Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Fri, May 20, 10:37 PM
|This Slide: #60 of 581|
Slide #60. Merchants Bancorp — Preferred Stock Offering
Merchants Bancorp (NASDAQ:MBIN)
Date of Pricing:
Price Per Share:
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 6,000,000 depositary shares each representing a 1/40th ownership interest in a share of its 6.00% Fixed Rate Series C Non-Cumulative Perpetual Preferred Stock, (the "Series C preferred stock"), with a liquidation preference of $25.00 per depositary share.
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.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 84% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com