Welcome to our dedicated page for Merchants Bancorp Ind news (Ticker: MBIN), a resource for investors and traders seeking the latest updates and insights on Merchants Bancorp Ind stock.
Merchants Bancorp (Nasdaq: MBIN) is a diversified banking leader specializing in multi-family mortgage financing, mortgage warehousing, and community banking services. This page provides centralized access to all official company announcements and third-party analysis, offering stakeholders a comprehensive view of MBIN's strategic developments.
Investors and analysts will find timely updates including earnings reports, regulatory filings, and strategic initiatives across MBIN's core segments. The curated collection features press releases on multi-family housing loan programs, mortgage warehousing operations, and community banking expansions, alongside relevant market commentary.
Content is organized to highlight material developments in:
- Government-sponsored multi-family financing
- Mortgage loan securitization activities
- Banking segment performance metrics
- Risk management innovations
- Leadership and operational updates
Bookmark this page for streamlined tracking of MBIN's financial trajectory and sector-specific developments. Combine regular reviews with SEC filings for complete due diligence.
Merchants Bancorp (MBIN) reported record-breaking results for Q4 and full year 2024. Full-year net income reached $320.4 million, up 15% from 2023, with diluted EPS of $6.30, a 12% increase. Q4 2024 net income was $95.7 million, up 23% year-over-year and 56% quarter-over-quarter.
Total assets grew to $18.8 billion, an 11% increase from 2023. Tangible book value per share reached $34.15, up 25% year-over-year. The company's loan portfolio expanded to $10.4 billion, while core deposits increased by $1.3 billion to $9.4 billion.
Notable developments include completion of a 7.625% Series E Preferred Stock offering raising $222.7 million and execution of a credit default swap on $1.2 billion in warehouse loans. Non-performing loans increased to $279.7 million (2.68% of gross loans), though delinquency levels declined by $56.3 million compared to Q3 2024.
Merchants Bancorp (MBIN) announced two key developments: First, it will redeem all outstanding shares of its Series B Preferred Stock on January 2, 2025, at $25.00 per share, using cash on hand. A final dividend of $0.59 per share will be paid separately on the same date. The Series B Preferred Stock will be delisted from Nasdaq. Second, the company declared an initial quarterly dividend of $7.84 per share on its 7.625% Series E preferred stock, payable January 2, 2025, to shareholders of record on December 13, 2024.
Merchants Bancorp (MBIN) has successfully closed its previously announced public offering of 9,200,000 depositary shares. Each share represents a 1/40th interest in a share of 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock, with a $25.00 liquidation preference per depositary share. The company secured net proceeds of approximately $222.8 million after deducting estimated expenses and underwriting discounts. The offering was managed by Morgan Stanley, UBS Securities, Piper Sandler, and Raymond James as joint bookrunning managers.
Merchants Bancorp (Nasdaq: MBIN) has announced the pricing of a public offering of 9,200,000 depositary shares, each representing a 1/40th ownership interest in its 7.625% Fixed Rate Series E Non-Cumulative Perpetual Preferred Stock. Each depositary share has a liquidation preference of $25.00. Dividends will be payable quarterly at 7.625% per annum, beginning January 1, 2025. The net proceeds will be used to redeem Merchants' Series B preferred stock and support balance sheet growth of Merchants Bank. The offering is expected to close around November 25, 2024.
Merchants Bancorp (MBIN) reported Q3 2024 net income of $61.3 million, down 25% year-over-year and 20% quarter-over-quarter. Diluted EPS was $1.17, decreasing 30% YoY. Results were impacted by $14.4 million in unfavorable fair market value adjustments. Total assets reached a record $18.7 billion, up 2% from Q2 2024. Non-performing loans increased to $210.9 million (2.04% of gross loans). The company maintained strong liquidity with $5.1 billion in unused borrowing capacity and achieved a record-high tangible book value per share of $32.38, up 25% YoY.
Merchants Bancorp (NASDAQ: MBIN) has appointed Sean Sievers as its new Chief Financial Officer, effective Sept. 9, 2024. Sievers brings over 25 years of executive financial leadership in banking and mortgage industries. He previously served as CFO at Rate and held leadership roles at Countrywide, Freddie Mac, SunTrust, and Citibank. Sievers replaces John Macke, who is retiring after joining Merchants in 2017 and leading the company's IPO. Under Macke's tenure, Merchants grew from a $3 billion bank to an $18 billion institution. Sievers holds a Bachelor of Science in Accounting and is a former licensed public accountant.
Merchants Capital (Nasdaq: MBIN) has executed a $543.5 million Credit Risk Transfer (CRT) secured by 41 performing multifamily bridge loans. This marks the company's second multifamily CRT and third overall, bringing their total securitizations to nearly $4 billion. The transaction, structured as a Credit Default Swap (CDS), includes $76 million in credit protection from a large institutional investor.
The portfolio comprises 53 properties with 7,040 units across 14 states, primarily concentrated in Indiana, South Carolina, and Illinois. This CRT supports Merchants Capital's production, which reached nearly $7 billion in 2023. Evan Gibson, EVP of Capital Markets, highlighted the platform's growth and efficiency in providing capital relief, enabling additional loan growth for the company.
Merchants Bancorp (MBIN) reported strong Q2 2024 results, with net income of $76.4 million, up 17% year-over-year but down 12% quarter-over-quarter. Diluted EPS reached $1.49, a 14% increase from Q2 2023. The company achieved record-high total assets of $18.2 billion, up 2% from Q1 2024 and 7% from year-end 2023. A successful common stock offering raised $97.7 million, boosting the common equity tier I capital ratio to 8.7%. Tangible book value per share hit a record $31.27, up 30% year-over-year. The company maintains strong liquidity with $7.0 billion in unused borrowing capacity. Loan growth continued, with net loans receivable increasing 2% quarter-over-quarter and 8% from year-end 2023. The efficiency ratio improved to 31.59% from 32.71% in Q2 2023.
Merchants Bancorp (Nasdaq: MBIN) has announced the pricing for its public offering of 2,400,000 shares of common stock at $43.00 per share. The bank expects to generate approximately $98,040,000 in gross proceeds, after deducting underwriting discounts and commissions. An additional 360,000 shares may be sold if underwriters exercise their 30-day option. Morgan Stanley leads the offering, with Piper Sandler and Raymond James as joint managers. Proceeds will support general corporate purposes and balance sheet growth. The offering is set to close around May 16, 2024, subject to customary conditions.
Merchants Bancorp (Nasdaq: MBIN) announced an underwritten public offering of 2,400,000 shares of its common stock. Morgan Stanley is the lead bookrunning manager, with Piper Sandler and Raymond James as joint bookrunning managers. Merchants Bancorp will use the proceeds to support the balance sheet growth of its banking subsidiary, Merchants Bank of Indiana, and for other general corporate purposes. The offering is made pursuant to a registration statement on Form S-3 (File No. 333-266672) effective since August 17, 2022. The underwriters have a 30-day option to purchase additional shares.
