Earnings ·
Merchants Bancorp reports Q3 net income of $105.2 million, up 92% year-over-year
MBINMerchants Bancorp
Merchants Bancorp reported third-quarter 2026 net income of $105.2 million, or diluted earnings per share of $2.06, compared to $54.7 million and $0.97 in the prior-year period. Earnings surged due to a $37.8 million increase in noninterest income, driven by fair value adjustments to servicing rights and derivatives, alongside a 13% rise in net interest income. Total assets reached $20.9 billion, while tangible book value per share hit a record high of $41.64. The company also completed the acquisition of The Loan Exchange for $13.9 million to expand its mortgage production platform. Merchants Bancorp is a diversified bank holding company providing commercial banking, multi-family mortgage financing, and mortgage warehousing services.