--- title: "Merchants Bankcorp Pref Shares MBIN 7.625 Perp 01/01/30 | 8-K: FY2026 Q1 Revenue: USD 175.25 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/284441976.md" datetime: "2026-04-28T20:14:51.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284441976.md) - [en](https://longbridge.com/en/news/284441976.md) - [zh-HK](https://longbridge.com/zh-HK/news/284441976.md) generator: "portal-rs" --- # Merchants Bankcorp Pref Shares MBIN 7.625 Perp 01/01/30 | 8-K: FY2026 Q1 Revenue: USD 175.25 M Revenue: As of FY2026 Q1, the actual value is USD 175.25 M. EPS: As of FY2026 Q1, the actual value is USD 1.25. EBIT: As of FY2026 Q1, the actual value is USD -44.34 M. ### Financial Performance Overview #### Net Income Merchants Bancorp reported net income of $67.7 million for the first quarter of 2026, marking a 16% increase, or $9.5 million, compared to the first quarter of 2025 . Net income remained relatively stable compared to the fourth quarter of 2025, which was $67.8 million . The improvement from Q1 2025 was primarily due to a $22.9 million (97%) increase in noninterest income and a $6.5 million (5%) increase in net interest income . The stability compared to Q4 2025 reflected a $12.5 million (45%) decrease in the provision for credit losses and an $8.0 million (10%) decrease in noninterest expense, offset by a $9.4 million (7%) decrease in net interest income and a $10.5 million (175%) increase in the provision for income taxes . #### Net Interest Income Net interest income for the first quarter of 2026 was $128.6 million, a 5% ($6.5 million) increase compared to the first quarter of 2025 . Compared to the fourth quarter of 2025, net interest income decreased by $9.4 million, or 7% . #### Noninterest Income Total noninterest income was $46.6 million in the first quarter of 2026, representing a significant increase of $22.9 million, or 97%, compared to the first quarter of 2025 . Compared to the fourth quarter of 2025, noninterest income declined slightly from $47.2 million . #### Noninterest Expense Noninterest expense totaled $75.6 million for the first quarter of 2026, a 23% ($14.0 million) increase compared to the first quarter of 2025 . Compared to the fourth quarter of 2025, noninterest expense decreased by $8.0 million, or 10% . #### Provision for Credit Losses The provision for credit losses was $15.299 million in the first quarter of 2026, a 98% increase compared to $7.727 million in the first quarter of 2025 . However, it was a 45% decrease compared to $27.761 million in the fourth quarter of 2025 . #### Total Assets Total assets reached a record $20.3 billion at March 31, 2026, an 8% ($1.5 billion) increase from March 31, 2025, and a 4% ($872.8 million) increase from December 31, 2025 . #### Total Deposits Total deposits amounted to $13.0 billion at March 31, 2026, reflecting a 4% ($545.6 million) increase from March 31, 2025 . Deposits remained relatively unchanged compared to December 31, 2025 . Core deposits were $12.1 billion, increasing $781.4 million (7%) during the quarter and representing 93% of total deposits . Brokered deposits declined by $870.8 million (50%) to $886.5 million . #### Loans Receivable (net of allowance for credit losses) Loans receivable, net of allowance for credit losses, totaled $11.4 billion at March 31, 2026, representing a 10% ($1.1 billion) increase from March 31, 2025, and a 4% ($448.5 million) increase from December 31, 2025 . #### Asset Quality Criticized loans receivable decreased by $226.0 million, or 31%, to $505.5 million compared to March 31, 2025, and decreased by $2.7 million, or 1%, compared to December 31, 2025 . Non-performing loans increased $50.0 million, or 25%, during the quarter to $247.5 million, or 2.16% of loans receivable, as of March 31, 2026 . Total delinquent loans declined 28% to $242.5 million as of March 31, 2026, but increased 17% from December 31, 2025 . #### Capital Ratios As of March 31, 2026, the company maintained a total capital ratio of 12.8%, Tier I capital ratio of 12.3%, Common Equity Tier I capital ratio of 9.4%, and Tier I capital to average assets ratio of 12.3% . #### Liquidity Merchants Bancorp maintained strong liquidity with $11.1 billion, or 55% of total assets, in highly liquid assets and $3.9 billion in unused borrowing capacity as of March 31, 2026 . #### Share Repurchases The company repurchased 73,164 shares of common stock for $3.0 million during the quarter . #### Segment Net Income - **Multi-family Mortgage Banking**: $11.014 million - **Mortgage Warehousing**: $28.648 million - **Banking**: $37.980 million - **Other**: - $9.910 million #### Outlook / Guidance Management expressed confidence in Merchants Bancorp’s financial position, highlighting record-high assets and tangible book value per share . They noted continued stabilization in asset quality, which positions the company for future growth . The company’s business model is designed to continuously sell or securitize a significant portion of its loans, providing flexibility in managing liquidity . ### Related Stocks - [MBINL.US](https://longbridge.com/en/quote/MBINL.US.md) ## Related News & Research - [Flexsteel Q4 2026 Earnings Preview](https://longbridge.com/en/news/296031749.md) - [REG - UIL Limited UIL Finance Ltd - Purchase of 2026 ZDP Shares](https://longbridge.com/en/news/296518280.md) - [Algorhythm Holdings Reports Second Quarter 2026 Financial Results](https://longbridge.com/en/news/296124832.md) - [Skye Bio amends 8-K to set Aug. 24 effective date for reverse stock split](https://longbridge.com/en/news/296471274.md) - [Baker Hughes declares Q3 2026 dividend of R$ 0.81 per unit](https://longbridge.com/en/news/296392545.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**