earnings
confidence high
sentiment negative
materiality 0.75
Merchants Bancorp Q1 net income falls 33% YoY to $58.2M; EPS $0.93 down 48%
Merchants Bancorp
2025-Q1 EPS reported
$0.93
- Q1 2025 net income $58.2M, down 33% YoY; diluted EPS $0.93, down 48% from $1.80.
- Net interest margin 2.89%, down 25bps YoY; charge-offs $10.5M vs $0.9M in Q1 2024.
- Non-performing loans $284.6M, 2.73% of loans receivable, up from 1.22% a year ago.
- Core deposits grew 30% YoY to $10.7B; brokered deposits down 70% to $1.7B.
- Tangible book value per share record $34.90, up 19% YoY; Series B preferred redeemed for $125M.