Quick Takeaways
- MBIN - Merchants Bancorp has 20 insiders with reported activity on this page.
- Net insider value flow over the last year: -$1,486,250.
- Recent transaction rows are available for direct filing-level review.
Insider Transactions Reported by 20 Insiders of Merchants Bancorp
- Symbol
- MBIN, MBINL, MBINM, MBINN on Nasdaq
- Location
- Carmel, IN
What Changed
- Buy value: $1,345,961; sell value: $2,832,211.
- Net share flow: -73,884.
Why This Matters
- This page gives a plain-language issuer insider context before you inspect transaction-level evidence.
- Use the filing links below to verify timestamps, codes, and ownership impacts directly from SEC forms.
Source Evidence
Filed on Form 4
See Original Filing
Issuer insider activity is sourced from SEC Forms 3, 4, and 5.
Insider trading overview
Last 12 monthsNet insider flow leans to selling over the last 12 months. Net value: -$1,486,250.
Buys
$1,345,961
Shares: 43,658
Insiders: 3
Sells
$2,832,211
Shares: 117,542
Insiders: 2
Net
-$1,486,250
Shares: -73,884
Insiders: 1
| Window (months) | Buy shares | Sell shares | Buy $ | Sell $ | Net $ |
|---|---|---|---|---|---|
| 0-3 | 0 | 75,314 | $0 | $2,022,016 | -$2,022,016 |
| 3-6 | 0 | 42,228 | $0 | $810,195 | -$810,195 |
| 6-9 | 21,853 | 0 | $664,658 | $0 | +$664,658 |
| 9-12 | 21,805 | 0 | $681,304 | $0 | +$681,304 |
Merchants Bancorp executives and other stock owners filed with the SEC include:
| Name | Relationship | Holdings Value | Past Year Net Change | Change % | Valuation | Report Date |
|---|---|---|---|---|---|---|
| Michael F. Petrie | Chairman and CEO, Director, 10%+ Owner | $451,719,845 | -$2,578,881 | -0.57% | Mixed | 25 Feb 2026 |
| Randall D. Rogers | Vice Chairman, Director | $130,140,560 | Mixed | 23 Aug 2024 | ||
| Patrick D. O'Brien | Director | $9,071,705 | Mixed | 19 Feb 2026 | ||
| Michael J. Dunlap | President, COO, Director | $8,797,646 | Mixed | 01 Feb 2026 | ||
| Michael R. Dury | CEO of Merchants Capital | $6,695,992 | +$995,356 | +17% | Mixed | 01 Feb 2026 |
| Jerry F. Koors | Merchants Mortgage President | $2,490,729 | Mixed | 01 Feb 2026 | ||
| John F. Macke | Chief Financial Officer | $2,459,017 | Mixed | 01 Feb 2024 | ||
| Susan Dehner Kucer | Indianpolis Market President | $2,129,105 | Mixed | 01 Apr 2024 | ||
| Andrew Juster | Director | $1,563,191 | Mixed | 19 Feb 2026 | ||
| Langford Kevin T. | Chief Administrative Officer | $1,537,461 | Mixed | 01 Feb 2026 | ||
| Terry A. Oznick | SVP, General Counsel | $1,300,766 | Mixed | 01 Feb 2026 | ||
| David N. Shane | Director | $1,179,349 | Mixed | 19 Feb 2026 | ||
| Scott A. Evans | Lynn Market President, Director | $1,142,471 | Mixed | 01 Feb 2026 | ||
| Thomas Dinwiddie | Director | $1,039,783 | Mixed | 19 Feb 2026 | ||
| Anne E. Sellers | Director | $789,433 | Mixed | 19 Feb 2026 | ||
| Sean A. Sievers | Chief Financial Officer | $671,136 | +$148,985 | +29% | Mixed | 01 Feb 2026 |
| Sue Anne Gilroy | Director | $635,621 | Mixed | 19 Feb 2026 | ||
| Martin A. Schroeter | President-Warehouse Lending | $501,178 | -$253,330 | -34% | Filing P/S | 10 Feb 2026 |
| Tamika Catchings | Director | $345,533 | Mixed | 19 Feb 2026 | ||
| Darin L. Thomas | Chief Accounting Officer | $99,627 | +$99,628 | +100% | Filing P/S | 22 Aug 2025 |
Top shareholders of Merchants Bancorp (13F + 13D/G + 3/4/5)
Grouped by holder across the latest SEC ownership disclosures. Ownership % is shown only when it is directly reported or safely comparable across share classes.
Methodology: rows are grouped by holder and ranked by the holder's primary source value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.
| Holder | Source | Role / Reporting | Ownership % | Shares | Holdings Value | 12M Net Δ | As of | Details |
|---|---|---|---|---|---|---|---|---|
| Michael F. Petrie |
13D/G
3/4/5
|
Chairman and CEO, Director, 10%+ Owner |
27%
|
12,575,375
|
$531,435,348 | -$3,180,741 | 26 Feb 2026 | |
| BlackRock, Inc. |
13D/G
13F
|
Company |
8.8%
|
4,033,647
|
$173,083,793 | $0 | 31 Mar 2026 | |
| Randall D. Rogers |
13D/G
3/4/5
|
Randall D. Rogers, Jr. · Vice Chairman, Director |
8.3%
|
3,775,767
|
$159,563,913 | $0 | 09 Feb 2026 | |
| DIMENSIONAL FUND ADVISORS LP |
13F
|
Company |
3.6%
|
1,656,898
|
$56,432,591 | — | 31 Dec 2025 | |
| VANGUARD GROUP INC |
13F
|
Company |
3.1%
|
1,414,584
|
$48,180,732 | — | 31 Dec 2025 | |
| Doma Perpetual Capital Management LLC |
13F
|
Company |
2.4%
|
1,115,594
|
$37,997,132 | — | 31 Dec 2025 | |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. |
13F
|
Company |
2.4%
|
1,110,383
|
$37,820,000 | — | 31 Dec 2025 | |
| ROYCE & ASSOCIATES LP |
13F
|
Company |
1.8%
|
808,314
|
$27,531,175 | — | 31 Dec 2025 | |
| GEODE CAPITAL MANAGEMENT, LLC |
13F
|
Company |
1.6%
|
715,394
|
$24,370,856 | — | 31 Dec 2025 | |
| AMERICAN CENTURY COMPANIES INC |
13F
|
Company |
1.5%
|
675,517
|
$23,008,109 | — | 31 Dec 2025 | |
| STATE STREET CORP |
13F
|
Company |
1.3%
|
574,086
|
$19,608,655 | — | 31 Dec 2025 | |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC |
13F
|
Company |
0.85%
|
391,068
|
$13,319,776 | — | 31 Dec 2025 | |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. |
13F
|
Company |
0.6%
|
273,747
|
$9,323,823 | — | 31 Dec 2025 | |
| Patrick D. O'Brien |
3/4/5
|
Director |
—
mixed-class rows
|
323,040
mixed-class rows
|
$9,071,705 | — | 19 Feb 2026 | |
| Michael J. Dunlap |
3/4/5
|
President, COO, Director |
0.46%
|
212,196
|
$8,797,646 | — | 01 Feb 2026 | |
| NORTHERN TRUST CORP |
13F
|
Company |
0.56%
|
256,199
|
$8,726,138 | — | 31 Dec 2025 | |
| MORGAN STANLEY |
13F
|
Company |
0.56%
|
254,779
|
$8,677,856 | — | 31 Dec 2025 | |
| BANC FUNDS CO LLC |
13F
|
Company |
0.53%
|
244,462
|
$8,326,376 | — | 31 Dec 2025 | |
| Valeo Financial Advisors, LLC |
13F
|
Company |
0.53%
|
244,108
|
$8,314,303 | — | 31 Dec 2025 | |
| DENALI ADVISORS LLC |
13F
|
Company |
0.52%
|
237,614
|
$8,093,133 | — | 31 Dec 2025 | |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC |
13F
|
Company |
0.51%
|
234,637
|
$7,991,736 | — | 31 Dec 2025 | |
| ROYAL BANK OF CANADA |
13F
|
Company |
0.45%
|
205,953
|
$7,015,000 | — | 31 Dec 2025 | |
| Michael R. Dury |
3/4/5
|
CEO of Merchants Capital |
—
mixed-class rows
|
183,302
mixed-class rows
|
$6,695,992 | +$995,356 | 01 Feb 2026 | |
| D. E. Shaw & Co., Inc. |
13F
|
Company |
0.39%
|
180,308
|
$6,141,290 | — | 31 Dec 2025 | |
| Bank of New York Mellon Corp |
13F
|
Company |
0.36%
|
164,371
|
$5,598,490 | — | 31 Dec 2025 | |
| GOLDMAN SACHS GROUP INC |
13F
|
Company |
0.35%
|
162,285
|
$5,527,430 | — | 31 Dec 2025 | |
| FIRST TRUST ADVISORS LP |
13F
|
Company |
0.31%
|
141,145
|
$4,807,398 | — | 31 Dec 2025 | |
| MARSHALL WACE, LLP |
13F
|
Company |
0.31%
|
140,168
|
$4,774,124 | — | 31 Dec 2025 | |
| Qube Research & Technologies Ltd |
13F
|
Company |
0.3%
|
139,256
|
$4,743,059 | — | 31 Dec 2025 | |
| Ballast Asset Management, LP |
13F
|
Company |
0.29%
|
133,296
|
$4,540,062 | — | 31 Dec 2025 | |
| MILLENNIUM MANAGEMENT LLC |
13F
|
Company |
0.28%
|
128,011
|
$4,360,055 | — | 31 Dec 2025 | |
| Russell Investments Group, Ltd. |
13F
|
Company |
0.27%
|
122,690
|
$4,178,831 | — | 31 Dec 2025 | |
| JPMORGAN CHASE & CO |
13F
|
Company |
0.22%
|
101,714
|
$3,464,379 | — | 31 Dec 2025 | |
| RAYMOND JAMES FINANCIAL INC |
13F
|
Company |
0.18%
|
83,629
|
$2,848,389 | — | 31 Dec 2025 | |
| Black Maple Capital Management LP |
13F
|
Company |
0.18%
|
82,092
|
$2,796,054 | — | 31 Dec 2025 | |
| TWO SIGMA INVESTMENTS, LP |
13F
|
Company |
0.18%
|
80,276
|
$2,734,201 | — | 31 Dec 2025 | |
| UBS Group AG |
13F
|
Company |
0.16%
|
75,592
|
$2,574,663 | — | 31 Dec 2025 | |
| SAPIENT CAPITAL LLC |
13F
|
Company |
0.16%
|
75,521
|
$2,550,344 | — | 31 Dec 2025 | |
| Jerry F. Koors |
3/4/5
|
Merchants Mortgage President |
—
mixed-class rows
|
63,513
mixed-class rows
|
$2,490,729 | — | 01 Feb 2026 | |
| John F. Macke |
3/4/5
|
Chief Financial Officer |
—
class O/S missing
|
58,312
|
$2,459,017 | — | 01 Feb 2024 | |
| NEW YORK STATE COMMON RETIREMENT FUND |
13F
|
Company |
0.15%
|
71,034
|
$2,419,418 | — | 31 Dec 2025 | |
| DEUTSCHE BANK AG\ |
13F
|
Company |
0.15%
|
68,731
|
$2,340,978 | — | 31 Dec 2025 | |
| Trexquant Investment LP |
13F
|
Company |
0.15%
|
67,660
|
$2,304,500 | — | 31 Dec 2025 | |
| Y-Intercept (Hong Kong) Ltd |
13F
|
Company |
0.15%
|
66,816
|
$2,275,753 | — | 31 Dec 2025 | |
| BANK OF AMERICA CORP /DE/ |
13F
|
Company |
0.14%
|
63,775
|
$2,172,183 | — | 31 Dec 2025 | |
| Susan Dehner Kucer |
3/4/5
|
Indianpolis Market President |
—
mixed-class rows
|
54,074
mixed-class rows
|
$2,129,105 | — | 01 Apr 2024 | |
| HRT FINANCIAL LP |
13F
|
Company |
0.13%
|
59,224
|
$2,017,000 | — | 31 Dec 2025 | |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC |
13F
|
Company |
0.13%
|
58,969
|
$2,008,484 | — | 31 Dec 2025 | |
| DARK FOREST CAPITAL MANAGEMENT LP |
13F
|
Company |
0.12%
|
57,154
|
$1,946,665 | — | 31 Dec 2025 | |
| MACKENZIE FINANCIAL CORP |
13F
|
Company |
0.13%
|
57,324
|
$1,926,302 | — | 31 Dec 2025 |
Recent Insider Transactions by Companies or Individuals for Merchants Bancorp
Showing up to 300 most recent insider transactions from the last 12 months.
| Insider | Symbol | Class | Transaction | % | Value $ | * Price $ | Shares | Shares Owned | Date | Ownership |
|---|---|---|---|---|---|---|---|---|---|---|
| Michael F. Petrie | MBIN | Common Stock | Sale | -0.79% | $660,750 | $44.05 | -15,000 | 1,893,328 | 26 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -82.4% | $280,888 | $20.25 | -13,871 | 2,958 | 26 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -2.19% | $7,615 | $20.20 | -377 | 16,829 | 25 Feb 2026 | Direct |
| David N. Shane | MBIN | Common Stock | Award | 1.63% | 377 | 23,527 | 19 Feb 2026 | Direct | ||
| Anne E. Sellers | MBIN | Common Stock | Award | 3.17% | 377 | 12,278 | 19 Feb 2026 | Direct | ||
| Patrick D. O'Brien | MBIN | Common Stock | Award | 0.32% | 377 | 119,340 | 19 Feb 2026 | Direct | ||
| Andrew Juster | MBIN | Common Stock | Award | 1.48% | 377 | 25,791 | 19 Feb 2026 | Direct | ||
| Sue Anne Gilroy | MBIN | Common Stock | Award | 2.83% | 377 | 13,684 | 19 Feb 2026 | Direct | ||
| Thomas Dinwiddie | MBIN | Common Stock | Award | 1.71% | 377 | 22,385 | 19 Feb 2026 | Direct | ||
| Tamika Catchings | MBIN | Common Stock | Award | 5.38% | 377 | 7,385 | 19 Feb 2026 | Direct | ||
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -8.03% | $30,340 | $20.20 | -1,502 | 17,206 | 18 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -0.53% | $2,020 | $20.20 | -100 | 18,708 | 17 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -19.2% | $89,991 | $20.20 | -4,455 | 18,808 | 10 Feb 2026 | Direct |
| Martin A. Schroeter | MBIN | Common Stock | Sale | -33.6% | $253,330 | $46.06 | -5,500 | 10,881 | 10 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -38.6% | $295,122 | $20.20 | -14,610 | 23,263 | 09 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -15.9% | $144,410 | $20.20 | -7,149 | 37,873 | 06 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -4.32% | $41,087 | $20.20 | -2,034 | 45,022 | 05 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -12.8% | $139,966 | $20.20 | -6,929 | 47,056 | 04 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -2.5% | $27,937 | $20.20 | -1,383 | 53,985 | 03 Feb 2026 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -4.16% | $48,561 | $20.20 | -2,404 | 55,368 | 02 Feb 2026 | Direct |
| Sean A. Sievers | MBIN | Common Stock | Tax liability | -1.68% | -246 | 14,388 | 01 Feb 2026 | Direct | ||
| Martin A. Schroeter | MBIN | Common Stock | Tax liability | -3.89% | -663 | 16,381 | 01 Feb 2026 | Direct | ||
| Terry A. Oznick | MBIN | Common Stock | Tax liability | -7.88% | -2,685 | 31,374 | 01 Feb 2026 | Direct | ||
| Scott A. Evans | MBIN | Common Stock | Tax liability | -6.19% | -1,817 | 27,556 | 01 Feb 2026 | Direct | ||
| Michael J. Dunlap | MBIN | Common Stock | Tax liability | -3.53% | -7,766 | 212,196 | 01 Feb 2026 | Direct | ||
| Jerry F. Koors | MBIN | Common Stock | Tax liability | -4.53% | -2,140 | 45,106 | 01 Feb 2026 | Direct | ||
| Michael R. Dury | MBIN | Common Stock | Tax liability | -2.15% | -2,972 | 135,102 | 01 Feb 2026 | Direct | ||
| Michael F. Petrie | MBIN | Common Stock | Tax liability | -0.5% | -9,685 | 1,930,308 | 01 Feb 2026 | Direct | ||
| Langford Kevin T. | MBIN | Common Stock | Tax liability | -6.28% | -2,483 | 37,083 | 01 Feb 2026 | Direct | ||
| Sean A. Sievers | MBIN | Common Stock | Award | 78.3% | 6,427 | 14,634 | 27 Jan 2026 | Direct | ||
| Terry A. Oznick | MBIN | Common Stock | Award | 14.1% | 4,216 | 34,059 | 27 Jan 2026 | Direct | ||
| Scott A. Evans | MBIN | Common Stock | Award | 15.8% | 4,011 | 29,373 | 27 Jan 2026 | Direct | ||
| Michael J. Dunlap | MBIN | Common Stock | Award | 10% | 20,051 | 219,962 | 27 Jan 2026 | Direct | ||
| Jerry F. Koors | MBIN | Common Stock | Award | 13.3% | 5,553 | 47,246 | 27 Jan 2026 | Direct | ||
| Michael F. Petrie | MBIN | Common Stock | Award | 1.07% | 20,565 | 1,939,993 | 27 Jan 2026 | Direct | ||
| Langford Kevin T. | MBIN | Common Stock | Award | 13.2% | 4,628 | 39,566 | 27 Jan 2026 | Direct | ||
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -2.33% | $26,220 | $19.00 | -1,380 | 57,772 | 12 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -8.27% | $101,384 | $19.00 | -5,336 | 59,152 | 11 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -10.5% | $143,279 | $19.00 | -7,541 | 64,488 | 10 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -1.54% | $21,485 | $19.03 | -1,129 | 72,029 | 08 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -4.14% | $60,463 | $19.14 | -3,159 | 73,158 | 05 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -3.91% | $59,506 | $19.14 | -3,109 | 76,317 | 04 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -0.63% | $9,750 | $19.50 | -500 | 79,426 | 02 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -2.63% | $42,187 | $19.54 | -2,159 | 79,926 | 01 Dec 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -0.1% | $1,573 | $19.42 | -81 | 82,085 | 26 Nov 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -2.49% | $40,453 | $19.30 | -2,096 | 82,166 | 25 Nov 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -2.21% | $36,804 | $19.35 | -1,902 | 84,262 | 24 Nov 2025 | Direct |
| Michael F. Petrie | MBIN | Series C Depositary Shares | Sale | -11.8% | $222,067 | $19.20 | -11,566 | 86,164 | 21 Nov 2025 | Direct |
| David N. Shane | MBIN | Common Stock | Award | 2.49% | 562 | 23,150 | 19 Nov 2025 | Direct | ||
| Anne E. Sellers | MBIN | Common Stock | Award | 4.96% | 562 | 11,901 | 19 Nov 2025 | Direct |
* An asterisk sign (*) next to the price indicates that the price is likely invalid.