CARMEL,
Ind., Sept. 11, 2024 /PRNewswire/
-- Merchants Bancorp (the "Company")(NASDAQ: MBIN) and its
wholly owned subsidiary, Merchants Bank, have announced the
appointment of Sean Sievers as its
new Chief Financial Officer, effective Sept.
9, 2024. Sievers brings more than 25 years of executive
financial leadership in the banking and mortgage industries to the
top-performing banks' chief finance role.
Most recently, Sievers served as CFO at Rate (formerly
Guaranteed Rate), one of the leading mortgage bankers in the
nation. His career includes leadership roles as CFO of
Countrywide's Internet Bank and Retail Origination team, Senior
Director at Freddie Mac, CFO of SunTrust's Consumer Banking
Division, and CFO of Citibank's Global Mortgage Business.
"Each of these experiences has equipped Sean with the skills and
insights necessary to support our unique business model and future
growth plans," said Michael Dunlap, President and CEO of
Merchants Bank. "Sean brings a wealth of experience that will be
invaluable as we continue to grow and execute our strategic
vision."
Sievers was selected as part of a comprehensive CFO search
initiated after John Macke, the
Company's current CFO, announced his intent to retire in March.
Macke joined Merchants in 2017 during a critical period for the
Company. He was instrumental in leading the Company's initial
public offering (IPO) and played a key role in supporting its
growth from a $3 billion bank to an
$18 billion institution today.
Sievers and Macke will share responsibilities until Mr. Macke's
official retirement at the end of September.
"As we welcome Sean, I also want to take this opportunity to
celebrate and thank John for his outstanding contributions,"
Dunlap said. "John's expertise has
been instrumental in capital raises, securitizations, liquidity
strategies, financial reporting, and the development of new lines
of business in an ever-changing and highly regulated environment.
His leadership has left a lasting impact on Merchants."
Sievers holds a Bachelor of Science in Accounting from
California Lutheran University and is a
former licensed public accountant. He will be based at Merchants
Bank's headquarters in Carmel,
Indiana.
ABOUT MERCHANTS BANCORP
Ranked as a top performing
U.S. public bank by S&P Global Market Intelligence, Merchants
Bancorp is a diversified bank holding company headquartered in
Carmel, Indiana operating multiple
segments, including Multi-family Mortgage Banking that offers
multi-family housing and healthcare facility financing and
servicing; Mortgage Warehousing that offers mortgage warehouse
financing; and Banking that offers retail and correspondent
residential mortgage banking, agricultural lending, and traditional
community banking. Merchants Bancorp, with $18.2 billion in assets and $14.9 billion in deposits as of June 30, 2024, conducts its business primarily
through its direct and indirect subsidiaries, Merchants Bank of
Indiana, Merchants Capital Corp.,
Merchants Capital Investments, LLC, Merchants Capital Servicing,
LLC, Merchants Asset Management, LLC, and Merchants Mortgage, a
division of Merchants Bank of Indiana. For more information and financial
data, please visit Merchants' Investor Relations page at
investors.merchantsbancorp.com.
FORWARD-LOOKING STATEMENTS
This press release
contains forward-looking statements which reflect management's
current views with respect to, among other things, future events
and financial performance. These statements are often, but not
always, made through the use of words or phrases such as "may,"
"might," "should," "could," "predict," "potential," "believe,"
"expect," "continue," "will," "anticipate," "seek," "estimate,"
"intend," "plan," "projection," "goal," "target," "outlook," "aim,"
"would," "annualized" and "outlook," or the negative version of
those words or other comparable words or phrases of a future or
forward-looking nature. These forward-looking statements are not
historical facts, and are based on current expectations, estimates
and projections about the industry, management's beliefs and
certain assumptions made by management, many of which, by their
nature, are inherently uncertain and beyond our control.
Accordingly, management cautions that any such forward-looking
statements are not guarantees of future performance and are subject
to risks, assumptions, estimates and uncertainties that are
difficult to predict. Although the Company believes that the
expectations reflected in these forward-looking statements are
reasonable as of the date made, actual results may prove to be
materially different from the results expressed or implied by the
forward-looking statements. A number of important factors
could cause actual results to differ materially from those
indicated in these forward-looking statements, including the
impacts of factors identified in "Risk Factors" or "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" in the Company's Annual Report on Form 10-K and other
periodic filings with the Securities and Exchange Commission.
Any forward-looking statements presented herein are made only as of
the date of this press release, and the Company does not undertake
any obligation to update or revise any forward-looking statements
to reflect changes in assumptions, the occurrence of unanticipated
events, or otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/merchants-bancorp-appoints-sean-sievers-as-chief-financial-officer-302245536.html
SOURCE Merchants Bancorp
