Merchants Bancorp, a top-performing U.S. public bank, has appointed Sean Sievers as its new Chief Financial Officer, effective September 9, 2024. Sievers brings over 25 years of executive financial leadership in the banking and mortgage industries to the role, having previously served as CFO at Rate (formerly Guaranteed Rate), among other leadership positions in prominent financial institutions.
Sievers joins Merchants Bancorp during a critical period, as the company has seen significant growth from a $3 billion bank to an $18 billion institution today. John Macke, the company's current CFO, played a key role in supporting this growth and will be retiring at the end of September. Macke, who joined Merchants in 2017, was instrumental in the company's initial public offering (IPO) and has been recognized for his expertise in capital raises, securitizations, liquidity strategies, financial reporting, and the development of new lines of business.
Merchants Bancorp, with $18.2 billion in assets and $14.9 billion in deposits as of June 30, 2024, operates multiple segments, including multi-family mortgage banking, mortgage warehousing, and traditional community banking. The company conducts its business primarily through its direct and indirect subsidiaries, reflecting its diversified bank holding company structure.
Sievers, who holds a Bachelor of Science in Accounting from California Lutheran University and is a former licensed public accountant, will be based at Merchants Bank's headquarters in Carmel, Indiana.
The appointment of Sean Sievers comes as Merchants Bancorp continues to execute its strategic vision and pursue future growth plans, leveraging his wealth of experience to support the company's unique business model. Following these announcements, the company's shares moved -1.5%, and are now trading at a price of $42.35. If you want to know more, read the company's complete 8-K report here.
