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Dec 31, 2023
Merchants Bank Q4 2023 Earnings Report
Merchants Bancorp reported a net income increase driven by net interest income, partially offset by noninterest expense increase.
Key Takeaways
Merchants Bancorp reported a net income of $77.5 million for Q4 2023, an increase of 36% compared to Q4 2022. The growth was primarily driven by a 30% increase in net interest income. Total assets reached $17.0 billion, a 34% increase year-over-year.
Net income for Q4 2023 was $77.5 million, or $1.58 diluted earnings per common share.
Total assets reached $17.0 billion, a 34% increase compared to December 31, 2022.
Net interest income increased by 30% compared to Q4 2022.
Non-performing loans were $82.0 million, representing 0.80% of loans receivable.
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.