Merchants Bancorp
Merchants Bancorp (NASDAQ: MBCORP) operates as a diversified bank holding company providing financial services through multiple business segments. Founded in 1990 as a mortgage banking company focused on multi-family housing and senior living properties, the company has evolved into a national financial services… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Merchants Bancorp does
In the company’s own words
Merchants Bancorp (NASDAQ: MBCORP) operates as a diversified bank holding company providing financial services through multiple business segments. Founded in 1990 as a mortgage banking company focused on multi-family housing and senior living properties, the company has evolved into a national financial services provider with approximately 735 employees across multiple states, including 424 based in central Indiana.
The company operates through three primary segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment specializes in originating and servicing loans for affordable multi-family rental housing and healthcare facility financing, with particular expertise in FHA, Fannie Mae, and Freddie Mac lending. This segment also operates a tax credit equity syndication platform and manages a registered investment advisor deploying third-party capital into high-quality assets. The Mortgage Warehousing segment provides asset-based financing to mortgage bankers and non-depository financial institutions, funding $66.3 billion in loan principal during 2025. The Banking segment encompasses retail banking, commercial lending, agricultural lending, residential mortgage banking, and SBA lending, with operations primarily in central Indiana and Richmond but expanding nationally through digital channels.
As of December 31, 2025, Merchants Bancorp maintained $19.4 billion in assets, $13.0 billion in deposits, and $2.3 billion in shareholders' equity. The company operates seven depository branches across Indiana locations and maintains a national footprint through its mortgage banking and warehouse lending operations. Merchants Bank of Indiana serves as the company's wholly owned banking subsidiary, operating under an Indiana charter and regulated by the FDIC and Indiana Department of Financial Institutions.
The company's business model emphasizes an originate-to-sell approach for fixed-rate, low-risk loans while retaining adjustable-rate loans for portfolio investment to manage interest rate risk. Funding sources include mortgage custodial deposits, municipal deposits, retail deposits, commercial deposits, and brokered deposits. The company has been recognized as one of the largest government agency servicers and warehouse lenders in the country. Additional information is available at www.bankmerchants.com.
Company details
- Sector
- Financials
- Industry
- Banks & Brokers
- Headquarters
- CARMEL, IN
- Fiscal year end
- December
- CIK
- 1629019
- SIC
- 6022
Financial performance, year by year
Fiscal 2017–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Merchants Bancorp — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Merchants Bancorp’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
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