Merchants Bancorp Inc (IN)

MBIN

Equity

ISIN null / Valor 38465325

NASDAQ (2025-11-21)

USD 31.43+3.32%

Merchants Bancorp Inc (IN)
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Merchants Bancorp Inc., headquartered in Carmel, Indiana, is a diversified bank holding company with a broad range of financial services. The company operates through several subsidiaries, including Merchants Bank, Merchants Capital Corp., Merchants Capital Servicing, LLC, and Merchants Mortgage. Its business lines encompass Federal Housing Administration (FHA) multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking. As of December 31, 2023, Merchants Bancorp reported $17 billion in assets and $14.1 billion in deposits, reflecting its significant presence in the financial sector.

Summarized from source with an LLMView SourceSector: Finance

Net Income and Earnings Per Share Decline

In the second quarter of 2025, Merchants Bancorp Inc (IN) reported a net income of $38.0 million, a 50% decrease from the second quarter of 2024 and a 35% decrease from the first quarter of 2025. Diluted earnings per common share fell by 60% year-over-year and 35% sequentially.

Increased Provision for Credit Losses

The decrease in net income was largely driven by a substantial increase in the provision for credit losses, which rose by $43.1 million compared to the second quarter of 2024 and by $45.3 million compared to the first quarter of 2025. This increase was primarily due to declining multi-family property values and ongoing investigations into mortgage fraud.

Record Tangible Book Value

Tangible book value per common share reached a record-high of $35.42, marking a 13% increase from the second quarter of 2024 and a 1% rise from the first quarter of 2025. This achievement underscores the company's strong financial foundation despite challenges in the quarter.

Strong Core Deposit Growth

Core deposits grew significantly to $11.4 billion, up 7% from the previous quarter and 22% year-over-year. Core deposits now account for 90% of total deposits, the highest level since March 2022, reflecting increased customer confidence and stability in the deposit base.

Reduction in Brokered Deposits

Brokered deposits decreased by 27% from the previous quarter and by 50% year-over-year, falling to $1.3 billion. This reduction highlights the company's shift towards more stable core deposits.

Asset and Loan Growth

Total assets increased by 2% to $19.1 billion compared to both the previous quarter and the same quarter last year. Loans receivable also saw a 1% increase from the previous quarter and a similar rise year-over-year, indicating continued growth in the loan portfolio.

Summarized from source with an LLMView Source

Key figures

-20.2%1Y

26.0%3Y

74.9%5Y

Performance

36.5%1Y

38.3%3Y

36.2%5Y

Volatility