Company: MBINL
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001104659-25-108470
Chunk: 9

Company: Merchants Bancorp
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2M
Chunk 9
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% of total deposits, reaching the highest level the Company has reported since March 2022. 

●Brokered deposits of $1.1 billion decreased $110.4 million, or 9%, compared to June 30, 2025 and decreased $1.4 billion, or 55%, compared to December 31, 2024. 

●As of September 30, 2025, approximately 96% of loans reprice within three months, which reduces the risk of market rate increases.

●Net interest margin was 2.82% compared to 2.99% for the three months ended September 30, 2024. 

●Efficiency ratio was 45.16% compared to 41.00% for the three months ended September 30, 2024. 

●On September 17, 2025, the Company executed a credit default swap on a $557.1 million pool of healthcare mortgage loans, to provide credit protection for the loan pool and reduce risk-based capital requirements.

●The volume of warehouse loans funded during the three months ended September 30, 2025 amounted to $17.4 billion, an increase of $4.3 billion, or 33%, compared to the three months ended September 30, 2024. This compared to the 20% industry increase in single-family residential loan volumes for the three months ended