Merchants Bancorp (OQ:MBIN)

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEC
Company Contact
Address: 410 Monon Blvd
CARMEL IN 46032-2345
Tel: N/A
Website: N/A
Key People
Michael F. Petrie
Chairman of the Board, Chief Executive Officer; Chairman of Merchants Bank
Kevin T. Langford
Executive Vice President, Chief Administrative Officer
Michael J. Dunlap
President, Chief Operating Officer, Director; Chief Executive Officer of Merchants Bank
Randall D. Rogers
Vice Chairman of the Board
John F. Macke
Chief Financial Officer, Executive Vice President
Scott A. Evans
Director; President of the Lynn/Richmond market, Chief Operating Officer of Merchants Bank
Michael R. Dury
President and Chief Executive Officer of Merchants Capital
Jerry F. Koors
President of Merchants Mortgage
Susan Dehner Kucer
President - Indianapolis Market
Martin A. Schroeter
President - Warehouse Lending
Business Overview
Merchants Bancorp is a diversified bank holding company. The Company conducts its business primarily through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana. The Company's segments include Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing (through this segment it also serves as a syndicator of low-income housing tax credit and debt funds); Mortgage Warehousing that offers mortgage warehouse financing, commercial loans, and deposit services, and Banking that offers portfolio lending for multi-family and healthcare facility loans, retail and correspondent residential mortgage banking, agricultural lending, Small Business Administration (SBA) lending, and traditional community banking.
Financial Overview
For the three months ended 31 March 2024, Merchants Bancorp interest income increased 49% to $314.2M. Net interest income after loan loss provision increased 30% to $122.3M. Net income applicable to common stockholders increased 69% to $78.4M. Net interest income after loan loss provision reflects Mortgage Warehousing segment increase from $13.2M to $27.8M, Banking segment increase of 16% to $88.8M.
Employees: 618 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $2,835M as of Mar 31, 2024
Annual revenue (TTM): $1,181M as of Mar 31, 2024
EBITDA (TTM): $454.23M as of Mar 31, 2024
Net annual income (TTM): $276.66M as of Mar 31, 2024
Free cash flow (TTM): -$496.38M as of Mar 31, 2024
Net Debt Last Fiscal Year: $391.76M as of Mar 31, 2024
Shares outstanding: 45,754,718 as of May 13, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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