Merchants Bancorp jumps after Q4 profit tops expectations

Merchants Bancorp

29/01/2025 17:22

** Shares of regional lender Merchants Bancorp  MBIN.O  jump
as much as 10.2%; last up 8.8% at $43.26
    ** MBIN late Tuesday posted Q4 profit of $1.85/shr,
comfortably beating Wall Street expectations of $1.29/shr,
according to data compiled by LSEG
    ** Q4 non-interest income jumped 72% to $59.1 mln, far ahead
of estimates of $27.7 mln      
    ** The strong growth was powered by a 792% jump in
loan-servicing fees during the quarter   
    ** Meanwhile, Q4 provision for credit losses came in at $2.7
mln, compared with Street expectations of $8.4 mln
    ** MBIN stock fell 14.4% in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))