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Dec 31, 2021
Merchants Bank Q4 2021 Earnings Report
Reported increased assets and deposits, but decreased net income compared to the previous year's quarter, driven by higher expenses.
Key Takeaways
Merchants Bancorp reported a net income of $55.2 million for Q4 2021, a decrease compared to both Q4 2020 and Q3 2021. While total assets and deposits increased, the net income was impacted by higher noninterest expenses, particularly salaries and employee benefits.
Net income for Q4 2021 was $55.2 million, or $1.71 per diluted share.
Total assets reached $11.3 billion as of December 31, 2021, representing a 17% increase year-over-year.
Total deposits amounted to $9.0 billion at the end of Q4 2021, up 21% compared to the previous year.
Noninterest expense increased by 37% compared to Q4 2020, primarily due to higher salaries and employee benefits.
Merchants Bank
Merchants Bank
Forward Guidance
This press release contains forward-looking statements which reflect management’s current views with respect to, among other things, future events and financial performance.