Merchants Bancorp Reports Strong Second Quarter Results for Q2 2026
Merchants Bancorp reported a significant increase in net income to $78.3 million during the second quarter of 2026, representing a 106% rise compared to the same period in 2025 and an 18% growth from Q1 2026. The company's diluted earnings per share reached $1.48, up sharply year-over-year by 147%. Total assets hit a record high of $21.2 billion for the fifth consecutive quarter, with tangible book value per common share reaching an all-time high at $39.93. The company also noted improvements in asset quality and credit performance, including reductions in criticized loans receivable by 12% compared to both Q1 2026 and December 2025. Nonperforming loans decreased by 17%, while total delinquent loans dropped by 14%. The provision for credit losses also declined significantly year-over-year and quarter-over-quarter, indicating improved risk management. Merchants Bancorp maintained strong capital ratios at 12.5% and liquidity of $13 billion or 61% of assets. Loan growth continued with net loans reaching $12.3 billion as total deposits increased by 9% compared to December 2025, supported largely by core deposit growth.
