53.41
+3.19%
Close of 9 Nov 2026, in USD
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About Merchants Bancorp
From its filings with the US Securities and Exchange Commission
Merchants Bancorp is based in Carmel, Indiana and is incorporated in Indiana. Its shares trade on Nasdaq under the ticker MBIN. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported net income of $218.8m. At that date it held total assets of $19.45bn and shareholders' equity of $2.28bn.
Merchants Bancorp (the “Company,” “Merchants,” “we,” “our,” or “us”), an Indiana corporation formed in 2006, is a diversified bank holding company headquartered in Carmel, Indiana and registered under the Bank Holding Company Act of 1956, as amended. We currently operate in multiple business segments, including Multi-family Mortgage Banking that offers multi-family housing and healthcare facility financing and servicing (through this segment we also serve as a syndicator of low-income housing tax credit and debt funds); Mortgage Warehousing that offers mortgage warehouse financing, commercial loans, and deposit services; and Banking that offers portfolio lending for multi-family and healthcare facility loans, retail and correspondent residential mortgage banking, agricultural lending, SBA lending, and traditional community banking. As of December 31, 2025, we had $19.4 billion in assets, $13.0 billion of deposits and $2.3 billion of shareholders’ equity.
We were founded in 1990 as a mortgage banking company, providing financing for multi-family housing and senior living properties. The shared vision of our founders, Michael Petrie and Randall Rogers, was to create a diversified financial services company, which efficiently operates both nationally through mortgage banking and related services, and locally through a community bank. We have primarily grown organically and strategically built our business model in a way that we believe offers insulation from cyclical economic and credit swings and provides synergies across our lines of business.
Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Thrifts & Mortgage Finance
- Listed since
- 26 Oct 2017
- Employees
- 735
- Head office
- 410 MONON BLVD, CARMEL, IN, 46032
- Incorporated in
- IN
- Classification
- State Commercial Banks
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Michael PetrieChairman of the Board, Chief Executive Officer; Chairman of Merchants Bank, since 1990$2.9m
- Mr. Michael DunlapPresident, Chief Operating Officer, Director; Chief Executive Officer of Merchants Bank, since 2014$2.6m
- Mr. Randall RogersVice Chairman of the Board, since 2006
- Mr. Sean SieversChief Financial Officer, Executive Vice President$887,621
- Mr. Scott EvansDirector; President of the Lynn/Richmond Market, Chief Operating Officer of Merchants Bank, since 2006
- Mr. Michael DuryPresident and Chief Executive Officer of Merchants Capital$6.4m
- Mr. Jerry KoorsPresident - Merchants Mortgage
- Mr. Martin SchroeterPresident - Warehouse Lending$1.3m
- Mr. Kevin LangfordExecutive Vice President, Chief Administrative Officer
- Mr. Terry OznickExecutive Vice President, General Counsel
- Mr. Andrew JusterLead Independent Director$172,579
- Mr. Thomas DinwiddieDirector, since 2022$140,079
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 33
- Environment
- 37
- Social
- 33
- Governance
- 30
- Carbon reduction policy
- No
- Human rights policy
- No
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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