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Merchants Bancorp MBIN Mortgage Warehousing — Noninterest Expense

Other segment segments

Banking
$27.75M+60.3%
Multi Family Mortgage Banking
$25.63M+4.3%

Similar metrics at other companies

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$13.59M+7.5%
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FBPMortgage Banking — Other Noninterest Expense
$817K-15.9%
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$5.59M-2.5%
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HTHMortgage Origination — Noninterest Expense
$74.4M-0.3%

Other financials

Income statement

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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

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

Returns & leverage

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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:NoninterestExpense.

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 — noninterest expense?
Merchants Bancorp (MBIN) reported mortgage warehousing — noninterest expense of $7.89M in Q1 2026.
How has Merchants Bancorp's mortgage warehousing — noninterest expense changed year-over-year?
Merchants Bancorp's mortgage warehousing — noninterest expense decreased by 1.7% year-over-year, from $8.02M to $7.89M.
What is the long-term trend for Merchants Bancorp's mortgage warehousing — noninterest expense?
Over 4 years (2021 to 2025), Merchants Bancorp's mortgage warehousing — noninterest expense has grown at a 28.7% compound annual growth rate (CAGR), from $11.95M to $32.77M.
What does mortgage warehousing — noninterest expense mean?
The aggregate of all operating expenses, including labor and miscellaneous costs, required to run the mortgage warehousing segment. This metric measures the total overhead burden of the business unit. It is essential for calculating the efficiency ratio and assessing the overall cost structure of the segment.