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Mar 31, 2024
Merchants Bank Q1 2024 Earnings Report
Reported highest quarterly earnings, driven by loan growth and increased net interest income.
Key Takeaways
Merchants Bancorp reported a strong start to 2024, achieving record quarterly earnings. Net income increased by 58% compared to the same period in 2023, driven by loan growth and an increase in net interest income. Total assets reached nearly $18 billion.
Net income for Q1 2024 reached $87.1 million, a 58% increase compared to Q1 2023.
Total assets grew to $17.8 billion, a 25% increase year-over-year.
Return on average assets was 2.07% for Q1 2024, compared to 1.71% for Q1 2023.
Efficiency ratio decreased to 29.1%.
Merchants Bank
Merchants Bank
Merchants Bank Revenue by Segment
Revenue by Segment
Multi-family Mtg Bank Revenue
CapyFin.com 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.