. Techa Tungateja/iStock via Getty Images

AI Demand Boom The global artificial intelligence market is expected to soar by a CAGR of 30.6% to exceed $3 trillion by 2033, fueled by big tech AI investments, broader adoption across industries, and an explosion

Analyst’s Disclosure:I/we have a beneficial long position in the shares of CLS either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given that any particular security, portfolio, transaction or investment strategy is suitable for any specific person. The author is not advising you personally concerning the nature, potential, value or suitability of any particular security or other matter. You alone are solely responsible for determining whether any investment, security or strategy, or any product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. Steven Cress is the Head of Quantitative Strategy at Seeking Alpha. Any views or opinions expressed herein may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

Toronto, Ontario – TheNewswire - January 20, 2026 – LAURION Mineral Exploration Inc. (TSX-V: LME | OTCQB: LMEFF | FSE: 5YD) (“LAURION” or the “Company”) is pleased to provide an update on its strategic positioning entering 2026, following a recent strategy session of the Company's Board of Directors. LAURION's primary focus for the year ahead is the advancement and further development of its flagship Ishkōday Project, with the objective of enhancing the positioning of the asset to support the Company's pursuit of strategic alternatives aimed at maximizing long‑term shareholder value. “Our focus has always been on advancing Ishkōday through disciplined, milestone-driven execution,” said Cynthia Le Sueur-Aquin, President and CEO of LAURION. “ This technical direction reflects my conviction that LAURION's strategy is sound, disciplined, and built to endure. We are no longer relying on the market to infer value — we are building it by translating technical progress and mineral property advancement into measurable project value. As the Company's largest shareholder, with my immediate family and I holding over 30 million shares, alignment with this approach matters deeply to me.”

A Leonardo logo is displayed above a stand on the first day of the Indo Pacific International Maritime Exposition in Sydney, Australia, November 4, 2025. REUTERS/Hollie Adams Purchase Licensing Rights, opens new tab

MILAN, Jan 20 (Reuters) - Leonardo's (LDOF.MI), opens new tab chairman on Tuesday rowed back on comments he made about a possible merger with Italian shipbuilder Fincantieri (FCT.MI), opens new tab, dismissing them as a light-hearted quip.

Stefano Pontecorvo floated the idea of a future combination between the two state-controlled groups at a business conference in Milan on Monday.

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The chair of the Italian defence and aerospace group was addressing an audience that included Claudio Cisilino, Fincantieri’s executive vice‑president for operations.

"I made a quip, in clearly joking tones, about a possible merger between Leonardo and Fincantieri," Pontecorvo, a retired career diplomat, said in a statement.

The remarks "do not reflect any hypothesis currently under consideration and there are no formal files or dossiers relating to potential industrial operations" between the two firms, he added.

Leonardo and Fincantieri cooperate on several programmes, but past discussions over deeper industrial integration have stalled amid political issues and diverging business priorities.

Reporting by Cristina Carlevaro, editing by Alvise Armellini

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Increases in net interest income and certain noninterest income categories, sustained strength in asset quality metrics and capital levels, and acquisition of Eastern Michigan Financial Corporation highlight the year

, /PRNewswire/ -- Mercantile Bank Corporation (NASDAQ: MBWM) ("Mercantile") reported net income of $22.8 million, or $1.40 per diluted share, for the fourth quarter of 2025, compared with net income of $19.6 million, or $1.22 per diluted share, for the respective prior-year period.  For the full-year 2025, Mercantile reported net income of $88.8 million, or $5.47 per diluted share, compared with net income of $79.6 million, or $4.93 per diluted share, for the full-year 2024.

"We are very pleased to report another year of solid financial performance amid the prolonged and continuing period of uncertain macro-economic conditions," said Ray Reitsma, President and Chief Executive Officer of Mercantile.  "Our robust financial results were driven by net interest income expansion, a steady net interest margin, notable increases in treasury management fees, mortgage banking income, and payroll services fees, a reduced provision for credit losses, lower federal income tax expense, solid local deposit growth, and ongoing strength in asset quality and capital measures.  We lowered our loan-to-deposit ratio through local deposit generation, and we will remain focused on building our local deposit base to fund anticipated asset growth.  We were also pleased to complete the acquisition of Eastern Michigan Financial Corporation on December 31, 2025, and look forward to working with our new colleagues to bring an expanded suite of financial solutions to clients and prospects in East and Southeast Michigan." 

Full-year highlights include:

Acquired Eastern Michigan Financial Corporation ("Eastern"), former holding company for Eastern Michigan Bank, which is headquartered in Croswell, Michigan, and had $572 million in total assets, further expanding Mercantile's presence in East and Southeast Michigan Return on average assets of 1.4 percent and return on average equity of 14.1 percent Tangible book value per common share of $36.78 as of December 31, 2025, up $3.64, or approximately 11 percent, since December 31, 2024 Net interest income growth of approximately 5 percent Steady net interest margin despite changing interest rate environment Notable increases in treasury management fees, mortgage banking income, and payroll services fees of approximately 11 percent, 6 percent, and 14 percent, respectively Substantial decline in effective tax rate from approximately 19 percent during 2024 to 14 percent during 2025 in part due to the acquisition of transferable energy credits and net benefits from investments in low income housing and historical tax credit structures Sustained strength in commercial loan pipeline Continuing low levels of nonperforming assets, past due loans, and loan charge-offs Noteworthy reduction in loan-to-deposit ratio from approximately 98 percent as of December 31, 2024, to approximately 95 percent as of December 31, 2025, primarily reflecting robust local deposit growth, with a further decline to 91 percent when considering the impact of the acquisition of Eastern Solid tangible and regulatory capital positions Contributed $1.1 million to The Mercantile Bank Foundation Operating Results

Net revenue, consisting of net interest income and noninterest income, was $62.1 million during the fourth quarter of 2025, up $3.6 million, or 6.0 percent, from $58.5 million during the prior-year fourth quarter.  Net interest income during the fourth quarter of 2025 was $51.0 million, up $2.6 million, or 5.5 percent, from $48.4 million during the respective 2024 period primarily due to growth in earning assets and a slightly higher net interest margin.  Noninterest income totaled $11.1 million during the fourth quarter of 2025, up $0.9 million, or 8.7 percent, from $10.2 million during the fourth quarter of 2024.  The increase in noninterest income mainly reflected higher levels of bank owned life insurance income and treasury management fees.

The net interest margin was 3.43 percent in the fourth quarter of 2025, up marginally from 3.41 percent in the prior-year fourth quarter.  The yield on average earning assets was 5.52 percent during the current-year fourth quarter, a decrease from 5.80 percent during the respective 2024 period.  The lower yield mainly stemmed from a reduced yield on loans and a change in earning asset mix, which more than offset an improved yield on securities resulting from the reinvestment of relatively low-yielding bonds and portfolio expansion activities.  The yield on loans was 6.12 percent during the fourth quarter of 2025, down from 6.38 percent during the fourth quarter of 2024, primarily due to lower interest rates on variable-rate commercial loans resulting from the Federal Open Market Committee ("FOMC") lowering the targeted federal funds rate.  The FOMC decreased the targeted federal funds rate by 25 basis points in each of November and December of 2024 and September, October, and December of 2025, during which time average variable-rate commercial loans represented approximately 75 percent of average total commercial loans.  Signifying the success of a strategic initiative to lower the loan-to-deposit ratio and increase on-balance sheet liquidity, higher-yielding loans represented a decreased percentage of earning assets and lower-yielding securities accounted for an increased percentage of earning assets in the fourth quarter of 2025 compared to the fourth quarter of 2024. The yield on securities equaled 2.96 percent during the fourth quarter of 2025, up from 2.54 percent during the prior-year fourth quarter.  

During the fourth quarter of 2025, the cost of funds was 2.09 percent, down from 2.39 percent during the fourth quarter of 2024, mainly due to lower rates paid on money market accounts and time deposits, reflecting the decreased interest rate environment from November of 2024 through December of 2025 corresponding with the FOMC's lowering of the targeted federal funds rate during the period.

Net revenue was $243 million during 2025, up $11.2 million, or 4.8 percent, from $231 million during 2024.  Net interest income totaled $201 million during 2025, up $10.0 million, or 5.2 percent, from $191 million during 2024 as growth in earning assets and a decreased cost of funds more than offset a lower yield on earning assets.  Noninterest income was $41.6 million during 2025, up $1.2 million, or 3.0 percent, from $40.4 million during 2024.  The increase in noninterest income primarily reflected higher levels of treasury management fees, bank owned life insurance income, mortgage banking income, and payroll services fees.

The net interest margin was 3.47 percent in 2025, down from 3.58 percent in 2024.  The yield on average earning assets was 5.69 percent during 2025, a decline from 6.01 percent during 2024.  The decreased yield resulted from a lower yield on loans, a change in earning asset mix, and a reduced yield on other interest-earning assets, which more than offset an improved yield on securities reflecting the reinvestment of relatively low-yielding bonds and portfolio growth activities. The yield on loans was 6.26 percent during 2025, down from 6.59 percent during 2024 largely due to reduced interest rates on variable-rate commercial loans stemming from the FOMC lowering the targeted federal funds rate by 50 basis points in September of 2024 and 25 basis points in each of November and December of 2024 and September, October, and December of 2025.  Higher-yielding loans accounted for a decreased percentage of earning assets and lower-yielding securities represented an increased percentage of earning assets in 2025 compared to 2024.  The decreased yield on other interest-earning assets during 2025 primarily reflected the lower interest rate environment.  The yield on securities equaled 2.86 percent during 2025, up from 2.29 percent during 2024. 

The cost of funds was 2.22 percent during 2025, down from 2.43 percent during 2024, mainly due to decreased rates paid on money market accounts and time deposits, reflecting the reduced interest rate environment that began in September of 2024 in conjunction with the FOMC's lowering of the targeted federal funds rate.

Mercantile recorded a negative provision for credit losses of $0.7 million during the fourth quarter of 2025, compared to a positive provision for credit losses of $1.5 million during the fourth quarter of 2024.  Positive provisions for credit losses of $3.2 million and $7.4 million were recorded during 2025 and 2024, respectively.  The negative provision expense recorded during the current-year fourth quarter mainly reflected improvements to the economic forecast and changes in loan mix, each of which decreased the calculated allowance by $0.3 million.  The provision expense recorded during 2025 primarily reflected a $1.9 million reserve increase related to changes in the economic forecast, a $1.8 million net increase in specific allocations driven by a $5.5 million allocation for a commercial construction loan relationship that was placed on nonaccrual during the second quarter of 2025, and a $1.5 million net increase in qualitative factor allocations.  The impacts of these factors were partially offset by $2.3 million and $1.3 million reductions in the reserve related to faster residential mortgage and consumer loan prepayment speeds and the associated reduced average lives of the portfolios and changes in baseline loss rates, respectively. 

Noninterest income totaled $11.1 million and $41.6 million during the fourth quarter of 2025 and full-year 2025, respectively, compared to $10.2 million and $40.4 million during the fourth quarter of 2024 and full-year 2024, respectively.  Noninterest income during the fourth quarter of 2025 and full-year 2025 included bank owned life insurance death benefit claims of $0.8 million and $1.0 million, respectively.  Noninterest income during all of 2024 included bank owned life insurance death benefit claims and gains on the sales of other real estate owned totaling $0.7 million and $0.4 million, respectively.  Excluding these transactions, noninterest income increased $0.1 million in the fourth quarter of 2025 compared to the prior-year fourth quarter and $1.3 million in 2025 compared to 2024.  The increased level of noninterest income in the fourth quarter of 2025 mainly reflected growth in treasury management fees, while the higher level of noninterest income during 2025 primarily reflected increased treasury management fees, mortgage banking income, and payroll services fees.  Growth in treasury management and payroll services fees mainly stemmed from new commercial relationships and successful marketing efforts leading to customers' expanded use of products and services.  The higher level of mortgage banking income primarily resulted from increased production and a heightened percentage of loans originated with the intent to sell.  Interest rate swap income declined during the fourth quarter of 2025 and full-year 2025 compared to the respective 2024 periods, generally reflecting a lower volume of new swap transactions.

Noninterest expense totaled $36.7 million and $136 million during the fourth quarter of 2025 and full-year 2025, respectively, compared to $33.8 million and $126 million during the fourth quarter of 2024 and full-year 2024, respectively.  The increases in noninterest expense during the 2025 periods primarily resulted from higher salary and benefit costs, mainly reflecting annual merit pay increases, market adjustments, and lower residential mortgage loan deferred salary costs, the recording of acquisition costs related to the Eastern acquisition, growth in data processing costs, and higher allocations to the reserve for unfunded loan commitments.

Federal income tax expense was $3.2 million during the fourth quarter of 2025, compared to $3.6 million during the respective 2024 period.  The $0.4 million decrease in federal income tax expense primarily resulted from the acquisition of transferable energy tax credits, which resulted in a net benefit of $1.0 million that was partially offset by a higher level of income before federal income tax.  Federal income tax expense totaled $14.7 million during 2025, compared to $18.7 million during 2024.  The acquisition of transferable energy tax credits and the net benefits from investments in low-income housing and historic tax credit structures provided for aggregate tax benefits of $3.5 million and $1.8 million, respectively, during 2025.  The recording of the tax benefits positively impacted Mercantile's effective tax rate, which equaled 14.2 percent during 2025, down from 19.0 percent during 2024.  Net benefits from investments in tax credit structures totaled $0.2 million during 2024.

Mr. Reitsma commented, "Growth in earning assets and a reduction in the cost of funds provided for a notable increase in net interest income during 2025 compared to 2024.  Reflecting our strategy to be interest rate agnostic, the net interest margin was stable throughout the year despite a changing interest rate environment.  We are pleased with the increases in net interest income, treasury management fees, mortgage banking income, and payroll services fees, along with the decline in federal income tax expense, during 2025 compared to 2024. We remain committed to expanding the balance sheet in a cost-efficient manner while continuing to provide our clients with exceptional service and a wide array of market-leading products and services to meet their needs."

Balance Sheet

As of December 31, 2025, total assets were $6.84 billion, up $783 million from December 31, 2024, reflecting pre-acquisition asset growth of $211 million and $572 million in assets added to the balance sheet in association with the acquisition of Eastern.  Total loans increased $221 million, or 4.8 percent, during 2025, reflecting pre-acquisition portfolio expansion of $17.4 million and $204 million in loans added to the portfolio as a result of the acquisition of Eastern.  Mercantile's pre-acquisition commercial loan portfolio grew $58.6 million, or nearly 2 percent.  Full payoffs and partial paydowns of certain larger relationships aggregated approximately $312 million during all of 2025, compared to about $194 million during all of 2024.  The payoffs and paydowns generally stemmed from sales of assets and customers using excess cash flows generated within their operations to make line of credit reductions.  Commercial loan originations, consisting of loans to new clients and expansions of existing credit relationships, remained solid across all segments during 2025.

During 2025, other consumer loans were up $46.5 million, reflecting pre-acquisition growth of $19.5 million and additions to the portfolio of $27.0 million associated with the acquisition, and residential mortgage loans declined $36.7 million, reflecting a pre-acquisition reduction in the portfolio of $60.7 million and an acquisition-related increase of $24.0 million.  During 2025, pre-acquisition securities available for sale and interest-earning deposits increased $174 million and $40.5 million, respectively; acquisition-related increases in these asset categories totaled $198 million and $42.1 million, respectively.

As of December 31, 2025, unfunded commitments on commercial construction and development loans, which are expected to be funded over the next 12 to 18 months, and residential construction loans, which are expected to be largely funded over the next 12 months, totaled $237 million and $34 million, respectively. 

Commercial and industrial loans and owner-occupied commercial real estate loans together represented approximately 55 percent of total commercial loans as of December 31, 2025, a level that has remained relatively consistent with prior periods and in line with our expectations.

Total deposits equaled $5.28 billion as of December 31, 2025, compared to $4.70 billion as of December 31, 2024.  Pre-acquisition local deposits were up $130 million, or 2.9 percent during 2025, while brokered deposits decreased $19.2 million.  The increase in local deposits reflected net growth in various existing deposit relationships and successful client acquisition efforts.  The acquisition of Eastern added $475 million in deposits, all of which were local, to the year-end 2025 balance sheet.  The pre-acquisition loan-to-deposit ratio equaled 95 percent as of December 31, 2025, down from 98 percent as of year-end 2024 largely due to the increase in local deposits.  The loan-to-deposit ratio equaled 91 percent at year-end 2025 when factoring in the impact of the acquisition.  Excluding the impact of the acquisition, wholesale funds were $457 million, or approximately 8 percent of total funds, and $537 million, or approximately 10 percent of total funds, at December 31, 2025, and December 31, 2024, respectively.  Eastern Michigan Bank did not have any wholesale funds at year-end 2025. Noninterest-bearing checking accounts represented approximately 25 percent of total deposits as of December 31, 2025, on both a pre- and post-acquisition basis.

Mr. Reitsma noted, "During 2025, the impact of strong commercial loan originations on total loan growth was substantially offset by elevated levels of line paydowns and payoffs during the year.  Our current loan pipeline is solid, which coupled with ongoing discussions with existing and potential borrowers, should provide us with ample opportunities to originate commercial loans in future periods.  We are pleased with the increase in local deposits and related decrease in our loan-to-deposit ratio during 2025 and intend on continuing our efforts to fund loan originations and investment purchases through local deposit growth."

Asset Quality

Nonperforming assets totaled $7.9 million, or 0.1 percent of total assets, as of December 31, 2025, compared to $9.8 million, or 0.2 percent of total assets, as of September 30, 2025, and $5.7 million, or less than 0.1 percent of total assets, at December 31, 2024. 

The increase in nonperforming assets during 2025 mainly reflected the weakening of a commercial construction loan, which necessitated specific reserve allocations totaling $5.5 million during the second quarter and third quarter of 2025, and was subject to a partial charge-off of $2.8 million during the fourth quarter of 2025.  In addition, $1.0 million in nonperforming assets were added to the balance sheet as of year-end 2025 in association with the acquisition of Eastern.  The level of past due loans remains nominal.  During the fourth quarter of 2025, loan charge-offs totaled $2.8 million while recoveries of prior period loan charge-offs equaled $0.2 million, providing for net loan charge-offs of $2.6 million, or an annualized 0.2 percent of average total loans.  During the full-year 2025, loan charge-offs totaled $3.1 million while recoveries of prior period loan charge-offs equaled $1.2 million, providing for net loan charge-offs of $1.9 million, or less than 0.1 percent of average total loans.  The aforementioned partial charge-off of the deteriorated commercial construction loan represented approximately 99 percent and 90 percent of total loan charge-offs during the fourth quarter of 2025 and full-year 2025, respectively.

Mr. Reitsma remarked, "Our asset quality metrics remained strong during 2025, reflecting our unwavering commitment to underwriting all of our loan types in a sound and disciplined manner and our customers' demonstrated abilities to operate effectively during the protracted and ongoing period of uncertain macro-economic conditions.  Nonperforming assets, past due loans, and loan charge-offs remain at low levels.  We believe our robust loan administration practices, which include a thorough loan review program, will allow us to identify deteriorating commercial loan relationships and detect any emerging systemic or sector-specific credit problems in a timely manner and limit the impact of such on our overall financial condition." 

Capital Position

Shareholders' equity totaled $725 million as of December 31, 2025, up $140 million from December 31, 2024.  Mercantile Bank and Eastern Michigan Bank maintained "well-capitalized" positions at year-end 2025, with total risk-based capital ratios of 13.8 percent and 15.3 percent, respectively.  As of December 31, 2025, Mercantile Bank and Eastern Michigan Bank had approximately $213 million and $20.4 million, respectively, in excess of the 10 percent minimum regulatory threshold required to be categorized as a "well-capitalized" institution.

Mercantile reported 17,181,110 total shares outstanding as of December 31, 2025.

Mr. Reitsma concluded, "Our Board of Directors' declaration of an increased first quarter 2026 regular cash dividend demonstrates our commitment to building shareholder value through meaningful cash returns while providing sufficient support for asset expansion objectives.  We believe our strong operating results and sustained strength in asset quality and capital measures, coupled with the attainment of solid financial results in future periods as expected, should allow us to effectively address any issues arising from shifting economic and operating conditions and continue our regular cash dividend program.  Our community banking philosophy, including our steadfast focus on developing mutually beneficial relationships, has been instrumental in our ability to retain existing customers and acquire new clients, and we believe these inherent traits will provide us with ample opportunities to originate loans and grow local deposits in upcoming periods.  We are excited about our acquisition of Eastern Michigan Financial Corporation, which has already assisted us in meeting certain important strategic goals, such as lowering our loan-to-deposit ratio and increasing our on-balance sheet liquidity."

Investor Presentation

Mercantile has prepared presentation materials that management intends to use during its previously announced fourth quarter 2025 conference call on Tuesday, January 20, 2026, at 10:00 a.m. Eastern Time, and from time to time thereafter in presentations about the company's operations and performance.  These materials, which are available for viewing in the Investor Relations section of Mercantile's website at www.mercbank.com, have been furnished to the U.S. Securities and Exchange Commission concurrently with this press release.

About Mercantile Bank Corporation

Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank and Eastern Michigan Bank.  Mercantile Bank and Eastern Michigan Bank provide financial products and services in a professional and personalized manner designed to make banking easier for businesses, individuals, and governmental units.  Distinguished by exceptional service, knowledgeable staff, and a commitment to the communities they serve, Mercantile Bank and Eastern Michigan Bank, as combined, comprise one of the largest Michigan-based banking organizations with total combined assets of approximately $6.8 billion. Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM." For more information about Mercantile, visit www.mercbank.com, and follow us on Facebook, Instagram, X (formerly Twitter) @MercBank, and LinkedIn @merc-bank.

Forward-Looking Statements

This news release contains statements or information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will," and similar references to future periods.  Any such statements are based on current expectations that involve a number of risks and uncertainties.  Actual results may differ materially from the results expressed in forward-looking statements.  Factors that might cause such a difference include difficulties and delays in the integration of Mercantile and Eastern and achieving anticipated synergies, cost savings and other benefits from the transaction; changes in interest rates and interest rate relationships; increasing rates of inflation and slower growth rates or recession; significant declines in the value of commercial real estate; market volatility; demand for products and services; climate impacts; labor markets; the degree of competition by traditional and nontraditional financial services companies; changes in banking regulation or actions by bank regulators; changes in tax laws and other laws and regulations applicable to us; changes in prices, levies, and assessments; the impact of technological advances; potential cyber-attacks, information security breaches and other criminal activities; litigation liabilities; governmental and regulatory policy changes; the outcomes of existing or future contingencies; trends in customer behavior as well as their ability to repay loans; changes in local real estate values; damage to our reputation resulting from adverse publicity, regulatory actions, litigation, operational failures, and the failure to meet client expectations and other facts; changes in the national and local economies; unstable political and economic environments; disease outbreaks, such as the COVID-19 pandemic or similar public health threats, and measures implemented to combat them; and other factors, including those expressed as risk factors, disclosed from time to time in filings made by Mercantile with the Securities and Exchange Commission.  Mercantile undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.  Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.

Mercantile Bank Corporation

Fourth Quarter 2025 Results

MERCANTILE BANK CORPORATION

CONSOLIDATED BALANCE SHEETS

(Unaudited)

DECEMBER 31,

DECEMBER 31,

DECEMBER 31,

2025

2024

2023

ASSETS

   Cash and due from banks

$

54,755,000

$

56,991,000

$

70,408,000

   Interest-earning deposits

418,569,000

336,019,000

60,125,000

      Total cash and cash equivalents

473,324,000

393,010,000

130,533,000

   Securities available for sale

1,102,230,000

730,352,000

617,092,000

   Mortgage loans held for sale

17,160,000

15,824,000

18,607,000

   Loans

4,821,888,000

4,600,781,000

4,303,758,000

   Allowance for credit losses

(58,191,000)

(54,454,000)

(49,914,000)

      Loans, net

4,763,697,000

4,546,327,000

4,253,844,000

   Premises and equipment, net

62,468,000

53,427,000

50,928,000

   Bank owned life insurance

105,342,000

93,839,000

85,668,000

   Goodwill

72,656,000

49,473,000

49,473,000

   Core deposit intangible asset

20,388,000

0

0

   Other assets

217,954,000

169,909,000

147,079,000

      Total assets

$

6,835,219,000

$

6,052,161,000

$

5,353,224,000

LIABILITIES AND SHAREHOLDERS' EQUITY

   Deposits:

      Noninterest-bearing

$

1,339,666,000

$

1,264,523,000

$

1,247,640,000

      Interest-bearing

3,944,786,000

3,433,843,000

2,653,278,000

         Total deposits

5,284,452,000

4,698,366,000

3,900,918,000

   Securities sold under agreements to repurchase

232,291,000

121,521,000

229,734,000

   Federal Home Loan Bank advances

326,221,000

387,083,000

467,910,000

   Subordinated debentures

51,015,000

50,330,000

49,644,000

   Subordinated notes

89,657,000

89,314,000

88,971,000

   Term note

30,000,000

0

0

   Accrued interest and other liabilities

96,699,000

121,021,000

93,902,000

         Total liabilities

6,110,335,000

5,467,635,000

4,831,079,000

SHAREHOLDERS' EQUITY

   Common stock

349,431,000

299,705,000

295,106,000

   Retained earnings

399,448,000

334,646,000

277,526,000

   Accumulated other comprehensive income/(loss)   

(23,995,000)

(49,825,000)

(50,487,000)

      Total shareholders' equity

724,884,000

584,526,000

522,145,000

      Total liabilities and shareholders' equity

$

6,835,219,000

$

6,052,161,000

$

5,353,224,000

Mercantile Bank Corporation

Fourth Quarter 2025 Results

MERCANTILE BANK CORPORATION

CONSOLIDATED REPORTS OF INCOME

(Unaudited)

THREE MONTHS ENDED

THREE MONTHS ENDED

TWELVE MONTHS ENDED

TWELVE MONTHS ENDED

December 31, 2025

December 31, 2024

December 31, 2025

December 31, 2024

INTEREST INCOME

   Loans, including fees

$

71,353,000

$

73,415,000

$

291,355,000

$

291,921,000

   Investment securities

6,271,000

4,316,000

22,499,000

14,040,000

   Interest-earning assets

4,630,000

4,756,000

16,340,000

15,541,000

      Total interest income

82,254,000

82,487,000

330,194,000

321,502,000

INTEREST EXPENSE

   Deposits

24,775,000

26,874,000

102,510,000

101,395,000

   Short-term borrowings

1,808,000

2,086,000

7,464,000

7,717,000

   Federal Home Loan Bank advances

2,715,000

3,150,000

11,404,000

13,018,000

   Other borrowed money

1,941,000

2,016,000

7,772,000

8,286,000

      Total interest expense

31,239,000

34,126,000

129,150,000

130,416,000

      Net interest income

51,015,000

48,361,000

201,044,000

191,086,000

Provision for credit losses

(700,000)

1,500,000

3,200,000

7,400,000

      Net interest income after

         provision for credit losses

51,715,000

46,861,000

197,844,000

183,686,000

NONINTEREST INCOME

   Service charges on accounts

2,263,000

1,866,000

8,134,000

6,842,000

   Mortgage banking income

3,334,000

3,611,000

13,021,000

12,301,000

   Credit and debit card income

2,285,000

2,177,000

9,207,000

8,821,000

   Interest rate swap income

270,000

717,000

1,957,000

3,210,000

   Payroll services

825,000

763,000

3,473,000

3,058,000

   Earnings on bank owned life insurance

1,332,000

497,000

3,293,000

2,555,000

   Other income

747,000

541,000

2,523,000

3,602,000

      Total noninterest income

11,056,000

10,172,000

41,608,000

40,389,000

NONINTEREST EXPENSE

   Salaries and benefits

21,836,000

21,482,000

83,198,000

77,924,000

   Occupancy

2,115,000

1,989,000

8,511,000

8,643,000

   Furniture and equipment

899,000

926,000

3,357,000

3,716,000

   Data processing costs

3,958,000

3,630,000

15,273,000

13,772,000

   Charitable foundation contributions

761,000

1,000,000

1,066,000

1,708,000

   Acquisition costs

1,187,000

0

1,815,000

0

   Other expense

5,970,000

4,779,000

22,739,000

20,026,000

      Total noninterest expense

36,726,000

33,806,000

135,959,000

125,789,000

      Income before federal income

         tax expense

26,045,000

23,227,000

103,493,000

98,286,000

Federal income tax expense

3,204,000

3,601,000

14,740,000

18,693,000

      Net Income

$

22,841,000

$

19,626,000

$

88,753,000

$

79,593,000

   Basic earnings per share

$1.40

$1.22

$5.47

$4.93

   Diluted earnings per share

$1.40

$1.22

$5.47

$4.93

   Average basic shares outstanding

16,263,884

16,142,578

16,237,974

16,130,696

   Average diluted shares outstanding

16,263,884

16,142,578

16,237,974

16,130,696

Mercantile Bank Corporation

Fourth Quarter 2025 Results

MERCANTILE BANK CORPORATION

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Unaudited)

Quarterly

Year-To-Date

(dollars in thousands except per share data)

2025

2025

2025

2025

2024

4th Qtr

3rd Qtr

2nd Qtr

1st Qtr

4th Qtr

2025

2024

EARNINGS

   Net interest income

$

51,015

52,002

49,479

48,548

48,361

201,044

191,086

   Provision for credit losses

$

(700)

200

1,600

2,100

1,500

3,200

7,400

   Noninterest income

$

11,056

10,388

11,462

8,702

10,172

41,608

40,389

   Noninterest expense

$

36,726

34,750

33,379

31,104

33,806

135,959

125,789

   Net income before federal income

      tax expense

$

26,045

27,440

25,962

24,046

23,227

103,493

98,286

   Net income

$

22,841

23,758

22,618

19,537

19,626

88,753

79,593

   Basic earnings per share

$

1.40

1.46

1.39

1.21

1.22

5.47

4.93

   Diluted earnings per share

$

1.40

1.46

1.39

1.21

1.22

5.47

4.93

   Average basic shares outstanding

16,263,884

16,249,267

16,239,919

16,197,978

16,142,578

16,237,974

16,130,696

   Average diluted shares outstanding

16,263,884

16,249,267

16,239,919

16,197,978

16,142,578

16,237,974

16,130,696

PERFORMANCE RATIOS

   Return on average assets

1.44 %

1.50 %

1.50 %

1.32 %

1.30 %

1.44 %

1.40 %

   Return on average equity

13.50 %

14.72 %

14.72 %

13.34 %

13.36 %

14.08 %

14.35 %

   Net interest margin (fully tax-equivalent)

3.43 %

3.49 %

3.48 %

3.47 %

3.41 %

3.47 %

3.58 %

   Efficiency ratio

59.17 %

55.70 %

54.77 %

54.33 %

57.76 %

56.03 %

54.34 %

   Full-time equivalent employees

770

683

692

662

668

770

668

YIELD ON ASSETS / COST OF FUNDS

   Yield on loans

6.12 %

6.35 %

6.29 %

6.28 %

6.38 %

6.26 %

6.59 %

   Yield on securities

2.96 %

2.90 %

2.82 %

2.73 %

2.54 %

2.86 %

2.29 %

   Yield on other interest-earning assets

4.25 %

4.63 %

4.91 %

4.80 %

4.98 %

4.66 %

5.61 %

   Yield on total earning assets

5.52 %

5.74 %

5.75 %

5.73 %

5.80 %

5.69 %

6.01 %

   Yield on total assets

5.20 %

5.41 %

5.44 %

5.43 %

5.50 %

5.37 %

5.69 %

   Cost of deposits

2.04 %

2.20 %

2.24 %

2.23 %

2.36 %

2.17 %

2.40 %

   Cost of borrowed funds

3.56 %

3.61 %

3.61 %

3.62 %

3.73 %

3.60 %

3.65 %

   Cost of interest-bearing liabilities

2.87 %

3.06 %

3.09 %

3.08 %

3.30 %

3.03 %

3.38 %

   Cost of funds (total earning assets)

2.09 %

2.25 %

2.27 %

2.26 %

2.39 %

2.22 %

2.43 %

   Cost of funds (total assets)

1.97 %

2.12 %

2.15 %

2.14 %

2.27 %

2.09 %

2.30 %

MORTGAGE BANKING ACTIVITY

   Total mortgage loans originated

$

141,451

136,840

141,921

100,396

121,010

520,608

484,612

   Purchase mortgage loans originated

$

85,973

107,993

111,247

81,494

82,212

386,707

366,566

   Refinance mortgage loans originated

$

55,478

28,847

30,674

18,902

38,798

133,901

118,046

   Mortgage loans originated intent to sell

$

116,886

111,334

112,323

80,453

100,628

420,996

380,076

   Income on sale of mortgage loans

$

3,376

3,482

3,219

2,455

3,768

12,532

11,695

CAPITAL

   Tangible equity to tangible assets

9.37 %

9.72 %

9.49 %

9.17 %

8.91 %

9.37 %

8.91 %

   Tier 1 leverage capital ratio

11.30 %

10.90 %

10.93 %

10.75 %

10.60 %

11.30 %

10.60 %

   Common equity risk-based capital ratio

11.00 %

11.33 %

10.90 %

10.90 %

10.66 %

11.00 %

10.66 %

   Tier 1 risk-based capital ratio

11.82 %

12.20 %

11.75 %

11.78 %

11.54 %

11.82 %

11.54 %

   Total risk-based capital ratio

14.34 %

14.87 %

14.37 %

14.44 %

14.17 %

14.34 %

14.17 %

   Tier 1 capital

$

704,776

685,440

666,068

647,795

633,134

704,776

633,134

   Tier 1 plus tier 2 capital

$

854,876

835,263

814,796

794,143

777,857

854,876

777,857

   Total risk-weighted assets

$

5,961,281

5,617,005

5,670,571

5,499,046

5,487,886

5,961,281

5,487,886

   Book value per common share

$

42.19

40.46

38.87

37.47

36.20

42.19

36.20

   Tangible book value per common share

$

36.78

37.41

35.82

34.42

33.14

36.78

33.14

   Cash dividend per common share

$

0.38

0.38

0.37

0.37

0.36

1.50

1.42

ASSET QUALITY

   Gross loan charge-offs

$

2,842

172

38

63

3,787

3,115

3,838

   Recoveries

$

206

726

147

175

150

1,254

977

   Net loan charge-offs (recoveries)

$

2,636

(554)

(109)

(112)

3,637

1,861

2,861

   Net loan charge-offs to average loans

0.23 %

(0.05 %)

(0.01 %)

(0.01 %)

0.31 %

0.04 %

0.60 %

   Allowance for credit losses

$

58,191

59,129

58,375

56,666

54,454

58,191

54,454

   Allowance to loans

1.21 %

1.28 %

1.24 %

1.22 %

1.18 %

1.21 %

1.18 %

   Nonperforming loans

$

7,870

9,844

9,743

5,361

5,743

7,870

5,743

   Other real estate/repossessed assets

$

0

0

0

0

0

0

0

   Nonperforming loans to total loans

0.16 %

0.21 %

0.21 %

0.12 %

0.12 %

0.16 %

0.12 %

   Nonperforming assets to total assets

0.12 %

0.16 %

0.16 %

0.09 %

0.09 %

0.12 %

0.09 %

NONPERFORMING ASSETS - COMPOSITION

   Commercial:

      Commercial & industrial

$

1,393

1,509

1,727

2,257

2,726

1,393

2,726

      Land development & construction

$

201

0

0

0

0

201

0

      Owner occupied comm'l R/E

$

517

0

0

41

42

517

42

      Non-owner occupied comm'l R/E

$

2,732

5,532

5,532

0

0

2,732

0

      Multi-family & residential rental

$

0

0

0

0

0

0

0

         Total commercial

$

4,843

7,041

7,259

2,298

2,768

4,843

2,768

   Retail:

      1-4 family mortgages

$

2,971

2,767

2,484

3,063

2,975

2,971

2,975

      Other consumer

$

56

36

0

0

0

56

0

         Total retail

$

3,027

2,803

2,484

3,063

2,975

3,027

2,975

Total nonperforming assets

$

7,870

9,844

9,743

5,361

5,743

7,870

5,743

NONPERFORMING ASSETS - RECON

   Beginning balance

$

9,844

9,743

5,361

5,743

9,877

5,743

3,615

   Additions

$

1,299

426

5,792

423

224

7,940

8,502

   Return to performing status

$

0

(27)

0

0

(102)

(27)

(102)

   Principal payments

$

(466)

(222)

(1,385)

(744)

(515)

(2,817)

(2,331)

   Sale proceeds

$

0

0

0

0

0

0

(200)

   Loan charge-offs

$

(2,807)

(76)

(25)

(61)

(3,741)

(2,969)

(3,741)

   Valuation write-downs

$

0

0

0

0

0

0

0

   Ending balance

$

7,870

9,844

9,743

5,361

5,743

7,870

5,743

LOAN PORTFOLIO COMPOSITION

   Commercial:

      Commercial & industrial

$

1,374,522

1,337,729

1,375,368

1,314,383

1,287,308

1,374,522

1,287,308

      Land development & construction

$

117,373

70,806

67,520

68,790

66,936

117,373

66,936

      Owner occupied comm'l R/E

$

778,869

729,451

725,106

705,645

748,837

778,869

748,837

      Non-owner occupied comm'l R/E

$

1,110,674

1,091,210

1,134,012

1,183,728

1,128,404

1,110,674

1,128,404

      Multi-family & residential rental

$

537,224

521,111

519,152

479,045

475,819

537,224

475,819

         Total commercial

$

3,918,662

3,750,307

3,821,158

3,751,591

3,707,304

3,918,662

3,707,304

   Retail:

      1-4 family mortgages

$

790,857

780,917

799,426

817,212

827,597

790,857

827,597

      Other consumer

$

112,369

83,936

77,435

67,746

65,880

112,369

65,880

         Total retail

$

903,226

864,853

876,861

884,958

893,477

903,226

893,477

         Total loans

$

4,821,888

4,615,160

4,698,019

4,636,549

4,600,781

4,821,888

4,600,781

END OF PERIOD BALANCES

   Loans

$

4,821,888

4,615,160

4,698,019

4,636,549

4,600,781

4,821,888

4,600,781

   Securities

$

1,102,230

855,138

826,415

787,583

730,352

1,102,230

730,352

   Other interest-earning assets

$

458,548

457,373

246,254

351,846

373,357

458,548

373,357

   Total earning assets (before allowance)

$

6,382,666

5,927,671

5,770,688

5,775,978

5,704,490

6,382,666

5,704,490

   Total assets

$

6,835,219

6,308,487

6,180,988

6,141,200

6,052,161

6,835,219

6,052,161

   Noninterest-bearing deposits

$

1,339,666

1,182,775

1,180,801

1,173,499

1,264,523

1,339,666

1,264,523

   Interest-bearing deposits

$

3,944,786

3,629,038

3,529,671

3,508,286

3,433,843

3,944,786

3,433,843

   Total deposits

$

5,284,452

4,811,813

4,710,472

4,681,785

4,698,366

5,284,452

4,698,366

   Total borrowed funds

$

730,778

739,688

740,685

749,711

649,528

730,778

649,528

   Total interest-bearing liabilities

$

4,675,564

4,368,726

4,270,356

4,257,997

4,083,371

4,675,564

4,083,371

   Shareholders' equity

$

724,884

657,630

631,519

608,346

584,526

724,884

584,526

AVERAGE BALANCES

   Loans

$

4,627,544

4,668,173

4,695,367

4,629,098

4,565,837

4,655,077

4,432,671

   Securities

$

880,619

841,853

803,264

763,095

720,632

822,584

657,901

   Other interest-earning assets

$

426,758

433,055

235,965

304,325

373,375

350,589

277,247

   Total earning assets (before allowance)

$

5,934,921

5,943,081

5,734,596

5,696,518

5,659,844

5,828,250

5,367,819

   Total assets

$

6,296,341

6,294,841

6,061,819

6,018,158

5,967,036

6,168,640

5,667,655

   Noninterest-bearing deposits

$

1,227,100

1,215,918

1,152,631

1,144,781

1,188,561

1,185,730

1,174,082

   Interest-bearing deposits

$

3,599,012

3,610,600

3,463,067

3,443,770

3,335,477

3,529,448

3,058,151

   Total deposits

$

4,826,112

4,826,518

4,615,698

4,588,551

4,524,038

4,715,178

4,232,233

   Total borrowed funds

$

720,499

749,679

749,811

738,628

770,838

739,632

796,016

   Total interest-bearing liabilities

$

4,319,511

4,360,279

4,212,878

4,182,398

4,106,315

4,269,080

3,854,167

   Shareholders' equity

$

671,029

640,495

616,229

594,145

582,829

630,452

554,544

SOURCE Mercantile Bank Corporation

HomeStock IdeasLong IdeasFinancials 

SummaryFirst Horizon is attractively valued with a forward P/E of 11.35 and a 2.5% well-covered dividend yield.First Horizon posted strong Q4 2025 results with 15% YoY adjusted net income growth, 15% ROTCE, and stable credit quality with low charge-offs.Management guides for 3–7% revenue growth and mid-single-digit loan growth in 2026, supported by easing mortgage rates and robust deposit inflows.First Horizon trades at a discount to its larger peers and history and is returning capital via buybacks and dividends.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More » Daniel Grizelj/DigitalVision via Getty Images

Regional banks remain a good value in today’s market, especially as many remain meaningfully undervalued compared to megabanks like Bank of America Corporation (BAC) and JPMorgan Chase & Co. (JPM). Regional banks have a smaller asset base

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in FHN over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Swiss drugmaker Novartis' logo is seen at the company's plant in the northern Swiss town of Stein, Switzerland October 23, 2017. REUTERS/Arnd Wiegmann Purchase Licensing Rights, opens new tab

Jan 20 (Reuters) - Novartis (NOVN.S), opens new tab CEO Vas Narasimhan told CNBC on Tuesday he expects the drugmaker's agreement with the U.S. government and its expanding manufacturing footprint in the country to protect it from potential tariffs.

"We expect to be in a position by middle of this year where we are not really exposed to tariffs, because we're able to produce in the U.S. for the U.S.," Narasimhan said.

Sign up here.

He noted the company last year announced $23 billion in manufacturing investments and is progressing those projects to further reduce exposure.

The Swiss drugmaker also has an agreement with the U.S. government that could exempt it from tariffs, Narasimhan said, adding that the company is also "future‑proofed" if its products are subject to levies.

Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Leroy Leo

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Analyst’s Disclosure:I/we have a beneficial long position in the shares of EPD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: I am not an investment advisor, and this article is not meant to be a recommendation of the purchase or sale of stock. Investors are advised to do their own research, which includes the review of all company documents and press releases, to see if the company fits their own investment qualifications.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Though claiming a company could be the next Nvidia (NASDAQ: NVDA) might have become somewhat tired by early 2026, there is a genuine and strong bull case for the nuclear reactor company Oklo (NYSE: OKLO) amidst both the artificial intelligence (AI) boom and the troubles it has brought upon the world.

Specifically, an increasingly important factor in the ongoing drive to accelerate AI capacity has been the ability of the U.S. and other energy grids to power the voracious data centers.

So far, the matter has become both a practical and political issue, as it is as expensive as it is difficult to expand the infrastructure, while communities close to such facilities have been growing increasingly dissatisfied with pollution, noise, water usage, and electrical stability.

While some companies, such as Elon Musk’s xAI, have employed inelegant stopgap measures such as diesel and other generators – allegedly illegally – nuclear power appears like an increasingly popular solution.

Oklo stock 2026 bull case Among the companies that could provide data center energy solutions, Oklo is especially well-positioned. 

Indeed, the company that specializes in smaller, modular reactors has already drawn positive attention from investors due to its being formerly chaired by Sam Altman of OpenAI, arguably the best-known AI company in the world.

The company’s rising popularity is also evident in the stock market as OKLO shares recorded an impressive 203% rise in the last 12 months to its press time price of $94.95. Furthermore, the company is enjoying a strong start to 2026, having risen 22% since New Year’s Day.

Will Oklo supplant Nvidia as AI’s proverbial ‘shovel-seller’? Although such a rally could give investors cause for concern, it is worth pointing out that Nvidia – the previous proverbial ‘shovel-seller’ of the AI gold rush – is up 1,044% since the 2022 public release of ChatGPT and is widely expected to rise further in 2026.

Should Oklo truly secure its position as a major energy provider for data centers, the potential for business-side growth and the company’s prominence in the minds of investors could lead to an ever greater rally.

Lastly, Wall Street is certainly bullish about the nuclear reactor stock’s prospects in the coming 12 months. Oklo shares are, on average, expected to rise 31.76% and reach $125 by late 2026 or early 2027, according to the latest data Finbold retrieved from the stock analysis platform TipRanks.

Featured image via Shutterstock

Ahmedabad, India--(Newsfile Corp. - January 20, 2026) - Moon Invoice, a business invoicing and financial management platform developed by Moon Technolabs, has been recognized as Microsoft Store Standout App 2025 and selected as a winner in the Business Category.

This recognition places Moon Invoice among a select group of global business applications acknowledged for product performance, usability, and measurable impact on business operations. The Microsoft Store Awards highlight applications that demonstrate strong customer value, technical reliability, and real-world adoption across enterprise and small business environments.

Product Recognition Reflects Growing Demand for Smarter Invoicing

Moon Invoice is designed to help businesses streamline their invoicing and financial workflows through a single, unified platform. The solution supports freelancers, small businesses, and enterprises by enabling invoice creation, expense management, point-of-sale (POS) operations, and payment tracking within one system.

By automating routine financial tasks, Moon Invoice aims to reduce administrative overhead and improve billing accuracy, allowing businesses to focus on operational growth rather than manual paperwork.

Built for Global Business Operations

Developed by Moon Technolabs' product and engineering team, Moon Invoice offers a scalable architecture suitable for businesses operating across regions. Core capabilities include:

Professional invoice and quotation management.Expense tracking and tax calculations.POS and inventory management.Secure digital payment integrations.Multi-currency and multi-language support.Cloud-based access across multiple devices.These features enable Moon Invoice to serve organizations with diverse compliance, reporting, and operational requirements.

Recognition Highlights Product-Led Innovation

Moon Technolabs brings more than 16 years of experience in building enterprise software and SaaS products. The Microsoft Store recognition reflects the company's focus on product-led development and its ability to deliver applications that meet global standards for quality and reliability.

Moon Invoice is currently used by businesses across multiple countries and industries. Its inclusion in the Microsoft Store Awards 2025, which was also referenced in national business coverage of award recipients, including The Times of India, further reinforces the platform's credibility within the global business software ecosystem.

Availability

Moon Invoice is available to businesses worldwide through its official website and the Microsoft Store.

Website:https://www.mooninvoice.com/Microsoft Store Download:https://apps.microsoft.com/detail/9wzdncrdchr8iOS: https://apps.apple.com/us/app/easy-invoice-maker-app-by-moon/id1008723643About Moon Technolabs

Moon Technolabs is a global software development company specializing in AI-powered solutions, enterprise applications, and SaaS platforms. The company delivers scalable digital products for businesses worldwide.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280921

Source: FG Newswire

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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Key NotesBitMine staked another 86,848 ETH worth about $277.5 million.Ethereum’s staking entry queue climbed to around 2.7 million ETH on January 20.Active Ethereum addresses doubled to 8 million in a month, though researchers link it to poisoning attacks. Tom Lee’s BitMine has added another large batch of Ether ETH $3 090 24h volatility: 3.8% Market cap: $372.85 B Vol. 24h: $23.51 B to its staking book. The company recently staked an additional 86,848 ETH, worth around $277.5 million at current prices. This brings the firm’s total staked Ether to 1,771,936 ETH, valued at roughly $5.66 billion.

Tom Lee(@fundstrat)'s #Bitmine staked another 86,848 $ETH($277.5M) 5 hours ago.

In total, #Bitmine has now staked 1,771,936 $ETH($5.66B).https://t.co/P684j5Yil8 pic.twitter.com/fNoIuERqKt

— Lookonchain (@lookonchain) January 20, 2026

Last week, BitMine Chair Tom Lee said the firm plans to become the largest staking provider across crypto markets. He projected yearly revenue of about $374 million, equal to more than $1 million per day, based on current reward rates.

BitMine is backed by major institutional names, including Peter Thiel’s Founders Fund and Cathie Wood’s ARK Invest. The firm remains the largest Ethereum treasury holder globally, with most of its ETH now locked in staking contracts.

Staking Demand Surges BitMine’s activity comes as demand for Ether staking continues to climb. Ethereum’s staking entry queue has spiked to about 2.7 million ETH on Jan. 20. This is the highest level since mid-2023.

At the same time, the staking exit queue has dropped sharply. The current levels are the first clear fall since mid-2025. Analysts say fewer exits can reduce short-term selling risk as less ETH is waiting to be released back to the market.

Earlier, on Jan. 20, a newly created wallet withdrew 3,300 ETH, worth around $10.51 million, from Bybit.

https://twitter.com/OnchainLens/status/2013457583366119832

The move added to signs of active positioning as the leading cryptocurrency is trading just above the $31,000 level.

Red Flag over Activity It is interesting to note that active addresses on the Ethereum network recently doubled to 8 million within a month. During the week starting Jan. 12, around 2.7 million new addresses appeared, about 170% above normal levels. Daily transactions also moved above 2.8 million.

However, security researcher Andrey Sergeenkov said recent record activity may be linked to address poisoning attacks, made cheaper by lower fees since December.

Sergeenkov said these spikes likely came from mass spam activity. Address poisoning means sending small transfers from look-alike wallet addresses, hoping users copy the wrong one later.

Notably, network fees fell more than 60%, cutting attack costs after the Fusaka upgrade in early December.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Cryptocurrency News, News

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

Parth Dubey on LinkedIn

Veteran trader Peter Brandt warns Bitcoin’s bearish channel could trigger further downside unless strong buying breaks key resistance.

Summary

Veteran trader Peter Brandt flags a bearish, downward-sloping channel in Bitcoin near six-figure resistance.​ He warns BTC could move into a lower price range if buying pressure stays weak, while stressing his forecasts can be wrong.​ Bitcoin remains volatile amid macro and regulatory headwinds as analysts track key technical levels for its next major move. Veteran trader Peter Brandt, who accurately predicted Bitcoin’s (BTC) 2018 decline, has issued a warning regarding potential downward price movement for the cryptocurrency, according to a chart shared on social media platform X.

58k to $62k is where I think it is going $BTC
If it does not go there I will NOT be ashamed, so I do not need to see you trolls screen shot this in the future
I am wrong 50% of the time. It does not bother me to be wrong pic.twitter.com/NDOuSrqLwa

— Peter Brandt (@PeterLBrandt) January 19, 2026 Brandt highlighted key resistance levels for Bitcoin near the six-figure price point in his analysis. The trader indicated that Bitcoin remains within a bearish, downward-sloping channel pattern, according to his post.

Peter Brandt says Bitcoin has lower to go The analysis suggested that without strong buying pressure, Bitcoin could experience additional downward movement. Brandt stated that the price could move to a lower range, while acknowledging uncertainty in market predictions.

Brandt, who has decades of trading experience, noted in his post that his forecasts are not always accurate, stating he would not be ashamed if proven incorrect.

Bitcoin has faced increased volatility in recent months as the cryptocurrency market responds to various macroeconomic factors and regulatory developments. The digital asset previously reached all-time highs before experiencing significant price fluctuations.

Market analysts continue to monitor key technical levels and trading patterns as investors assess the cryptocurrency’s near-term trajectory.

Veteran trader Peter Brandt is predicting that Bitcoin could fall from its current price range to between $58,000 and $62,000. This would mean a steep decline of 33% to 37% from where BTC sits today at $92,400.

Peter Brandt, who has decades of trading experience, shared his forecast based on what he sees in the price charts. Writing on X, the social media platform, Brandt explained that Bitcoin could head down to the $58,000 to $62,000 range. His analysis looks at a chart pattern that has formed over the last two months, called a rising wedge.

Source: X/Peter Brandt. Technical patterns signal potential weakness This pattern shows up when prices move between two trendlines that both slope upward and gradually come closer together, with the bottom line climbing more sharply than the top one. Traders often see this formation as a sign that upward price movement is losing steam and that a drop might be coming, though chart patterns don’t always work out as expected.

Brandt was upfront about the uncertainty that comes with making market predictions. “If it does not go there I will NOT be ashamed, so I do not need to see you trolls screenshot this in the future. I am wrong 50% of the time. It does not bother me to be wrong,” he wrote.

Other market observers are also raising red flags about Bitcoin’s price action. One analyst drew attention to how Bitcoin’s current behavior looks a lot like what happened during 2022. This analyst claimed that Bitcoin is “repeating the 2022 fractal exactly.”

The comparison reveals that in both instances, Bitcoin saw a brief rally but was unable to overcome a resistance level, resulting in what traders refer to as a bull trap. Following that, a rising support line caused the price to drop. A quick selloff occurred back in 2022 when that support was broken. The expert believes that something similar may be occurring right now.

But not everyone believes that the future is bleak. Based on US liquidity concerns, analyst Ted Pillows presented an alternative perspective. He pointed out that the rise in US liquidity year over year reached its lowest point in November 2025, coinciding with a local low for the price of Bitcoin.

Since then, according to Pillows, US liquidity has started improving. He thinks this could fuel a rally in cryptocurrencies. “Now US liquidity is improving, which is one of the reasons I’m expecting a crypto rally. It’s that simple,” he said.

Early Bitcoin investors make major moves Early Bitcoin investors are making major moves. Lookonchain reported that an old Bitcoin whale moved 909.38 BTC to a new wallet after holding them for 13 years. These coins are now worth about $84.62 million. When this investor first received them, each Bitcoin was valued at less than $7, meaning the holdings have grown about 13,900 times in value. Large movements like this often get people wondering whether these early adopters are preparing to sell or just reorganizing their holdings.

One more early investor has begun selling. Twelve years ago, this whale purchased 5,000 BTC at $332 each. They have sold 2,500 Bitcoin worth $265 million at an average price of $106,164 since December 4, 2024. With total gains of hundreds of millions, the whale still holds 2,500 BTC worth $237.5 million.

Bitcoin is currently at a turning point. While improved US liquidity circumstances imply that larger economic reasons might support a rebound, technical signals and historical parallels hint at the possibility of a bigger fall.

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Tron's largest native stablecoin is deepening its infrastructure stack, as the USDD team aligns with chainlink price feeds to standardize cross-chain data.

Summary

USDD adopts Chainlink data standard for cross-chain pricingWhy the USDD integration matters for ChainlinkLINK price tests key technical supportOn-chain metrics highlight holder growth and whale stabilityUSDD, Chainlink, and long-term implications USDD adopts Chainlink data standard for cross-chain pricing USDD, Tron's largest native stablecoin with over $1.1 billion in circulation, has now officially adopted the Chainlink data standard across its ecosystem. Moreover, the move underscores how major stablecoin issuers are converging around unified, decentralized data sources.

With this integration, USDD's pricing will be fully supported by Chainlink price feeds, giving the asset real-time pricing data across Ethereum, BNB Chain, and Tron. However, the significance goes beyond simple data access, as it cements a consistent framework for cross-chain pricing and risk management.

This step places Chainlink at the center of USDD's cross-chain pricing system. That said, it also signals that stablecoin issuers are increasingly favoring decentralized and standardized oracle architectures over chain-specific solutions.

Why the USDD integration matters for Chainlink Overall, integrating with the USDD ecosystem strengthens Chainlink's position in stablecoin and cross-chain infrastructure markets. Because stablecoins operate across multiple blockchains, reliable pricing and reference data are critical for market stability and protocol security.

By adding USDD as a client, Chainlink gains further exposure to a high-value network, reinforcing its role as on-chain activity continues to grow. Moreover, the integration fits within a broader wave of Chainlink oracle adoption, as protocols increasingly prefer aggregated, battle-tested oracles over bespoke, chain-specific feeds.

Notably, this development also illustrates how stablecoin price feeds are becoming a key pillar of multi-chain finance. However, the competitive landscape for cross-chain oracle networks remains intense, and consistent performance will likely determine long-term leadership.

LINK price tests key technical support Against this on-chain backdrop, LINK was trading at a technically sensitive price level, testing a key imbalance zone at around $12.811 at press time. The level has emerged as an important structural area where traders typically reassess risk.

At the same time, the token's Stochastic RSI on the daily chart was approaching an oversold region, pointing to a potential reversal ahead. However, technical indicators alone do not confirm direction, and traders typically wait for additional signals before repositioning.

While price action on its own is not decisive, the technical setup puts LINK at a juncture where market participants would normally evaluate whether current levels represent a buying opportunity or a risk of further downside.

On-chain metrics highlight holder growth and whale stability On-chain data offers further insight into the Chainlink market structure. Over the past few weeks, the number of LINK token holders has continued to increase, suggesting that the user base is broadening even if the most active trading cohort may be narrowing.

Meanwhile, large holders, or so-called whales, appear unaffected by short-term volatility. The amount of LINK tokens held by these entities has maintained its stability above 500 million. Moreover, the absence of significant distribution suggests that long-horizon investors are retaining exposure as the network's adoption rate increases.

The resilience of whale balances, alongside consistent holder growth, supports a constructive long-term narrative for LINK. That said, investors still need to account for macro market conditions and broader crypto sentiment when interpreting these metrics.

Cumulatively, stronger Chainlink network adoption, firm holder sentiment, and stable supply held by whales present a bullish long-term bias for LINK's price behavior. In this context, the current technical support zone around the recent trading levels gains additional significance for market participants monitoring the asset.

USDD, Chainlink, and long-term implications The tron usdd integration into Chainlink's oracle stack is also part of a larger pattern in 2024, in which key stablecoins adopt robust, multi-chain infrastructure. Moreover, the arrangement aligns with ongoing chainlink ecosystem growth, reinforcing the project's foothold in core DeFi and stablecoin markets.

For USDD, embedding standardized oracle data into its architecture helps reinforce trust in its usdd cross-chain pricing mechanisms. For Chainlink, each additional integration strengthens network effects, as more protocols anchor their risk systems, liquidity tooling, and derivatives infrastructure to its data services.

In summary, USDD's embrace of Chainlink oracles enhances long-term foundations for both the stablecoin and the LINK token. The combination of expanding integrations, supportive on-chain metrics, and technically important price levels frames a constructive outlook, even as traders closely watch how the market reacts around current support.

Alessia Pannone

Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.

Ethereum price hovering below a key breakout zone as a record share of its supply is locked in staking, tightening available liquidity.

Summary

Ethereum is consolidating below $3,400 as volatility contracts and momentum cools. Staked ETH has reached a record 30% of total supply, reducing circulating liquidity. Derivatives activity has slowed, pointing to caution rather than aggressive positioning. Ethereum was trading at $3,162 at press time, down 1.3% over the past 24 hours. Over the last week, the price has moved between $3,119 and $3,379. ETH is up about 3.6% over the past month after climbing back above $3,000, though it remains well below its August record high of $4,946.

Trading activity has slowed. Ethereum’s (ETH) 24-hour volume fell roughly 19% to $20 billion, showing fewer traders are active at current levels.

Futures data from CoinGlass points to a similar trend. Derivatives volume dropped more than 22%, while open interest fell 2% to $40.26 billion. This suggests traders are cutting back on leverage rather than positioning for a sharp move.

Staking reaches a new high While price action has cooled, Ethereum’s staking activity continues to grow. Data shared by Solid Intel on Jan. 20 shows that close to 30% of all ETH in circulation is now staked.

In total, around 36.2 million ETH, worth close to $120 billion at recent prices, is locked into the network. Staking returns have edged lower, now sitting between 2.8% and 4%, as more ETH enters the system.

Even so, the steady inflow suggests many holders are focused on long-term participation rather than short-term price moves.

Queue data supports that view. More than 2.6 million ETH is waiting to be staked, while very little is queued to exit. This imbalance signals strong confidence and little interest in unlocking funds.

Major firms are taking part as well. Companies such as BitMine continuing to expand their staking holdings suggest that institutional investors see staking as a core strategy. While some analysts have raised concerns about centralization, the overall outlook on staking remains positive.

Ethereum price technical analysis Ethereum is trading just under the $3,350–$3,400 zone, an area that has repeatedly capped recent gains. Price movement has narrowed, pointing to consolidation rather than a clear trend.

Ethereum daily chart. Credit: crypto.news The Bollinger Bands are tightening, indicating reduced volatility. While this doesn’t show the direction of the next move, squeezes like this often come before a stronger breakout. ETH is also hovering near the midpoint of the bands, which typically reflects a sideways phase.

ETH is still above its 50-day moving average, which has served as a floor on several occasions in recent drops. The overall structure has remained intact because each pullback has attracted buyers, frequently at increasingly higher levels. 

While momentum hasn’t drastically decreased, it has eased in comparison to previous stages. The daily RSI is now slightly above 50 and has moved closer to neutral, indicating some buyer hesitancy without much seller pressure.

Volume is still low, and there hasn’t been much follow-through on recent attempts to push higher. A clean daily close above $3,400 would cause momentum to change and pave the way for the $3,650–$3,800 range. 

However, a pullback towards $3,050 to $3,100, where buying interest has previously emerged, could result from repeated failure at resistance. Overall, Ethereum is now in a holding pattern.

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ONDO has lost over 65% of its value since October as heavy selling pressure continues to dominate the altcoin market. While Bitcoin has shown relative stability at key levels, many mid-cap tokens like ONDO have struggled to find consistent demand. This drawdown has pushed sentiment toward the bearish side, especially as traders remain cautious around liquidity events and token unlocks.

Still, some analysts argue that the current dip is not purely a sign of weakness. A CryptoQuant report explains that the headlines may scream “price drop,” but the on-chain data is pointing toward “opportunity” instead. The focus is now on ONDO’s massive 1.94 billion token unlock scheduled for January 18, 2026. Historically, unlocks can trigger panic selling, as investors anticipate higher circulating supply and additional distribution pressure.

However, this time may be different. The report suggests that larger market participants are actively positioning through the decline, using the fear as a liquidity window. Rather than treating the unlock as a reason to exit, the data hints that “smart money” is stepping in to absorb supply while retail confidence remains fragile. That sets the stage for a critical test.

Smart Money Absorption Signals Are Building The CryptoQuant report outlines why larger investors appear to be ignoring the noise around ONDO’s decline. The first signal is the “whale shield.” Despite the sharp correction since the December 2024 peak, Spot Average Order Size continues to be dominated by “Big Whale Orders,” shown through consistent green dots on the chart. This implies institutions are using weakness to absorb liquidity, with the $0.35–$0.40 zone acting as a primary accumulation range.

Ondo Spot Average Order Size | Source: CryptoQuant Second, ONDO has officially entered a Taker Buy Dominant phase. The 90-day Cumulative Volume Delta (CVD) remains positive and continues rising, showing that market buy pressure has outweighed market sells for months. This is important because takers represent aggressive participants who buy at the ask without waiting for better entries.

The report frames this alignment as “taker alpha.” When large whale orders and aggressive taker buying strengthen while the price falls, it often reflects absorption. If this continues through the unlock, ONDO could be building a coiled-spring setup for a 2026 RWA breakout.

ONDO Extends Downtrend as Bulls Defend Key Demand Zone ONDO remains under heavy pressure after a prolonged decline that has erased most of its 2025 upside. The 3-day chart shows a clear breakdown from the former consolidation range near $0.90–$1.00, where price repeatedly failed to reclaim momentum during the second half of the year. Once sellers forced a decisive move lower, the market quickly transitioned into a steep downtrend marked by weak bounces and consistent lower highs.

ONDO testing fresh demand level | Source: ONDOUSDT chart on TradingView At the time of writing, ONDO is trading near $0.33 after slipping below the $0.40 handle, a psychological level that previously acted as temporary support. This drop places the token deep below its key moving averages, with the shorter trend lines rolling over and acting as overhead resistance. The failed recovery attempts throughout late 2025 confirm that sellers have stayed in control, while buyers have struggled to generate enough volume to shift the trend.

However, price is now approaching a potential demand zone around $0.30–$0.35, where volatility historically increases and dip buyers may try to step in. If this area fails, the chart suggests downside could accelerate. Still, a strong defense could open the door for a stabilization phase before any meaningful rebound.

Featured image from ChatGPT, chart from TradingView.com 

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

A fresh security breach in decentralized finance has put the spotlight back on protocol risk, with the makinafi exploit shaking confidence across yield platforms.

Summary

Flash loan-driven drain of the DUSD/USDC poolPeckShield traces the funds and flags the addressesMEV bots front-run part of the attackSecurity warnings and user protectionsDeFi risk lessons from the MakinaFi exploitWhat it means for DeFi users going forward Flash loan-driven drain of the DUSD/USDC pool The incident hit MakinaFi, a DeFi yield and asset management platform, on January 20, when attackers targeted one of its stablecoin pools. They siphoned around 1,299 ETH, worth roughly $4.1 million at current prices, in a tightly orchestrated operation.

The core target was MakinaFi’s DUSD/USDC Curve pool, which is built on Curve Finance and links Dialectic‘s yield-bearing token DUSD with USDC. In this case, the attacker executed a classic flash loan attack, borrowing a large amount of crypto for seconds to manipulate prices before repaying the loan.

According to on-chain data, the exploiter borrowed funds from lending protocols such as Aave and Morpho, then routed a sequence of Curve and Uniswap swaps to distort pricing inside the pool. As a result, they were able to extract more value than the pool should have allowed, ultimately walking away with 1,299 ETH in a single transaction.

PeckShield traces the funds and flags the addresses The breach was first highlighted by blockchain security firm PeckShield, which posted a detailed alert shortly after the attack. The firm stated: “#PeckShieldAlert: @makinafi has been exploited for ~1,299 $ETH (~$4.13M). The hacker was frontrun by MEV Builder (0xa6c2…). The stolen funds are currently held in 2 addresses: 0xbed2…dE25 ($3.3M) & 0x573d…910e ($880K).”

Within minutes, on-chain monitoring tools confirmed that the stolen funds had been consolidated into two primary stolen ETH wallets. However, despite the speed of the exploit, the assets have not yet been routed through mixers or privacy infrastructure, leaving a clear trail for investigators to follow.

Currently, around $3.3 million in ETH sits in wallet 0xbed2…dE25, while approximately $880,000 remains in wallet 0x573d…910e. That said, the lack of movement so far does not guarantee user safety, as attackers can still redeploy funds or launch copycat attempts against similar pools.

MEV bots front-run part of the attack This case did not involve only a single malicious actor. An MEV builder also inserted itself into the transaction flow. MEV bots continuously scan the Ethereum blockchain for profitable opportunities and try to front run lucrative transactions by reordering them in blocks.

In the MakinaFi exploit details published on-chain, an MEV builder address starting with 0xa6c2 managed to slip a transaction into the same bundle as the attack. Moreover, the bot captured a small slice of the profit, approximately 0.13 ETH, highlighting how competitive and adversarial Ethereum’s trading environment has become.

However, the MEV bot’s gain was negligible compared with the hacker’s haul. The interaction nevertheless underscores that, during high-value exploits, even malicious arbitrage faces competition from automated searchers racing to capture any available spread.

Security warnings and user protections Following the breach, multiple security companies moved quickly to advise the community. Firms including PeckShield, ExVul and TenArmor urged users to revoke contract permissions and avoid interacting with MakinaFi smart contracts until further notice. Moreover, analysts stressed that users should check all DeFi approvals regularly, especially after major incidents.

So far, Makina itself has not published an official statement detailing the root cause or outlining compensation plans. However, the team is expected to work with auditors and incident response groups to reconstruct the attack path and propose fixes for the affected DUSD/USDC pool.

DeFi risk lessons from the MakinaFi exploit The makinafi exploit has reignited debate about structural risks in DeFi, particularly around stablecoin liquidity pools and complex yield strategies. MakinaFi is known for deploying advanced strategies across Curve, Aave and Uniswap, with DUSD designed to generate yield via on-chain mechanisms.

Yet the exploit shows that even sophisticated, well-engineered architectures remain exposed to design flaws, oracle issues or incentive misalignments. Flash loan-based strategies are especially dangerous, as they allow attackers to assemble huge temporary positions, execute rapid Curve Uniswap swaps and unwind them in a single block without upfront capital.

Historically, stablecoin pools have been favored targets because they aggregate deep, seemingly low-risk liquidity. In 2025 and early 2026, DeFi exploits and protocol failures have already inflicted losses measured in billions of dollars. That said, each new incident pushes developers to harden their systems and refine on-chain monitoring tools.

What it means for DeFi users going forward For everyday DeFi participants, the key takeaway is straightforward: capital deployed on-chain is never entirely safe. Even when platforms advertise conservative strategies, they may depend on complex smart contract interactions and external protocols vulnerable to flash loan attack techniques.

Users are increasingly encouraged to spread risk, limit exposure to single pools like the DUSD/USDC Curve pool and monitor approvals to all protocols, not just those in the headlines. Moreover, staying informed through reputable security channels and promptly reacting to alerts can reduce the impact of future incidents.

In the aftermath of this breach, MakinaFi, security firms and auditors will likely dissect the exploit in detail, while regulators and institutional investors watch closely. The broader lesson for the sector is clear: DeFi innovation continues to accelerate, but attackers and MEV bots are evolving just as fast.

Amelia Tomasicchiohttps://cryptonomist.ch

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.