{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-111806","form_type":"8-K","ticker":"MBIN","cik":"0001629019","company_name":"Merchants Bancorp","filed_at":"2024-10-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:09.034000+00:00","generated_at":"2026-05-30T09:41:31.594144+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Merchants Bancorp Q3 net income $61.3M (-25% YoY); EPS $1.17 (-30% YoY); NPLs rise","bullets":["Diluted EPS of $1.17, down 30% YoY and 21% QoQ; net income fell 25% YoY to $61.3M.","Non-performing loans hit $210.9M (2.04% of gross loans), up from $143.5M (1.30%) at June 30.","Negative fair value adjustments on derivatives ($7.7M) and servicing rights ($6.7M) reduced EPS by $0.24.","Tangible book value per share record $32.38 (+25% YoY); total assets $18.7B (+10% vs Dec 2023).","Sold $629M healthcare bridge loans via REMIC; purchased $535M senior security with lower capital requirement."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-111806","json":"https://secwatch.observer/filing/0001104659-24-111806.json","markdown":"https://secwatch.observer/filing/0001104659-24-111806.md","text":"https://secwatch.observer/filing/0001104659-24-111806.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1629019/000110465924111806/0001104659-24-111806-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1629019/000110465924111806/tm2426947d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-30T09:41:31.594144+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}