CARMEL, Ind. (AP) — CARMEL, Ind. (AP) — Merchants Bancorp (MBIN) on Monday reported first-quarter profit of $58.2 million.
The Carmel, Indiana-based bank said it had earnings of 93 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.
The bank holding company posted revenue of $310.9 million in the period. Its revenue net of interest expense was $145.9 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $167 million.
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