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	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	1,016	1,028	1,128	972.37	460.38	306.58
Interest Income on Investments	157.96	172.67	174.84	105.43	20.45	5.31
Total Interest Income	1,174	1,201	1,303	1,078	480.83	311.89
Interest Paid on Deposits	492.72	521.35	660.36	577.21	149.65	28.26
Interest Paid on Borrowings	149.78	162.44	119.74	52.52	12.64	5.64
Total Interest Expense	642.5	683.79	780.1	629.73	162.28	33.89
Net Interest Income	531.33	517.06	522.62	448.07	318.55	277.99
Net Interest Income Growth	2.50%	-1.06%	16.64%	40.66%	14.59%	24.02%
Mortgage Banking Activities	7.01	7.09	5.54	7.7	5.39	12.4
Gain (Loss) on Sale of Investments	-	-	-0.11	-	-	0.19
Other Non-Interest Income	98.41	71.94	80.41	58.78	56.39	33.56
Total Non-Interest Income	182.49	164.39	148.11	114.67	125.94	157.33
Non-Interest Income Growth	21.61%	10.99%	29.17%	-8.95%	-19.96%	23.43%
Revenues Before Loan Losses	713.82	681.45	670.73	562.74	444.49	435.33
Provision for Loan Losses	81.48	117.75	24.28	40.23	17.3	5.01
Revenue	632.34	563.69	646.45	522.51	427.19	430.32
Revenue Growth	5.73%	-12.80%	23.72%	22.31%	-0.73%	26.65%
Salaries and Employee Benefits	159.03	161.21	125.76	104.16	86.03	83.75
Occupancy Expenses	8.85	7.28	6.3	6.78	6.14	7.37
Federal Deposit Insurance	31.72	31.8	26.16	13.58	3.46	2.69
Selling, General & Administrative	32.63	31.6	31.71	25.68	19.44	11.61
Other Non-Interest Expense	77.56	68.01	33.89	24.4	20.99	19.98
Total Non-Interest Expense	309.78	299.89	223.81	174.6	136.05	125.39
EBT Excluding Unusual Items	322.56	263.8	422.64	347.91	291.14	304.93
Pretax Income	322.56	263.8	422.64	347.91	291.14	304.93
Income Tax Expense	53.97	45.03	102.26	68.67	71.42	77.83
Net Income	268.59	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	228.74	173.55	283.65	244.56	193.74	206.23
Net Income Growth	9.56%	-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	0.13%	2.08%	3.83%	0.07%	-0.02%	0.37%
EPS (Basic)	4.98	3.78	6.32	5.66	4.49	4.78
EPS (Diluted)	4.98	3.78	6.30	5.64	4.47	4.76
EPS Growth	9.55%	-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	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
Dividend Per Share	0.420	0.400	0.360	0.320	0.280	0.240
Dividend Growth	10.53%	11.11%	12.50%	14.29%	16.67%	14.29%
Effective Tax Rate	16.73%	17.07%	24.19%	19.74%	24.53%	25.52%

SEC Filings: 10-K · 10-Q