Merchants Bancorp(MBIN) - 2025 Q1 - Quarterly Results

Exhibit 99.1 PRESS RELEASE Merchants Bancorp Reports First Quarter 2025 Results For Release April 28, 2025 · First quarter 2025 net income of $58.2 million, decreased $28.8 million compared to first quarter of 2024 and decreased $37.4 million compared to the fourth quarter 2024, reflecting market uncertainty that delayed origination closings and permanent loan conversions in a growing pipeline, which negatively impacted the recognition of gain on sale and net interest margin. The decrease in net income was ...