Flagship explainer
How MERCHANTS BANCORP earns its spread
Start with net interest income, then follow the filed path to net income.
| Filed line | Value | % of net interest income | Source |
|---|---|---|---|
| $517M | 100% |
| |
| Income before tax | $264M | 51% |
|
| Income tax | $45M | 9% |
|
| $219M | 42% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001104659-26-021549