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Merchants Bancorp MBIN Q2 2026 earnings

Reported July 28, 2026 · After market close

Revenue$182.2MBeat by $3.2M
EPS$1.48Beat by $0.26
Revenue estimate$179.0M
EPS estimate$1.22
With 10-year Treasury rates remaining elevated, our diversified business model continues to create multiple sources of earnings support in the current rate environment. While the higher rates may pressure near-term gain on sale of loans, loans in our robust pipeline are still expected to convert into permanent loans over time. Meanwhile, higher rates continue to support valuations on our servicing rights and derivatives, providing an offset to pressure on gain on sale revenue. Together with strong liquidity, capital, and improving credit trends, this positions us well to continue generating earnings growth and long-term shareholder value.
Michael F. Petrie

Next report

Oct 27, 2026 (in a month)
Revenue estimate$183.0M
EPS estimate$1.40

Financials

Q2 2026

Income statement

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Revenue$182.2M+1.7%
Net income$78.3M+106%
EPS (diluted)$1.48+147%

Balance sheet

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Cash & equivalents$314.7M-51.4%
Total debt$4.3B+7.0%
Total equity$2.4B+9.6%
Total assets$21.2B+10.9%

Cash flow

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CapEx$2.4M-45.8%

Valuation & ratios

Valuation

as of 09/17/26
See full
Market cap$2.43B+66.9%
Enterprise value$6.41B+32.8%
P/E+3.3×
P/S3.4×+1.2×

Profitability

See full
Net margin37.6%-0.2pp

Returns & leverage

See full
Return on equity11.7%-0.7pp
Debt / equity1.8×0.0×

FAQ

When did Merchants Bancorp report Q2 2026 earnings?
Merchants Bancorp (MBIN) reported Q2 2026 earnings on July 28, 2026 after market close.
What were Merchants Bancorp's Q2 2026 revenue and EPS?
Merchants Bancorp reported revenue of $182.2M and eps of $1.48 for Q2 2026.
Did Merchants Bancorp beat estimates in Q2 2026?
Revenue beat the consensus estimate of $179.0M by $3.2M. EPS beat the consensus estimate of $1.22 by $0.26.
How did Merchants Bancorp's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.3% from $178.1M a year earlier and eps grew 146.7% from $0.60.
Where can I find Merchants Bancorp's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001104659-26-087529) and the 10-Q periodic report (0001104659-26-092702) directly on SEC EDGAR. The filing index links above go to sec.gov.