Merchants Bancorp Ind Stock Price, News & Analysis

Merchants Bancorp (NASDAQ: MBIN), headquartered in Carmel, Indiana, announced the closure of a public offering of 5.2 million depositary shares, each representing a 1/40th interest in its 8.25% Series D Non-Cumulative Perpetual Preferred Stock. The offering generated approximately $125.3 million in net proceeds after expenses and underwriting fees. The underwriters also hold a 30-day option to purchase an additional 780,000 shares. Merchants Bancorp is recognized as a top-performing U.S. public bank, with $11.1 billion in assets and $8.3 billion in deposits as of June 30, 2022.

On September 23, 2022, Merchants Bancorp (NASD: MBIN) announced the pricing of a public offering of 5,200,000 depositary shares, each representing a 1/40th interest in 8.25% Fixed Rate Reset Series D Non-Cumulative Perpetual Preferred Stock. The liquidation preference is set at $25.00 per share. An additional 780,000 shares may be purchased by underwriters. Dividends are payable quarterly at 8.25% until October 1, 2027, after which they will reset based on the five-year treasury rate plus 4.34%. Proceeds will support general corporate purposes, including balance sheet growth.

On September 22, 2022, Merchants Bancorp (NASDAQ: MBIN) announced the successful completion of a $1.2 billion private securitization of first-lien floating-rate multifamily bridge loans through a real estate mortgage investment conduit (REMIC). Merchants Bank acquired approximately 86.6% of the senior certificates, while third-party investors purchased the remaining subordinated interests. This transaction is expected to reduce risk-weighted assets and provide capital relief under risk-based capital regulations. Merchants Bancorp holds $11.1 billion in assets and $8.3 billion in deposits as of June 30, 2022.

Merchants Bancorp (MBIN) reported a second quarter 2022 net income of $53.9 million, a 5% increase from 2021 and an 8% rise from the previous quarter. Diluted earnings per share also climbed to $1.11. Total assets grew 15% to $11.1 billion compared to the prior quarter. The return on average assets improved to 2.20%, with a net interest margin of 3.03%. Despite increased interest expenses and provisions for credit losses, non-performing loans remained low at 0.07%. The company repurchased $3.9 million of its shares in Q2.

Merchants Capital (NASDAQ:MBIN) announced the completion of a $214 million Commercial Mortgage Backed Securities (CMBS) securitization of 14 multifamily mortgage loans secured by 24 properties through a Freddie Mac-sponsored Q-Series transaction. This marks MCC's second such transaction following a prior $262 million deal. The portfolio is diverse, with properties located across Georgia, Indiana, Michigan, New York, and Ohio, and focuses on affordable housing. The loans are categorized as "Social Bonds" to support community impact financing.

Merchants Bancorp (NASDAQ: MBIN) announced the appointment of Tamika Catchings and Thomas Dinwiddie to its board of directors. Catchings, a former WNBA star and Olympic gold medalist, brings extensive experience in sports management and community initiatives. Dinwiddie, a partner at Dinsmore & Shohl, LLP, has been a director at Merchants Bank of Indiana since 2002, specializing in real estate and mortgage banking. Their addition is expected to enhance Merchants' oversight and decision-making capabilities, reinforcing the company’s commitment to customer and community service.

Merchants Bancorp (Nasdaq: MBIN) reported a net income of $50.1 million for the first quarter of 2022, down 19% from Q1 2021. This represents a diluted earnings per share of $1.02, a decline of 24% year-over-year. Total assets decreased to $9.7 billion, reflecting a 1% decline from March 31, 2021. Notably, the return on average assets dropped to 1.92% from 2.49% a year earlier. Despite challenges, the company increased quarterly dividends by 17% to $.07 per share and is recognized as the best-performing bank among public U.S. banks over $10 billion in assets.

Merchants Bancorp (MBIN) has been recognized as the best-performing bank in the U.S. by S&P Global Market Intelligence for 2021, ranking first among public banks with over $10 billion in assets. The bank, headquartered in Carmel, Indiana, has received this accolade for seven consecutive years, indicating its strong growth, profitability, and low risk profile. As of December 31, 2021, Merchants Bancorp holds $11.3 billion in assets and has experienced a minimum annual revenue growth of 21% since 2017.

Merchants Capital announced a record $7 billion in debt production for 2021, surpassing the $4.7 billion achieved in 2020. Key growth areas included a 72% increase in FHA financing to $1.97 billion and a 143% rise in Fannie Mae and Freddie Mac production nearing $1 billion. The firm's affordable housing debt production reached $3.1 billion, a 50% year-over-year increase. Dwayne George, EVP, highlighted the dedication of the team, while the firm continues to innovate in multifamily housing financing across the U.S.