Mercantile Bankshares Inc., showing only limited signs of weakness in its real estate portfolio, said yesterday that its income rose slightly during the third quarter compared with the same period a year ago.
The company, which owns Mercantile-Safe Deposit and Trust Co. in Baltimore and 17 other community banks, said it earned $15.9 million, or 57 cents a share, for the three months that ended Sept. 30. That compared with income of $15.8 million, or 57 cents a share, during the same period last year.
Mercantile's stock, traded on NASDAQ, closed yesterday at $14.25, down 50 cents.
The company increased the amount it set aside to cover possible loan losses by 104 percent, to $4.45 million from $2.18 million last year.