$MSBB
Mercer Bancorp, Inc.

2024 Q1 Form 10-Q Financial Statement

#000155837024001144 Filed on February 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
Revenue $1.956M $1.878M $1.394M
YoY Change 35.77% 34.71%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $92.11K $74.46K
YoY Change 23.7%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $578.3K $496.0K $55.82K
YoY Change 391.62% 788.52%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $165.2K $238.2K $405.0K
YoY Change -57.72% -41.18%
Income Tax $36.16K $48.35K $76.40K
% Of Pretax Income 21.88% 20.3% 18.87%
Net Earnings $129.1K $189.9K $328.6K
YoY Change -58.8% -42.22%
Net Earnings / Revenue 6.6% 10.11% 23.57%
Basic Earnings Per Share $0.14 $0.20
Diluted Earnings Per Share $0.14 $0.20
COMMON SHARES
Basic Shares Outstanding 1.023M 1.023M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $7.926M $7.635M $7.203M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.720M $2.553M
YoY Change 7.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $169.4M $166.4M
YoY Change 13.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $146.1M $143.0M
YoY Change 8.91%
SHAREHOLDERS EQUITY
Retained Earnings $15.98M $15.89M
YoY Change 2.43%
Common Stock $10.23K $10.23K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.35M $23.37M $14.53M
YoY Change
Total Liabilities & Shareholders Equity $169.4M $166.4M
YoY Change 13.69%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income $129.1K $189.9K $328.6K
YoY Change -58.8% -42.22%
Depreciation, Depletion And Amortization $92.11K $74.46K
YoY Change 23.7%
Cash From Operating Activities -$2.117M $125.3K
YoY Change -1789.47%
INVESTING ACTIVITIES
Capital Expenditures $40.68K $65.84K
YoY Change -38.2%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.499M -$239.5K
YoY Change 1361.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.960M -7.060M
YoY Change -198.59%
NET CHANGE
Cash From Operating Activities -2.117M 125.3K
Cash From Investing Activities -3.499M -239.5K
Cash From Financing Activities 6.960M -7.060M
Net Change In Cash 1.344M -7.174M
YoY Change -118.73%
FREE CASH FLOW
Cash From Operating Activities -$2.117M $125.3K
Capital Expenditures $40.68K $65.84K
Free Cash Flow -$2.157M $59.46K
YoY Change -3728.56%

Facts In Submission

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189855
CY2022Q4 us-gaap Profit Loss
ProfitLoss
328579
CY2023Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
92109
CY2022Q4 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
74463
CY2023Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
7731
CY2022Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
15962
CY2023Q4 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
15836
CY2022Q4 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
17635
CY2023Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
18863
CY2022Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4116
CY2023Q4 us-gaap Share Based Compensation
ShareBasedCompensation
80392
CY2023Q4 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
2142238
CY2022Q4 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
281500
CY2022Q4 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-8049
CY2022Q4 merbc Noninterest Expense Life Insurance Death Benefits
NoninterestExpenseLifeInsuranceDeathBenefits
4515
CY2023Q4 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
11009
CY2022Q4 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
14381
CY2023Q4 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
71612
CY2022Q4 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-7927
CY2023Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
38717
CY2022Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-102613
CY2023Q4 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-226323
CY2022Q4 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-98385
CY2023Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2116785
CY2022Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
125293
CY2023Q4 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
890248
CY2022Q4 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
1273478
CY2023Q3 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
468000
CY2022Q4 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
519000
CY2023Q4 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
8049
CY2023Q4 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
CY2022Q4 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
519438
CY2023Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1119365
CY2022Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
160050
CY2023Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
13365
CY2022Q4 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
20318
CY2023Q4 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
3595497
CY2022Q4 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
159935
CY2023Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40683
CY2022Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
65835
CY2023Q4 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
105800
CY2022Q4 us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
18000
CY2022Q4 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
541987
CY2023Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3499498
CY2022Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-239455
CY2023Q4 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
7960164
CY2022Q4 us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
-7059795
CY2023Q4 us-gaap Proceeds From Federal Home Loan Bank Borrowings
ProceedsFromFederalHomeLoanBankBorrowings
15000000
CY2023Q4 merbc Repayment Of Federal Home Loan Bank Advances
RepaymentOfFederalHomeLoanBankAdvances
16000000
CY2023Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6960164
CY2022Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7059795
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1343881
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-7173957
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6291336
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14376718
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7635217
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7202761
CY2023Q4 us-gaap Interest Paid Net
InterestPaidNet
435208
CY2022Q4 us-gaap Interest Paid Net
InterestPaidNet
55894
CY2023Q4 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
32000
CY2022Q4 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
0
CY2023Q4 merbc Number Of Office Locations
NumberOfOfficeLocations
4
CY2023Q4 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of mortgage servicing rights and deferred tax assets and fair values of financial instruments.</p>
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0
CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
53536
CY2023Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesHeldToMaturityAllowanceForCreditLossExcludingAccruedInterest
0
CY2023Q4 us-gaap Debt Securities Held To Maturity Accrued Interest After Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAccruedInterestAfterAllowanceForCreditLoss
538
CY2023Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
3460803
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
3323495
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
404999
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
404453
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenAmortizedCostBasis
3428492
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue
3237552
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
8294034
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDate
7945500
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
12302263
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
11648818
CY2023Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
476000
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
12302263
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
41437
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
694882
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
11648818
CY2023Q3 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
12538736
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1089021
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
11449715
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
999740
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
980000
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPositionNumberOfPositions
19
CY2023 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPositionNumberOfPositions
23
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPosition
9569000
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
11450000
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Percentage Of Fair Value In Loss Position
DebtSecuritiesAvailableForSaleAndHeldToMaturityPercentageOfFairValueInLossPosition
0.83
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Percentage Of Fair Value In Loss Position
DebtSecuritiesAvailableForSaleAndHeldToMaturityPercentageOfFairValueInLossPosition
1
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPositionLessThan12Months
404453
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
545
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPosition12MonthsOrLonger
9164639
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
694337
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPosition
9569092
CY2023Q4 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPositionAccumulatedLoss
694882
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1481544
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
71136
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
9968171
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1017885
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
11449715
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1089021
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPositionLessThan12Months
1481544
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
71136
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPosition12MonthsOrLonger
10111313
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1022034
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPosition
11592857
CY2023Q3 merbc Debt Securities Available For Sale And Held To Maturity Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleAndHeldToMaturityUnrealizedLossPositionAccumulatedLoss
1093170
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee And Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess
136401347
CY2023Q3 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
133805557
CY2023Q4 us-gaap Financing Receivable Loan In Process
FinancingReceivableLoanInProcess
1563513
CY2023Q3 us-gaap Loans And Leases Receivable Loans In Process
LoansAndLeasesReceivableLoansInProcess
2578282
CY2023Q4 us-gaap Financing Receivable Unamortized Loan Fee Cost
FinancingReceivableUnamortizedLoanFeeCost
324585
CY2023Q3 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
325621
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
966593
CY2023Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
934331
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest After Allowance For Credit Loss
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss
133546656
CY2023Q3 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
129967323
CY2023Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
934331
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Recovery
FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRecovery
262
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest
966593
CY2022Q3 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
983654
CY2022Q4 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
22809
CY2022Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
960845
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
966593
CY2023Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
614037
CY2023Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
135808141
CY2023Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
934331000
CY2023Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
133805557000
CY2023Q3 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
133805557
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Before Allowance For Credit Loss Fee And Loan In Process
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess
136401347
CY2023Q3 us-gaap Loans And Leases Receivable Before Fees Gross
LoansAndLeasesReceivableBeforeFeesGross
133805557
CY2023Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
0
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Nonaccrual
FinancingReceivableExcludingAccruedInterestNonaccrual
614037
CY2023Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
477313
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Modified Period
FinancingReceivableExcludingAccruedInterestModifiedPeriod
0
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Modified Past12 Months
FinancingReceivableExcludingAccruedInterestModifiedPast12Months
0
CY2023Q4 us-gaap Capital
Capital
21239000
CY2023Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.181
CY2023Q4 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
9400000
CY2023Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q4 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
11750000
CY2023Q4 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2023Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
20272000
CY2023Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.173
CY2023Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
7050000
CY2023Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2023Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
9400000
CY2023Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
20272000
CY2023Q4 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.173
CY2023Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
5287000
CY2023Q4 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Capital Adequacy Minimum
BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum
0.045
CY2023Q4 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
7637000
CY2023Q4 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Well Capitalized Minimum
BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioWellCapitalizedMinimum
0.065
CY2023Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
20272000
CY2023Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.124
CY2023Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
6555000
CY2023Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2023Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
8194000
CY2023Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.050
CY2023Q3 us-gaap Capital
Capital
21120000
CY2023Q3 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.190
CY2023Q3 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
8897000
CY2023Q3 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q3 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
11121000
CY2023Q3 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2023Q3 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
20186000
CY2023Q3 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.182
CY2023Q3 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
6672000
CY2023Q3 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2023Q3 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
8897000
CY2023Q3 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q3 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
20186000
CY2023Q3 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.182
CY2023Q3 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
5004000
CY2023Q3 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Capital Adequacy Minimum
BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioCapitalAdequacyMinimum
0.045
CY2023Q3 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
7228000
CY2023Q3 us-gaap Banking Regulation Common Equity Tier One Risk Based Capital Ratio Well Capitalized Minimum
BankingRegulationCommonEquityTierOneRiskBasedCapitalRatioWellCapitalizedMinimum
0.065
CY2023Q3 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
20186000
CY2023Q3 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.131
CY2023Q3 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
6158000
CY2023Q3 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2023Q3 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
7697000
CY2023Q3 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.050
CY2023Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
FairValueDisclosureOffbalanceSheetRisksFaceAmountLiability
11092620
CY2023Q3 us-gaap Fair Value Disclosure Offbalance Sheet Risks Face Amount Liability
FairValueDisclosureOffbalanceSheetRisksFaceAmountLiability
11890522
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
189855
CY2023Q4 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
1022970
CY2023Q4 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
81779
CY2023Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
941191
CY2023Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2023Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
10.00
CY2023Q1 merbc Employee Stock Ownership Plan Esop Percent Of Shares To Be Subscribed
EmployeeStockOwnershipPlanEsopPercentOfSharesToBeSubscribed
0.08
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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0001558370-24-001144-index-headers.html Edgar Link pending
0001558370-24-001144-index.html Edgar Link pending
0001558370-24-001144.txt Edgar Link pending
0001558370-24-001144-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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tmb-20231231.xsd Edgar Link pending
tmb-20231231x10q.htm Edgar Link pending
tmb-20231231xex31d1.htm Edgar Link pending
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