Merchants Bancorp reports Q3 EPS 97c, consensus 79c

Reports Q3 tangible book value per common share reached a record-high of $36.31 and increased 12% compared to $32.38last year and increased 3% compared to $35.42 in the Q2. “We are pleased with the strong rebound in earnings this quarter, driven by improved credit quality and disciplined execution. We also continued our successful track record of implementing credit risk transfers, including a $557M healthcare loan pool, which enhances capital efficiency and reduces risk exposure. In addition, the strong activity in gain on sale of loans this quarter underscores the resilience and strength of our core businesses,” said Michael F. Petrie, Chairman and CEO of Merchants.