Company: MBINL
Filing Date: 2025-05-23
Form Type: S-3
Source: 0001104659-25-052423
Chunk: 9

Company: Merchants Bancorp
Filing Date: 2025-05-23
Form: S-3
Chunk 9
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 to raise additional capital, if necessary;

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compliance with governmental and regulatory requirements, relating to banking, consumer protection, securities and tax matters;

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our ability to maintain licenses required in connection with residential and multi-family mortgage origination, sale and servicing operations;

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our ability to identify and address cyber-security risks, fraud and systems errors;

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our ability to effectively execute our strategic plan and manage our growth;

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changes in our senior management team and our ability to attract, motivate and retain qualified personnel;

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governmental monetary and fiscal policies, and changes in market interest rates;

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effects of competition from a wide variety of local, regional, national and other providers of financial, investment and insurance services;

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the impact of any claims or legal actions to which we may be subject, including any effect on our reputation; and

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changes in federal tax law or policy.

The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this report. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

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TABLE OF CONTENTS

### PROSPECTUS SUMMARY
This summary provides a general description of the securities we may offer. This summary is not complete and does not contain all of the information that may be important to you. For a more complete understanding of us and the terms of the securities we will offer, you should read carefully this entire prospectus, including the “Risk Factors” section, the applicable prospectus supplement for the securities and the other documents we refer to and incorporate by reference. In particular, we incorporate important business and financial information into this prospectus by reference.

#### The Securities We May Offer
We may use this prospectus to offer securities in an aggregate amount of up to $500,000,000 in one or more offerings. A prospectus supplement, which we will provide each time we offer securities, will describe the amounts, prices and detailed terms of the securities and may describe risks associated with an investment in the securities in addition to those described in the “Risk Factors” section of this prospectus. We will also include in the prospectus supplement, where applicable, information about material United States federal income tax considerations relating to the securities. Terms used in this prospectus will have the meanings described in this prospectus unless otherwise specified.

We may sell the securities to