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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.
Forward Guidance
The company did not provide specific forward guidance, but leadership expressed optimism about the remainder of 2022 and beyond.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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