Merchants Bancorp (FRA:3KD)

Merchants Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	1,036	1,128	972.37	460.38	306.58	275.04
Interest Income on Investments	178.97	174.84	105.43	20.45	5.31	7.75
Total Interest Income	1,215	1,303	1,078	480.83	311.89	282.79
Interest Paid on Deposits	539.07	660.36	577.21	149.65	28.26	52.24
Interest Paid on Borrowings	162.06	119.74	52.52	12.64	5.64	6.41
Total Interest Expense	701.13	780.1	629.73	162.28	33.89	58.64
Net Interest Income	513.6	522.62	448.07	318.55	277.99	224.15
Net Interest Income Growth (YoY)	0.25%	16.64%	40.66%	14.59%	24.02%	83.28%
Mortgage Banking Activities	6.7	5.54	7.7	5.39	12.4	20.98
Gain (Loss) on Sale of Investments	-	-0.11	-	-	0.19	0.44
Other Non-Interest Income	84.98	80.41	58.78	56.39	33.56	9.47
Total Non-Interest Income	176.33	148.11	114.67	125.94	157.33	127.47
Non-Interest Income Growth (YoY)	42.87%	29.17%	-8.95%	-19.96%	23.43%	170.71%
Revenues Before Loan Losses	689.93	670.73	562.74	444.49	435.33	351.62
Provision for Loan Losses	92.68	24.28	40.23	17.3	5.01	11.84
Revenue	597.25	646.45	522.51	427.19	430.32	339.78
Revenue Growth (YoY)	-1.67%	23.72%	22.31%	-0.73%	26.65%	105.37%
Salaries and Employee Benefits	156.45	125.76	104.16	86.03	83.75	58.01
Occupancy Expenses	6.67	6.3	6.78	6.14	7.37	4.53
Federal Deposit Insurance	30.23	26.16	13.58	3.46	2.69	5.8
Selling, General & Administrative	32.16	31.71	25.68	19.44	11.61	9.11
Other Non-Interest Expense	53.94	33.89	24.4	20.99	19.98	18.97
Total Non-Interest Expense	279.45	223.81	174.6	136.05	125.39	96.42
EBT Excluding Unusual Items	317.79	422.64	347.91	291.14	304.93	243.36
Pretax Income	317.79	422.64	347.91	291.14	304.93	243.36
Income Tax Expense	71.21	102.26	68.67	71.42	77.83	62.82
Net Income	246.59	320.39	279.23	219.72	227.1	180.53
Preferred Dividends & Other Adjustments	46.9	36.73	34.67	25.98	20.87	14.47
Net Income to Common	199.69	283.65	244.56	193.74	206.23	166.06
Net Income Growth	-18.40%	14.74%	27.09%	-3.25%	25.80%	133.46%
Basic Shares Outstanding	46	45	43	43	43	43
Diluted Shares Outstanding	46	45	43	43	43	43
Shares Change (YoY)	3.50%	3.83%	0.07%	-0.02%	0.37%	0.11%
EPS (Basic)	4.36	6.32	5.66	4.49	4.78	3.85
EPS (Diluted)	4.34	6.30	5.64	4.47	4.76	3.85
EPS Growth	-27.95%	11.70%	26.17%	-6.09%	23.64%	143.67%
Dividend Per Share	0.390	0.360	0.320	0.280	0.240	0.210
Dividend Growth	11.43%	12.50%	14.29%	16.67%	14.29%	10.53%
Effective Tax Rate	22.41%	24.19%	19.74%	24.53%	25.52%	25.82%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.