Exhibit 99.1 PRESS RELEASE Merchants Bancorp Reports Fourth Quarter 2024 Results CARMEL, Indiana – (PR Newswire) - Merchants Bancorp (the "Company" or "Merchants") (Nasdaq: MBIN), parent company of Merchants Bank, today reported fourth quarter 2024 net income of $95.7 million, or diluted earnings per common share of$1.85. This compared to $77.5 million, or diluted earnings per common share of$1.58 in the fourth quarter of 2023, and compared to $61.3 million, or diluted earnings per common share of$1.17 i ...