Trend Table for MBINM - Merchants Bancorp - Depositary Shares, Each Representing a 1/40th Interest in a Share of 8.25% Fixed-Rate Reset Series D Non-Cumulative Perpetual Preferred Stock

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jun 7	B	Weak or Absent	Up	Flat	Flat	7.70%
Jun 6	C	Weak or Absent	Up	Flat	Flat	7.74%
Jun 5	B	Weak or Absent	Up	Up	Flat	7.24%
Jun 4	C	Weak or Absent	Up	Flat	Flat	7.91%
Jun 3	B	Weak or Absent	Up	Up	Up	6.75%
May 31	B	Weak or Absent	Up	Up	Flat	7.20%
May 30	B	Weak or Absent	Up	Flat	Flat	7.78%
May 29	B	Weak or Absent	Up	Flat	Flat	7.78%
May 28	B	Weak or Absent	Up	Up	Flat	7.20%
May 24	B	Weak or Absent	Up	Flat	Flat	7.70%