Company: MBINL
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001558370-25-011041
Chunk: 5

Company: Merchants Bancorp
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1F
Chunk 5
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Item 1. Financial Statements

Merchants Bancorp 

Condensed Consolidated Balance Sheets

June 30, 2025 (Unaudited) and December 31, 2024

(In thousands, except share data)

​​​​​​​​​June 30, ​December 31, ​    2025    2024*Assets ​   ​  Cash and due from banks​$ 15,419​$ 10,989Interest-earning demand accounts​  631,746​  465,621Cash and cash equivalents​  647,165​  476,610Securities purchased under agreements to resell​  1,539​  1,559Mortgage loans in process of securitization​  402,427​  428,206Securities available for sale ($602,962 and $635,946 utilizing fair value option, respectively)​  936,343​  980,050Securities held to maturity ($1,547,525 and $1,664,674 at fair value, respectively)​​ 1,548,211​​ 1,664,686Federal Home Loan Bank (FHLB) stock and other equity securities​  217,850​  217,804Loans held for sale (includes $91,930 and $78,170 at fair value, respectively)​  4,105,765​  3,771,510Loans receivable, net of allowance for credit losses on loans of $91,811 and $84,386, respectively​  10,432,117​  10,354,002Premises and equipment, net​  71,050​  58,617Servicing rights​  193,037​  189,935Interest receivable​  82,391​  83,409Goodwill​  8,014​  8,014Other assets and receivables​  495,295​  571,330Total assets​$ 19,141,204​$ 18,805,732Liabilities and Shareholders' Equity​ ​​ ​Liabilities​   ​   Deposits​   ​   Noninterest-bearing​$ 315,523​$ 239,005Interest-bearing​  12,371,312​  11,680,971Total deposits