MBIN
Merchants Bancorp36.80
+0.08+0.22%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
1.69BP/E (TTM)
8.46Basic EPS (TTM)
4.35Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
Merchants Bancorp closed FY2025 ended December 31, 2025 with $19.4B assets up 3% y/y, yet net income fell 32% to $218.8M on $117.8M credit provisions—385% higher y/y—tied to multi-family value drops and fraud probes, while $124.1M charge-offs hit mainly five relationships. Q4 momentum shone in Mortgage Warehousing funding $66.3B (46% y/y surge vs industry 22%), multi-family originations $6.5B (4% y/y), and gain-on-sale leaping 37% y/y to $85.4M, but Banking bore provisions as criticized loans plunged 27% to $508M. Core deposits swelled 20% to $11.3B (87% of total), unused FHLB/Fed capacity jumped 23% to $5.3B; NIM slipped to 2.86%. Assets hit $19.4B. Interest rate volatility crimps mortgage volumes.
8-K
10% common dividend hike
Merchants Bancorp declared quarterly cash dividends on February 19, 2026, boosting the common stock payout to $0.11 per share—a 10% increase. Preferred dividends hit $0.375, $0.5156, and $0.4765 per depositary share for Series C, D, and E, respectively, all payable April 1 to March 13 record holders. Steady returns signal board confidence. No integration risks disclosed.
8-K
Q4 earnings up QoQ, quality improves
Merchants Bancorp posted Q4 2025 net income of $67.8 million, up 24% from Q3 yet down 29% from Q4 2024, as asset quality surged—criticized loans fell 13% to $508.2 million, delinquencies plunged 38% to $206.8 million. Total assets hit record $19.4 billion; tangible book value per share climbed to $37.51. Record multi-family loan sale gains signal 2026 momentum, but full-year earnings dropped 32%. Credit quality strengthens fast.
8-K
Dividends declared for Q4
Merchants Bancorp declared quarterly cash dividends on November 19, 2025: $0.10 per common share, $0.375 per Series C depositary share, $0.5156 per Series D, and $0.4765 per Series E. Payable January 2, 2026, to holders of record December 15. Steady payouts signal confidence. No changes from prior quarters disclosed.
10-Q
Q3 FY2025 results
Merchants Bancorp posted Q3 net income of $54.7M, down 11% y/y, with diluted EPS at $0.97 (down 17%). Net interest income fell to $128.1M (-3.6% y/y) amid a 17bp NIM squeeze to 2.82%, yet deposits swelled 17% ytd to $13.9B (92% core). Provision for credit losses jumped to $29.2M (derived, +324% y/y) on multi-family charge-offs and fraud probes, pushing ACL-loans to 0.88% of loans. Gain on loan sales climbed 47% y/y to $24.7M on higher multi-family volume. Borrowings dropped 34% ytd to $2.9B; cash equivalents rose 25%. Warehousing funded $17.4B (+33% y/y). Banking MOU curbs concentrations. Multi-family delinquencies tick up.
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