Merchants Bancorp reports Q4 EPS $1.85, consensus $1.30

Reports Q4 charge-offs for three customers, primarily in the multi-family loan portfolio, totaling $4.2M, and recorded $113,000 of recoveries during the Q4. This compares to $238,000 in charge-offs and $1,000 in recoveries during the Q4 of 2023 and to $2.1M in charge-offs and $7,000 of recoveries in the Q3. Reports Q4 tangible book value per common share reached a record-high of $34.15 and increased 25% compared to $27.40 last year and increased 5% compared to $32.38 in the Q3. “Our record-breaking performance in 2024, with net income of $320.4M and earnings per share of $6.30, demonstrates that our superior business model provides for growth and higher earnings in any environment. With total assets reaching the highest levels in company history, at $18.8B, and tangible book value per share increasing 25%, to an all-time high of $34.15 per share, we have remained focused on effectively managing capital and delivering exceptional value to our shareholders and stakeholders,” said Michael F. Petrie, Chairman and CEO of Merchants.