Merchants Bancorp, founded in 1990 and headquartered in Carmel, Indiana, operates as a diversified bank holding company throughout the United States. Its operations are organized into three primary divisions: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking division specializes in the origination and servicing of government-backed mortgages for multi-family residential properties and healthcare facilities. This segment also provides tailored financing solutions for projects like independent living, assisted living, memory care, and skilled nursing, and manages the syndication of low-income housing tax credit and debt funds. The Mortgage Warehousing segment provides capital for residential loans eligible for agency backing, covering their initial origination, subsequent purchase, and eventual sale in the secondary market. Additionally, it extends commercial loans to non-depository financial institutions. The Banking segment delivers a comprehensive range of financial products and services to both individual consumers and businesses. This includes various deposit accounts, alongside a diverse portfolio of loan products such as multi-family construction and bridge loans, commercial real estate loans, commercial and industrial loans, agricultural loans, residential mortgages, and consumer loans. Furthermore, this segment is involved in single-family mortgage lending, offering construction, bridge, and lot financing, first-lien home equity lines of credit, and Small Business Administration (SBA) lending programs.