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Merchants Bancorp MBIN Multi Family Mortgage Banking — Noninterest Income

Other segment segments

Mortgage Warehousing
$3.77M-44.8%
Banking
$2.02M-38.3%

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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:NoninterestIncome.

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
Mortgage warehouse fees1,8572,0393,4773,552
Syndication and asset management fees6,9339,70710,05013,096
Other income11,7389,25424,99512,416
Total noninterest income45,68050,48092,27974,173
Noninterest Expense
Salaries and employee benefits39,34543,56677,91079,985
Loan expense1,1771,1422,3621,940
Occupancy and equipment3,4622,4946,5434,845

Item 1. Interim Financial Statements (Unaudited)

FAQ

What is Merchants Bancorp's multi family mortgage banking — noninterest income?
Merchants Bancorp (MBIN) reported multi family mortgage banking — noninterest income of $42.84M in Q2 2026.
How has Merchants Bancorp's multi family mortgage banking — noninterest income changed year-over-year?
Merchants Bancorp's multi family mortgage banking — noninterest income decreased by 4.3% year-over-year, from $44.75M to $42.84M.
What is the long-term trend for Merchants Bancorp's multi family mortgage banking — noninterest income?
Over 4 years (2021 to 2025), Merchants Bancorp's multi family mortgage banking — noninterest income has grown at a 4.5% compound annual growth rate (CAGR), from $141.61M to $168.87M.
What does multi family mortgage banking — noninterest income mean?
This metric captures revenue generated by the multi-family mortgage banking segment from sources other than interest, such as mortgage servicing fees, origination fees, and other service-related charges. It highlights the segment's ability to generate fee-based income independent of interest rate fluctuations.

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