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AI brief of an SEC Form 8-K · Merchants Bancorp (MBIN)

Merchants Bancorp Q3 net income rises 92% to $105.2 million

Positive Impact 3 of 5 earnings

Merchants Bancorp reported third-quarter 2026 net income of $105.2 million, or $2.06 per diluted share, up from $54.7 million, or $0.97 per diluted share, a year earlier. Much of the gain came from positive fair value adjustments to servicing rights and a floor derivative, and the company said its September 14, 2026 acquisition of The Loan Exchange may be dilutive during its initial ramp-up period.

Key points

  • Net income was $105.2 million, up 34% from $78.3 million in the second quarter of 2026 and up 92% from $54.7 million in the third quarter of 2025.
  • Diluted earnings per share were $2.06, compared with $1.48 in the second quarter of 2026 and $0.97 in the third quarter of 2025.
  • Noninterest income rose to $80.8 million, including a $28.2 million positive fair value adjustment to servicing rights and a $19.1 million positive adjustment to floor derivatives.
  • Tangible book value per common share was $41.64 at September 30, 2026, up from $36.31 a year earlier. The company acquired The Loan Exchange on September 14, 2026, for total consideration of $13.9 million.

The filing

CompanyMerchants Bancorp (MBIN)
Form8-K, current report
Filed with the SECOct 28, 2026, 4:05 PM ET
Accession number0001104659-26-119617

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.