Merchants Bancorp (MBINM) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — MBINM

Balance Sheet

(in billions USD)

Metric	Q2 2026	Q1 2026	Q3 2025	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022	Q3 2021	Q1 2021
Cash & Equivalents	0.31	0.08	0.60	0.65	0.52	0.60	0.54	0.51	0.41	0.38	0.37	0.32	0.26	0.41	0.80	0.27
Total Assets	21.23	20.32	19.35	19.14	18.80	18.65	18.21	17.82	16.50	15.87	14.24	11.98	11.09	9.65	10.95	9.71
Total Deposits	14.25	12.95	13.93	12.69	12.41	12.89	14.92	13.98	13.01	13.06	11.35	10.32	8.30	7.48	8.95	8.06
Long-term Debt	--	--	--	--	--	--	--	--	--	--	--	0.10	1.44	--	0.81	0.55
Total Liabilities	18.84	17.99	17.13	16.96	16.64	16.71	16.32	16.05	14.86	14.31	12.74	10.57	9.86	8.46	9.84	8.69
Retained Earnings	1.60	1.54	1.43	1.39	1.37	1.25	1.20	1.14	1.00	0.93	0.88	0.79	0.74	0.69	0.61	0.52
Total Stockholder Equity	2.39	2.33	2.23	2.18	2.16	1.94	1.89	1.78	1.63	1.56	1.51	1.41	1.23	1.19	1.11	1.01

Income Statement

(in millions USD) (except per-share rows)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Interest & Dividend Income	294.07	270.51	307.47	301.78	304.40	287.20	321.35	338.93	328.27	314.17	311.76	296.68	258.07	211.29	181.44	134.11	89.27	76.01	82.59	77.31
Interest Expense	--	--	--	--	--	--	--	--	--	187.12	187.43	179.24	152.45	110.60	86.03	48.73	17.24	10.29	9.84	8.43
Net Interest Income	136.54	128.65	138.09	128.06	128.72	122.20	134.62	132.82	128.12	127.06	124.33	117.44	105.62	100.69	95.41	85.39	72.03	65.72	72.74	68.88
Provision for Credit Losses	9.18	15.30	27.76	29.24	53.03	7.73	2.69	6.90	9.97	4.73	6.75	4.01	22.60	6.87	6.41	2.23	6.21	1.98	(7.44)	1.08
Non-interest Income	45.68	46.60	47.20	43.01	50.48	23.69	59.15	16.74	31.35	40.87	34.45	36.07	29.88	14.26	22.98	29.19	39.17	34.60	40.27	40.27
Non-interest Expense	73.25	75.64	83.64	77.25	77.34	61.66	63.20	61.32	50.38	48.91	52.58	42.93	44.32	34.77	37.11	34.95	32.96	31.03	37.65	29.47
Pretax Income	99.78	84.31	73.88	64.58	48.84	76.50	127.88	81.35	99.13	114.29	99.45	106.56	68.58	73.32	74.88	77.40	72.03	66.84	72.78	78.60
Tax Provision	21.48	16.57	6.04	9.88	10.85	18.26	32.21	20.07	22.73	27.24	21.98	25.06	3.27	18.36	17.72	18.91	18.10	16.70	17.58	20.10
Net Income	78.30	67.73	67.85	54.70	37.98	58.24	95.67	61.27	76.39	87.05	77.47	81.50	65.30	54.96	57.16	58.49	53.94	50.14	55.20	58.50
Basic EPS	1.48	1.25	1.28	0.97	0.60	0.93	1.84	1.17	1.50	1.81	1.60	1.68	1.31	1.07	1.12	1.22	1.12	1.03	(0.67)	1.83
Diluted EPS	1.48	1.25	1.28	0.97	0.60	0.93	1.84	1.17	1.49	1.80	1.58	1.68	1.31	1.07	1.12	1.22	1.11	1.02	(0.67)	1.83

Cash Flow Statement

(in billions USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Operating Cash Flow	0.21	(0.60)	(0.40)	0.03	(0.12)	0.15	(0.01)	(0.49)	0.05	(0.38)	0.71	(0.53)	(0.24)	(0.30)	(0.86)	0.96	(0.42)	1.30	0.34	(0.39)
Capital Expenditures	0.00	0.00	0.00	0.01	0.00	0.01	0.01	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Free Cash Flow*	0.21	(0.60)	(0.40)	0.02	(0.13)	0.14	(0.02)	(0.50)	0.05	(0.39)	0.71	(0.53)	(0.24)	(0.30)	(0.86)	0.96	(0.42)	1.29	0.34	(0.39)
Investing Cash Flow	(0.77)	(0.34)	0.01	(0.18)	(0.03)	-0.00	(0.04)	0.18	(0.32)	(0.70)	(0.89)	(0.01)	(1.24)	(1.12)	0.19	(1.70)	(1.10)	(0.25)	(0.36)	(0.11)
Financing Cash Flow	0.79	0.80	-0.00	0.10	0.27	(0.10)	(0.07)	0.37	0.30	1.00	0.35	0.57	1.49	1.57	0.57	0.80	1.37	(1.67)	0.25	1.12

* Derived from reported values

Dividends Per Share

(USD)

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021
Dividends Per Share	0.44	0.44	(0.80)	0.40	0.40	0.40	(0.72)	0.36	0.36	0.36	(0.64)	0.32	0.32	0.32	(0.56)	0.28	0.28	0.28	(0.12)	0.36