Merchants Bancorp reports record Q1 net income of $87.1M; EPS $1.80 (+68% YoY)

Merchants Bancorp

2024-Q1 EPS reported $1.80

Net income $87.1M (+58% YoY); diluted EPS $1.80 (+68% YoY).
Total assets $17.8B (record, +25% YoY); tangible book value $29.26/sh (+28% YoY).
Efficiency ratio improved to 29.1% from 30.3% YoY; ROAA 2.07%.
Entered $544M credit default swap on multi-family loans; sold IL branches for $0.7M gain.
Series A Preferred Stock redeemed for ~$52M; quarterly dividend raised 13% to $0.09/sh.

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 0.99

Merchants Bancorp reported first quarter of 2023 results: net income $55.0 million, EPS $1.07.

Period: first quarter of 2023
Net income: $55.0 million
EPS: $1.07
Result: reported results

Exact text from the filing

This compared to $55.0 million, or diluted earnings per common share of $1.07 in the first quarter of 2023

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Source: SEC EDGAR

accession 0001104659-24-054002

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