MERCHANTS BANCORP MBIN Income Statement

Merchants bancorp (MBIN)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Sep'16
Interest Income
Loans
205,537	186,428	163,598	142,875	129,300	119,457	108,559	98,519	88,751	79,922	73,625	0	0	0
Investment securities:
Trading
8,441	6,690	5,669	5,546	5,068	5,012	4,840	4,841	4,800	5,187	5,640	0	0	0
Available for sale - taxable
5,979	6,208	6,372	6,309	6,457	6,448	0	0	0	-	-	-	-	-
Available for sale - tax exempt
213	272	0	0	0	-	-	-	-	-	-	-	-	-
Available for sale
-	-	-	-	-	-	-	-	-	-	4,000	0	0	0
Federal Home Loan Bank stock
948	932	830	655	479	385	378	371	369	321	320	0	0	0
Other
11,620	11,465	11,335	10,303	9,799	9,261	7,807	6,564	5,319	4,426	3,719	0	0	0
Total interest income
232,738	211,995	188,021	165,837	151,199	140,563	127,648	116,077	104,418	94,387	87,304	0	0	0
Interest Expense
Deposits
91,064	84,661	73,399	59,030	49,427	42,216	34,260	28,249	23,248	20,003	17,186	0	0	0
Borrowed funds
5,154	5,036	5,770	7,097	7,778	8,376	8,640	8,172	7,996	7,787	7,503	0	0	0
Total interest expense
96,218	89,697	79,169	66,127	57,205	50,592	42,900	36,421	31,244	27,790	24,689	0	0	0
Net interest income
136,520	122,298	108,852	99,710	93,994	89,971	84,748	79,656	73,174	66,597	62,615	0	0	0
Provision for loan losses
6,289	3,940	3,555	2,979	3,872	4,629	4,421	4,396	3,638	2,472	1,312	0	0	0
Net Interest Income After Provision for Loan Losses
130,231	118,358	105,297	96,731	90,122	85,342	80,327	75,260	69,536	64,125	61,303	0	0	0
Noninterest Income
Gain on sale of loans
53,934	35,411	31,777	32,290	31,017	39,266	37,525	35,904	43,240	37,790	38,312	0	0	0
Loan servicing fees, net
-6,595	-1,118	-1,661	1,600	5,716	5,741	8,056	6,122	3,962	6,273	2,417	0	0	0
Mortgage warehouse fees
9,138	7,145	5,192	3,271	2,817	2,550	2,549	2,520	2,498	2,608	2,897	0	0	0
Gains on sale of investments available for sale (includes $0 and $127, respectively, related to accumulated other comprehensive earnings reclassifications)
-	476	0	0	0	-	-	-	-	-	-	-	-	0
Other income
6,501	5,175	3,689	2,891	2,259	2,028	1,627	1,360	1,202	1,009	752	0	0	0
Total noninterest income
63,327	47,089	39,121	40,176	41,936	49,585	49,757	45,906	50,902	47,680	44,402	0	0	0
Noninterest Expense
Salaries and employee benefits
43,766	38,093	38,314	37,017	34,320	32,240	28,652	26,160	24,067	21,472	18,215	0	0	0
Loan expenses
4,764	4,534	4,636	4,642	4,599	4,621	4,537	4,402	4,169	4,097	4,243	0	0	0
Commitments and Contingencies
-	-	-	0	-	-	-	0	-	-	-	-	-	-
Occupancy and equipment
0	-	0	-	0	-	0	-	1,811	1,602	1,411	0	0	0
Professional fees
2,356	2,326	2,330	2,412	2,636	2,585	2,180	2,151	1,789	1,516	1,295	0	0	0
Deposit insurance expense
4,256	2,747	1,627	1,037	1,055	1,024	977	938	912	930	1,028	0	0	0
Authorized - 50,000,000 shares
-	-	-	0	-	-	-	0	-	-	-	-	-	-
Technology expense
0	-	0	-	0	-	0	-	1,217	1,171	1,107	0	0	0
Other expense
9,443	8,381	7,886	7,132	6,231	6,098	5,253	4,938	4,308	3,856	3,718	0	0	0
Total noninterest expense
72,571	63,313	60,658	57,585	53,665	50,900	45,519	42,012	38,273	34,644	31,017	0	0	0
Income Before Income Taxes
120,987	102,134	83,760	79,322	78,393	84,027	84,565	79,154	82,165	77,161	74,688	0	0	0
Provision for income taxes (includes $0 and $32, respectively, related to income tax expense for reclassification items)
29,645	24,805	21,070	20,152	20,010	21,153	16,784	17,645	21,550	22,477	28,734	0	0	0
Net Income
91,342	77,329	62,690	59,170	58,383	62,874	67,781	61,509	60,615	54,684	45,954	0	0	0
Dividends on preferred stock
12,001	9,216	6,430	4,241	3,330	3,330	3,331	3,331	3,331	3,330	0	0	0	-
Net Income Allocated to Common Shareholders
79,341	68,113	56,260	54,929	55,053	59,544	64,450	58,178	57,284	51,354	0	0	0	-
Basic Earnings Per Share (in dollar per share)
0.73	0.92	0.60	0.51	0.34	0.51	0.55	0.52	0.50	0.78	0.45	0.66	0.39	0.51
Diluted Earnings Per Share (in dollar per share)
0.73	0.92	0.60	0.51	0.34	0.50	0.55	0.52	0.50	0.78	0.45	0.66	0.39	0.51
Weighted-Average Shares Outstanding Basic (in Shares)
28,734	28,706	28,706	28,705	28,702	28,694	28,694	28,692	28,690	26,666	21,310	21,114	21,114	21,111
Weighted-Average Shares Outstanding Diluted (in Shares)
28,759	28,754	28,744	28,746	28,737	28,738	28,727	28,720	28,710	26,693	21,328	21,127	21,123	21,113
Dividends Per Share
-	-	-	-	-	-	-	-	-	-	0.05	0.05	0.05	0.05