Michael Petrie is Chairman of the Board and Chief Executive Officer of Merchants Bancorp (MBIN). The company reported total compensation of $2,534,695 for fiscal year 2025.
| Salary | $1,000,000 |
|---|---|
| Bonus | $750,000 |
| Stock awards | $750,006 |
| Option awards | $0 |
| Non-equity incentive plan | $100 |
| Pension and non-qualified deferred compensation | $0 |
| All other compensation | $34,589 |
| Total | $2,534,695 |
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed, without adjustment.
Cited to the compensation disclosure Merchants Bancorp filed April 10, 2026, accession 0001104659-26-042047.
| Fiscal year | Role | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | Chairman of the Board and Chief Executive Officer | $1,000,000 | $750,000 | $750,006 | $0 | $100 | $0 | $34,589 | $2,534,695 |
| FY2024 | Chairman of the Board and Chief Executive Officer | $950,000 | $0 | $978,531 | $0 | $978,600 | $0 | $32,798 | $2,939,929 |
| FY2023 | Chairman and Chief Executive Officer | $900,000 | $0 | $954,001 | $954,100 | — | $0 | $31,437 | $2,839,538 |
Totals as disclosed in each year's own compensation disclosure for Merchants Bancorp.
| Peer-group chief executive median | $3,803,565 |
|---|---|
| Difference from that median | $-1,268,870 |
| Percentile within the disclosed peer group | 14th |
| Peers with a disclosed figure | 21 |
Medians and percentiles are computed across the peer group Merchants Bancorp discloses in its own compensation disclosure.
| Named executive officer | Role | FY2025 total |
|---|---|---|
| Michael Dury | President and Chief Executive Officer of Merchants Capital | $6,647,758 |
| Michael Petrie this page | Chairman of the Board and Chief Executive Officer | $2,534,695 |
| Michael Dunlap | President and Chief Operating Officer of the Company and President and Chief Executive Officer of Merchants Bank | $2,452,110 |
| Martin Schroeter | President – Warehouse Lending | $1,364,500 |
| Sean Sievers | Executive Vice President and Chief Financial Officer | $1,108,268 |
The company's named executive officers for fiscal year 2025, and what it reported for each. See the full Merchants Bancorp compensation brief.
Michael Petrie's compensation sits inside Merchants Bancorp's full executive and board picture — the peer group, pay against peers, incentive design and the board itself.