Mr. Petrie has served as Chairman and Chief Executive Officer of the Company since October 2006 and has also served as Chairman of Merchants Bank since March 2002. From March 2002 through December 2019, Mr. Petrie served as Chief Executive Officer of Merchants Bank, and served as President of the Company s subsidiary Merchants Capital Corp. ( Merchants Capital ) from when it was founded by Mr. Petrie and Mr. Rogers in August 1990 until January 2018. In addition to Mr. Petrie s positions at the Company and its subsidiaries, Mr. Petrie serves as the trustee of the Michael F. Petrie & Jody J. Petrie Foundation and is a former President of the Indiana Affordable Housing Council and the Multifamily Lenders Council, Inc. Additionally, Mr. Petrie serves on the National Board for the Indiana University Varsity Club, the Advisory Board for the Indiana University Center for Real Estate Studies, the board of directors of RDOOR Housing Corporation, an affordable housing non-profit located in the Indianapolis area, and the board of directors of Crooked Stick Golf Club. In 2005, Mr. Petrie served as Chairman of the Mortgage Bankers Association Board of Directors, Washington, D.C., and has previously served on the Board of Trustees for Marian University. Mr. Petrie is a graduate of Indiana University with both a Bachelor of Science and Master of Business Administration in finance. Mr. Petrie brings to the Board, among other skills and qualifications, extensive bank management experience derived from over 46 years in the mortgage banking industry. Mr. Petrie also brings to the Board a broad strategic vision for the Company, and the Board believes this is valuable in developing and implementing the Company s strategic growth initiatives.