NASDAQ$MBIN

Merchants Bancorp · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported increased assets and deposits, but decreased net income compared to the previous year's quarter, driven by higher expenses.

Merchants Bancorp reported a net income of $55.2 million for Q4 2021, a decrease compared to both Q4 2020 and Q3 2021. While total assets and deposits increased, the net income was impacted by higher noninterest expenses, particularly salaries and employee benefits.

  • Net income for Q4 2021 was $55.2 million, or $1.71 per diluted share.
  • Total assets reached $11.3 billion as of December 31, 2021, representing a 17% increase year-over-year.
  • Total deposits amounted to $9.0 billion at the end of Q4 2021, up 21% compared to the previous year.
  • Noninterest expense increased by 37% compared to Q4 2020, primarily due to higher salaries and employee benefits.

Headline financials

Total Revenue

$113M

Previous: $112M+0.9%
EPS (adj)

$1.14

Previous: $1.30-12.3%
Return on average assets

2.0%

Previous: 2.6%-21.4%
Efficiency ratio

33.3%

Previous: 24.5%+35.9%
Capital Expenditures

$364K

Previous: $2.19M-83.4%
Free Cash Flow

$338M

Previous: $331M+2.1%
Net Income

$55.2M

Previous: $59.8M-7.7%
Cash & Equivalents

$1.03B

Previous: $180M+474.5%
Total Assets

$11.3B

Previous: $9.6B+17.7%

Revenue & EPS history

Merchants Bank · Revenue · Quarterly

$113M

Q4 2021+0.9%vs Q4 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Forward guidance

This press release contains forward-looking statements which reflect management’s current views with respect to, among other things, future events and financial performance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+0.6%

Avg return

Earnings day

+2.2%

Avg return

5 days after

+3.5%

Avg return

30 days after

56%

23 / 41 earnings

Positive

+15.8%

Q4 2025

Best reaction

-16.1%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%-7.5%-5.0%
Q4 2025+15.8%+20.3%+21.0%
Q3 2025+1.4%+0.9%+9.2%
Q1 2025-8.6%-6.8%-2.5%
Q4 2024+6.5%+2.7%+2.4%
Q3 2024-16.1%-15.5%-3.8%
Q2 2024-15.8%-22.4%-13.9%
Q1 2024+3.3%+17.5%+1.4%
Q4 2023+5.4%-5.4%-4.6%
Q3 2023+11.0%+13.2%+27.6%
Q2 2023+2.4%+5.5%-3.4%
Q1 2023-1.9%-2.8%-1.0%
Q4 2022+11.0%+18.8%+17.6%
Q3 2022-0.1%-0.5%+4.7%
Q2 2022+4.6%+8.1%+9.1%
Q1 2022-4.2%-3.1%+1.5%
Q4 2021+4.9%+7.7%-0.9%
Q3 2021+4.3%+9.1%+8.5%
Q2 2021-2.5%-9.7%-7.3%
Q1 2021+5.3%+7.9%+7.7%
Q4 2020-0.7%+7.8%+13.3%
Q3 2020+0.2%+3.2%+26.6%
Q2 2020+10.0%+6.9%+17.7%
Q1 2020+6.1%+14.9%+26.0%
Q4 2019+9.8%+11.5%+0.5%
Q3 2019-0.7%+8.1%+9.2%
Q2 2019+6.4%+6.5%-4.9%
Q1 2019-9.7%-7.6%-27.5%
Q4 2018-7.6%-6.3%-3.1%
Q3 2018+3.8%+0.2%+6.4%
Q2 2018-8.6%-2.9%-3.9%
Q1 2017+5.6%+7.9%+20.4%
Q1 2018+6.5%+9.8%+24.5%
Q4 2015-5.2%-4.1%-8.0%
Q4 2016-5.2%-4.1%-8.0%
Q1 2016-5.2%-4.1%-8.0%
Q2 2016-5.2%-4.1%-8.0%
Q2 2017-5.2%-4.1%-8.0%
Q4 2017-1.6%-1.4%+10.5%
Q3 2017+2.2%+6.8%+0.3%
Q3 2016+2.2%+6.8%+0.3%

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