Merchants Bancorp Reports Third Quarter 2026 Financial Results

Merchants Bancorp reported third-quarter 2026 net income of $105.2 million, up 92% year over year and 34% from the prior quarter. Diluted earnings per share were $2.06, above the $1.39 FactSet consensus, while revenue of $224.9 million exceeded the $182.9 million estimate. Tangible book value per common share reached a record $41.64 for the 31st consecutive quarter. The company also disclosed that it acquired The Loan Exchange on September 14, 2026, for $13.9 million.