Rogers family files joint 13G/A for Merchants Bancorp (MBIN) ownership stakes

Rhea-AI Filing Summary

Merchants Bancorp Schedule 13G/A reports beneficial ownership stakes held by five Rogers family members who filed jointly under a Joint Filing Agreement. The filing lists individual holdings: Randall D. Rogers 2,740,423 shares (6.0%), Mary H. Rogers 2,740,423 shares (6.0%), Katherine H. Rogers 2,063,470 shares (4.5%), Carey Rogers Kulongoski 2,750,208 shares (6.0%), and Randall D. Rogers, Jr. 3,775,767 shares (8.3%). The filing discloses voting and dispositive power allocations: some holders report sole voting/dispositive power while others report shared power.

Key Figures

Randall D. Rogers holdings: 2,740,423 shares Mary H. Rogers holdings: 2,740,423 shares Katherine H. Rogers holdings: 2,063,470 shares +3 more

6 metrics

Randall D. Rogers holdings 2,740,423 shares Amount beneficially owned reported in Item 4

Mary H. Rogers holdings 2,740,423 shares Amount beneficially owned reported in Item 4

Katherine H. Rogers holdings 2,063,470 shares Amount beneficially owned reported in Item 4

Carey Rogers Kulongoski holdings 2,750,208 shares Amount beneficially owned reported in Item 4

Randall D. Rogers, Jr. holdings 3,775,767 shares Amount beneficially owned reported in Item 4

Largest reported stake 3,775,767 shares Randall D. Rogers, Jr. reported <b>8.3%</b>

Key Terms

Joint Filing Agreement, Beneficially owned, Shared dispositive power, Sole dispositive power

4 terms

Joint Filing Agreement regulatory

"entered into a Joint Filing Agreement pursuant to which they have agreed to file this Amendment jointly"

Beneficially owned financial

"Amount beneficially owned: Randall D. Rogers - 2,740,423"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared dispositive power regulatory

"Shared Dispositive Power 2,740,423.00"

Sole dispositive power regulatory

"Sole Dispositive Power 3,775,767.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/06/2026 - 04:42 PM Learn about SEC filing dates

FAQ

What ownership stakes does MBIN Schedule 13G/A report for the Rogers family?

The filing lists five Rogers family members and their holdings: 2,740,423, 2,740,423, 2,063,470, 2,750,208, and 3,775,767 shares, respectively, with percentages shown alongside each holding.

Do the Rogers family members file jointly for MBIN and why does that matter?

Yes. The Rogers individuals signed a Joint Filing Agreement to file this Amendment jointly under Rule 13d-1(k), which consolidates disclosure of their collective holdings for transparency purposes.

How much voting power do Rogers family members report in the MBIN filing?

Voting power varies: some report sole voting/dispositive power (e.g., Katherine H. Rogers, Carey Rogers Kulongoski, Randall D. Rogers, Jr.), while others report shared voting/dispositive power for 2,740,423 shares.

What percentage of MBIN does each Rogers family member own according to the amendment?

Reported percentages are: 6.0% for Randall D. Rogers, 6.0% for Mary H. Rogers, 4.5% for Katherine H. Rogers, 6.0% for Carey Rogers Kulongoski, and 8.3% for Randall D. Rogers, Jr.

Where is Merchants Bancorp's principal executive office listed in the filing?

The filing gives the principal executive office address as 410 Monon Boulevard, Carmel, IN 46032, provided in Item 1(a) and Item 2(b) of the amendment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 8)

Merchants Bancorp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

58844R108

(CUSIP Number)

02/09/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 58844R108

1

Names of Reporting Persons

Randall D. Rogers

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,740,423.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,740,423.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,740,423.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 58844R108

1

Names of Reporting Persons

Mary H. Rogers

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,740,423.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,740,423.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,740,423.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 58844R108

1

Names of Reporting Persons

Katherine H. Rogers

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,063,470.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,063,470.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,063,470.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 58844R108

1

Names of Reporting Persons

Carey Rogers Kulongoski

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,750,208.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,750,208.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,750,208.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 58844R108

1

Names of Reporting Persons

Randall D. Rogers, Jr.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,775,767.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,775,767.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,775,767.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Merchants Bancorp
(b)	Address of issuer's principal executive offices: 410 Monon Boulevard, Carmel, IN 46032
Item 2.
(a)	Name of person filing: Randall D. Rogers Mary H. Rogers Katherine H. Rogers Carey Rogers Kulongoski Randall D. Rogers, Jr. Randall D. Rogers, Mary H. Rogers, Katherine H. Rogers, Carey Rogers Kulongoski, and Randall D. Rogers, Jr. have entered into a Joint Filing Agreement pursuant to which they have agreed to file this Schedule 13G Amendment jointly in accordance with the provisions of Rule 13d-1(k) of the Act.
(b)	Address or principal business office or, if none, residence: 410 Monon Boulevard, Carmel, IN 46032
(c)	Citizenship: United States
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 4.	Ownership
(a)	Amount beneficially owned: Randall D. Rogers - 2,740,423 Mary H. Rogers - 2,740,423 Katherine H. Rogers - 2,063,470 Carey Rogers Kulongoski - 2,750,208 Randall D. Rogers, Jr. - 3,775,767
(b)	Percent of class: 6.0% 6.0% 4.5% 6.0% 8.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0 0 2,063,470 2,750,208 3,775,767
	(ii) Shared power to vote or to direct the vote: 2,740,423 2,740,423 0 0 0
	(iii) Sole power to dispose or to direct the disposition of: 0 0 2,063,470 2,750,208 3,775,767
	(iv) Shared power to dispose or to direct the disposition of: 2,740,423 2,740,423 0 0 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Randall D. Rogers

Signature:	/s/ Randall D. Rogers
Name/Title:	Randall D. Rogers
Date:	04/06/2026

Mary H. Rogers

Signature:	/s/ Mary H. Rogers
Name/Title:	Mary H. Rogers
Date:	04/06/2026

Katherine H. Rogers

Signature:	/s/ Katherine H. Rogers
Name/Title:	Katherine H. Rogers
Date:	04/06/2026

Carey Rogers Kulongoski

Signature:	/s/ Carey Rogers Kulongoski
Name/Title:	Carey Rogers Kulongoski
Date:	04/06/2026

Randall D. Rogers, Jr.

Signature:	/s/ Randall D. Rogers, Jr.
Name/Title:	Randall D. Rogers, Jr.
Date:	04/06/2026