---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-083537"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2024-07-29T23:59:59+00:00"
generated_at: "2026-05-31T15:44:00.770413+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 $76.4M (+17% YoY), EPS $1.49, assets record $18.2B

## Summary
- Q2 2024 net income $76.4M (diluted EPS $1.49), up 17% YoY but down 12% QoQ.
- Total assets record $18.2B (+7% from Dec 2023); tangible book value per share $31.27, up 30% YoY.
- Completed 2.4M share offering netting $97.7M; CET1 ratio rose to 8.7%.
- Net interest income $128.1M (+21% YoY), NIM 2.99% (+2bps); efficiency ratio improved to 31.59%.
- Non-performing loans $143.5M (1.30% of loans), up from 0.80% at Dec 2023, mainly multi-family and healthcare.

## SEC filing metadata
- accession: 0001104659-24-083537
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2024-07-29T23:59:59+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/1629019/000110465924083537/0001104659-24-083537-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465924083537/tm2420314d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-083537
- JSON: https://secwatch.observer/filing/0001104659-24-083537.json
- Plain text: https://secwatch.observer/filing/0001104659-24-083537.txt

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