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Merchants Bancorp vs Seacoast Banking Corp of Florida: MBIN and SBCF compared
Merchants Bancorp is the larger company: $225M of revenue in its latest quarter (Q3 2026) against $215M for Seacoast Banking Corp of Florida (Q3 2026). Seacoast Banking Corp of Florida is growing faster (+37% against +32% a year earlier). Merchants Bancorp is more profitable, with an operating margin of 59.3% against 35.0%.
Where the money goes: MBIN and SBCF
Merchants Bancorp (MBIN) · Q3 2026
Merchants Bancorp, Q3 2026: revenue $225M (+32% year over year), operating margin 59.3%, net earnings $105M, operating cash flow $618M. The chart follows the revenue to costs, profit and cash.
Seacoast Banking Corp of Florida (SBCF) · Q3 2026
Seacoast Banking Corp of Florida, Q3 2026: revenue $215M (+37% year over year), operating margin 35.0%, net earnings $59.9M, operating cash flow $139M. The chart follows the revenue to costs, profit and cash.
| Merchants Bancorp (MBIN) | Seacoast Banking Corp of Florida (SBCF) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $225M | $215M |
| Revenue growth, Y/Y | +32% | +37% |
| Operating margin | 59.3% | 35.0% |
| Net earnings | $105M | $59.9M |
| Net margin | 46.8% | 27.9% |
| Operating cash flow | $618M | $139M |
| Free cash flow | $617M | $138M |
| Market value | $2.3B | $3.1B |
| P/E | 7.1× | 19.0× |
| Analysts’ mean target | $67.00 | $36.46 |
Where the revenue comes from
Merchants Bancorp
- Net interest income: $144M (64%)
- Noninterest income: $80.8M (36%)
Seacoast Banking Corp of Florida
- Net interest income: $183M (85%)
- Noninterest income: $31.6M (15%)
Questions
Which is bigger, Merchants Bancorp or Seacoast Banking Corp of Florida?
Merchants Bancorp is the larger company: $225M of revenue in its latest quarter (Q3 2026) against $215M for Seacoast Banking Corp of Florida (Q3 2026).
Is Merchants Bancorp or Seacoast Banking Corp of Florida growing faster?
Seacoast Banking Corp of Florida is growing faster (+37% against +32% a year earlier).
Which is more profitable, Merchants Bancorp or Seacoast Banking Corp of Florida?
Merchants Bancorp is more profitable, with an operating margin of 59.3% against 35.0%.
More: Merchants Bancorp earnings · how Merchants Bancorp makes money · Seacoast Banking Corp of Florida earnings · how Seacoast Banking Corp of Florida makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.