Merchants Bancorp (MBIN) plans to raise $101 million in an initial public offering on the week of October 23rd, IPO Scoop reports. The company plans to issue 5,600,000 shares at a price of $17.00-$19.00 per share.
In the last 12 months, Merchants Bancorp generated $82 million in revenue and $41 million in net income. The company has a market cap of $487 million.
Sandler O’Neill + Partners, Stephens and Raymond James acted as the underwriters for the IPO and SunTrust Robinson Humphrey was co-manager.
Merchants Bancorp provided the following description of their company for its IPO: “We are a diversified bank holding company headquartered in Carmel, Indiana and registered under the Bank Holding Company Act of 1956, as amended. We currently operate multiple lines of business with a focus on FHA multi-family housing and healthcare facility financing and servicing, mortgage warehouse financing, retail and correspondent residential mortgage banking, agricultural lending and traditional community banking. We were founded in 1990 as a mortgage banking company, providing financing for multi-family housing and senior living properties. “.
Merchants Bancorp was founded in 1990 and has 157 employees. The company is located at 11555 North Meridian Street, Suite 400, Carmel, Indiana 46032, US and can be reached via phone at (317) 569-7420 or on the web at http://www.merchantsbankofindiana.com.
Receive News & Ratings for Merchants Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merchants Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.