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 Capital reported a record $8.95 billion in debt production for 2022, surpassing the previous $7 billion record in 2021. The firm experienced a 77% increase in Merchants Bank balance sheet lending, totaling over $7 billion, and a 48% rise in Freddie Mac Targeted Affordable Housing production. Affordable debt production surged by 90% to $5.9 billion, up from $3.1 billion in 2021. Merchants Capital was recognized as the #3 Multifamily Affordable Lender by the Mortgage Bankers Association and had a strong performance despite market challenges, including high inflation and interest rate volatility.
Merchants Capital's New York office achieved a record debt production of approximately $1.3 billion in 2022, highlighting its status as a top financier for diverse properties, including affordable and multifamily housing. The firm employed various loan structures to support this achievement. Merchants Capital also provided over $8.9 billion nationally for multifamily projects, demonstrating its commitment to enhancing housing accessibility across the U.S.. The leadership emphasized ongoing dedication to affordable housing development and maintaining strong relationships with clients.
Merchants Bancorp (MBIN) reported a full-year 2022 net income of $219.7 million, down 3% from 2021, with diluted earnings per share of $4.47, a decrease of 6%. For Q4 2022, net income rose 4% year-over-year to $57.2 million, but dipped 2% sequentially. Total assets grew 5% from Q3 2022 and 12% from the previous year to $12.6 billion. Loans receivable increased by 7% from Q3 2022 and 29% year-over-year. The net interest margin improved to 3.13%. However, the allowance for credit losses rose, indicating potential future risks. Brokered deposits saw significant growth, enhancing liquidity alongside a $284 million securitization deal.
Merchants Bancorp (MBIN) reported a net income of $58.5 million for Q3 2022, consistent with Q3 2021, but up 8% from Q2 2022. Diluted earnings per share also held steady at $1.22, marking a 10% increase from Q2 2022. Total assets reached $12.0 billion, up 8% from June 30, 2022. The net interest margin improved to 3.05%, up 32 basis points year-over-year. However, noninterest income fell 28%, reflecting a 24% increase in net interest income partially offset by rising expenses.
On October 5, 2022, Merchants Capital (Nasdaq: MBIN) announced the successful closure of the Merchants Capital Tax Credit Equity Fund X, L.P., raising $180 million from 15 institutional investors. This fund is the company's largest national multi-investor initiative and will finance 18 affordable housing properties, creating or preserving over 2,400 affordable homes across 12 states. With over $30 billion provided to multifamily housing since inception, Merchants Capital aims to enhance quality of life through affordable housing initiatives.
Merchants Bancorp (NASDAQ: MBIN), headquartered in Carmel, Indiana, announced the closure of a public offering of 5.2 million depositary shares, each representing a 1/40th interest in its 8.25% Series D Non-Cumulative Perpetual Preferred Stock. The offering generated approximately $125.3 million in net proceeds after expenses and underwriting fees. The underwriters also hold a 30-day option to purchase an additional 780,000 shares. Merchants Bancorp is recognized as a top-performing U.S. public bank, with $11.1 billion in assets and $8.3 billion in deposits as of June 30, 2022.
On September 23, 2022, Merchants Bancorp (NASD: MBIN) announced the pricing of a public offering of 5,200,000 depositary shares, each representing a 1/40th interest in 8.25% Fixed Rate Reset Series D Non-Cumulative Perpetual Preferred Stock. The liquidation preference is set at $25.00 per share. An additional 780,000 shares may be purchased by underwriters. Dividends are payable quarterly at 8.25% until October 1, 2027, after which they will reset based on the five-year treasury rate plus 4.34%. Proceeds will support general corporate purposes, including balance sheet growth.
On September 22, 2022, Merchants Bancorp (NASDAQ: MBIN) announced the successful completion of a $1.2 billion private securitization of first-lien floating-rate multifamily bridge loans through a real estate mortgage investment conduit (REMIC). Merchants Bank acquired approximately 86.6% of the senior certificates, while third-party investors purchased the remaining subordinated interests. This transaction is expected to reduce risk-weighted assets and provide capital relief under risk-based capital regulations. Merchants Bancorp holds $11.1 billion in assets and $8.3 billion in deposits as of June 30, 2022.
Merchants Bancorp (MBIN) reported a second quarter 2022 net income of $53.9 million, a 5% increase from 2021 and an 8% rise from the previous quarter. Diluted earnings per share also climbed to $1.11. Total assets grew 15% to $11.1 billion compared to the prior quarter. The return on average assets improved to 2.20%, with a net interest margin of 3.03%. Despite increased interest expenses and provisions for credit losses, non-performing loans remained low at 0.07%. The company repurchased $3.9 million of its shares in Q2.
Merchants Capital (NASDAQ:MBIN) announced the completion of a $214 million Commercial Mortgage Backed Securities (CMBS) securitization of 14 multifamily mortgage loans secured by 24 properties through a Freddie Mac-sponsored Q-Series transaction. This marks MCC's second such transaction following a prior $262 million deal. The portfolio is diverse, with properties located across Georgia, Indiana, Michigan, New York, and Ohio, and focuses on affordable housing. The loans are categorized as "Social Bonds" to support community impact financing.
