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	Sep '26 Sep 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	1,023	1,028	1,128	972.37	460.38	306.58
Interest Income on Investments	159.74	172.67	174.84	105.43	20.45	5.31
Total Interest Income	1,183	1,201	1,303	1,078	480.83	311.89
Interest Paid on Deposits	482.6	521.35	660.36	577.21	149.65	28.26
Interest Paid on Borrowings	153.2	162.44	119.74	52.52	12.64	5.64
Total Interest Expense	635.8	683.79	780.1	629.73	162.28	33.89
Net Interest Income	547.44	517.06	522.62	448.07	318.55	277.99
Net Interest Income Growth	6.59%	-1.06%	16.64%	40.66%	14.59%	24.02%
Mortgage Banking Activities	6.98	7.09	5.54	7.7	5.39	12.4
Gain (Loss) on Sale of Investments	-	-	-0.11	-	-	0.19
Other Non-Interest Income	141.84	71.94	80.41	58.78	56.39	33.56
Total Non-Interest Income	220.25	164.39	148.11	114.67	125.94	157.33
Non-Interest Income Growth	24.91%	10.99%	29.17%	-8.95%	-19.96%	23.43%
Revenues Before Loan Losses	767.69	681.45	670.73	562.74	444.49	435.33
Provision for Loan Losses	64.25	117.75	24.28	40.23	17.3	5.01
Revenue	703.44	563.69	646.45	522.51	427.19	430.32
Revenue Growth	17.78%	-12.80%	23.72%	22.31%	-0.73%	26.65%
Salaries and Employee Benefits	159.98	161.21	125.76	104.16	86.03	83.75
Occupancy Expenses	9.88	7.28	6.3	6.78	6.14	7.37
Federal Deposit Insurance	28.31	31.8	26.16	13.58	3.46	2.69
Selling, General & Administrative	32.17	31.6	31.71	25.68	19.44	11.61
Other Non-Interest Expense	81.7	68.01	33.89	24.4	20.99	19.98
Total Non-Interest Expense	312.05	299.89	223.81	174.6	136.05	125.39
EBT Excluding Unusual Items	391.39	263.8	422.64	347.91	291.14	304.93
Pretax Income	391.39	263.8	422.64	347.91	291.14	304.93
Income Tax Expense	72.33	45.03	102.26	68.67	71.42	77.83
Net Income	319.07	218.77	320.39	279.23	219.72	227.1
Preferred Dividends & Other Adjustments	39.85	45.22	36.73	34.67	25.98	20.87
Net Income to Common	279.22	173.55	283.65	244.56	193.74	206.23
Net Income Growth	39.82%	-38.82%	15.98%	26.23%	-6.06%	24.19%
Basic Shares Outstanding	46	46	45	43	43	43
Diluted Shares Outstanding	46	46	45	43	43	43
Shares Change	0.16%	2.08%	3.83%	0.07%	-0.02%	0.37%
EPS (Basic)	6.08	3.78	6.32	5.66	4.49	4.78
EPS (Diluted)	6.07	3.78	6.30	5.64	4.47	4.76
EPS Growth	39.77%	-40.00%	11.70%	26.17%	-6.09%	23.64%

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 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
Dividend Per Share	0.100	0.400	0.360	0.320	0.280	0.240
Dividend Growth	-74.36%	11.11%	12.50%	14.29%	16.67%	14.29%
Effective Tax Rate	18.48%	17.07%	24.19%	19.74%	24.53%	25.52%

SEC Filings: 10-K · 10-Q