Merchants Bancorp Ind Stock Price, News & Analysis

MBINO is the Nasdaq trading symbol for depositary shares of Merchants Bancorp’s 6% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock. Each depositary share represents an interest in Merchants Bancorp’s Series B preferred stock, issued by Merchants Bancorp, a diversified bank holding company headquartered in Carmel, Indiana.

Merchants Bancorp operates in the finance and insurance sector and is associated with savings and banking activities. According to company disclosures, Merchants Bancorp conducts its business through multiple segments that focus on banking and mortgage-related services. These activities are carried out through its subsidiaries, including Merchants Bank of Indiana, Merchants Capital Corp., Merchants Capital Investments, LLC, Merchants Capital Servicing, LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a division of Merchants Bank of Indiana.

Business segments related to MBINO

Merchants Bancorp describes three primary segments:

• Multi-family Mortgage Banking – offers multi-family housing and healthcare facility financing and servicing.
• Mortgage Warehousing – offers mortgage warehouse financing.
• Banking – offers retail and correspondent residential mortgage banking, agricultural lending, and traditional community banking.

The Series B preferred stock represented by MBINO is part of Merchants Bancorp’s capital structure alongside its common stock (traded under the symbol MBIN) and other series of preferred stock traded under symbols such as MBINP, MBINN, MBINM, and MBINL, as disclosed in SEC filings.

Redemption and delisting of MBINO

Merchants Bancorp announced that it would redeem all outstanding shares of its Series B preferred stock, traded as MBINO on Nasdaq, at a liquidation preference of $25.00 per share. The company stated that dividends declared on the Series B preferred stock would be paid separately and that, on and after the redemption date, dividends on the Series B preferred stock would cease to accrue. Merchants Bancorp indicated that it would use cash on hand to fund the redemption.

In connection with this redemption, Merchants Bancorp notified Nasdaq of its intention to voluntarily delist the Series B preferred stock and indicated that a Notification of Removal from Listing on Form 25 would be filed with the Securities and Exchange Commission. The company stated that it expected the delisting to become effective on or about the redemption date, after which the Series B preferred stock represented by MBINO would no longer trade on Nasdaq.

Relationship to Merchants Bancorp

Merchants Bancorp is described in company communications as a diversified bank holding company operating multiple lines of business in banking and finance. It has been identified as a top performing U.S. public bank by S&P Global Market Intelligence and operates primarily through Merchants Bank of Indiana and other subsidiaries. The preferred stock represented by MBINO is one component of Merchants Bancorp’s broader funding and capital structure, alongside its common equity and other preferred series.

Investors researching MBINO are effectively examining a specific class of Merchants Bancorp preferred equity that has been subject to redemption and delisting actions as disclosed by the company. Understanding MBINO therefore involves understanding Merchants Bancorp’s overall banking and mortgage-related operations, as well as the company’s use of preferred stock to support its capital needs.