Form 3 - Initial statement of beneficial ownership of securities
September 11 2024 - 9:54PM
Edgar (US Regulatory)
Exhibit 24
POWER OF ATTORNEY
The undersigned hereby constitutes and appoints
each of Terry A. Oznick and Tami L. Durle, acting singly and with full power of substitution, the undersigned’s true and lawful
attorney-in-fact to:
| 1. | prepare, execute in the undersigned’s name and on the undersigned’s behalf, and submit to the United States Securities
and Exchange Commission (the “SEC”) a Form ID, Uniform Application for Access Codes to File on EDGAR, if necessary, and
any other documents necessary or appropriate to obtain codes, passwords, or anything similar, as applicable, enabling the undersigned
to make electronic filings with the SEC of reports required by Section 16(a) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”) or any rule or regulation of the SEC; |
| 2. | execute for and on behalf of the undersigned, in the undersigned’s capacity as an officer and/or director of Merchants Bancorp
(the “Company”), Forms 3, 4 and 5 (and any amendments thereto) in accordance with Section 16(a) of the Exchange
Act and the rules and regulations thereunder, and any other forms or reports the undersigned may be required to file in connection
with the undersigned’s ownership, acquisition, or disposition of securities of the Company; |
| 3. | do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any
such Forms 3, 4, or 5, Form ID, or other form or report, or any amendments thereto, and timely file such form or report with the
SEC and any stock exchange or similar authority; and |
| 4. | take any other action in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the
best interest of, or legally required by or for, the undersigned, it being understood that the documents executed by such attorney-in-fact
on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such information, disclosures,
terms, and conditions as such attorney-in-fact may approve in such attorney-in-fact’s discretion. |
The undersigned hereby grants to each such attorney-in-fact
full power and authority to do and perform any and every act and thing whatsoever required, necessary or proper to be done in the exercise
of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally
present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorneys-in-fact, or such attorney-in-fact’s
substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein
granted.
The undersigned acknowledges that the foregoing
attorneys-in-fact, in serving in such capacity at the request and on the behalf of the undersigned, are not assuming, nor is the Company
assuming, any of the undersigned’s responsibilities to comply with, or any liability for the failure to comply with, any provision
of Section 16 of the Exchange Act.
This Power of Attorney shall remain in full force
and effect until the undersigned is no longer required to file Forms 3, 4 or 5 with respect to the undersigned’s holdings of and
transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to each of
the foregoing attorneys-in-fact. If at any time, any of the aforementioned attorneys-in-fact are no longer employed by the Company or
its affiliates, such person’s appointment as attorney-in-fact shall terminate.
IN WITNESS WHEREOF, the undersigned has executed
this Power of Attorney as of August 21, 2024.
|
/s/ Sean A. Sievers |
|
Sean A. Sievers |
STATE OF INDIANA |
) |
|
): |
COUNTY OF HAMILTON |
) |
Signed (or attested) before
me on August 21, 2024.
[Notary Seal]
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