Merchants Bancorp Ind Stock Price, News & Analysis

Merchants Bancorp (MBIN) reported second quarter 2021 net income of $51.4 million ($1.58 per share), up 25% from Q2 2020. However, this was a 17% decline from Q1 2021, influenced by a 10% dip in net interest income. Interest income rose 6% year-over-year, driven by higher loan balances, but fell 9% from the prior quarter. Total assets reached $9.9 billion, and non-performing loans dropped to 0.05%. Total deposits decreased slightly from Q1 but increased 9% year-over-year. The efficiency ratio stood at 29.0%, reflecting strong cost management.

Merchants Capital has achieved significant recognition in the Mortgage Bankers Association's 2020 Commercial/Multifamily Originator Listing, ranking #4 in multifamily affordable lending nationally with $2.2 billion in closed loans across 188 transactions. The Indianapolis office ranked #1, closing $3.2 billion in 287 transactions. Merchants Capital financed $4.8 billion in total in 2020, with nearly half targeting affordable housing. The company experienced a substantial 106% increase in production year-over-year, indicating strong growth momentum.

Merchants Bancorp (Nasdaq: MBIN) reported record first quarter 2021 net income of $62.0 million, or $2.02 per share, up 152% from $24.6 million a year earlier. This growth was driven by an 88% increase in net interest income, totaling $72.0 million, bolstered by strong multi-family and mortgage warehouse loans. Total assets rose 23% year-over-year to $9.7 billion, with loan receivables increasing by 63%. However, the allowance for loan losses increased to $29.1 million due to loan growth and pandemic uncertainties. The company maintains strong liquidity with $3.7 billion in unused credit lines.

Merchants Bancorp (Nasdaq: MBIN) has successfully closed its public offering of 6,000,000 depositary shares, each representing a 1/40th interest in its 6.00% Fixed Rate Series C Non-Cumulative Perpetual Preferred Stock. The offering raised approximately $144.9 million, net of expenses and underwriting fees. Morgan Stanley & Co. LLC and UBS Securities LLC were the joint book runners, with Piper Sandler and others as co-managers. Merchants Bancorp, headquartered in Carmel, Indiana, operates in multiple banking sectors, boasting $9.6 billion in assets and $7.4 billion in deposits as of December 31, 2020.

Merchants Bancorp (Nasdaq: MBIN) priced an underwritten public offering of 6,000,000 depositary shares, each representing a 1/40th interest in its 6.00% Fixed Rate Series C Non-Cumulative Perpetual Preferred Stock. The liquidation preference is $25.00 per share, with dividends payable quarterly starting July 1, 2021. Proceeds from the offering will be used for the redemption of 8% Non-Cumulative Preferred Stock totaling $41.625 million, subject to Federal Reserve approval, along with general corporate purposes. Morgan Stanley and UBS are the joint book runners for this offering.

Merchants Bancorp (Nasdaq: MBIN) has announced its quarterly cash dividends for Q1 2021. The Board declared a dividend of $0.09 per share on common stock, reflecting a 13% increase from Q4 2020. Additionally, a dividend of $0.4375 per share on 7% Series A preferred stock (Nasdaq: MBINP) and $15.00 per share on 6% Series B preferred stock (Nasdaq: MBINO) were declared. Shareholders of record on March 15, 2021, will receive these payments on April 1, 2021.

Merchants Bancorp (Nasdaq: MBIN) reported a robust fourth quarter 2020 with net income of $59.8 million, or $1.95 per share, marking a 99% increase year-over-year. This growth was largely driven by an 84% rise in net interest income, propelled by significant mortgage warehouse loan growth and an 88% increase in loan sale gains. Total assets surged by 51% to $9.6 billion, reflecting strong increases in loans held for sale. Despite a rise in loan loss provisions due to COVID-19 uncertainties, the company maintained a strong liquidity position with unused credit lines of $2.6 billion.

Merchants Bancorp (Nasdaq: MBIN) reported a third quarter 2020 net income of $55.0 million ($1.79 per share), a 171% increase from Q3 2019. Driven by a $32.7 million rise in net interest income, the company experienced substantial growth in mortgage warehouse loans. Total assets reached $9.5 billion, up 50% year-over-year. The allowance for loan losses grew to $23.4 million, reflecting growth in the loan portfolio amid COVID-19 uncertainties. The efficiency ratio stood at 25.4%, showcasing robust operational performance.

Merchants Bancorp reported a remarkable second quarter with a net income of $41.2 million ($1.31 per share), a significant increase from $16.4 million ($0.51 per share) year-on-year and $24.6 million ($0.73 per share) from Q1 2020. The surge in net income, up 150% year-on-year, was fueled by an 83% rise in net interest income driven by mortgage warehouse loans and an 88% increase in loan sales. Total assets reached $9.4 billion, reflecting a strong growth in loans due to lower interest rates. The allowance for loan losses rose to $20.5 million amid COVID-19 uncertainties.