<span item_type="fundamental" item_id="5e8383b82ca05f86fea6ebdf2af8c308" counter_id="ST/US/MBINM" env="prod"></span><span item_type="announcement" item_id="576622253486113409" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 171.07 M.</p><p>EPS: As of FY2025 Q3, the actual value is USD 0.97.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -63.48 M.</p><p></p><h3>Net Income</h3><ul><li>Third quarter 2025 net income was $54.7 million, a decrease of $6.6 million compared to the third quarter of 2024, but an increase of $16.7 million compared to the second quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Earnings Per Share</h3><ul><li>Diluted earnings per common share for the third quarter of 2025 was $0.97, a decrease of 17% compared to the third quarter of 2024, and an increase of 62% compared to the second quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Provision for Credit Losses</h3><ul><li>The total provision for credit losses decreased by 45%, or $23.8 million, compared to June 30, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Gain on Sale of Loans</h3><ul><li>Gain on sale of loans increased by $7.9 million, or 47%, compared to the third quarter of 2024, and by $1.3 million, or 6%, compared to the second quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Tangible Book Value</h3><ul><li>Tangible book value per common share reached a record-high of $36.31, increasing 12% compared to $32.38 in the third quarter of 2024, and 3% compared to $35.42 in the second quarter of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Total Assets</h3><ul><li>Total assets of $19.4 billion as of September 30, 2025, increased by $213.4 million, or 1%, compared to June 30, 2025, and by $548.9 million, or 3%, compared to December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Loans Receivable</h3><ul><li>Loans receivable of $10.5 billion, net of allowance for credit losses on loans, increased by $83.1 million, or 1%, compared to June 30, 2025, and by $161.2 million, or 2%, compared to December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Core Deposits</h3><ul><li>Core deposits of $12.8 billion increased by $1.4 billion, or 12%, compared to June 30, 2025, and by $3.4 billion, or 36%, compared to December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Brokered Deposits</h3><ul><li>Brokered deposits of $1.1 billion decreased by $110.4 million, or 9%, compared to June 30, 2025, and by $1.4 billion, or 55%, compared to December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Liquidity</h3><ul><li>As of September 30, 2025, the company had $5.9 billion in unused borrowing capacity with the Federal Home Loan Bank and the Federal Reserve Discount window, representing 30% of total assets.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>Merchants Bancorp is confident in its ability to deliver sustainable performance and capitalize on additional market opportunities, supported by improved asset quality, strong liquidity, core deposit growth, and effective capital management.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1629019/000110465925103169/tm2529591d1_ex99-1.htm"></span></li></ul>

Merchants Bancorp Pref Share MBINM 8.25 Perp 10/01/27 | 8-K: FY2025 Q3 Revenue: USD 171.07 M