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Quotes delayed 20 minutes
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Strong Buy (4.00 out of 4)
90th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Tuesday, July 14, 1:38 AM
Slide #50. Merchants Bancorp — Preferred Stock Offering
| Company: |
Merchants Bancorp (NASDAQ:MBIN) |
| Date announced: |
3/21/2019 |
| Shares Offered: |
2,000,000 |
| Date of Pricing: |
3/21/2019 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
Merchants Bancorp ( "Merchants") (Nasdaq: MBIN), parent company of Merchants Bank of Indiana ("Merchants Bank"), announced the pricing of an underwritten public offering of 2,000,000 shares of its 7.00 % Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock, (the "Series A preferred stock"), with a liquidation preference of $25.00 per share. Merchants has granted the underwriters a 30-day option to purchase 300,000 additional shares of the Series A preferred stock. |
Merchants Bancorp is a bank holding company. Co. operates several lines of business, including multi-family housing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking. Co.'s business segments are defined as multi-family mortgage banking, mortgage warehousing, and banking. Co.'s banking segment includes retail banking, commercial lending, agricultural lending, and retail and correspondent residential mortgage banking, and Small Business Administration lending.
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