Merchants Bancorp, an Indiana bank focused on FHA loans with $3 billion in assets, filed on Monday with the SEC to raise up to $115 million in an initial public offering.
The Carmel, IN-based company was founded in 1990 and booked $103 million in revenue for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol MBIN. Sandler O'Neill, Stephens Inc., Raymond James and SunTrust Robinson Humphrey are the joint bookrunners on the deal. No pricing terms were disclosed.
