Fraud Weighs On Earnings Of Bank That Specializes In Multifamily Loans
Merchants Bancorp of Indiana, a regional bank with a $500M multifamily loan book, has more than quintupled the money it has set aside to cover potential losses because of an increase in fraud in its loan portfolio. A Merchants Bank branch in Spring Grove, Minnesota. Merchants Bank’s net income fell by 50%, or roughly $38M year-over-year, in