---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-112006"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-23T00:04:09.061640+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-22-112006
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465922112006/0001104659-22-112006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465922112006/tm2229046d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-112006
- JSON: https://secwatch.observer/filing/0001104659-22-112006.json
- Plain text: https://secwatch.observer/filing/0001104659-22-112006.txt

## Key facts
- Earnings Releases
  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
  source text: Third quarter 2022 diluted earnings per common share of $1.22
  evidence_url: https://www.sec.gov/Archives/edgar/data/1629019/000110465922112006/0001104659-22-112006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.