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Merchants Bancorp MBIN Fair Value Adjustment Of Servicing Assets

Discontinued — last reported Q3 '25

Fair Value Adjustment Of Servicing Assets at other companies

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Segments

By segment

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Multi Family Mortgage Banking$4.61M+518%
Banking$1.41M+389%

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 mbin:FairValueAdjustmentOfServicingAssets.

The source filing: Merchants Bancorp’s 10-Q, filed November 7, 2025.

Filed
Nov 7, 2025
Fiscal quarter
Q3 FY2025
Calendar quarter
Q3 2025
Accession
0001104659-25-108470
Three Months Ended September 30, 2025Multi-family / Mortgage / BankingMortgage / WarehousingBankingOtherTotal
Income (loss) before income taxes15,40227,54234,171(12,532)64,583
Income taxes3,3263,9784,620(2,042)9,882
Net income (loss)$12,076$23,564$29,551$(10,490)$54,701
Total assets$513,039$6,993,817$11,522,375$325,416$19,354,647
Significant non-cash items:
Included in other noninterest income:
Servicing rights fair value adjustments$2,517$(394)$2,123
Derivative fair value adjustments(770)(770)

Item 1. Interim Financial Statements (Unaudited)

FAQ

What is Merchants Bancorp's fair value adjustment of servicing assets?
Merchants Bancorp (MBIN) reported fair value adjustment of servicing assets of $2.12M in Q3 2025.
How has Merchants Bancorp's fair value adjustment of servicing assets changed year-over-year?
Merchants Bancorp's fair value adjustment of servicing assets increased by 131.6% year-over-year, from -$6.73M to $2.12M.
What does fair value adjustment of servicing assets mean?
Fair Value Adjustment Of Servicing Assets as reported by Merchants Bancorp Depositary Shares Preferred Series C.

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