---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-087529"
form_type: "8-K"
ticker: "MBIN"
cik: "0001629019"
company_name: "Merchants Bancorp"
filed_at: "2026-07-28T20:05:36+00:00"
generated_at: "2026-07-28T20:06:17.234131+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Merchants Bancorp Q2 net income $78.3M, up 106% YoY; EPS $1.48, up 147% YoY; assets hit $21.2B record

## Summary
- Net income $78.3M, diluted EPS $1.48, up 106% and 147% YoY respectively.
- Total assets $21.2B (record); tangible book value $39.93 (30th consecutive quarterly high).
- Credit quality improved: criticized loans down 12% QoQ to $444.7M; provision for credit losses down 83% YoY to $9.2M.
- Net interest margin 2.81% (down 2bps YoY); gain on sale of loans down 44% YoY; loan servicing fees up 95% YoY.
- Executed credit default swap on $169.9M multi-family loan pool; total deposits $14.3B, up 10% QoQ.

## SEC filing metadata
- accession: 0001104659-26-087529
- form_type: 8-K
- ticker: MBIN
- cik: 0001629019
- company_name: Merchants Bancorp
- filed_at: 2026-07-28T20:05:36+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1629019/000110465926087529/0001104659-26-087529-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1629019/000110465926087529/tm2621390d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-087529
- JSON: https://secwatch.observer/filing/0001104659-26-087529.json
- Plain text: https://secwatch.observer/filing/0001104659-26-087529.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.