Company: MBINL
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001104659-25-032188
Chunk: 50

Company: Merchants Bancorp
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 50
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 Fees (1)         |     | $ | 1,238,738 |     | $ | 712,940 |
| Audit Related Fees (2) |     |   |   108,463 |     |   | 104,843 |
| Tax Fees (3)           |     |   |         0 |     |   | 101,025 |
| TOTAL                  |     | $ | 1,347,201 |     | $ | 918,808 |

| (1) | Includes fees billed for the audit of consolidated financial statements,                                                              
 including review of interim financial information contained in Quarterly Reports on Form 10-Q and other regulatory reports. Also      
 includes fees for comfort letters associated with common stock and preferred stock offerings.                                         |
| (2) | Includes fees associated with the audit of our employee benefits plans, audit associated with the Uniform Single Attestation Program, 
 Ginnie Mae custodial audit, and multifamily servicer audit.                                                                           |
| (3) | Includes fees billed for tax compliance services, including preparation of federal and state income tax returns.                      |

Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of Independent Registered Public Accounting Firm. The Audit Committee is responsible for appointing, setting compensation, and overseeing the work of the independent registered public accounting firm. In accordance with its charter, the Audit Committee approves, in advance, all audit and permissible non-audit services to be performed by the independent registered public accounting firm. All of the fees for permissible audit-related, tax, and services of Forvis Mazars, LLP were pre-approved by the Audit Committee. 36 PROPOSAL 3 – RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM The Board’s Audit Committee has appointed, and the Board has ratified, Forvis Mazars, LLP to be the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, subject to ratification by shareholders. A representative of Forvis Mazars, LLP is not expected to be present at the annual meeting to respond to questions from shareholders or make a statement. If the ratification of the appointment of the independent registered public accounting firm is not approved by a majority of the votes cast by shareholders at the annual meeting, the Audit Committee will consider other independent registered public accounting firms. The Board recommends that shareholders vote “FOR” the ratification of the appointment of Forvis Mazars, LLP as the Company’s independent registered public accounting firm.