Merchants Bancorp - MBIN STOCK NEWS

Merchants Bancorp (MBIN) has been recognized as the best-performing bank in the U.S. by S&P Global Market Intelligence for 2021, ranking first among public banks with over $10 billion in assets. The bank, headquartered in Carmel, Indiana, has received this accolade for seven consecutive years, indicating its strong growth, profitability, and low risk profile. As of December 31, 2021, Merchants Bancorp holds $11.3 billion in assets and has experienced a minimum annual revenue growth of 21% since 2017.

Merchants Capital announced a record $7 billion in debt production for 2021, surpassing the $4.7 billion achieved in 2020. Key growth areas included a 72% increase in FHA financing to $1.97 billion and a 143% rise in Fannie Mae and Freddie Mac production nearing $1 billion. The firm's affordable housing debt production reached $3.1 billion, a 50% year-over-year increase. Dwayne George, EVP, highlighted the dedication of the team, while the firm continues to innovate in multifamily housing financing across the U.S.

Merchants Bancorp (Nasdaq: MBIN) reported a fourth-quarter 2021 net income of $55.2 million or $1.71 per diluted share, a decline from $59.8 million in Q4 2020. Noninterest expenses rose 37% driven by higher salaries, impacting profitability. However, net interest income grew 5% year-over-year, reaching $72.7 million. Total assets increased to $11.3 billion, a 17% rise from the previous year. Despite challenges in income and expenses, the company noted strong growth in deposits and a solid business model focused on conservative underwriting.

Merchants Capital, under Nasdaq: MBIN, has successfully closed two tax credit equity funds, raising over $233.4 million. Merchants Fund V, with $172.5 million from 16 institutional investors, aims to enhance affordable housing by creating or preserving 1,958 homes across 11 states. Additionally, Merchants Fund III, worth $60.9 million, will invest in eight projects in three states, generating 593 affordable homes in San Antonio and Kansas City. The funds exemplify Merchants Capital's commitment to affordable housing and its extensive capital provision of over $22 billion since inception.

Merchants Bancorp (MBIN) has announced the renewal and increase of its stock repurchase program, allowing for up to $75 million in common stock buybacks, set to expire on December 31, 2023. This program gives Merchants the flexibility to acquire shares at management's discretion, reinforcing its commitment to enhancing shareholder value. The decision comes despite the potential impact of market conditions and regulatory compliance on the buyback process. As of September 30, 2021, Merchants Bancorp reported $11.0 billion in assets and $8.9 billion in deposits.

Merchants Bancorp (MBIN) reported a robust net income of $58.5 million for Q3 2021, up 6% from Q3 2020 and 14% from Q2 2021. The company reached total assets of $11.0 billion, with a 2.29% return on average assets. Notably, net interest income increased by 5% year-over-year, driven by a 23% decrease in deposit costs. Noninterest income also rose 4% year-over-year. The allowance for loan losses grew moderately, reflecting expansion in the multi-family portfolio. Merchants continues to enhance its product range and customer base, positioning itself for future growth.

Merchants Bancorp (MBIN) reported second quarter 2021 net income of $51.4 million ($1.58 per share), up 25% from Q2 2020. However, this was a 17% decline from Q1 2021, influenced by a 10% dip in net interest income. Interest income rose 6% year-over-year, driven by higher loan balances, but fell 9% from the prior quarter. Total assets reached $9.9 billion, and non-performing loans dropped to 0.05%. Total deposits decreased slightly from Q1 but increased 9% year-over-year. The efficiency ratio stood at 29.0%, reflecting strong cost management.

Merchants Capital has achieved significant recognition in the Mortgage Bankers Association's 2020 Commercial/Multifamily Originator Listing, ranking #4 in multifamily affordable lending nationally with $2.2 billion in closed loans across 188 transactions. The Indianapolis office ranked #1, closing $3.2 billion in 287 transactions. Merchants Capital financed $4.8 billion in total in 2020, with nearly half targeting affordable housing. The company experienced a substantial 106% increase in production year-over-year, indicating strong growth momentum.

Merchants Bancorp (Nasdaq: MBIN) reported record first quarter 2021 net income of $62.0 million, or $2.02 per share, up 152% from $24.6 million a year earlier. This growth was driven by an 88% increase in net interest income, totaling $72.0 million, bolstered by strong multi-family and mortgage warehouse loans. Total assets rose 23% year-over-year to $9.7 billion, with loan receivables increasing by 63%. However, the allowance for loan losses increased to $29.1 million due to loan growth and pandemic uncertainties. The company maintains strong liquidity with $3.7 billion in unused credit lines.