Merchants Bancorp Q3 net income $81.5M, EPS $1.68, up 39% YoY; record assets $16.5B

Merchants Bancorp

2023-Q3 EPS reported $4.06

Net income of $81.5M, up 39% vs Q3 2022; diluted EPS $1.68, up 38% YoY.
Total assets reached $16.5B, up 31% vs Dec 2022; tangible book value $25.82 (+24% YoY).
Net interest income $117.4M (+38% YoY); efficiency ratio improved to 28.0% from 30.5%.
Completed $303.6M Freddie Mac Q-Series multi-family securitization on Aug 31, 2023.
Agreed to sell four Illinois branch locations to Bank of Pontiac and CBI Bank & Trust.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Merchants Bancorp reported the third quarter of 2023 results: revenue $16.5 billion, net income $81.5 million, EPS $1.68.

Period: the third quarter of 2023
Revenue: $16.5 billion
Net income: $81.5 million
EPS: $1.68
Result: reported results

Exact text from the filing

2023 diluted earnings per common share of $1.68 increased 38% compared to the third quarter of 2022 and increased 28% compared to the second quarter of 2023. · Total assets of $16.5 billion increased 4% compared to June 30, 2023, and increased 31% compared to December 31, 2022. · As of September 30, 2023, the Company had $5.4 billion, or 32% of total assets, in

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Source: SEC EDGAR

accession 0001104659-23-111739

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