What is Merchants Bancorp's fair value of servicing rights?

Merchants Bancorp (MBIN) reported fair value of servicing rights of $229.58M in Q1 2026.

How has Merchants Bancorp's fair value of servicing rights changed year-over-year?

Merchants Bancorp's fair value of servicing rights increased by 21.0% year-over-year, from $189.71M to $229.58M.

What is the long-term trend for Merchants Bancorp's fair value of servicing rights?

Over 5 years (2020 to 2025), Merchants Bancorp's fair value of servicing rights has grown at a 21.3% compound annual growth rate (CAGR), from $82.6M to $217.3M.

Merchants Bancorp MBIN Fair value of servicing rights

Fair value of servicing rights at other companies

Rocket CompaniesRKT

$19.38B+164%

JPMorgan ChaseJPM

——

Live Oak BancsharesLOB

——

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

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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:ServicingAssetAtFairValueAmount.

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 fair value of servicing rights?: Merchants Bancorp (MBIN) reported fair value of servicing rights of $229.58M in Q1 2026.
How has Merchants Bancorp's fair value of servicing rights changed year-over-year?: Merchants Bancorp's fair value of servicing rights increased by 21.0% year-over-year, from $189.71M to $229.58M.
What is the long-term trend for Merchants Bancorp's fair value of servicing rights?: Over 5 years (2020 to 2025), Merchants Bancorp's fair value of servicing rights has grown at a 21.3% compound annual growth rate (CAGR), from $82.6M to $217.3M.