secwatch.observer — SEC 8-K summary
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Issuer:     Merchants Bancorp (MBIN)
CIK:        0001629019
Form:       8-K
Filed at:   2026-07-28T20:05:36+00:00
Accession:  0001104659-26-087529
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Merchants Bancorp Q2 net income $78.3M, up 106% YoY; EPS $1.48, up 147% YoY; assets hit $21.2B record
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- Net income $78.3M, diluted EPS $1.48, up 106% and 147% YoY respectively.
- Total assets $21.2B (record); tangible book value $39.93 (30th consecutive quarterly high).
- Credit quality improved: criticized loans down 12% QoQ to $444.7M; provision for credit losses down 83% YoY to $9.2M.
- Net interest margin 2.81% (down 2bps YoY); gain on sale of loans down 44% YoY; loan servicing fees up 95% YoY.
- Executed credit default swap on $169.9M multi-family loan pool; total deposits $14.3B, up 10% QoQ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1629019/000110465926087529/0001104659-26-087529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1629019/000110465926087529/tm2621390d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-087529

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer