Loading...
•
Mar 31, 2022
Merchants Bank Q1 2022 Earnings Report
Reported a decrease in net income primarily due to decreases in noninterest income and net interest income.
Key Takeaways
Merchants Bancorp reported a net income of $50.1 million for Q1 2022, a decrease compared to both Q1 2021 and Q4 2021. The decrease was primarily driven by lower noninterest income and net interest income, reflecting declines in gain on sale of loans and lower loan balances.
Net income for the first quarter 2022 was $50.1 million, or $1.02 diluted earnings per common share.
Return on average assets was 1.92% for the first quarter of 2022.
Total assets decreased to $9.7 billion at March 31, 2022.
Total deposits decreased to $7.5 billion at March 31, 2022.
Merchants Bank
Merchants Bank
Forward Guidance
This press release contains forward-looking statements which reflect management’s current views with respect to, among other things, future events and financial performance.