| Summary of bank's actual capital amounts and ratios |
| | | | | | | | | | | | | | | | | | | | | | | | Minimum | | | | | | | | | | | Amount to be Well | | Minimum Amount | | | | | | | | | Capitalized with | | To Be Well | | | | Actual | | Basel III Buffer(1) | | Capitalized(1) | | | | Amount | | Ratio | | Amount | | Ratio | | Amount | | Ratio | | | | | (Dollars in thousands) | | March 31, 2026 | | | | | | | | | | | | | | | | | Total capital(1) (to risk-weighted assets) | | | | | | | | | | | | | | | | | Company | | $ | 2,408,656 | | 12.8 | % | $ | 1,980,993 | | 10.5 | % | $ | — | | N/A | % | Merchants Bank | | | 2,335,139 | | 12.4 | % | | 1,979,758 | | 10.5 | % | | 1,885,483 | | 10.0 | % | Tier I capital(1) (to risk-weighted assets) | | | | | | | | | | | | | | | | | Company | | | 2,322,134 | | 12.3 | % | | 1,603,661 | | 8.5 | % | | — | | N/A | % | Merchants Bank | | | 2,248,617 | | 11.9 | % | | 1,602,661 | | 8.5 | % | | 1,508,387 | | 8.0 | % | Common Equity Tier I capital(1) (to risk-weighted assets) | | | | | | | | | | | | | | | | | Company | | | 1,770,844 | | 9.4 | % | | 1,320,662 | | 7.0 | % | | — | | N/A | % | Merchants Bank | | | 2,248,617 | | 11.9 | % | | 1,319,838 | | 7.0 | % | | 1,225,564 | | 6.5 | % | Tier I capital(1) (to average assets) | | | | | | | | | | | | | | | | | Company | | | 2,322,134 | | 12.3 | % | | 947,199 | | 5.0 | % | | — | | N/A | % | Merchants Bank | | | 2,248,617 | | 11.9 | % | | 944,081 | | 5.0 | % | | 944,081 | | 5.0 | % |
| (1) | As defined by regulatory agencies. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Minimum | | | | | | | | | | | Amount to be Well | | Minimum Amount | | | | | | | | | Capitalized with | | To Be Well | | | | Actual | | Basel III Buffer(1) | | Capitalized(1) | | | | Amount | | Ratio | | Amount | | Ratio | | Amount | | Ratio | | | | | (Dollars in thousands) | | December 31, 2025 | | | | | | | | | | | | | | | | | Total capital(1) (to risk-weighted assets) | | | | | | | | | | | | | | | | | Company | | $ | 2,365,600 | | 13.6 | % | $ | 1,822,759 | | 10.5 | % | $ | — | | N/A | % | Merchants Bank | | | 2,320,227 | | 13.4 | % | | 1,821,535 | | 10.5 | % | | 1,734,795 | | 10.0 | % | Tier I capital(1) (to risk-weighted assets) | | | | | | | | | | | | | | | | | Company | | | 2,272,014 | | 13.1 | % | | 1,475,567 | | 8.5 | % | | — | | N/A | % | Merchants Bank | | | 2,226,641 | | 12.8 | % | | 1,474,576 | | 8.5 | % | | 1,387,836 | | 8.0 | % | Common Equity Tier I capital(1) (to risk-weighted assets) | | | | | | | | | | | | | | | | | Company | | | 1,720,724 | | 9.9 | % | | 1,215,172 | | 7.0 | % | | — | | N/A | % | Merchants Bank | | | 2,226,641 | | 12.8 | % | | 1,214,357 | | 7.0 | % | | 1,127,617 | | 6.5 | % | Tier I capital(1) (to average assets) | | | | | | | | | | | | | | | | | Company | | | 2,272,014 | | 11.5 | % | | 990,358 | | 5.0 | % | | — | | N/A | % | Merchants Bank | | | 2,226,641 | | 11.3 | % | | 987,284 | | 5.0 | % | | 987,284 | | 5.0 | % |
| (1) | As defined by regulatory agencies. |
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