Merchants Bancorp Management

Management criteria checks 2/4

Merchants Bancorp's CEO is Mike Petrie, appointed in Oct 2006, has a tenure of 18.08 years. total yearly compensation is $2.84M, comprised of 31.7% salary and 68.3% bonuses, including company stock and options. directly owns 29.78% of the company’s shares, worth €520.20M. The average tenure of the management team and the board of directors is 5 years and 10.5 years respectively.

Key information

Mike Petrie

Chief executive officer

US$2.8m

Total compensation

CEO salary percentage	31.7%
CEO tenure	18.1yrs
CEO ownership	29.8%
Management average tenure	5yrs
Board average tenure	10.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mike Petrie's remuneration changed compared to Merchants Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$268m
Jun 30 2024	n/a	n/a	US$287m
Mar 31 2024	n/a	n/a	US$277m
Dec 31 2023	US$3m	US$900k	US$245m
Sep 30 2023	n/a	n/a	US$224m
Jun 30 2023	n/a	n/a	US$204m
Mar 31 2023	n/a	n/a	US$196m
Dec 31 2022	US$2m	US$850k	US$194m
Sep 30 2022	n/a	n/a	US$195m
Jun 30 2022	n/a	n/a	US$195m
Mar 31 2022	n/a	n/a	US$192m
Dec 31 2021	US$2m	US$800k	US$206m
Sep 30 2021	n/a	n/a	US$213m
Jun 30 2021	n/a	n/a	US$212m
Mar 31 2021	n/a	n/a	US$203m
Dec 31 2020	US$2m	US$750k	US$166m
Sep 30 2020	n/a	n/a	US$136m
Jun 30 2020	n/a	n/a	US$102m
Mar 31 2020	n/a	n/a	US$79m
Dec 31 2019	US$717k	US$700k	US$68m
Sep 30 2019	n/a	n/a	US$56m
Jun 30 2019	n/a	n/a	US$55m
Mar 31 2019	n/a	n/a	US$55m
Dec 31 2018	US$648k	US$630k	US$60m
Sep 30 2018	n/a	n/a	US$64m
Jun 30 2018	n/a	n/a	US$58m
Mar 31 2018	n/a	n/a	US$57m
Dec 31 2017	US$619k	US$600k	US$51m

Compensation vs Market: Mike's total compensation ($USD2.84M) is above average for companies of similar size in the German market ($USD1.61M).

Compensation vs Earnings: Mike's compensation has increased by more than 20% in the past year.

CEO

Mike Petrie (70 yo)

18.1yrs

Tenure

US$2,839,538

Compensation

Mr. Michael F. Petrie, also known as Mike, CMB, has been Chairman of Merchants Bank of Indiana since March 2002 and serves as its Director. He Co-Founded Merchants Bancorp. He served as the Chief Executive...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Michael Petrie	Co-founder	18.1yrs	US$2.84m	29.78% € 520.2m
Michael Dunlap	President	6.8yrs	US$2.51m	0.27% € 4.8m
Martin Schroeter	President of Warehouse Lending	5yrs	US$1.21m	0.028% € 487.4k
Michael Dury	President & CEO of Merchants Capital Corp	6.8yrs	US$6.51m	0.21% € 3.6m
Sean Sievers	Chief Financial Officer & Principal Accounting Officer	less than a year	no data	0.0075% € 131.6k
Vickie Vandivier	Executive VP & Investment Officer	no data	no data	no data
Kevin Langford	Executive VP & Chief Administrative Officer	no data	no data	0.041% € 708.8k
Tami Durle	Manager SEC Reporting	no data	no data	no data
Terry Oznick	Executive VP & General Counsel	no data	no data	0.032% € 553.0k
Jeffery Scott	President & Executive VP of SBA Lending	4.9yrs	no data	no data
Robert Burtner	Executive VP & Chief Credit Officer	no data	no data	no data
Cheryl Likens	Executive VP & Chief Risk Officer	3.8yrs	no data	no data

5.0yrs

Average Tenure

57yo

Average Age

Experienced Management: 3KD's management team is seasoned and experienced (5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Petrie	Co-founder	18.1yrs	US$2.84m	29.78% € 520.2m
Michael Dunlap	President	10.5yrs	US$2.51m	0.27% € 4.8m
David Shane	Independent Director	11yrs	US$115.09k	0.045% € 788.5k
Andrew Juster	Independent Lead Director	5.5yrs	US$115.09k	0.050% € 875.0k
Sue Gilroy	Independent Director	7.4yrs	US$100.09k	0.024% € 412.7k
Scott Evans	Director	18.8yrs	no data	0.077% € 1.3m
Randall Rogers	Vice Chairman	18.1yrs	no data	7.04% € 123.0m
Thomas Dinwiddie	Director	2.5yrs	US$100.09k	0.043% € 745.0k
Patrick O'Brien	Independent Director	11yrs	US$110.09k	0.25% € 4.4m
Anne Sellers	Independent Director	7.4yrs	US$107.59k	0.021% € 359.0k
Tamika Catchings	Independent Director	2.5yrs	US$100.09k	0.0099% € 172.3k

10.5yrs

Average Tenure

70yo

Average Age

Experienced Board: 3KD's board of directors are seasoned and experienced ( 10.5 years average tenure).

Merchants Bancorp Management

Management criteria checks 2/4

Key information

Recent management updates

Merchants Bancorp Appoints Sean Sievers as Principal Accounting Officer

Co-founder recently sold €895k worth of stock

Insider recently bought €249k worth of stock

Merchants Bancorp, Annual General Meeting, May 16, 2024

John F. Macke to Retire as Chief Financial Officer of Merchants Bancorp, on or Before September 30, 2024

Vice Chairman recently sold €7.1m worth of stock

Recent updates

Investor sentiment deteriorates as stock falls 17%

Third quarter 2024 earnings released: EPS: US$1.17 (vs US$1.69 in 3Q 2023)

Merchants Bancorp to Report Q3, 2024 Results on Oct 28, 2024

Merchants Bancorp Appoints Sean Sievers as Principal Accounting Officer

Upcoming dividend of US$0.09 per share

Co-founder recently sold €895k worth of stock

Second quarter dividend of US$0.09 announced

Merchants Bancorp Declares Quarterly Cash Dividends for the Third Quarter of 2024, Payable on October 1, 2024

Investor sentiment deteriorates as stock falls 22%

Insider recently bought €249k worth of stock

New major risk - Revenue and earnings growth

Second quarter 2024 earnings released: EPS: US$1.71 (vs US$1.31 in 2Q 2023)

Merchants Bancorp to Report Q2, 2024 Results on Jul 29, 2024

Merchants Bancorp(NasdaqCM:MBIN) dropped from Russell 3000E Value Index

Upcoming dividend of US$0.09 per share

First quarter dividend of US$0.09 announced

Merchants Bancorp Declares Quarterly Common for the Second Quarter of 2024, Payable on July 1, 2024

Merchants Bancorp Declares Quarterly Common for the Second Quarter of 2024, payable on July 1, 202

Merchants Bancorp has completed a Follow-on Equity Offering in the amount of $103.2 million.

Merchants Bancorp has filed a Follow-on Equity Offering.

Investor sentiment improves as stock rises 16%

First quarter 2024 earnings released: EPS: US$1.81 (vs US$1.07 in 1Q 2023)

Merchants Bancorp, Annual General Meeting, May 16, 2024

Full year 2023 earnings released: EPS: US$5.66 (vs US$4.49 in FY 2022)

John F. Macke to Retire as Chief Financial Officer of Merchants Bancorp, on or Before September 30, 2024

Upcoming dividend of US$0.09 per share

Fourth quarter dividend of US$0.09 announced

Merchants Bancorp Increases Quarterly Common Dividend, Payable on April 1, 2024

Full year 2023 earnings released: EPS: US$5.66 (vs US$4.49 in FY 2022)

Upcoming dividend of US$0.08 per share at 0.9% yield

Merchants Bancorp Declares Quarterly Common Dividends for the Fourth Quarter of 2023, Payable on January 2, 2024

Vice Chairman recently sold €7.1m worth of stock

Vice Chairman recently sold €4.1m worth of stock

New major risk - Revenue and earnings growth

Investor sentiment improves as stock rises 16%

Third quarter 2023 earnings released: EPS: US$1.69 (vs US$1.22 in 3Q 2022)

New major risk - Revenue and earnings growth

Upcoming dividend of US$0.08 per share at 1.1% yield

Merchants Bancorp Declares Quarterly Common Dividend, Payable on October 2, 2023

Co-founder recently sold €341k worth of stock

Merchants Bancorp Reports Charge-Offs Results for the Second Quarter Ended June 30, 2023

Second quarter 2023 earnings released: EPS: US$1.31 (vs US$1.12 in 2Q 2022)

Investor sentiment improves as stock rises 18%

Upcoming dividend of US$0.08 per share at 1.2% yield

Merchants Bancorp Declares Quarterly Common Dividend, Payable on July 3, 2023

President recently bought €50k worth of stock

Full year 2022 earnings released: EPS: US$4.49 (vs US$4.78 in FY 2021)

Investor sentiment deteriorates as stock falls 17%

Upcoming dividend of US$0.08 per share at 1.1% yield

Merchants Bancorp Increases Quarterly Common Dividend, Payable on April 3, 2023

Investor sentiment improves as stock rises 17%

Full year 2022 earnings released: EPS: US$4.49 (vs US$4.78 in FY 2021)

President of Merchants Capital Corp recently bought €220k worth of stock

Upcoming dividend of US$0.07 per share

Merchants Bancorp Declares Quarterly Dividends on Common Stock, Payable on January 3, 2023

Third quarter 2022 earnings released: EPS: US$1.22 (vs US$1.22 in 3Q 2021)

Merchants Bancorp(NasdaqCM:MBIN.M) dropped from NASDAQ Composite Index

Upcoming dividend of US$0.07 per share

Merchants Bancorp Declares Quarterly Cash Dividend, Payable on October 3, 2022

Vice Chairman recently sold €274k worth of stock

Second quarter 2022 earnings released: EPS: US$1.12 (vs US$1.06 in 2Q 2021)

Upcoming dividend of US$0.07 per share

President of Merchants Capital Corp recently bought €101k worth of stock

Merchants Bancorp Announces Quarterly Cash Dividend, Payable on July 1, 2022

First quarter 2022 earnings released: EPS: US$1.03 (vs US$1.35 in 1Q 2021)

Insufficient new directors

Upcoming dividend of US$0.07 per share

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Merchants Bancorp Increases Quarterly Common Dividend for the First Quarter of 2022, Payable on April 1, 2022