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Merchants Bancorp MBIN Mortgage servicing rights

Mortgage servicing rights at other companies

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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:ServicingAssetAtFairValueAmount.

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 itemJune 30,December 31,
Loans held for sale (includes $148,368 and $76,980 at fair value)4,615,8943,873,012
Loans receivable (includes $46,024 and $47,318 at fair value), net of allowance for credit losses on loans of $75,803 and $83,30112,262,80010,951,381
Premises and equipment, net74,66473,929
Servicing rights236,949217,296
Interest receivable82,07881,807
Goodwill8,0148,014
Other real estate owned72,38960,145
Other assets and receivables750,993713,237

Item 1. Interim Financial Statements (Unaudited)

FAQ

What is Merchants Bancorp's mortgage servicing rights?
Merchants Bancorp (MBIN) reported mortgage servicing rights of $236.95M in Q2 2026.
How has Merchants Bancorp's mortgage servicing rights changed year-over-year?
Merchants Bancorp's mortgage servicing rights increased by 22.7% year-over-year, from $193.04M to $236.95M.
What is the long-term trend for Merchants Bancorp's mortgage servicing rights?
Over 5 years (2020 to 2025), Merchants Bancorp's mortgage servicing rights has grown at a 21.3% compound annual growth rate (CAGR), from $82.6M to $217.3M.
What does mortgage servicing rights mean?
This represents the capitalized value of the contractual right to service mortgage loans for third-party investors in exchange for a fee. It is a significant intangible asset for banks that originate and sell mortgages while retaining servicing responsibilities. The valuation of these rights is sensitive to interest rate fluctuations and prepayment speeds, directly impacting non-interest income.

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