Merchants Bancorp Reports Third Quarter of 2026 Results
Merchants Bancorp reported Q3 2026 net income of $105.2 million, up 92% year-over-year and 34% sequentially, with diluted EPS of $2.06 rising 112% YoY. Earnings were boosted by $28.2 million and $19.1 million positive fair-value marks on servicing rights and floor derivatives, and nonperforming loans fell 12% sequentially while charge-offs dropped to $3.9 million from $16.5 million. Tangible book value per share hit a record $41.64, the 31st consecutive quarterly record, with total assets of $20.9 billion and a 13.3% total risk-based capital ratio.
Key figures
- Eps
- 2.06
- Net income
- 105181000
- Eps yoy pct
- 112
- Total assets
- 20900000000
- Total deposits
- 15000000000
- Criticized loans
- 460100000
- Efficiency ratio
- 35.35%
- Net income qoq pct
- 34
- Net income yoy pct
- 92
- Noninterest income
- 80772000
- Net interest income
- 144169000
- Net interest margin
- 2.83%
- Nonperforming loans
- 180300000
- Return on avg assets
- 1.97%
- Floor derivative fv gain
- 19100000
- Servicing rights fv gain
- 28200000
- Acquisition consideration
- 13900000
- Provision for credit losses
- 12003000
- Tangible book value per share
- 41.64
- Total risk based capital ratio
- 13.3%
AI analysis
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