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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K [ Mark One ] □ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 OR □ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from INDIANA to Commission file number 001-38258 MERCHANTS BANCORP ( Exact name of Registrant as specified in its charter ) ( State or other jurisdiction of incorporation or organization ) 20-5747400 ( I.R.S. Employer Identification No. ) 410 Monon Blvd. Carmel , Indiana ( Address of principal executive offices ) Registrant's telephone number , including area code : ( 317 ) 569-7420 Title of each class Securities registered pursuant to Section 12 ( b ) of the Act : Common Stock , without par value Series A Preferred Stock , without par value Depositary Shares , each representing a 1 / 40th interest in a share of Series B Preferred Stock , without par value Trading Symbol ( s ) MBIN MBINP MBINO 46032 ( Zip Code ) Name of each exchange on which registered NASDAQ NASDAQ NASDAQ Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes □ No ☑ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes □ No ☑ Indicate by check mark whether the registrant : ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No ☐ Indicate by check mark whether the registrant has submitted electronically , every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S - T ( § 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes > No □ Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of “ large accelerated filer , ” “ accelerated filer , ” “ smaller reporting company , ” or “ emerging growth company " in Rule 12b - 2 of the Exchange Act . ( Check one ) : Large accelerated filer □ Accelerated filer Non - accelerated filer Smaller reporting company Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . □ Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes □ No At June 30 , 2020 , the aggregate market value of the voting and non - voting common equity held by non - affiliates of the registrant ( assuming solely for the purposes of this calculation that all Directors and executive officers of the registrant are " affiliates " ) was $ 301.3 million . As of February 25 , 2021 , the Registrant had 28,782,139 shares of Common Stock outstanding . DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant's proxy statement , for its 2021 annual meeting of shareholders to be held May 20 , 2021 , to be filed within 120 days after December 31 , 2020 , are incorporated by reference into Part III of this Form 10 - K .