secwatch.observer — SEC 8-K summary
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Issuer:     Merchants Bancorp (MBIN)
CIK:        0001629019
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001104659-23-051440
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Merchants Bancorp Q1 net income $55M (+10% YoY); dividend raised 14% to $0.08; NPLs rise to 0.76%
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- Net income $55.0M, EPS $1.07; net interest margin expanded to 3.27% from 2.62% YoY.
- Quarterly dividend increased 14% to $0.08 per common share.
- Non-performing loans rose to 0.76% of loans from 0.08% a year ago, driven by two customers.
- Issued $158.1M senior credit linked notes in March 2023; net proceeds of $153.5M to reduce risk-weighted assets.
- Uninsured deposits under 25% of total deposits; unused borrowing capacity $4.0B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1629019/000110465923051440/0001104659-23-051440-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1629019/000110465923051440/tm2313856d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-051440

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