State Ledger
Company profile

Merchants Bancorp CIK 1629019

Tickers
MBIN (Nasdaq) · MBINL (Nasdaq) · MBINM (Nasdaq) · MBINN (Nasdaq)
Industry
State Commercial Banks
Headquarters
Carmel, IN 46032
Fiscal year end
2025 (FY)
Market Data
Close
$48.95
Change
-$0.87
Change %
-1.75%
Volume
4,896

MBIN · trading date Oct 9, 2026 · previous close $49.82 · source: Alpaca (IEX feed, not consolidated full-market data).

Key Financials
Revenue
—
Net income
$218.77M
Total assets
$19.45B
Total liabilities
$17.17B
Stockholders' equity
$2.28B
Cash & equivalents
$212.20M
Operating income
—
Operating cash flow
-$341.25M
Capital expenditures
$20.94M

Fiscal year 2025, via 10-K filed 2026-02-27. A dash means this figure wasn't reported in the source filing under a field State Ledger recognizes - not that the value is zero.

Financial Performance
Operating margin
—
Net margin
—
Free cash flow
-$362.19M
Free cash flow margin
—
Liabilities / assets
88.3%
Equity / assets
11.7%
CapEx / revenue
—
Operating cash flow / net income
-1.56×

Derived from the fiscal year 2025 figures above. These metrics are mathematical calculations and do not represent a rating or assessment of the company.

Financial History
Fiscal yearRevenueNet incomeAssetsLiabilitiesEquity
2025 — $218.77M $19.45B $17.17B $2.28B
2024 — $320.39M $18.81B $16.56B $2.24B
2023 — $279.23M $16.95B $15.25B $1.70B
2022 — $219.72M $12.62B $11.16B $1.46B
2021 — $227.10M $11.28B $10.12B $1.16B
Company Details
SIC code
6022
State of incorporation
IN
Active filer
Yes
Most recent SEC filing
Form 4
2026-08-24
Financials filed via
Form 10-K
filed 2026-02-27

"Most recent SEC filing" may differ from the filing used for the financial figures above.

Location
Carmel, IN 46032
410 MONON BLVD
Data & Methodology

SEC EDGAR submissions API (identity, collected Sep 19, 2026, 15:11 UTC) and SEC XBRL Company Facts API (financials, collected Sep 26, 2026, 15:31 UTC) · figures as originally filed, not restated · a dash always means a value wasn't reported, never a real zero.

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