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Dec 31, 2020
Merchants Bank Q4 2020 Earnings Report
Merchants Bancorp reported record-setting performance driven by growth in mortgage warehouse loans and increased gain on sale of loans.
Key Takeaways
Merchants Bancorp reported a strong fourth quarter with net income increasing by 99% compared to the same period last year, driven by growth in net interest income and gain on sale of loans. The company's investments in technology, talent, and synergistic businesses, along with conservative underwriting, allowed it to capitalize on historically low interest rates.
Net income for Q4 2020 was $59.8 million, or $1.95 diluted earnings per share.
Total assets reached $9.6 billion at the end of 2020, a 51% increase compared to 2019.
Net interest income increased by 84% compared to Q4 2019, driven by higher loan growth and a higher net interest margin.
The company reported an industry-leading efficiency ratio of 24.5% for the fourth quarter.
Forward Guidance
We are entering 2021 in a strong position to deliver financial solutions within our unique and successful business model. We remain optimistic about our future because of the hard work and dedication of our employees.
Positive Outlook
- Strong position to deliver financial solutions
- Unique and successful business model
- Optimistic about the future
- Hard work and dedication of employees
- Significant borrowing capacity
Historical Earnings Impact
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Avg. Return Before/After Earnings
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