Merchants Bancorp Details IPO Pricing

Posted: Updated:
The bank's new headquarters building is currently under construction in Carmel. (photo courtesy city of Carmel) The bank's new headquarters building is currently under construction in Carmel. (photo courtesy city of Carmel)

Carmel-based Merchants Bancorp has released more details on its upcoming Initial Public Offering. The parent of Merchants Bank of Indiana has not yet released a date for the IPO, but says it now expects to raise up to $105.6 million.

The bank plans to offer 5,555,555 shares of stock at an initial price currently expected to be between $17.00 and $19.00 per share. Merchants could offer underwriters a 30-day option to purchase an additional 833,333 shares, which could bring the IPO earnings total to more than $121 million.

Merchants says it will list its stock on the Nasdaq Capital Market under the ticker symbol "MBIN." 

When plans for the IPO were first announced last month, the bank said it intends to use $5.8 million to complete its pending acquisition of Joy State Bank in Illinois. Merchants says it will contribute a portion of the net proceeds to its Merchants Bank of Indiana subsidiary and use the remainder for general corporate purposes such as future acquisitions and other growth initiatives.

You can view the bank's full registration statement filed with the U.S. Securities and Exchange Commission by clicking here.

  • Perspectives

    • How to Find a New Audience After Hitting a Marketing Plateau

      It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • (photo courtesy of WTHR-TV)

      Andrew Luck Retiring from NFL

      In a shocking development following the Indianapolis Colts' preseason loss to the Chicago Bears, quarterback Andrew Luck has announced his retirement from the NFL. Luck, who did not play in Saturday's game, said the number of injuries he has suffered throughout his professional career "has taken my joy of this game away." Luck teared up during a news conference in which he made his announcement. "After 2016 where I played in pain and was unable to regularly...

    • Shaina Keck

      Pier 48 Manager Named

      FK Restaurant Group has named Shaina Keck sales and banquet manager for Pier 48 Fish House and Bar in downtown Indianapolis. She previously served in sales at Kilroy's Bar & Grill. Keck is a graduate of Indiana University Kelly School of Business with a bachelor of science degree in finance and accounting with a concentration in international studies.  
    • (image courtesy of The Times of Northwest Indiana)

      Crews Start Demolition of Carson's in Hammond

      The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s. 

    • (Image courtesy of Northern Indiana Commuter Transportation District)

      Michigan City Commits $12M to South Shore Track Project

      The Michigan City Common Council has formally committed to contribute $12 million towards the proposed $416 million Double Track project for the South Shore commuter line. Our partners at The Times of Northwest Indiana report the council voted unanimously to pay $7 million upfront and finance the remaining $5 million through a 20-year bond issue. 

    • On-Air

      Find out when and where you can watch and listen to our reports.