MERCHANTS BANCORP (MBINM)

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MERCHANTS BANCORP

MBINM • CIK 0001629019

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Loans and Leases	$959,714	$1,113,397	$1,007,112	$995,006
Interest Income, Debt Securities, Trading, Operating	$12,652	$14,488	$21,074	$20,869
Interest Income (Expense), Net	$448,071	$522,620	$517,059	$531,328
Interest Income, Other	$11,623	$17,908	$14,020	$13,869
Provision for Loan, Lease, and Other Losses	$40,231	$24,278	$117,754	$81,483
Interest and Dividend Income, Operating	$1,077,798	$1,302,720	$1,200,851	$1,173,831
Interest Income (Expense), after Provision for Loan Loss	$407,840	$498,342	$399,305	$449,845
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$347,907	$422,642	$263,800	$322,557
Income Tax Expense (Benefit)	$68,673	$102,256	$45,030	$53,972
Net Income (Loss) Attributable to Parent	$279,234	$320,386	$218,770	$268,585
Preferred Stock Dividends, Income Statement Impact	$34,670	$34,909	$41,062	$41,062
Preferred Stock Redemption Premium	—	$1,823	$4,156	$4,156
Net Income (Loss) Available to Common Stockholders, Basic	$244,564	$283,654	$173,552	$228,738
Interest Expense, Deposits	$577,210	$660,357	$521,348	$492,720
Interest Expense, Short-term Borrowings	—	$84,698	$130,554	$126,754
Interest Expense, Long-term Debt	—	$35,045	$31,890	$23,029
InterestExpenseOperating	—	$780,100	$683,792	$642,503
Interest Income, Debt Securities, Held-to-maturity	$69,983	$90,075	$93,133	$83,164
Gain (Loss) on Sales of Loans, Net	$48,183	$62,275	$85,362	$77,067
Fees and Commissions, Mortgage Banking and Servicing	$7,701	$5,539	$7,089	$7,014
Debt Securities, Available-for-sale, Realized Gain (Loss)	$191	$-108	$-108	$-108
Noninterest Income, Other	$20,231	$17,040	$25,928	$38,507
Noninterest Income	$114,668	$148,112	$164,388	$182,494
Labor and Related Expense	$108,181	$130,723	$166,512	$164,437
Loan Portfolio Expense	$3,409	$3,767	$4,207	$4,629
Occupancy, Net	$9,220	$8,991	$10,680	$12,378
Professional Fees	$12,704	$16,229	$12,860	$12,902
Federal Deposit Insurance Corporation Premium Expense	$13,582	$26,158	$31,796	$31,717
Communications and Information Technology	$6,515	$7,819	$10,039	$10,791
Other Noninterest Expense	$20,990	$23,805	$42,778	$48,672
Noninterest Expense	$174,601	$223,812	$299,893	$309,782
Weighted Average Number of Shares Outstanding, Basic	43,224,042	44,855,100	45,871,698	45,950,991
Weighted Average Number of Shares Outstanding, Diluted	43,345,799	45,004,786	45,942,730	46,022,601

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$15,592	$10,989	$15,844	$17,875
Interest-bearing Deposits in Banks and Other Financial Institutions	$568,830	$465,621	$196,358	$296,828
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$584,422	$476,610	$212,202	$314,703
Securities Purchased under Agreements to Resell	$3,349	$1,559	$1,520	$1,501
Debt Securities, Trading, and Equity Securities, FV-NI	$110,599	$428,206	$620,094	$407,418
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$1,113,687	$980,050	$865,058	$820,105
DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss	$1,204,217	$1,664,686	$1,543,659	$1,354,885
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance	$3,144,756	$3,771,510	$3,873,012	$4,615,894
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$10,127,801	$10,354,002	$10,951,381	$12,262,800
Property, Plant and Equipment, Net	$42,342	$58,617	$73,929	$74,664
Servicing Asset at Fair Value, Amount	$158,457	$189,935	$217,296	$236,949
Interest Receivable	$91,346	$83,409	$81,807	$82,078
Goodwill	$15,845	$8,014	$8,014	$8,014
Other Real Estate	—	—	$60,145	$72,389
Assets	$16,952,516	$18,805,732	$19,448,943	$21,229,982
Debt, Long-term and Short-term, Combined Amount	$964,127	$4,386,122	$3,842,592	$4,282,597
Other Liabilities	$205,922	$231,035	$250,500	$249,127
Liabilities	$15,251,432	$16,562,422	$17,168,184	$18,836,178
Common Stock, Value, Issued	$140,365	$240,313	$243,310	$244,345
Retained Earnings (Accumulated Deficit)	$1,063,599	$1,330,995	$1,486,191	$1,599,367
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-2,488	$-133	$-33	$-1,199
Stockholders' Equity Attributable to Parent	$1,701,084	$2,243,310	$2,280,759	$2,393,804
Noninterest-bearing Deposit Liabilities	$520,070	$239,005	$604,081	$606,682
Interest-bearing Deposit Liabilities	$13,541,390	$11,680,971	$12,437,111	$13,647,632
Deposits	$14,061,460	$11,919,976	$13,041,192	$14,254,314
DebtSecuritiesAvailableForSaleExcludingAccruedInterestCurrent	$722,497	$635,946	$571,314	$527,676
Debt Securities, Held-to-maturity, Fair Value	$1,203,535	$1,664,674	$1,543,554	$1,353,543
Loans Held-for-sale, Fair Value Disclosure	$86,663	$78,170	$76,980	$148,368
Loans Receivable, Fair Value Disclosure	—	—	$47,318	$46,024
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$71,752	$84,386	$83,301	$75,803
Common Stock, Shares Authorized	75,000,000	75,000,000	75,000,000	75,000,000
Common Stock, Shares, Issued	43,242,928	45,767,166	45,893,172	45,938,075
Preferred Stock, Shares Authorized	5,000,000	5,000,000	5,000,000	5,000,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$279,234	$320,386	$218,770	$268,585
Increase (Decrease) in Other Operating Assets and Liabilities, Net	$-4,068	$-7,245	$-30,526	$-35,590
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$358,258	$-107,812	$-264,408	$-332,462
Net Cash Provided by (Used in) Operating Activities	$-356,402	$-835,278	$-341,248	$-752,146
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$584,422	$476,610	$212,202	$-225,879
Depreciation	$2,852	$3,014	$3,465	$4,691
Proceeds from (Payments for) Securities Purchased under Agreements to Resell	$115	$1,790	$39	$38
Provision for Loan, Lease, and Other Losses	$40,231	$24,278	$117,754	$81,483
Payments to Acquire Debt Securities, Available-for-sale	$1,291,874	$784,238	$743,739	$659,608
Deferred Income Tax Expense (Benefit)	$-2,442	$4,630	$7,778	$7,778
Payments to Acquire Held-to-maturity Securities	$293,268	$155,268	$259,580	$259,580
Payments to Acquire Mortgage Servicing Rights (MSR)	$2,057	$2,057	$14,482	$14,537
Gain (Loss) on Sales of Loans, Net	$48,183	$62,275	$85,362	$77,067
PaymentsToAcquireEquitySecuritiesFvNi	—	$30,000	$1,198	$1,198
Proceeds from Sale of Loans Held-for-sale	$22,136,235	$29,369,459	$45,074,426	$45,074,426
Proceeds from Sale of Debt Securities, Available-for-sale	$1,516	$9,983	$0	$0
Payments for Origination and Purchases of Loans Held-for-sale	$22,713,037	$30,067,696	$45,314,197	$55,840,462
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$489,602	$897,336	$870,940	$772,843
Proceeds from Maturities, Prepayments and Calls of Held-to-maturity Securities	$208,129	$229,451	$380,785	$453,068
Payments to Acquire Loans Held-for-investment	$358,462	$108,620	$67,455	$76,396
Payments to Acquire Loans Receivable	$2,047,806	$671,367	$742,487	$1,579,393
Proceeds from Sale of Loans Receivable	$65,768	$77,931	$431,520	$100,486
Payments to Acquire Federal Home Loan Bank Stock	$9,448	$139,620	$8,587	$8,587
Proceeds from Sale of Federal Home Loan Bank Stock	$784	$394	$394	$394
Payments to Acquire Property, Plant, and Equipment	$7,528	$18,391	$20,941	$13,169
Payments to Acquire Limited Partnership Interests	$18,762	$23,301	$28,389	$-3,072
Payments for (Proceeds from) Businesses and Interest in Affiliates	$464	$170,594	$170,594	$170,594
Payments for (Proceeds from) Other Investing Activities	$-1,937	$-10,239	$-7,903	$-10,279
Net Cash Provided by (Used in) Investing Activities	$-3,260,081	$-874,275	$-195,671	$-1,272,636
Increase (Decrease) in Debt Securities, Trading, and Equity Securities, FV-NI	$-43,595	$317,607	$191,888	$4,991
Increase (Decrease) in Deposits	$3,990,115	$-1,911,648	$878,651	$1,485,341
Increase (Decrease) in Other Operating Assets	$85,181	$20,781	$31,667	$-15,646
Proceeds from Issuance of Debt	$95,570,319	$166,316,878	$323,574,587	$334,404,545
Increase (Decrease) in Other Operating Liabilities	$41,516	$-12,981	$3,007	$6,045
Repayments of Debt	$95,700,385	$162,866,240	$324,033,758	$333,558,845
Proceeds from Notes Payable	$64,922	$6,878	$6,878	$6,878
Repayments of Notes Payable	$21,000	$21,000	$21,000	$21,000
Proceeds from Issuance of Common Stock	—	$97,655	$97,655	$97,655
Proceeds from Issuance of Preferred Stock and Preference Stock	$137,459	$222,748	$222,748	$222,748
Payments for Repurchase of Preferred Stock and Preference Stock	$41,625	$52,044	$52,044	$52,044
Payments of Dividends	$48,506	$51,167	$59,418	$60,348
Net Cash Provided by (Used in) Financing Activities	$3,974,741	$1,601,741	$272,511	$1,692,320
Interest Paid, Excluding Capitalized Interest, Operating Activities	$609,689	$789,047	$692,922	$645,759
Income Taxes Paid, Net	$67,388	$79,578	$47,636	$-11,279
Capital Expenditures Incurred but Not yet Paid	—	—	$185	$185

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Import this data to Google Sheets with:

=jivedata("MBINM","financials")

Full statements spill as a table. For one cell: =jivedata("MBINM","Revenue") or =jivedata("MBINM","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.