Merchants Bancorp (MBIN)

Merchants Bancorp Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	319.84	212.2	476.61	584.42	226.16	1,033
Investment Securities	788.91	606.54	566.81	552.67	422.13	344.19
Trading Asset Securities	-	677.08	480.79	158.23	160.34	570.72
Mortgage-Backed Securities	1,535	2,119	2,302	1,941	1,134	34.83
Total Investments	2,324	3,402	3,349	2,652	1,717	949.74
Gross Loans	12,715	11,035	10,438	10,200	7,471	5,783
Allowance for Loan Losses	-82.13	-83.3	-84.39	-71.75	-44.01	-31.34
Net Loans	12,633	10,951	10,354	10,128	7,427	5,751
Property, Plant & Equipment	76.7	79.94	66.95	52.4	46.41	31.21
Goodwill	19.14	8.01	8.01	15.85	15.85	15.85
Other Intangible Assets	-	0.04	0.06	0.74	1.19	1.71
Loans Held for Sale	4,044	3,873	3,772	3,145	2,911	3,303
Accrued Interest Receivable	81.04	81.81	83.41	91.35	56.26	24.1
Other Receivables	-	-	-	-	-	6.5
Other Current Assets	-	-	-	-	-	3.9
Other Real Estate Owned & Foreclosed	91.7	60.15	8.21	-	-	-
Other Long-Term Assets	1,067	552.67	469.77	234.55	176.08	128.91
Total Assets	20,883	19,449	18,806	16,953	12,615	11,279

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Interest Bearing Deposits	14,511	11,940	10,986	13,130	9,558	7,767
Institutional Deposits	-	497.45	694.8	411.2	186.4	574
Non-Interest Bearing Deposits	531.11	604.08	239.01	520.07	326.88	641.44
Total Deposits	15,042	13,041	11,920	14,061	10,071	8,983
Short-Term Borrowings	-	7.86	50.49	12.82	74.12	478.29
Current Portion of Long-Term Debt	-	3,760	-	-	-	-
Current Portion of Leases	-	2.29	-	-	-	-
Long-Term Debt	3,018	79.73	164.09	192.74	-	-
Federal Home Loan Bank Debt, Long-Term	-	2.83	4,172	771.39	859.39	556.95
Long-Term Leases	-	4.97	9.3	11.25	11.99	-
Long-Term Deferred Tax Liabilities	60.46	33.9	25.29	19.92	19.61	19.17
Other Long-Term Liabilities	280.36	235.37	221.25	181.85	119.03	86.2
Total Liabilities	18,400	17,168	16,562	15,251	11,155	10,123

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Preferred Stock, Redeemable	413.83	413.83	534.68	362.15	362.15	362.15
Preferred Stock, Non-Redeemable	137.46	137.46	137.46	137.46	137.46	-
Total Preferred Equity	551.29	551.29	672.14	499.61	499.61	362.15
Common Stock	245.27	243.31	240.31	140.37	137.78	137.57
Retained Earnings	1,689	1,486	1,331	1,064	832.87	657.15
Comprehensive Income & Other	-2.49	-0.03	-0.13	-2.49	-10.52	-1.45
Total Common Equity	1,932	1,729	1,571	1,201	960.13	793.26
Shareholders' Equity	2,483	2,281	2,243	1,701	1,460	1,155
Total Liabilities & Equity	20,883	19,449	18,806	16,953	12,615	11,279

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	3,018	3,858	4,396	988.2	945.5	1,035
Net Cash (Debt)	-2,696	-2,967	-3,437	-242.2	-555.53	573.98
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-58.61	-64.58	-76.37	-5.59	-12.82	13.25
Filing Date Shares Outstanding	45.94	45.96	45.85	43.33	43.23	43.27
Total Common Shares Outstanding	45.94	45.89	45.77	43.24	43.11	43.18
Book Value Per Share	42.05	37.68	34.33	27.78	22.27	18.37
Tangible Book Value	1,913	1,721	1,563	1,185	943.1	775.71
Tangible Book Value Per Share	41.64	37.51	34.15	27.40	21.88	17.96

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 3, 2026

Data Sources Report a data error