Merchants Bancorp Ind Stock Price, News & Analysis

Merchants Bancorp (Nasdaq: MBIN) reported Q3 2025 net income of $54.7M and diluted EPS $0.97, down 17% year-over-year and up 62% sequentially. Tangible book value reached a record $36.31 per share, +12% YoY. Total assets hit a record $19.4B and loans receivable, net were $10.5B. Core deposits rose to $12.8B (+36% YTD) and now represent 92% of deposits. The provision for credit losses declined ~45% and gain on sale of loans increased 47% YoY. Unused borrowing capacity totaled $5.9B (30% of assets). Nonperforming loans increased to $298.3M (2.81% of loans) and charge-offs were $29.5M.

Merchants Bancorp (NASDAQ: MBIN) reported second quarter 2025 results with net income of $38.0 million, showing a significant 50% decrease from Q2 2024 and 35% decline from Q1 2025. The company's diluted EPS was $0.60, down 60% year-over-year.

The decline was primarily attributed to a $43.1 million increase in provision for credit losses, mainly due to multi-family property value declines and ongoing mortgage fraud investigations. Despite challenges, the company achieved a record-high tangible book value per share of $35.42, up 13% year-over-year.

Notable metrics include total assets of $19.1 billion (up 2% quarterly), core deposits reaching $11.4 billion (90% of total deposits), and completion of a $373.3 million Freddie Mac-sponsored Q-Series securitization. The company maintains strong liquidity with $5.0 billion in unused borrowing capacity.

Merchants Bancorp reported first quarter 2025 results with net income of $58.2 million, showing a decrease from both Q1 2024 ($87.1 million) and Q4 2024 ($95.7 million). Diluted earnings per share reached $0.93, down 48% year-over-year.

Key financial highlights:

• Total assets: $18.8 billion, up 5% from Q1 2024
• Core deposits: $10.7 billion, increased 30% year-over-year
• Loans receivable: $10.3 billion, decreased 3% from Q1 2024
• Tangible book value per share: Record high of $34.90, up 19% year-over-year

The decline in performance was attributed to market uncertainty delaying loan originations and conversions. Notable challenges included unfavorable fair market value adjustments to servicing rights and derivatives, impacting results by $0.05 per diluted share. The company maintains strong liquidity with $4.7 billion in unused borrowing capacity, representing 25% of total assets.

Merchants Bancorp (MBIN) reported record-breaking results for Q4 and full year 2024. Full-year net income reached $320.4 million, up 15% from 2023, with diluted EPS of $6.30, a 12% increase. Q4 2024 net income was $95.7 million, up 23% year-over-year and 56% quarter-over-quarter.

Total assets grew to $18.8 billion, an 11% increase from 2023. Tangible book value per share reached $34.15, up 25% year-over-year. The company's loan portfolio expanded to $10.4 billion, while core deposits increased by $1.3 billion to $9.4 billion.

Notable developments include completion of a 7.625% Series E Preferred Stock offering raising $222.7 million and execution of a credit default swap on $1.2 billion in warehouse loans. Non-performing loans increased to $279.7 million (2.68% of gross loans), though delinquency levels declined by $56.3 million compared to Q3 2024.

Merchants Bancorp (MBIN) announced two key developments: First, it will redeem all outstanding shares of its Series B Preferred Stock on January 2, 2025, at $25.00 per share, using cash on hand. A final dividend of $0.59 per share will be paid separately on the same date. The Series B Preferred Stock will be delisted from Nasdaq. Second, the company declared an initial quarterly dividend of $7.84 per share on its 7.625% Series E preferred stock, payable January 2, 2025, to shareholders of record on December 13, 2024.

Merchants Bancorp (MBIN) has successfully closed its previously announced public offering of 9,200,000 depositary shares. Each share represents a 1/40th interest in a share of 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock, with a $25.00 liquidation preference per depositary share. The company secured net proceeds of approximately $222.8 million after deducting estimated expenses and underwriting discounts. The offering was managed by Morgan Stanley, UBS Securities, Piper Sandler, and Raymond James as joint bookrunning managers.

Merchants Bancorp (Nasdaq: MBIN) has announced the pricing of a public offering of 9,200,000 depositary shares, each representing a 1/40th ownership interest in its 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock. Each depositary share has a liquidation preference of $25.00. Dividends will be payable quarterly at 7.625% per annum, beginning January 1, 2025. The net proceeds will be used to redeem Merchants' Series B preferred stock and support balance sheet growth of Merchants Bank. The offering is expected to close around November 25, 2024.

Merchants Bancorp (MBIN) reported Q3 2024 net income of $61.3 million, down 25% year-over-year and 20% quarter-over-quarter. Diluted EPS was $1.17, decreasing 30% YoY. Results were impacted by $14.4 million in unfavorable fair market value adjustments. Total assets reached a record $18.7 billion, up 2% from Q2 2024. Non-performing loans increased to $210.9 million (2.04% of gross loans). The company maintained strong liquidity with $5.1 billion in unused borrowing capacity and achieved a record-high tangible book value per share of $32.38, up 25% YoY.

Merchants Bancorp (NASDAQ: MBIN) has appointed Sean Sievers as its new Chief Financial Officer, effective Sept. 9, 2024. Sievers brings over 25 years of executive financial leadership in banking and mortgage industries. He previously served as CFO at Rate and held leadership roles at Countrywide, Freddie Mac, SunTrust, and Citibank. Sievers replaces John Macke, who is retiring after joining Merchants in 2017 and leading the company's IPO. Under Macke's tenure, Merchants grew from a $3 billion bank to an $18 billion institution. Sievers holds a Bachelor of Science in Accounting and is a former licensed public accountant.