Merchants Financial Group, Inc. (MFGI)

Merchants Financial Group Balance Sheet

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
Cash & Equivalents	213.99	177.79	39.06	227.47	849.82	423.97
Investment Securities	-	7.09	8.06	38.53	6.64	10.54
Trading Asset Securities	-	0.94	1.24	1.5	0.07	0.77
Mortgage-Backed Securities	377.5	312.12	231.87	273.67	197.44	112.1
Total Investments	377.5	320.15	241.17	313.7	204.15	123.41
Gross Loans	2,052	2,118	2,163	1,881	1,613	1,786
Allowance for Loan Losses	-27.67	-28.49	-28.15	-26.11	-28.65	-31.62
Other Adjustments to Gross Loans	-	-3.2	-3.62	-3.35	-5.32	-9.47
Net Loans	2,025	2,086	2,132	1,852	1,579	1,745
Property, Plant & Equipment	36.2	41.73	46.09	47.95	45.12	39.97
Goodwill	35.67	35.67	35.67	35.67	35.67	35.67
Other Intangible Assets	-	0.05	0.32	0.8	1.49	2.41
Loans Held for Sale	12.88	1.05	1.93	6.2	24.07	38.37
Accrued Interest Receivable	31.11	31.99	18.93	13.83	14.14	14.5
Other Real Estate Owned & Foreclosed	2.07	6.46	1.01	0.81	1.12	2.71
Other Long-Term Assets	80.99	80.93	84.52	82	72.12	68.53
Total Assets	2,823	2,782	2,600	2,580	2,827	2,495
Interest Bearing Deposits	1,982	1,807	1,592	1,573	1,838	1,566
Institutional Deposits	-	153.2	99.94	48.71	59.25	69.4
Non-Interest Bearing Deposits	468.98	463.17	482.29	635.85	620.99	556.8
Total Deposits	2,451	2,424	2,174	2,257	2,519	2,192
Short-Term Borrowings	15.08	15.06	109.75	12.02	1.7	12.72
Current Portion of Long-Term Debt	-	10	-	-	-	-
Accrued Interest Payable	25.8	25.45	15.02	13.29	16.91	12.48
Long-Term Debt	30.33	30.25	35.61	53.37	55.79	58.67
Long-Term Deferred Tax Liabilities	-	1.87	1.62	3.23	3.37	8.46
Total Liabilities	2,523	2,506	2,336	2,339	2,596	2,284
Common Stock	0.07	0.07	0.07	0.07	0.07	0.07
Additional Paid-In Capital	10.24	10.24	10.27	10.26	10.14	10.06
Retained Earnings	306.2	286.01	273.17	254.09	228.63	206.82
Comprehensive Income & Other	-15.77	-20.6	-19.58	-23.25	-8.2	-6.16
Shareholders' Equity	300.73	275.72	263.94	241.16	230.64	210.79
Total Liabilities & Equity	2,823	2,782	2,600	2,580	2,827	2,495
Total Debt	45.41	55.31	145.37	65.39	57.49	71.39
Net Cash (Debt)	168.58	123.43	-105.08	163.58	792.39	353.35
Net Cash Growth	182.76%	-	-	-79.36%	124.25%	8978.80%
Net Cash Per Share	21.27	15.57	-13.29	20.72	100.37	44.28
Filing Date Shares Outstanding	7.93	7.93	7.96	8.18	7.92	7.91
Total Common Shares Outstanding	7.93	7.93	7.96	8.18	7.92	7.91
Book Value Per Share	37.93	34.77	33.16	29.49	29.11	26.66
Tangible Book Value	265.07	240	227.95	204.7	193.48	172.72
Tangible Book Value Per Share	33.43	30.27	28.64	25.03	24.42	21.84

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