Apr. 28 at 8:14 PM
$MBIN Q1 earnings took a hit with EPS down 48% YoY to
$0.93, driven by valuation adjustments and delayed loan conversions. Yet tangible book value hit a record
$34.90 (+19% YoY) and core deposits now at 86% - highest since 2022. Management insists the pipeline's strong, but with NPLs doubling to 2.73%, is this optimism warranted?
https://www.prnewswire.com/news-releases/merchants-bancorp-reports-first-quarter-2025-results-302440040.html