Merchants Bancorp reports Q3 EPS $1.68, consensus $1.32

Reports Q3 net income $81.5M, up $23.0M , or 39%, compared to 3Q22. Tangible book value per common share was $25.82 from $24.14 at previous quarter end. “We could not be prouder to have achieved the highest earnings and asset levels in company history duringQ3, along with tangible book value of $25.82 per share that grew 24% over the last year. Our focus on growing our sales teams in new markets, conservative underwriting, cost controls, and effectively matching our asset and liability duration have positioned us well for sustainable earnings growth for the remainder of 2023 and beyond,” said Michael Petrie, CEO. COO Michael Dunlap added, “Our team has continued to maximize sources of liquidity and capital efficiencies to ensure that our strong pipeline of loan growth can be effectively executed in various interest rate environments so we can meet the needs of our customers and continue to generate ongoing profitability.”