Merchants Bancorp Declares Quarterly Common and Preferred Dividends

CARMEL, Ind., May 20, 2021 /PRNewswire/ -- Merchants Bancorp ("Merchants") (Nasdaq: MBIN), parent company and registered bank holding company of Merchants Bank of Indiana ("Merchants Bank"), today announced that its Board of Directors declared the following quarterly cash dividends for the second quarter of 2021, in each case to shareholders of record on June 15, 2021, payable on July 1, 2021:

• A dividend of $0.09 per share on the Company's outstanding shares of its common stock (NASDAQ: MBIN);

• A dividend of $0.4375 per share on the Company's outstanding shares of its 7% Series A preferred stock (NASDAQ: MBINP);

• A dividend of $15.00 per share (equivalent to $0.375 per depositary share) on the Company's outstanding shares of its 6% Series B preferred stock (NASDAQ: MBINO);

• An initial dividend of $16.3366 per share (equivalent to $0.4084 per depositary share) on the Company's outstanding shares of its 6% Series C preferred stock (NASDAQ: MBINN) that were issued on March 23, 2021; and

• An initial dividend of $9.1685 per share (equivalent to $0.2292 per depositary share), on the Company's outstanding shares of its 6% Series C preferred stock that were issued in a private placement on May 6, 2021.

ABOUT MERCHANTS BANCORP

Merchants Bancorp is a diversified bank holding company headquartered in Carmel, Indiana operating multiple lines of business, including multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking.  Merchants Bancorp, with $9.7 billion in assets and $8.1 billion in deposits as of March 31, 2021, conducts its business through its direct and indirect subsidiaries, Merchants Bank of Indiana, Merchants Capital Corp., Farmers-Merchants Bank of Illinois, and Merchants Mortgage, a division of Merchants Bank of Indiana. For more information and financial data, please visit Merchants' Investor Relations page at investors.merchantsbancorp.com.

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SOURCE Merchants Bancorp