Merchants Bancorp (MBIN) reported Q1 earnings late Monday of $0.93 per diluted share, down from $1.80 a year earlier.
Three analysts polled by FactSet expected $1.25.
Revenue, expressed as the sum of net interest income and total noninterest income, was $145.9 million for the quarter ended March 31, down from $167.9 million a year earlier.
Two analysts surveyed by FactSet expected $169 million.
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