Compared to Estimates, Merchants Bancorp (MBIN) Q4 Earnings: A Look at Key Metrics

For the quarter ended December 2025, Merchants Bancorp (MBIN) reported revenue of $185.29 million, down 4.4% over the same period last year. EPS came in at $1.28, compared to $1.85 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $171.87 million, representing a surprise of +7.81%. The company delivered an EPS surprise of +36.17%, with the consensus EPS estimate being $0.94.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Merchants Bancorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Efficiency Ratio: 45.1% compared to the 45.6% average estimate based on three analysts.
• Net interest margin: 2.9% compared to the 2.8% average estimate based on three analysts.
• Average Earning Assets: $18.93 billion versus the three-analyst average estimate of $18.3 billion.
• Tier I capital/risk-weighted assets Ratio: 13.1% versus 13% estimated by two analysts on average.
• Total capital/risk-weighted assets Ratio: 13.6% versus 13.7% estimated by two analysts on average.
• Net Interest Income: $138.09 million compared to the $129.39 million average estimate based on three analysts.
• Gain on Sale of Loans: $25.73 million versus the three-analyst average estimate of $24.82 million.
• Loan servicing fees (costs), net: $4.24 million versus $6 million estimated by three analysts on average.
• Total Noninterest Income: $47.2 million compared to the $42.49 million average estimate based on three analysts.
• Syndication and asset management fees: $5.68 million compared to the $5.03 million average estimate based on three analysts.
• Other income: $9.76 million versus the three-analyst average estimate of $4.62 million.
• Mortgage warehouse fees: $1.8 million compared to the $2.02 million average estimate based on three analysts.

View all Key Company Metrics for Merchants Bancorp here>>>

Shares of Merchants Bancorp have returned +4.9% over the past month versus the Zacks S&P 500 composite's +0.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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