Merchants Bancorp (MBIN)

Merchants Bancorp Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	228.26	218.77	320.39	279.23	219.72	227.1
Depreciation & Amortization	4.07	3.47	3.01	2.85	2.49	2.19
Provision for Credit Losses	125.33	117.75	24.28	40.23	17.3	5.01
Net Change in Loans Held-for-Sale	-1,179	-431.66	-1,016	-533.21	845.16	-180.95
Other Adjustments	-119.6	-220.92	-133.35	-101.85	-92.4	-99.78
Changes in Accrued Interest and Accounts Receivable	-21.07	-31.67	-20.78	-85.18	-37.26	-6.62
Changes in Accounts Payable	3.97	3.01	-12.98	41.52	20.78	3.82
Changes in Other Operating Activities	1.02	-	-	-	-	-
Operating Cash Flow	-1,087	-341.25	-835.28	-356.4	975.77	-49.22
Net Change in Short-Term Interbank Lending and Reverse Repurchase Agreements	0.04	0.04	1.79	0.12	2.42	0.69
Net Change in Loans Held-for-Investment	-782.14	-378.42	-702.06	-2,341	-1,692	-456.95
Net Change in Securities and Investments	221.98	210.23	4.74	-914.11	-1,169	-14.74
Payments for Business Acquisitions	-	-	-	-	-	-0.46
Proceeds from Business Divestments	-1.37	-	-170.59	-	-	-
Capital Expenditures	-15.23	-20.94	-18.39	-7.53	-6.76	-3.65
Purchases of Intangible Assets	-14.61	-14.48	-	-	-2.03	-
Proceeds from Sale of Intangible Assets	-	-	-	-	-	0.44
Other Investing Activities	7.35	7.9	10.24	1.94	4.4	0.4
Investing Cash Flow	-530.03	-195.67	-874.28	-3,260	-2,863	-474.26
Net Change in Deposits	472.69	878.65	-1,912	3,990	1,089	1,572
Long-Term Debt Issued	334,405	323,575	166,324	95,789	65,782	31,473
Long-Term Debt Repaid	-333,559	-324,121	-162,903	-95,756	-65,885	-31,788
Net Long-Term Debt Issued (Repaid)	845.7	-546.72	3,421	33.13	-103.56	-314.3
Issuance of Common Stock	-	-	97.66	-	-	-
Repurchase of Common Stock	-3	-	-	-	-3.94	-
Net Common Stock Issued (Repurchased)	-3	-	97.66	-	-3.94	-
Issuance of Preferred Stock	-	-	222.75	-	137.46	191.08
Repurchase of Preferred Stock	-	-	-177.04	-	-	-41.63
Net Preferred Stock Issued (Repurchased)	-	-	45.7	-	137.46	149.46
Common Dividends Paid	-59.88	-59.42	-51.17	-48.51	-38.07	-31.24
Financing Cash Flow	1,179	272.51	1,602	3,975	1,081	1,376
Net Cash Flow	-438.08	-264.41	-107.81	358.26	-806.45	852.89
Free Cash Flow	-1,102	-362.19	-853.67	-363.93	969.01	-52.86
FCF Margin	-188.19%	-64.25%	-132.05%	-69.65%	226.83%	-12.28%
Free Cash Flow Per Share	-23.97	-7.88	-18.97	-8.40	22.37	-1.22
Levered Free Cash Flow	1,007	-419.31	3,656	229.36	69.41	-112.32
Unlevered Free Cash Flow	-27.24	-46.14	-49.14	-48.34	-20.76	-4.25

Updated May 7, 2026. Data Source: Fiscal.ai. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q