Merchants Bancorp Reports Record Q4 Net Income of $95.7M; Full Year EPS $6.30

Merchants Bancorp

2024-FY EPS reported $6.30

Full year 2024 net income $320.4M (record), up 15% YoY; diluted EPS $6.30 (record), up 12%.
Q4 net income $95.7M, up 23% YoY and 56% QoQ; diluted EPS $1.85.
Total assets $18.8B (record), up 11% YoY; tangible book value $34.15 (record), up 25%.
Nonperforming loans increased to $279.7M (2.68%) from $210.9M (2.04%) QoQ and $82.0M (0.80%) YoY.
Completed Series E preferred offering ($222.7M net) and redeemed Series B preferred ($125M) on Jan 2, 2025.

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