Merchants Bancorp Welcomes Sean Sievers as CFO
Merchants Bancorp (NASDAQ: MBIN) is thrilled to announce the appointment of Sean Sievers as the new Chief Financial Officer. With over 25 years of experience in the banking and mortgage industries, Sievers is set to enhance the financial leadership of the company and its subsidiary, Merchants Bank.
Sean Sievers: A Seasoned Financial Executive
Before taking this significant role at Merchants Bancorp, Sievers held the position of CFO at a leading national mortgage banking firm. His extensive background includes pivotal roles such as CFO at Countrywide's Internet Bank, Senior Director at Freddie Mac, and various leadership positions within SunTrust and Citibank. Sean's wealth of experience in financial management equips him with the insights necessary to drive Merchants Bancorp's strategic vision forward.
Transition from John Macke
Sievers' appointment follows an extensive search for a new CFO after John Macke announced his upcoming retirement. Macke, who joined Merchants in 2017, played a key role in the company's public offering and growth from a $3 billion to an $18 billion institution. They will work closely together until Macke's official retirement later this month.
Leadership Continuity and Future Goals
Michael Dunlap, President and CEO of Merchants Bank, expressed confidence in Sievers' capabilities, stating, "Each of these experiences has equipped Sean with the skills and insights necessary to support our unique business model and future growth plans." Sean's analytical skills and strategic thinking will be vital as the company pursues its goals.
Education and Professional Background
Sievers earned his Bachelor of Science in Accounting from California Lutheran University and is a former licensed public accountant. His educational foundation, combined with his vast professional experience, positions him as a leader capable of navigating the complexities of the current financial landscape.
About Merchants Bancorp
Merchants Bancorp, recognized as a top performer in U.S. public banking, operates with a diversified structure. With $18.2 billion in assets and $14.9 billion in deposits as of mid-2024, the company thrives in multiple segments. These include Multi-family Mortgage Banking, Mortgage Warehousing, and traditional community banking. Merchants Bancorp’s wide-ranging services demonstrate its commitment to serving varied financial needs in today's economy.
Growth and Financial Services
The company not only focuses on financial growth but also on providing exceptional service across its banking sectors. From multi-family housing financing to agricultural lending, Merchants Bancorp is well-prepared to meet diverse needs in the market. Its strategic approach aligns efforts in delivering reliable customer service while maximizing shareholder value.
Frequently Asked Questions
Who is Sean Sievers?
Sean Sievers is the newly appointed Chief Financial Officer of Merchants Bancorp with over 25 years of experience in the banking sector.
What role did John Macke play at Merchants Bancorp?
John Macke served as CFO prior to Sean Sievers and was instrumental during the company's initial public offering and overall growth.
What are the key responsibilities of the new CFO?
As CFO, Sievers will oversee financial planning, reporting, and strategic initiatives to support the company's growth objectives.
What does Merchants Bancorp specialize in?
Merchants Bancorp specializes in a variety of financial services, including multi-family mortgage banking and community banking.
What is the size of Merchants Bancorp?
As of mid-2024, Merchants Bancorp has approximately $18.2 billion in assets and $14.9 billion in deposits, showcasing its substantial market presence.
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