Merchants Bancorp Q3 net income $58.5M flat YoY; TBV up 23% to $20.78; NIM expands 32 bps

Merchants Bancorp

2022-Q3 EPS reported $3.36

Net income $58.5M, diluted EPS $1.22, flat YoY; up 8% and 10% QoQ respectively.
Total assets $12.0B, up 8% from June 30, 2022; net interest margin 3.05% vs 2.73% YoY.
Completed $137.4M Series D preferred offering; sold $1.2B loans via REMIC, bought $1.0B HTM security.
Non-performing loans rose to 0.38% of loans from 0.07% in Q2, due to one fully collateralized healthcare loan.
Tangible book value per share $20.78, up 23% YoY; ROAA 2.05% vs 2.29% YoY.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Merchants Bancorp reported the third quarter of 2022 results: net income $58.5 million, EPS diluted earnings per common share of $1.22.

Period: the third quarter of 2022
Net income: $58.5 million
EPS: diluted earnings per common share of $1.22
Result: reported results

Exact text from the filing

Third quarter 2022 diluted earnings per common share of $1.22

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Source: SEC EDGAR

accession 0001104659-22-112006

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