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Sep 30, 2022
Merchants Bank Q3 2022 Earnings Report
Merchants Bancorp thrived in Q3 2022, adapting to interest rate changes and preparing for profitable growth.
Key Takeaways
Merchants Bancorp reported a net income of $58.5 million, or $1.22 diluted earnings per common share, for Q3 2022. The company's performance was driven by a 24% increase in net interest income, which offset decreases in noninterest income and increases in noninterest expenses.
Net income for Q3 2022 was $58.5 million, equal to Q3 2021.
Diluted earnings per common share were $1.22 in Q3 2022, the same as in Q3 2021.
Total assets reached $12.0 billion as of September 30, 2022, an 8% increase compared to June 30, 2022.
Total deposits amounted to $10.3 billion as of September 30, 2022, a 24% increase compared to June 30, 2022.
Merchants Bank
Merchants Bank
Forward Guidance
The company did not provide specific forward guidance, but leadership expressed optimism about the remainder of 2022 and beyond.