Filing Flows › Merchants Bancorp (MBIN) › How it makes money
How Merchants Bancorp (MBIN) makes money
Merchants Bancorp (MBIN) made $225M of revenue in the third quarter 2026 (Q3 2026), +31% from a year earlier. Net interest income brought in $144M (64%); Noninterest income brought in $80.8M (36%). Of every dollar of revenue, 59¢ was left as operating profit, 47¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Net interest income | $144M | 64.1% | +6% | +13% |
| Noninterest income | $80.8M | 35.9% | +77% | +88% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $225M | 100.0% |
| Operating profit | $133M | 59.3% |
| Income tax | $28.2M | 12.6% |
| Net earnings | $105M | 46.8% |
| Operating cash flow | $618M | 274.9% |
| Free cash flow | $617M | 274.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $225M | +32% |
From Merchants Bancorp's 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does Merchants Bancorp make money?
Merchants Bancorp (MBIN) made $225M of revenue in the third quarter 2026 (Q3 2026), +31% from a year earlier. Net interest income brought in $144M (64%); Noninterest income brought in $80.8M (36%). Of every dollar of revenue, 59¢ was left as operating profit, 47¢ was left as net earnings.
What is Merchants Bancorp's biggest business?
Net interest income: $144M in the third quarter 2026, 64% of revenue, +13% from a year earlier.
What is Merchants Bancorp's profit margin?
Net earnings were $105M, 46.8% of revenue, in the third quarter 2026; the operating margin was 59.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.