Merchants Bancorp 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	Mar '26 Mar 31, 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
Net Interest Income	523.51	517.06	522.62	448.07	318.55	277.99
Net Interest Income Growth	1.11%	-1.06%	16.64%	40.66%	14.59%	24.02%
Non-Interest Income	187.29	164.39	148.11	114.67	125.94	157.33
Non-Interest Income Growth	43.05%	10.99%	29.17%	-8.95%	-19.96%	23.43%
Revenues Before Loan Losses	710.81	681.45	670.73	562.74	444.49	435.33
Provision for Credit Losses	125.33	117.75	24.28	40.23	17.3	5.01
Revenue	585.48	563.69	646.45	522.51	427.19	430.32
Revenue Growth (YoY)	-5.78%	-12.80%	23.72%	22.31%	-0.73%	26.65%
Compensation Expenses	168.66	166.51	130.72	108.18	89.09	85.73
Selling, General & Admin	34.49	33.58	33.04	28.44	22.52	16.99
Other Non-Interest Expenses	110.73	99.8	60.05	37.98	24.45	22.67
Total Non-Interest Expense	313.87	299.89	223.81	174.6	136.05	125.39
Pretax Income	271.61	263.8	422.64	347.91	291.14	304.93
Provision for Income Taxes	43.35	45.03	102.26	68.67	71.42	77.83
Net Income	188.42	173.55	283.65	244.56	193.74	206.23
Net Income Attributable to Preferred Dividends	39.85	45.22	36.73	34.67	25.98	20.87
Net Income to Common	188.42	173.55	283.65	244.56	193.74	206.23
Net Income Growth	-23.99%	-38.82%	15.98%	26.23%	-6.06%	24.19%
Shares Outstanding (Basic)	46	46	45	43	43	43
Shares Outstanding (Diluted)	46	46	45	43	43	43
Shares Change (YoY)	0.77%	2.08%	3.83%	0.07%	-0.02%	0.37%
EPS (Basic)	4.10	3.78	6.32	5.66	4.49	4.78
EPS (Diluted)	4.10	3.78	6.30	5.64	4.47	4.76
EPS Growth	-24.63%	-40.00%	11.70%	26.17%	-6.09%	23.64%
Shares Outstanding	45.94	45.89	45.77	43.24	43.11	43.18
Free Cash Flow	-1,102	-362.19	-853.67	-363.93	969.01	-52.86
Free Cash Flow Per Share	-23.97	-7.88	-18.97	-8.40	22.37	-1.22
Dividends Per Share	0.300	0.400	0.360	0.320	0.280	0.240
Dividend Growth	-25.00%	11.11%	12.50%	14.29%	16.67%	14.29%
Profit Margin	38.99%	38.81%	49.56%	53.44%	51.43%	52.78%
FCF Margin	-188.19%	-64.25%	-132.05%	-69.65%	226.83%	-12.28%
EBITDA	4.07	3.47	3.01	2.85	2.49	2.19
EBITDA Margin	0.69%	0.61%	0.47%	0.55%	0.58%	0.51%
Effective Tax Rate	15.96%	17.07%	24.19%	19.74%	24.53%	25.52%

Updated May 7, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q