Quarterly ResultApr 28, 2026, 04:12 PM
MBIN Q1 Net Income $67.7M (+16%); EPS $1.25 (+34%); Record Assets
AI Summary
Merchants Bancorp reported Q1 2026 net income of $67.7 million, a 16% increase year-over-year, and diluted EPS of $1.25, up 34% from Q1 2025. The company achieved record-high total assets of $20.3 billion and a record tangible book value per common share of $38.55. Asset quality continued to stabilize, with criticized loans decreasing, and the Memorandum of Understanding with the FDIC and IDFI was terminated.
Key Highlights
- Q1 2026 net income was $67.7 million, up 16% from Q1 2025.
- Diluted EPS for Q1 2026 was $1.25, a 34% increase compared to Q1 2025.
- Total assets reached a record $20.3 billion, up 8% from March 31, 2025.
- Tangible book value per common share hit a record $38.55, increasing 10% YoY.
- Criticized loans receivable decreased 31% YoY to $505.5 million.
- Core deposits increased 7% during the quarter to $12.1 billion, representing 93% of total deposits.
- The company repurchased 73,164 shares of common stock for $3.0 million.
- Memorandum of Understanding with FDIC and IDFI was terminated.