Loading...
•
Jun 30, 2022
Merchants Bank Q2 2022 Earnings Report
Reported an increase in net income driven by interest income and fair market value adjustment to mortgage servicing rights.
Key Takeaways
Merchants Bancorp reported a net income of $53.9 million for Q2 2022, an increase compared to both Q2 2021 and Q1 2022. The company highlighted its successful capital management, industry-leading return on average assets, and efficiency ratio.
Net income for the second quarter 2022 was $53.9 million, or $1.11 diluted earnings per common share.
Return on average assets was 2.20% for the second quarter of 2022.
Total assets reached $11.1 billion as of June 30, 2022.
Total deposits amounted to $8.3 billion as of June 30, 2022.
Merchants Bank
Merchants Bank
Forward Guidance
The company anticipates continued strength in the second half of 2022 and beyond.