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Merchants Bancorp MBIN Mortgage Warehousing — Net Income Loss

Other segment segments

Banking
$37.98M-19.4%
Multi Family Mortgage Banking
$11.01M+223%

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ASB(Gain) loss on mortgage banking activities, net
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MFAMortgage-Related Assets — Net income/(loss)
$26.14M-53.5%

Other financials

Income statement

See full
Revenue$175.2M+20.1%
Net income$67.7M+16.3%
EPS (diluted)$1.25+34.4%

Balance sheet

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Cash & equivalents$83.2M-84.0%
Total debt$4.8B+19.4%
Total equity$2.3B+7.8%
Total assets$20.3B+8.1%

Cash flow

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Operating cash flow-$597.3M-503%
CapEx$1.1M-83.3%
Free cash flow-$598.5M-524%

Valuation

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Market cap$2.29B+16.3%
Enterprise value$7B+28.8%
P/E10×+3.3×
P/S3.2×+0.2×

Profitability

See full
Net margin32.1%-12.8pp
FCF margin-155%-376pp

Returns & leverage

See full
Return on equity10.2%-4.6pp
Debt / equity2.1×+0.2×

Where this comes from

Reported directly by Merchants Bancorp in its filing.

Tagged under the XBRL concept us-gaap:NetIncomeLoss.

The official record: Merchants Bancorp’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Merchants Bancorp's mortgage warehousing — net income loss?
Merchants Bancorp (MBIN) reported mortgage warehousing — net income loss of $28.65M in Q1 2026.
How has Merchants Bancorp's mortgage warehousing — net income loss changed year-over-year?
Merchants Bancorp's mortgage warehousing — net income loss increased by 86.1% year-over-year, from $15.4M to $28.65M.
What is the long-term trend for Merchants Bancorp's mortgage warehousing — net income loss?
Over 4 years (2021 to 2025), Merchants Bancorp's mortgage warehousing — net income loss has grown at a 0.5% compound annual growth rate (CAGR), from $95.16M to $96.94M.
What does mortgage warehousing — net income loss mean?
This metric represents the final bottom-line profit or loss generated by the mortgage warehousing segment after accounting for all interest income, noninterest income, operating expenses, and taxes. It serves as the primary indicator of the segment's operational success and financial performance. A positive value indicates profitability, while a negative value indicates a net loss for the period.