{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-007407","form_type":"8-K","ticker":"MBIN","cik":"0001629019","company_name":"Merchants Bancorp","filed_at":"2026-01-28T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.684378+00:00","generated_at":"2026-05-16T07:00:49.966319+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Merchants Bancorp Q4 net income $67.8M, up 24% QoQ but down 29% YoY; asset quality improves","bullets":["Diluted EPS $1.28, up 32% from Q3 2025 ($0.97) but down 31% from Q4 2024 ($1.85).","Tangible book value per common share record $37.51, up 10% YoY.","Criticized loans fell 13% QoQ to $508.2M; non-performing loans dropped 34% QoQ to $197.8M.","Full-year 2025 net income $218.8M, down 32% vs 2024; diluted EPS $3.78, down 40%.","Total assets hit record $19.4B, up 3% YoY; core deposits 87% of total deposits, up from 79%."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-007407","json":"https://secwatch.observer/filing/0001104659-26-007407.json","markdown":"https://secwatch.observer/filing/0001104659-26-007407.md","text":"https://secwatch.observer/filing/0001104659-26-007407.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1629019/000110465926007407/0001104659-26-007407-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1629019/000110465926007407/tm264247d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T07:00:49.966319+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"}