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Sep 30, 2023
Merchants Bank Q3 2023 Earnings Report
Merchants Bancorp reported record earnings and asset levels.
Key Takeaways
Merchants Bancorp reported a net income of $81.5 million for Q3 2023, a 39% increase compared to Q3 2022, driven by a 38% increase in net interest income. The company achieved record earnings and asset levels during the quarter.
Net income for Q3 2023 was $81.5 million, up 39% year-over-year.
Diluted earnings per common share were $1.68, compared to $1.22 in Q3 2022.
Total assets reached $16.5 billion as of September 30, 2023, a 4% increase compared to June 30, 2023.
Net interest income increased by 38% compared to the third quarter of 2022.