Merchants Bancorp Q2 2024 net income rises 17% to $76.4 million; EPS $1.49
Merchants Bancorp reported second quarter 2024 net income of $76.4 million, or $1.49 per diluted share, up 17% and 14% from the second quarter of 2023 but down 12% and 17% from the first quarter of 2024. Total assets reached $18.2 billion and tangible book value per share rose 30% year over year to $31.27.
Key points
- Net income of $76.4 million, up 17% from $65.3 million a year earlier and down 12% from $87.1 million in Q1 2024
- Diluted EPS of $1.49, up from $1.31 a year earlier and down from $1.80 in Q1 2024
- Total assets of $18.2 billion at June 30, 2024; tangible book value per share of $31.27, up 30% from $24.14
- Non-performing loans rose to $143.5 million, or 1.30% of gross loans, from $131.8 million (1.22%) at March 31, 2024
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 29, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.