Welcome to our dedicated page for Merchants Bancorp news (Ticker: MBIN), a resource for investors and traders seeking the latest updates and insights on Merchants Bancorp stock.
Merchants Bancorp reports developments as a registered bank holding company and parent of Merchants Bank of Indiana, with news centered on commercial banking, mortgage banking, and capital actions. Updates commonly cover quarterly earnings, net interest income, loan growth in multi-family and warehouse portfolios, healthcare loan exposure, gain on sale of loans, and asset quality measures such as criticized loans, provisions, charge-offs, and allowances for credit losses.
Corporate news also includes common and preferred dividends, preferred-stock redemptions, and share repurchase authorization. The company’s public updates identify common stock under MBIN and depositary shares for Series C, Series D, and Series E preferred stock under related Nasdaq symbols.
Merchants Bancorp (Nasdaq: MBIN) announced an underwritten public offering of 2,400,000 shares of its common stock. Morgan Stanley is the lead bookrunning manager, with Piper Sandler and Raymond James as joint bookrunning managers. Merchants Bancorp will use the proceeds to support the balance sheet growth of its banking subsidiary, Merchants Bank of Indiana, and for other general corporate purposes. The offering is made pursuant to a registration statement on Form S-3 (File No. 333-266672) effective since August 17, 2022. The underwriters have a 30-day option to purchase additional shares.
Merchants Bancorp reported record-breaking first quarter 2024 results, with net income of $87.1 million, a 58% increase from 2023, and diluted earnings per share of $1.80, a 68% increase from 2023. Total assets reached $17.8 billion, a 25% increase from 2023. The Company's efficiency ratio improved to 29.1% in Q1 2024, and quarterly dividends increased by 13%. Merchants executed a credit default swap on a $544 million pool of multi-family mortgage loans to reduce risk-based capital requirements.
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