Trend Table for MBINO - Merchants Bancorp - Depositary Shares Each Representing a 1/40th Interest in a Share of Series B Fixed-to-Floating Rate

Current Trend Strength: Weak or Absent

Date	Grade	ADX	Long Term	Intermediate Term	Short Term	% Chg
Jun 13	A	Strong	Up	Up	Up	4.57%
Jun 12	A	Strong	Up	Up	Flat	5.16%
Jun 11	A	Strong	Up	Up	Flat	5.30%
Jun 10	A	Strong	Up	Up	Flat	4.99%
Jun 7	A	Strong	Up	Up	Flat	5.27%
Jun 6	A	Strong	Up	Up	Up	4.76%
Jun 5	A	Strong	Up	Up	Up	4.87%
Jun 4	A	Strong	Up	Up	Flat	5.42%
Jun 3	A	Strong	Up	Up	Flat	5.54%
May 31	A	Strong	Up	Up	Flat	5.33%