Merchants Financial Group Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Interest Income on Loans	116.21	115.82	118.2	101.88	80.22	81.13
Interest Income on Investments	25.1	22.1	12.5	12.62	14.05	4.52
Total Interest Income	141.31	137.92	130.71	114.5	94.27	85.65
Interest Paid on Deposits	45.4	48.9	45.83	27.78	6.1	6.66
Interest Paid on Borrowings	1.98	2.31	4.18	3.66	2.22	1.65
Total Interest Expense	47.38	51.21	50.01	31.44	8.32	8.31
Net Interest Income	93.93	86.71	80.7	83.06	85.95	77.34
Net Interest Income Growth	11.99%	7.45%	-2.85%	-3.36%	11.13%	0.15%
Trust Income	3.85	3.41	3.15	2.75	2.37	2.25
Gain (Loss) on Sale of Assets	0.26	0.25	-	-	-0.02	-0.57
Gain (Loss) on Sale of Investments	0.02	0.11	-1.18	-0.13	-	-
Other Non-Interest Income	27.23	27.83	26.78	24.56	22.39	21.41
Total Non-Interest Income	37.25	36.49	31.73	29.3	27.97	40.36
Non-Interest Income Growth	11.39%	15.01%	8.29%	4.75%	-30.70%	-8.79%
Revenues Before Loan Losses	131.19	123.2	112.43	112.36	113.92	117.7
Provision for Loan Losses	0.15	-1.59	10.1	1.38	-2.28	-2.21
Revenue	131.04	124.78	102.33	110.98	116.2	119.91
Revenue Growth	19.79%	21.95%	-7.80%	-4.49%	-3.10%	10.91%
Salaries and Employee Benefits	42.73	41.79	38.8	40.05	39.8	41.68
Occupancy Expenses	3.45	4.11	5.09	4.92	-	-
Amortization of Goodwill & Intangibles	3.05	3.14	2.66	3.05	3.38	5.58
Selling, General & Administrative	16.61	16.61	15.88	15.21	19.36	19.83
Other Non-Interest Expense	20.57	18.08	15.48	13.78	12.66	13.66
Total Non-Interest Expense	86.41	83.74	77.91	77.01	75.2	80.75
EBT Excluding Unusual Items	44.63	41.05	24.41	33.97	40.99	39.17
Pretax Income	44.63	41.05	24.41	33.97	40.99	39.17
Income Tax Expense	9.9	8.67	5.87	8.47	10.57	10.39
Net Income	34.73	32.38	18.54	25.5	30.42	28.78
Net Income to Common	34.73	32.38	18.54	25.5	30.42	28.78
Net Income Growth	54.10%	74.65%	-27.30%	-16.18%	5.72%	33.78%
Basic Shares Outstanding	-	8	8	8	8	8
Diluted Shares Outstanding	-	8	8	8	8	8
Shares Change	-	-0.30%	0.24%	0.16%	0.00%	-1.07%
EPS (Basic)	-	4.10	2.34	3.23	3.85	3.65
EPS (Diluted)	-	4.10	2.34	3.23	3.85	3.65
EPS Growth	-	75.17%	-27.47%	-16.31%	5.72%	35.22%
Dividend Per Share	0.410	0.790	0.720	0.700	0.630	0.550
Dividend Growth	-44.59%	9.72%	2.86%	11.11%	14.54%	10.00%
Effective Tax Rate	22.18%	21.12%	24.06%	24.93%	25.78%	26.53%