Merchants Bancorp slumps after loans worry

Merchants Bancorp

30/07/2024 15:44

** Shares of Merchants Bancorp  MBIN.O  down 14.6% at $44.49
    ** Company on Monday aftermarket recognized three loan
charge-offs, primarily in the multi-family portfolio, for $3.5
million
    ** Non-performing loans stood at $143.5 mln or 1.30% of
gross loans receivable on June 30 vs $131.8 mln or 1.22% as of
March 31
    ** MBIN also increased allowance for credit losses on loans
by $5.3 mln compared to March 31 
    ** Including sessions move, MBIN up ~4% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))