Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Fri, April 19, 2:16 AM
This Slide: #166 of 620 |
Slide #166. 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. Through its subsidiaries, Co. operates in and services multiple lines of business, including agricultural lending, Small Business Administration (SBA) lending, and community banking. Co.'s business segments are defined as multi-family mortgage banking, which originates Federal Housing Authority loans that are sold as Government National Mortgage Association mortgage backed securities; mortgage warehousing, which provides asset-based financing in the form of warehouse facilities; and banking, which includes retail banking, commercial lending, agricultural lending, retail and correspondent residential mortgage banking, and SBA lending.
Preferreds: MBINP, MBINO, MBINN, MBINM
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Strong Buy (4.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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