Company: MBINL
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001104659-25-108470
Chunk: 5

Company: Merchants Bancorp
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1F
Chunk 5
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Item 1. Financial Statements

Merchants Bancorp 

Condensed Consolidated Balance Sheets

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

(In thousands, except share data)

​​​​​​​​​September 30, ​December 31, ​    2025    2024*Assets ​   ​  Cash and due from banks​$ 11,566​$ 10,989Interest-earning demand accounts​  586,470​  465,621Cash and cash equivalents​  598,036​  476,610Securities purchased under agreements to resell​  1,529​  1,559Mortgage loans in process of securitization​  414,786​  428,206Securities available for sale ($591,379 and $635,946 utilizing fair value option, respectively)​  885,070​  980,050Securities held to maturity (fair value of $1,670,306 and $1,664,674, respectively)​​ 1,670,555​​ 1,664,686Federal Home Loan Bank (FHLB) stock and other equity securities​  217,850​  217,804Loans held for sale (includes $112,832 and $78,170 at fair value, respectively)​  4,129,329​  3,771,510Loans receivable, net of allowance for credit losses on loans of $93,330 and $84,386, respectively​  10,515,221​  10,354,002Premises and equipment, net​  75,148​  58,617Servicing rights​  213,156​  189,935Interest receivable​  82,445​  83,409Goodwill​  8,014​  8,014Other assets and receivables​  543,508​  571,330Total assets​$ 19,354,647​$ 18,805,732Liabilities and Shareholders' Equity​ ​​ ​Liabilities​   ​   Deposits​   ​   Noninterest-bearing​$ 399,814​$ 239,005Interest-bearing​  13,534,891​  11,680,971Total