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Merchants Bancorp MBIN Banking — Noninterest Expense

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Other financials

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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Operating cash flow-$597.3M-503%
CapEx$2.4M-45.8%
Free cash flow-$598.5M-524%

Valuation

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Market cap$2.48B+75.9%
Enterprise value$6.47B+35.2%
P/E9.3×+3.7×
P/S3.5×+1.4×

Profitability

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Net margin37.6%-0.2pp
FCF margin-155%-376pp

Returns & leverage

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

Where this comes from

Reported directly by Merchants Bancorp in its filing.

Tagged under the XBRL concept us-gaap:NoninterestExpense.

The source filing: Merchants Bancorp’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-092702
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Technology expense2,8932,4465,5724,820
Credit risk transfer premium expense6,1004,76711,8648,629
Other expense11,05012,61124,24318,349
Total noninterest expense73,24877,337148,890139,001
Income Before Income Taxes99,78448,835184,090125,333
Provision for income taxes21,48110,85438,05529,113
Net Income$78,303$37,981$146,035$96,220
Dividends on preferred stock(10,266)(10,266)(20,531)(20,531)

Item 1. Interim Financial Statements (Unaudited)

FAQ

What is Merchants Bancorp's banking — noninterest expense?
Merchants Bancorp (MBIN) reported banking — noninterest expense of $19.86M in Q2 2026.
How has Merchants Bancorp's banking — noninterest expense changed year-over-year?
Merchants Bancorp's banking — noninterest expense decreased by 15.0% year-over-year, from $23.36M to $19.86M.
What is the long-term trend for Merchants Bancorp's banking — noninterest expense?
Over 4 years (2021 to 2025), Merchants Bancorp's banking — noninterest expense has grown at a 40.6% compound annual growth rate (CAGR), from $24.14M to $94.35M.
What does banking — noninterest expense mean?
Represents the total operating costs incurred by the banking segment, excluding interest expense. This includes personnel, technology, occupancy, and other administrative overheads required to run the business. It is a key metric for evaluating the segment's overall cost structure and operational efficiency.

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