Company: MBINL
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001558370-25-007170
Chunk: 5

Company: Merchants Bancorp
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1F
Chunk 5
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Item 1. Financial Statements

Merchants Bancorp 

Condensed Consolidated Balance Sheets

March 31, 2025 (Unaudited) and December 31, 2024

(In thousands, except share data)

​​​​​​​​​March 31, ​December 31, ​    2025    2024*Assets ​   ​  Cash and due from banks​$ 15,609​$ 10,989Interest-earning demand accounts​  505,687​  465,621Cash and cash equivalents​  521,296​  476,610Securities purchased under agreements to resell​  1,550​  1,559Mortgage loans in process of securitization​  389,797​  428,206Securities available for sale ($626,271 and $635,946 utilizing fair value option, respectively)​  961,183​  980,050Securities held to maturity ($1,605,151 and $1,664,674 at fair value, respectively)​​ 1,606,286​​ 1,664,686Federal Home Loan Bank (FHLB) stock and other equity securities​  217,850​  217,804Loans held for sale (includes $75,920 and $78,170 at fair value, respectively)​  3,983,452​  3,771,510Loans receivable, net of allowance for credit losses on loans of $83,413 and $84,386, respectively​  10,343,724​  10,354,002Premises and equipment, net​  67,787​  58,617Servicing rights​  189,711​  189,935Interest receivable​  82,811​  83,409Goodwill​  8,014​  8,014Other assets and receivables​  424,339​  571,330Total assets​$ 18,797,800​$ 18,805,732Liabilities and Shareholders' Equity​ ​​ ​Liabilities​   ​   Deposits​   ​   Noninterest-bearing​$ 313,296​$ 239,005Interest-bearing​  12,092,869​  11,680,971Total deposits