New York, New York--(Newsfile Corp. - April 30, 2026) - Levi & Korsinsky notifies investors that it has commenced an investigation into Merchants Bancorp ("Merchants Bancorp") (NASDAQ: MBIN) concerning potential violations of the federal securities laws.

The Q1 2026 earnings release showed what appeared to be a headline beat. Beneath that number, brokered deposits -- a key funding source for the bank -- had declined approximately 50% compared to Q1 2025. At the same time, the Company's cost of funds increased materially. The market's reaction was immediate: MBIN shares fell 9.3% as investors recalculated the sustainability of the Company's earnings trajectory in light of the deposit contraction and funding-cost pressure.
Prior to the Q1 2026 release, the Company had emphasized "strong deposit growth" in communications with investors. The earnings report did not reconcile that characterization with the scale of the brokered-deposit decline. Analysts and investors who had relied on prior deposit-growth messaging absorbed the new data and sold.

If you suffered a loss on your Merchants Bancorp securities and would like to explore a potential recovery under the federal securities laws, Learn More About the Investigation or contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or call (212)363-7500 to speak to our team of experienced shareholder advocates.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

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Source: Levi & Korsinsky, LLP