Merchants Bancorp (MBIN)

Nasdaq: MBIN · State Commercial Banks · Carmel, IN · filing with the SEC since 2014

Grade4.8

◀ Past 5.8● Present 6.0▶ Future 1.4

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Income statement, as filed

In thousands of US dollars (USD), as filed; per-share figures in US dollars; share counts. The fiscal year ends in December.

Income statement, by fiscal year, newest first
Fiscal year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Report filed	Feb 27, 2026	Feb 28, 2025	Mar 12, 2024	Mar 16, 2023	Mar 4, 2022	Mar 5, 2021	Mar 16, 2020	Mar 15, 2019	Mar 28, 2018	·
For lenders
Interest and dividend income	1,200,851	1,302,720	1,077,798	480,833	311,886	282,790	211,995	140,563	94,387	72,939
Interest and investment income	14,020	17,908	11,623	4,044	817	2,925	11,465	9,261	4,426	2,291
Interest expense on deposits and borrowings	683,792	780,100	629,727	162,282	·	·	·	·	·	·
Net interest income	517,059	522,620	448,071	318,551	277,994	224,146	122,298	89,971	66,597	53,971
Provision for credit losses	122,900	23,700	37,500	13,500^r	5,012	11,838	3,940	4,629	2,472	960
Net interest income after provision	399,305	498,342	407,840	301,256	272,982	212,308	118,358	85,342	64,125	53,011
Noninterest income	164,388	148,112	114,668	125,936	157,333	127,473	47,089	49,585	47,680	28,504
Noninterest expense	299,893	223,812	174,601	136,050	125,385	96,424	63,313	50,900	34,644	26,720
Interest expense	·	·	629,727	162,282	33,892	58,644	89,697	50,592	27,790	18,968
Income before income taxes	263,800	422,642	347,907	291,142	304,930	243,357	102,134	84,027	77,161	54,795
Income tax expense	45,030	102,256	68,673	71,421	77,826	62,824	24,805	21,153	22,477	21,668
Net income including non-controlling interests	·	·	279,234	219,721	227,104	180,533	77,329	62,874	54,684	33,127
Net income	218,770	320,386	279,234	219,721	227,104	180,533	77,329	62,874	54,684	33,127
Preferred dividends	41,062	34,909	34,670	25,983	20,873	14,473	9,216	3,330	3,330	2,002
Net income to common shareholders	173,552	283,654	244,564	193,738	206,231	166,060	68,113	59,544	51,354	31,125
Earnings per share, basic	3.78	6.32	5.66	4.49	4.78	3.85^r	1.58^r	1.3867^b	1.52^b	0.98^b
Earnings per share, diluted	3.78	6.30	5.64	4.47	4.76	3.85^r	1.58^r	1.38^b	1.52^b	0.98^b
Weighted average shares, basic	45,871,698	44,855,100	43,224,042	43,164,477	43,172,078	43,113,741^r	43,057,688^r	43,039,432^b	33,827,178^b	31,666,812^b
Weighted average shares, diluted	45,942,730	45,004,786	43,345,799	43,316,904	43,325,303	43,167,113^r	43,118,561^r	43,086,628^b	33,852,231^b	31,670,152^b

As filed with the SEC, each figure from the newest report that carries it, and linked to it. Nothing here is computed.Share counts and per-share figures are on the newest report's basis, after the 3-for-2 split of Jan 2022.A dot is a line not tagged for that period. ^r restated by the company in a later report; ^b a share figure put on the newest basis or filed in the wrong unit. Hover a figure for its filing and note.

What each line is, and the XBRL concept behind it

Interest and dividend income what its loans and securities earnedus-gaap:InterestAndDividendIncomeOperating

Interest and investment income what its cash and investments earnedus-gaap:InterestIncomeOther

Interest expense on deposits and borrowings what it paid for the money it lendsus-gaap:InterestExpenseOperating

Net interest income interest earned less interest paidus-gaap:InterestIncomeExpenseNet

Provision for credit losses set aside for loans that may not be repaidus-gaap:ProvisionForLoanLossesExpensed

Net interest income after provision interest income left after the provisionus-gaap:InterestIncomeExpenseAfterProvisionForLoanLoss

Noninterest income fees and other income that is not interestus-gaap:NoninterestIncome

Noninterest expense salaries, buildings and the other costs of running the bankus-gaap:NoninterestExpense

Interest expense what its borrowing costus-gaap:InterestExpense

Income before income taxes profit before taxus-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Income tax expense tax charged on the period's profitus-gaap:IncomeTaxExpenseBenefit

Net income including non-controlling interests the whole group's profit, minority holders' share includedus-gaap:ProfitLoss

Net income the profit or loss that belongs to the company's shareholdersus-gaap:NetIncomeLoss

Preferred dividends paid to preferred holders before common shareholdersus-gaap:PreferredStockDividendsIncomeStatementImpact

Net income to common shareholders what is left for common shareholdersus-gaap:NetIncomeLossAvailableToCommonStockholdersBasic

Earnings per share, basic net income per share outstandingus-gaap:EarningsPerShareBasic

Earnings per share, diluted net income per share, counting every share that could be issuedus-gaap:EarningsPerShareDiluted

Weighted average shares, basic the average count of shares outstandingus-gaap:WeightedAverageNumberOfSharesOutstandingBasic

Weighted average shares, diluted the average count with every share that could be issuedus-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

SI Assistanton MBIN · research, not advice