Merchants Bancorp has announced changes to its executive team, effective January 1.

Randall Rogers (pictured) has been appointed vice chairman. He will continue to serve as a director of Merchants and a director and vice chairman of Merchants’ subsidiary, Merchants Bank of Indiana, positions Rogers has held since October 2006 and March 2002, respectively. He currently serves as president and chief operating officer, a position he has held since 2011 and chairman of Merchants’ subsidiary, P/R Mortgage and Investments Corp. a position he has held since P/R was founded by him and Michael F. Petrie in August 1990, but has retired from such roles effective January 1.

Michael Dunlap has been promoted to president and chief operating officer. He will continue to serve as a director of Merchants and president and co-chief operating officer of Merchants Bank, positions he has held since April 2014. Dunlap joined Merchants Bank as senior vice president of mortgage banking in 2009. Prior to joining Merchants Bank, he served as CFO of National City Mortgage, which is now part of The PNC Financial Services Group Inc.

Michael Dury has been promoted to president of P/R. He will continue to serve as COO of P/R. Dury has been with P/R since July 2007 in various capacities, initially as a real estate investment officer and subsequently as assistant vice president, vice president, senior vice president and executive vice president and COO.

Also, Michael Petrie has been appointed chairman of P/R, replacing Rogers in such role. He will also continue to serve as chairman and CEO of Merchants and Merchants Bank, positions Petrie has held since October 2006 and March 2002, respectively.

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