--- title: "Merchants Bancorp Pref Share MBINM 8.25 Perp 10/01/27 | 10-Q: FY2026 Q1 Revenue: USD 317.11 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285610601.md" datetime: "2026-05-07T20:20:33.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285610601.md) - [en](https://longbridge.com/en/news/285610601.md) - [zh-HK](https://longbridge.com/zh-HK/news/285610601.md) --- # Merchants Bancorp Pref Share MBINM 8.25 Perp 10/01/27 | 10-Q: FY2026 Q1 Revenue: USD 317.11 M Revenue: As of FY2026 Q1, the actual value is USD 317.11 M. EPS: As of FY2026 Q1, the actual value is USD 1.25. EBIT: As of FY2026 Q1, the actual value is USD -29.04 M. ### Segmented Financial Metrics and Strategic Summary #### Multi-family Mortgage Banking - **Interest Income**: $1,062 thousand in 2026, compared to $1,180 thousand in 2025. - **Interest Expense**: $20 thousand in both 2026 and 2025. - **Net Interest Income**: $1,042 thousand in 2026, down from $1,160 thousand in 2025. - **Provision for Credit Losses**: -$7 thousand in 2026, compared to -$48 thousand in 2025. - **Net Interest Income After Provision for Credit Losses**: $1,049 thousand in 2026, a decrease from $1,208 thousand in 2025. - **Noninterest Income**: $39,089 thousand in 2026, significantly up from $28,896 thousand in 2025. - **Salaries and Employee Benefits**: $20,976 thousand in 2026, slightly up from $20,928 thousand in 2025. - **Other Noninterest Expense**: $4,652 thousand in 2026, an increase from $3,632 thousand in 2025. - **Total Noninterest Expense**: $25,628 thousand in 2026, compared to $24,560 thousand in 2025. - **Income Before Income Taxes**: $14,510 thousand in 2026, a substantial increase from $5,544 thousand in 2025. - **Income Taxes**: $3,496 thousand in 2026, up from $2,131 thousand in 2025. - **Net Income (Loss)**: $11,014 thousand in 2026, significantly higher than $3,413 thousand in 2025. - **Total Assets**: $522,976 thousand in 2026, an increase from $460,441 thousand in 2025. - **Servicing Rights Fair Value Adjustments**: $7,379 thousand in 2026, compared to $449 thousand in 2025. - **Volume of Loans Originated and Acquired**: $1.2 billion in 2026, an increase of $245.3 million (26%) compared to $934.4 million in 2025. #### Mortgage Warehousing - **Interest Income**: $100,646 thousand in 2026, up from $86,117 thousand in 2025. - **Interest Expense**: $62,079 thousand in 2026, compared to $57,669 thousand in 2025. - **Net Interest Income**: $38,567 thousand in 2026, an increase from $28,448 thousand in 2025. - **Provision for Credit Losses**: -$707 thousand in 2026, compared to -$426 thousand in 2025. - **Net Interest Income After Provision for Credit Losses**: $39,274 thousand in 2026, higher than $28,874 thousand in 2025. - **Noninterest Income**: $4,321 thousand in 2026, a significant improvement from -$740 thousand in 2025. - **Salaries and Employee Benefits**: $1,968 thousand in 2026, slightly down from $1,977 thousand in 2025. - **Other Noninterest Expense**: $5,918 thousand in 2026, compared to $6,044 thousand in 2025. - **Total Noninterest Expense**: $7,886 thousand in 2026, a slight decrease from $8,021 thousand in 2025. - **Income Before Income Taxes**: $35,709 thousand in 2026, substantially up from $20,113 thousand in 2025. - **Income Taxes**: $7,061 thousand in 2026, compared to $4,715 thousand in 2025. - **Net Income (Loss)**: $28,648 thousand in 2026, significantly higher than $15,398 thousand in 2025. - **Total Assets**: $8,544,107 thousand in 2026, an increase from $5,902,165 thousand in 2025. - **Derivative Fair Value Adjustments**: $2,696 thousand in 2026, compared to -$2,258 thousand in 2025. - **Volume of Warehouse Loans Funded**: $19.6 billion in 2026, an increase of $7.7 billion (65%) compared to $11.9 billion in 2025. #### Banking - **Interest Income**: $165,158 thousand in 2026, down from $196,044 thousand in 2025. - **Interest Expense**: $80,526 thousand in 2026, compared to $108,107 thousand in 2025. - **Net Interest Income**: $84,632 thousand in 2026, a decrease from $87,937 thousand in 2025. - **Provision for Credit Losses**: $16,013 thousand in 2026, up from $8,201 thousand in 2025. - **Net Interest Income After Provision for Credit Losses**: $68,619 thousand in 2026, a decrease from $79,736 thousand in 2025. - **Noninterest Income**: $6,282 thousand in 2026, an improvement from -$1,067 thousand in 2025. - **Salaries and Employee Benefits**: $6,753 thousand in 2026, up from $6,479 thousand in 2025. - **Other Noninterest Expense**: $20,996 thousand in 2026, significantly higher than $10,831 thousand in 2025. - **Total Noninterest Expense**: $27,749 thousand in 2026, compared to $17,310 thousand in 2025. - **Income Before Income Taxes**: $47,152 thousand in 2026, down from $61,359 thousand in 2025. - **Income Taxes**: $9,172 thousand in 2026, compared to $14,252 thousand in 2025. - **Net Income (Loss)**: $37,980 thousand in 2026, lower than $47,107 thousand in 2025. - **Total Assets**: $10,850,657 thousand in 2026, a decrease from $12,002,564 thousand in 2025. - **Servicing Rights Fair Value Adjustments**: $1,559 thousand in 2026, compared to -$1,203 thousand in 2025. #### Other Segment (Corporate Reconciling Items and Eliminations) - **Interest Income**: $3,645 thousand in 2026, compared to $3,863 thousand in 2025. - **Interest Expense**: -$762 thousand in 2026, compared to -$788 thousand in 2025. - **Net Interest Income**: $4,407 thousand in 2026, down from $4,651 thousand in 2025. - **Provision for Credit Losses**: $0 thousand in both 2026 and 2025. - **Net Interest Income After Provision for Credit Losses**: $4,407 thousand in 2026, compared to $4,651 thousand in 2025. - **Noninterest Income**: -$3,093 thousand in 2026, compared to -$3,396 thousand in 2025. - **Salaries and Employee Benefits**: $8,868 thousand in 2026, up from $7,035 thousand in 2025. - **Other Noninterest Expense**: $5,511 thousand in 2026, compared to $4,738 thousand in 2025. - **Total Noninterest Expense**: $14,379 thousand in 2026, an increase from $11,773 thousand in 2025. - **Income (Loss) Before Income Taxes**: -$13,065 thousand in 2026, compared to -$10,518 thousand in 2025. - **Income Taxes**: -$3,155 thousand in 2026, compared to -$2,839 thousand in 2025. - **Net Income (Loss)**: -$9,910 thousand in 2026, compared to -$7,679 thousand in 2025. - **Total Assets**: $404,042 thousand in 2026, a decrease from $432,630 thousand in 2025. #### Future Outlook and Strategy The Company’s strategy focuses on funding low-risk multi-family, residential, and SBA loans through an originate-to-sell model, while retaining adjustable-rate loans for investment to mitigate interest rate risk. This approach aims to maximize net income and achieve higher shareholder returns with lower charge-offs and expense base by combining net interest income and noninterest income from low-risk asset sales. The termination of the Memorandum of Understanding with the FDIC indicates successful progress in addressing regulatory concerns and enhancing operational stability. ### Related Stocks - [MBINM.US](https://longbridge.com/en/quote/MBINM.US.md) ## Related News & Research - [Japan Bank Lending Growth Eases in July](https://longbridge.com/en/news/295338727.md) - [Bradesco profit rises 16% as loan growth offsets higher delinquencies](https://longbridge.com/en/news/295023993.md) - [Nordea analysis shows 97% of Finnish mortgage borrowers stick with floating rates despite demand for payment certainty](https://longbridge.com/en/news/295260651.md) - [Security Bancorp Q2 net income rises on higher loan volumes](https://longbridge.com/en/news/294998681.md) - [KBRA Assigns Preliminary Ratings to Provident Funding Mortgage Trust 2026-4 (PFMT 2026-4)](https://longbridge.com/en/news/295456734.md)