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Merchants Bancorp: 3Q Earnings Snapshot

·1 min read

CARMEL, Ind. (AP) _ Merchants Bancorp (MBIN) on Wednesday reported third-quarter net income of $55 million.

The Carmel, Indiana-based bank said it had earnings of $1.79 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.07 per share.

The bank holding company posted revenue of $114.9 million in the period. Its revenue net of interest expense was $104 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $72.3 million.

Merchants Bancorp shares have increased slightly more than 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.16, an increase of 28% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MBIN at https://www.zacks.com/ap/MBIN