Merchants Financial Group recorded a year-to-date net income of $23.29 million through the end of Q3/25, according to the company’s president and CEO, Gregory M. Evans.
In recognition of Merchants’ performance, the MFGI Board of Directors at its October meeting authorized an increase in the semi-annual dividend payment of $0.41 per share. The dividend was a 7.9% increase from the $0.38 dividend paid in June and an 13.9% increase in the dividend payment amount year over year.
“Our performance through the first three quarters of 2025 continues to be driven by the strength of our transformed balance sheet, the diversity of our business lines and the stable credit risk profile for the company,” Evans said.
Net income through Q3/25 is $2.86 million ahead of the company’s plan for 2025 and $9 million ahead of the Q3/24 performance. Merchants recorded total deposits at $2.45 billion, $11.1 million below plan, but $121.6 million ahead of 2024 performance. Total loans of $2.05 billion reflect soft commercial loan demand and new commercial production of $105 million through three quarters has not been enough to replace runoff. Loans are $91.2 million below plan and $108 million below last year. Net interest income is on plan, while non-interest income is $1.56 million (6.88%) above plan and $2.33 million (10.66%) ahead of 2024.
