---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-084766"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T00:34:18.861728+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp Q2 net income $65.3M, EPS $1.31; credit loss provision up sharply

## Summary
- Net income $65.3M, diluted EPS $1.31, up 21% and 18% vs Q2 2022 respectively.
- Total assets $15.9B (+26% from Dec 2022); loans receivable $9.9B (+33% YTD).
- Provision for credit losses $22.6M (+$16.4M YoY) driven by $14.8M credit events: multifamily charge-off and healthcare reserve.
- Recorded $13.0M tax benefit from Indiana state tax apportionment change; expects 1.0-1.5% future tax rate reduction.
- Uninsured deposits <20% of total deposits; unused borrowing capacity $5.3B (34% of assets).

## SEC filing metadata
- accession: 0001104659-23-084766
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465923084766/0001104659-23-084766-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465923084766/tm2322055d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-084766
- JSON: https://secwatch.observer/filing/0001104659-23-084766.json
- Plain text: https://secwatch.observer/filing/0001104659-23-084766.txt

## Key facts
- Earnings Releases
  Merchants Bancorp reported second quarter 2023 results: net income $65.3 million, EPS $1.31.
  - Period: second quarter 2023
  - Net income: $65.3 million
  - EPS: $1.31
  - Result: reported results
  source text: Merchants Bancorp (the “Company” or “Merchants”) (Nasdaq: MBIN), parent company of Merchants Bank of Indiana, today reported second quarter 2023 net income of $65.3 million, or diluted earnings per common share of $1.31.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1629019/000110465923084766/0001104659-23-084766-index.htm

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