Company: MBINL
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032188
Chunk: 7

Company: Merchants Bancorp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 7
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 Risk is inherent in any business; as is the case with other management functions, our senior management has the primary responsibility for managing the risks we face. However, as a financial institution, our business involves financial risks that do not exist, or that are more extensive than the risks that exist, in some other types of businesses. We are subject to extensive regulation that requires us to assess and manage those risks, and our regulators assess our performance in that regard during their examinations. As a result, the Board is actively involved in overseeing our risk management programs. While the full Board is charged with ultimate oversight responsibility for risk management, various committees of the Board and members of management also have responsibilities with respect to our risk oversight. In particular, the Audit Committee oversees and assesses our financial risk and the Risk Committee monitors our credit, operational, and compliance risks, including our enterprise risk management program, and each receives regular reports from senior management regarding comprehensive risk as well as particular areas of concern. The Compensation Committee monitors and assesses the various risks associated with compensation policies and oversees incentives that encourage a level of risk-taking consistent with our overall strategy. Further, our Chairman meets regularly with senior management to discuss strategy and the risks we face. Senior management attends Board meetings and is available to address any questions or concerns raised by the Board on risk management and any other matters. Board Committees Each of the Audit, Compensation, and Nominating and Corporate Governance Committees are comprised solely of directors that meet the definition of “independent director” under the Nasdaq rules, and as to the Audit Committee, also satisfy the requirements of SEC Rule 10A-3. All members of the Risk Committee are independent directors with the exception of Mr. Dinwiddie. Each committee meets at such times as determined to be necessary. Each committee has a written charter which sets forth the committee’s duties and responsibilities and is reviewed by that committee on a regular basis. The current charters of the committees are available on our website ( investors.merchantsbancorp.com) under the corporate profile – governance documents section. 5 The following table identifies the committee members.

| Director                   |     | Audit |     | Compensation |     | Nominating and 
      Corporate 
     Governance |     | Risk |
| Tamika D. Catchings        |     |     M |     |            M |     |              M |     |    M |
| Thomas W. Dinwiddie        |     |     - |     |            - |     |              - |     |