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Levi & Korsinsky said it has commenced an investigation into Merchants Bancorp (“Merchants Bancorp”) (NASDAQ: MBIN) regarding potential violations of the federal securities laws.
The firm pointed to Merchants Bancorp’s Q1 2026 earnings release, which it said appeared to show a “headline beat.” However, it highlighted that brokered deposits—described as a key funding source for the bank—declined by approximately 50% compared with Q1 2025. At the same time, the company’s cost of funds increased materially.
According to the release, the market reacted quickly to the funding and cost developments. MBIN shares fell 9.3% as investors reassessed the sustainability of the company’s earnings trajectory in light of the deposit contraction and funding-cost pressure.
Levi & Korsinsky said that prior to the Q1 2026 release, Merchants Bancorp emphasized “strong deposit growth” in communications with investors. The earnings report, the firm said, did not reconcile that characterization with the scale of the brokered-deposit decline, leading analysts and investors who had relied on earlier messaging to adjust their views and sell.
The firm stated that investors who suffered losses on Merchants Bancorp securities may explore a potential recovery under the federal securities laws. It also provided contact information for Joseph E. Levi, Esq. at jlevi@levikorsinsky.com and by phone at (212) 363-7500.
Source: Levi & Korsinsky, LLP
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