Michael Dury joined Merchants Capital in 2007 and has held various positions within the firm, including investment officer and Chief Operating Officer. He was promoted to President and Chief Executive Officer in 2018. Under Mr. Dury’s leadership, Merchants Capital has grown from a small FHA lender to a nationally ranked full-service FHA and GSE affordable lender with more than $40B originated to date. In 2023, Merchants Capital was ranked the #1 FreddieMac Optigo® Targeted Affordable Housing Lender and a top five Fannie Mae Producer for Multifamily Affordable Housing. He helped lead the launch of the firm’s tax creditequity division which finished in the top 20 of LIHTC syndicators in 2023. Mr. Dury leads a team of 250 employees located remotely and across Merchants Capital’s six regional offices nationwide. He sits on the executive management committee of Merchants Bancorp and has been key to the company’s growth and eventual initial public offering in 2017. Since 2017, Merchants Bancorp has experienced record growth with a current market capitalization of approximately $2 billion and total assets near $17 billion. the company has also been ranked the #1 top-performing bank in Indiana and #3 nationally by S&P Global. Mr. Dury is a Board Member of VIUM Capital, which was ranked among the top 3 FHA Healthcare Lenders in 2023.

Mr. Dury has an undergraduate degree from The University of Notre Dame and an MBA in finance from Indiana University’s Kelley School of Business. He was selected as a“Future Leader” by the Mortgage Bankers Association and was named to the Indianapolis Business Journal’s Forty Under 40 list, recognizing business leaders who have achieved success and excelled in their field before the age of 40. He was also the recipient of the 2020 Indy’s Best and Brightest award presented by Junior Achievement for the banking and financial services industry.