Merchants Bancorp (MBINP) Stock Analysis
DELISTED 2024
What happened to Merchants Bancorp (MBINP) stock?
Merchants Bancorp (MBINP) no longer trades on public markets. It was delisted in April 2024. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Merchants Bancorp (MBINP) trades at $25.02. Merchants Bancorp is a diversified bank holding company operating in the United States. It focuses on multi-family mortgage banking, mortgage warehousing, and traditional banking services. Market cap: $441M, Sector: Financial services.
Last analyzed: Mar 16, 2026Analyst Coverage for MBINP: MBINP does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates MBINP against Financial Services peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
MBINP: 2/2 scored disciplines lean bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →Merchants Bancorp (MBINP) Financial Services Profile
Merchants Bancorp, a diversified bank holding company, specializes in multi-family mortgage banking, mortgage warehousing, and traditional banking. With a focus on government-sponsored mortgages and customized loan products, the company serves diverse markets, including multi-family, healthcare, and commercial sectors. Its operations are primarily based in the United States.
What Is the Investment Thesis for MBINP?
Merchants Bancorp presents a compelling investment case based on its diversified revenue streams and strategic focus on multi-family mortgage banking. With a P/E ratio of 8.74 and a profit margin of 16.1%, the company demonstrates solid profitability. Key value drivers include its expertise in government-sponsored mortgages and its ability to offer customized loan products. Growth catalysts include expanding its presence in underserved markets and leveraging its syndication of low-income housing tax credit funds. Potential risks include interest rate volatility and regulatory changes impacting the banking sector. The company's beta of 1.19 indicates moderate volatility relative to the market.
Based on FMP financials and quantitative analysis
MBINP Key Highlights
Market capitalization of $441M, reflecting its position as a regional bank.
- P/E ratio of 8.74, suggesting a potentially undervalued stock compared to its earnings.
- Profit margin of 16.1%, indicating efficient operations and profitability.
- Gross margin of 41.2%, showcasing strong revenue generation relative to the cost of goods sold.
- Dividend yield of 0.98%, providing a modest income stream for investors.
Who Are MBINP's Competitors?
MBINP is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AMNB American National Bankshares Inc. | $47.76 | -0.33% | $508M | 56 |
| CSTR CapStar Financial Holdings, Inc. | $20.11 | +0.05% | $419M | 62 |
| EBTC Enterprise Bancorp, Inc., through its subsidiary Enterprise Bank and Trust Company, provides a range of commercial banking products and services. Founded in 1989 and headquartered in Lowell, Massachusetts, the company | $39.64 | -0.75% | $496M | 50 |
| FRC First Republic Bank | $3.51 | +0.00% | $654M | 52 |
| GHI Greystone Housing Impact Investors LP | $6.47 | -4.15% | $152M | 43 |
| FMAO Farmers & Merchants Bancorp, Inc. | $33.47 | -0.09% | $461M | 92 |
| PKBK Parke Bancorp, Inc. | $34.15 | +0.83% | $404M | 92 |
| PDLB Ponce Financial Group, Inc. | $20.31 | +0.94% | $491M | 92 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are MBINP's Key Strengths?
Diversified revenue streams across multiple banking segments.
- Expertise in government-sponsored mortgages.
- Strong relationships with multi-family housing and healthcare facility operators.
- Established presence in its core markets.
What Are MBINP's Weaknesses?
Exposure to interest rate risk.
- Dependence on the housing market.
- Limited geographic diversification.
- Smaller size compared to larger national banks.
What Could Drive MBINP Stock Higher?
Expansion of multi-family mortgage banking segment driven by demographic trends.
- Strategic partnerships with healthcare providers to expand financing solutions.
- Investments in digital banking technologies to enhance customer experience.
- Leveraging low-income housing tax credit syndication to support community development.
What Are the Key Risks for MBINP?
Financial-distress signal — its Altman Z-Score of 0.94 sits in the distress zone (elevated bankruptcy risk).
- Weak fundamentals — a Piotroski F-Score of 3/9 flags soft profitability, leverage or efficiency.
- Interest rate volatility impacting loan profitability.
- Regulatory changes affecting the banking sector.
- Economic downturns affecting the housing market.
- Cybersecurity risks and data breaches.
- Competition from larger banks and fintech companies.
What Are the Growth Opportunities for MBINP?
- Expansion of Multi-Family Mortgage Banking: Merchants Bancorp can capitalize on the growing demand for multi-family housing and healthcare facilities by expanding its multi-family mortgage banking segment. The market for multi-family housing is projected to grow steadily, driven by demographic shifts and urbanization. By offering customized loan products and leveraging its expertise in government-sponsored mortgages, Merchants Bancorp can increase its market share and revenue in this segment. Timeline: Ongoing.
- Strategic Partnerships with Healthcare Providers: Forming strategic partnerships with healthcare providers can provide Merchants Bancorp with access to new markets and customers. The healthcare industry is experiencing significant growth, driven by an aging population and increasing healthcare spending. By offering specialized financing solutions for healthcare facilities, Merchants Bancorp can establish a strong foothold in this sector. Timeline: Ongoing.
- Increased Focus on Digital Banking: Investing in digital banking technologies can enhance customer experience, improve operational efficiency, and attract new customers. The adoption of digital banking is increasing rapidly, driven by changing consumer preferences and technological advancements. By offering mobile banking, online account management, and other digital services, Merchants Bancorp can remain competitive in the evolving banking landscape. Timeline: Ongoing.
- Leveraging Low-Income Housing Tax Credit Syndication: Merchants Bancorp can further expand its syndication of low-income housing tax credit and debt funds. This allows them to support community development and affordable housing projects, while also generating revenue through fees and tax benefits. The demand for affordable housing continues to grow, creating opportunities for Merchants Bancorp to expand its role as a syndicator. Timeline: Ongoing.
- Geographic Expansion into Underserved Markets: Expanding its geographic footprint into underserved markets can provide Merchants Bancorp with access to new customers and growth opportunities. Many rural and underserved communities lack access to traditional banking services. By establishing branches or offering online banking services in these areas, Merchants Bancorp can tap into a new customer base and drive revenue growth. Timeline: Ongoing.
What Are MBINP's Competitive Advantages?
- Expertise in government-sponsored mortgages.
- Strong relationships with multi-family housing and healthcare facility operators.
- Diversified revenue streams across multiple banking segments.
- Established presence in its core markets.
What Does MBINP Do?
Merchants Bancorp, established in 1990 and headquartered in Carmel, Indiana, operates as a diversified bank holding company within the United States. The company's operations are divided into three primary segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment is involved in originating and servicing government-sponsored mortgages specifically for multi-family and healthcare facilities. This includes offering customized loan products tailored for independent living, assisted living, memory care, and skilled nursing projects. Furthermore, this segment acts as a syndicator of low-income housing tax credit and debt funds, contributing to community development initiatives. The Mortgage Warehousing segment focuses on funding agency-eligible residential loans, managing the origination, purchase, and sale of these loans in the secondary market. It also extends commercial loans to non-depository financial institutions, facilitating their operations. The Banking segment provides a comprehensive suite of financial products and services to both consumers and businesses. These include various types of deposit products, multi-family construction and bridge loans, commercial real estate financing, commercial and industrial loans, agricultural loans, residential mortgages, and consumer loan products. Additionally, this segment offers single-family mortgage lending, construction, bridge, and lot financing, first-lien home equity lines of credit, and small business administration lending products and services, catering to a wide range of financial needs.
What Products and Services Does MBINP Offer?
- Originates and services government-sponsored mortgages for multi-family and healthcare facilities.
- Offers customized loan products for independent living, assisted living, memory care, and skilled nursing projects.
- Operates as a syndicator of low-income housing tax credit and debt funds.
- Funds agency-eligible residential loans, including origination, purchase, and sale in the secondary market.
- Provides commercial loans to non-depository financial institutions.
- Offers a range of financial products and services to consumers and businesses.
- Provides single-family mortgage lending, construction, bridge, and lot financing.
- Offers first-lien home equity lines of credit and small business administration lending products and services.
How Does MBINP Make Money?
- Generates revenue through interest income from loans.
- Earns fees from mortgage servicing and loan origination.
- Profits from the sale of loans in the secondary market.
- Generates revenue from deposit products and other banking services.
What Industry Does MBINP Operate In?
Merchants Bancorp operates within the regional banking sector, which is characterized by increasing competition and evolving regulatory landscapes. The industry is experiencing a shift towards digital banking and a greater emphasis on customer experience. The market is influenced by macroeconomic factors such as interest rates, inflation, and economic growth. Competitors include other regional banks and credit unions. Merchants Bancorp's focus on multi-family mortgage banking differentiates it within this competitive environment, allowing it to capitalize on the demand for affordable housing and healthcare facilities.
Who Are MBINP's Key Customers?
- Multi-family housing developers and operators.
- Healthcare facility owners and operators.
- Consumers seeking residential mortgages and other loan products.
- Businesses seeking commercial loans and banking services.
Company Profile
Merchants Bancorp operates in the Banks - Regional industry within the Financial Services sector. It is headquartered in Carmel, US. The company is led by CEO Michael F. Petrie CMB. MBINP has traded publicly since 2019.
Financial Health
Merchants Bancorp's Piotroski F-Score is 3/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny. Its Altman Z-Score of 0.94 places it in the distress zone, a signal of elevated financial risk.
Key Financial Metrics
Return on equity for Merchants Bancorp stands at 10.1%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 1.1%, showing how much profit it generates from its asset base. MBINP trades at a trailing price-to-earnings ratio of 10.08, below the Financial Services sector average of ~18x. Its free cash flow yield is -47.5%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.02 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 9.9%, the inverse of the P/E and a quick read on earnings relative to price.
MBINP Valuation & Market Position
With a $441M market cap, Merchants Bancorp sits in the small-cap segment of the market.
MBINP Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in Merchants Bancorp's growth potential, indicating that executives believe in the company's future.
- Community sentiment has shifted positively, with discussions highlighting the bank's robust loan portfolio and strong customer relationships.
- Analysts are noting the bank's strategic expansion efforts, which could lead to increased market share and profitability.
- Positive news coverage around the banking sector's recovery has positioned Merchants Bancorp favorably among investors.
Bear Case
- Concerns over rising interest rates have led to skepticism about the bank's profitability in the near term, as higher rates could affect loan demand.
- Social sentiment reflects worries about potential regulatory changes that could impact profitability and operational flexibility.
- Some community members express caution about the overall economic climate, fearing that a downturn could affect the bank's performance.
- Recent reports of increased competition in the regional banking sector have raised doubts about Merchants Bancorp's ability to maintain its market position.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
MBINP Latest News
No recent news available for MBINP.
Leadership: Michael F. Petrie CMB
CEO
Michael F. Petrie is the CEO of Merchants Bancorp, bringing extensive experience in the financial services industry. His background includes a strong focus on mortgage banking and real estate finance. Petrie holds the Certified Mortgage Banker (CMB) designation, demonstrating his expertise in the field. His leadership is focused on strategic growth, operational efficiency, and maintaining a strong risk management framework. He is responsible for overseeing the company's overall performance and ensuring its long-term success.
Track Record: Under Michael Petrie's leadership, Merchants Bancorp has expanded its multi-family mortgage banking segment and increased its focus on government-sponsored mortgages. He has overseen the company's strategic investments in technology and digital banking initiatives. His tenure has been marked by consistent profitability and growth in key financial metrics. He has also focused on building strong relationships with customers and partners.
MBINP Financial Services Stock FAQ
What happened to Merchants Bancorp (MBINP) stock?
Merchants Bancorp (MBINP) no longer trades on public markets. It was delisted in April 2024. The figures below are historical and are not a current quote.
Can I still buy MBINP shares?
No. MBINP stopped trading on public markets in April 2024, so the shares are not available through a broker. Anything you see quoted for MBINP elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before MBINP stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Merchants Bancorp. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Merchants Bancorp do?
Merchants Bancorp operates as a diversified bank holding company, primarily focusing on multi-family mortgage banking, mortgage warehousing, and traditional banking services. The company originates and services government-sponsored mortgages for multi-family and healthcare facilities, offering customized loan products for various types of projects.
What are the main risks for MBINP?
Merchants Bancorp faces several risks, including interest rate volatility, which can impact loan profitability. Regulatory changes in the banking sector and economic downturns affecting the housing market also pose potential challenges. Cybersecurity risks and data breaches are ongoing concerns for all financial institutions. Additionally, the company faces competition from larger banks and fintech companies, requiring continuous innovation and adaptation to maintain its market position.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on the most recent available information.
- AI analysis is pending for MBINP.