Merchants Bancorp (MBIN) Financials: History & Chart

Merchants Bancorp(MBIN)

Banks - Regional · Carmel, IN

$49.60-0.12 (-0.24%)

Delayed quote: Oct 6, 2026, 3:10 PM EDT

About Merchants Bancorp

Merchants Bancorp operates as a diversified financial services holding company across the United States. Its operations are organized into three primary divisions: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking division focuses on originating and servicing government-sponsored mortgages for multi-family dwellings and healthcare institutions. It also tailors loan products specifically for independent living, assisted living, memory care, and skilled nursing developments, and serves as a syndicator for low-income housing tax credits and related debt funds. The Mortgage Warehousing division provides funding for residential loans eligible for agency backing, covering their initiation, acquisition, and sale within the secondary market, in addition to extending commercial credit to non-depository financial firms. Finally, the Banking division offers a broad spectrum of financial products and services to both individual consumers and businesses. These offerings encompass various deposit accounts and a diverse portfolio of loan options, including multi-family construction and bridge loans, commercial real estate, commercial and industrial, agricultural, residential mortgage, and consumer credit. Furthermore, this segment facilitates single-family mortgage lending, construction, bridge, and lot financing, first-lien home equity lines of credit, and Small Business Administration (SBA) lending programs. Founded in 1990, Merchants Bancorp maintains its corporate headquarters in Carmel, Indiana.

Carmel, IN

735 employees

bankmerchants.com

Financial Services / Banks - Regional

Sector: Financial Services
Industry: Banks - Regional
CEO: Michael F. Petrie

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Financials

SEC Filings

Quarterly Income Statement (USD)

Swipe horizontally to review earlier periods. The line-item column stays pinned.

Quarterly Report	TTM	Quarter ended Jun 2026	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024
Revenue	1.31B	294.07M	317.11M	354.67M	343.53M	353.74M	310.10M	379.79M	354.56M
Cost of Goods Sold	714.80M	157.54M	157.16M	197.14M	202.96M	228.71M	172.74M	189.41M	213.00M
Gross Profit	594.58M	136.54M	159.95M	157.53M	140.57M	125.03M	137.36M	190.38M	141.55M
Gross Profit Margin	45.4%	46.4%	50.4%	44.4%	40.9%	35.3%	44.3%	50.1%	39.9%
Total Operating Expenses	317.70M	82.43M	75.64M	83.64M	75.99M	76.19M	60.87M	62.50M	60.20M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	175.30M	73.25M	2.77M	45.76M	53.53M	3.16M	43.65M	44.01M	44.20M
Operating Income (EBIT)	276.88M	54.10M	84.31M	73.88M	64.58M	48.84M	76.50M	127.88M	81.35M
Operating Margin	21.1%	18.4%	26.6%	20.8%	18.8%	13.8%	24.7%	33.7%	22.9%
Income Before Tax (EBT)	322.56M	99.78M	84.31M	73.88M	64.58M	48.84M	76.50M	127.88M	81.35M
Interest Income	1.17B	294.07M	270.51M	307.47M	301.78M	304.40M	287.20M	321.35M	338.93M
Interest Expense	642.50M	157.54M	141.86M	169.38M	173.72M	175.68M	165.01M	186.72M	206.11M
Other Income/Expense	45.68M	45.68M	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	268.58M	78.30M	67.73M	67.85M	54.70M	37.98M	58.24M	95.67M	61.27M
Income Tax Expense	53.97M	21.48M	16.57M	6.04M	9.88M	10.85M	18.26M	32.21M	20.07M
Net Profit Margin	20.5%	26.6%	21.4%	19.1%	15.9%	10.7%	18.8%	25.2%	17.3%
EBITDA	280.17M	54.10M	85.68M	75.04M	65.35M	49.60M	77.27M	128.64M	82.13M
EBITDA Margin	21.4%	18.4%	27.0%	21.2%	19.0%	14.0%	24.9%	33.9%	23.2%
Depreciation & Amortization	3.29M	0.00	1.37M	1.16M	765K	770K	770K	760K	783K
EPS Basic	4.98	1.48	1.25	1.28	0.97	0.60	0.93	1.86	1.17
EPS Diluted	4.98	1.48	1.25	1.28	0.97	0.60	0.93	1.85	1.17
Weighted Average Basic Shares	45.94M	45.94M	45.93M	45.89M	45.87M	45.88M	45.82M	45.77M	45.76M
Weighted Average Diluted Shares	46.01M	46.01M	46.00M	45.98M	45.93M	45.93M	45.91M	45.92M	45.91M

Annual Income Statement (USD)

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Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	1.37B	1.45B	1.19B	602.07M	461.56M	401.18M	254.55M	185.53M
Cost of Goods Sold	801.55M	804.38M	669.96M	179.58M	38.90M	70.48M	93.64M	55.22M
Gross Profit	563.69M	642.69M	519.10M	422.49M	422.66M	330.70M	160.91M	130.31M
Gross Profit Margin	41.3%	44.4%	43.7%	70.2%	91.6%	82.4%	63.2%	70.2%
Total Operating Expenses	299.89M	220.04M	171.19M	131.35M	117.73M	87.34M	58.78M	46.28M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	177.19M	156.88M	121.76M	92.55M	88.42M	65.00M	40.84M	33.26M
Operating Income (EBIT)	263.80M	422.64M	347.91M	291.14M	304.93M	243.36M	102.13M	84.03M
Operating Margin	19.3%	29.2%	29.3%	48.4%	66.1%	60.7%	40.1%	45.3%
Income Before Tax (EBT)	263.80M	422.64M	347.91M	291.14M	304.93M	243.36M	102.13M	84.03M
Interest Income	1.20B	1.30B	1.08B	480.83M	311.89M	282.79M	212.00M	140.56M
Interest Expense	683.79M	780.10M	629.73M	162.28M	33.89M	58.64M	89.70M	50.59M
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income	218.77M	320.39M	279.23M	219.72M	227.10M	180.53M	77.33M	62.87M
Income Tax Expense	45.03M	102.26M	68.67M	71.42M	77.83M	62.82M	24.80M	21.15M
Net Profit Margin	16.0%	22.1%	23.5%	36.5%	49.2%	45.0%	30.4%	33.9%
EBITDA	267.26M	425.66M	350.76M	293.63M	307.12M	245.25M	102.99M	84.49M
EBITDA Margin	19.6%	29.4%	29.5%	48.8%	66.5%	61.1%	40.5%	45.5%
Depreciation & Amortization	3.46M	3.01M	2.85M	2.48M	2.19M	1.90M	852K	461K
EPS Basic	3.78	6.32	5.66	4.49	4.78	3.85	1.58	1.39
EPS Diluted	3.78	6.30	5.64	4.47	4.76	3.85	1.58	1.38
Weighted Average Basic Shares	45.87M	44.85M	43.22M	43.16M	43.17M	43.11M	43.06M	43.04M
Weighted Average Diluted Shares	45.94M	45.01M	43.35M	43.32M	43.33M	43.17M	43.12M	43.09M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.