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Merchants Bancorp MBIN Mortgage Warehousing — Interest And Dividend Income Operating

Other segment segments

Banking
$172.07M-13.3%
Multi Family Mortgage Banking
$1.12M-2.0%

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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:InterestAndDividendIncomeOperating.

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
Held to maturity18,07623,16637,55547,524
FHLB stock and other equity securities (dividends)4,9794,6419,3739,013
Other4,4543,5526,4946,645
Total interest income294,072304,399564,583591,603
Interest Expense
Deposits116,839131,375226,688255,316
Short-term borrowings37,60836,98166,54570,345
Long-term borrowings3,0897,3246,16615,027

Item 1. Interim Financial Statements (Unaudited)

FAQ

What is Merchants Bancorp's mortgage warehousing — interest and dividend income operating?
Merchants Bancorp (MBIN) reported mortgage warehousing — interest and dividend income operating of $117.17M in Q2 2026.
How has Merchants Bancorp's mortgage warehousing — interest and dividend income operating changed year-over-year?
Merchants Bancorp's mortgage warehousing — interest and dividend income operating increased by 16.3% year-over-year, from $100.77M to $117.17M.
What is the long-term trend for Merchants Bancorp's mortgage warehousing — interest and dividend income operating?
Over 4 years (2021 to 2025), Merchants Bancorp's mortgage warehousing — interest and dividend income operating has grown at a 32.5% compound annual growth rate (CAGR), from $134.12M to $413.66M.
What does mortgage warehousing — interest and dividend income operating mean?
Represents the total gross interest and dividend revenue generated from the mortgage warehousing business segment. This reflects the income earned from providing short-term financing to mortgage originators before loans are sold to secondary market investors. It serves as a primary indicator of the scale and volume of the bank's warehouse lending activities.

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