Merchants Bancorp operates as a diversified bank holding enterprise across the United States. Its operations are primarily structured into three key segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking division focuses on originating and servicing government-sponsored mortgages for multi-family residential properties and healthcare facilities. It also develops specialized loan offerings tailored for independent living, assisted living, memory care, and skilled nursing projects. Additionally, this segment functions as a syndicator for low-income housing tax credit and debt funds. Through its Mortgage Warehousing segment, the company finances residential loans eligible for agency programs, covering their origination, acquisition, and subsequent sale in the secondary market. This unit also extends commercial loans to non-depository financial institutions. The Banking segment provides a comprehensive array of financial products and services to both consumers and businesses. This includes various deposit accounts, alongside a diverse lending portfolio encompassing multi-family construction and bridge loans, commercial real estate, commercial and industrial, agricultural, residential mortgage, and consumer loans. Furthermore, this segment offers single-family mortgage lending, financing for construction, bridge, and lot development, first-lien home equity lines of credit, and Small Business Administration (SBA) lending products. Merchants Bancorp was founded in 1990 and is headquartered in Carmel, Indiana.