Jerry Koors
About Jerry Koors
Jerry F. Koors, age 61, serves as President – Merchants Mortgage and joined Merchants in October 2013 after nearly two decades at PNC Mortgage as Regional Vice President (since February 1995). He has 30+ years in lending and bank management, including leading up to 120 loan officers across five states focused on investment-quality originations sold to agencies . Company-level performance metrics tied to executive incentives in 2024 were total revenue, EPS, and ROAE; results were revenue $646.454m vs $591.354m target (109%), EPS $6.30 vs $6.31 target (100%), and ROAE 16.86% vs 17.12% target (99%), leading to a 103% payout for eligible executives .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PNC Mortgage | Regional Vice President | 1995–2013 | Led up to 120 loan officers across five states in agency-eligible originations |
| Merchants Mortgage (Merchants Bank) | President – Merchants Mortgage | 2013–Present | Oversees single-family origination and servicing; approved seller/servicer to Ginnie Mae, Fannie Mae, Freddie Mac; platform contributes fees, gain-on-sale, servicing income and supports Banking segment strategy |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| None disclosed in Company filings for Koors |
Fixed Compensation
- Not disclosed for Jerry Koors. MBIN’s proxy statements provide detailed compensation only for Named Executive Officers (NEOs), and Koors is not listed among NEOs in 2024/2025 .
Performance Compensation
Koors-specific equity awards, targets, and payouts are not disclosed. Company context for 2024 NEO equity incentives (equal weighting across measures; RSUs vest ratably over 3 years, first vest on Feb 1 following year one) is below.
| Metric | Weighting | Target (2024) | Actual (2024) | Payout for Metric | Vesting Terms |
|---|---|---|---|---|---|
| Total Revenue | Equal weighting | $591,354,000 | $646,454,000 | 109% | RSUs vest ratably over 3 years; first vest Feb 1, 2026 |
| Earnings per Common Share | Equal weighting | $6.31 | $6.30 | 100% | RSUs vest ratably over 3 years; first vest Feb 1, 2026 |
| Return on Average Total Equity | Equal weighting | 17.12% | 16.86% | 99% | RSUs vest ratably over 3 years; first vest Feb 1, 2026 |
| Average Payout | — | — | — | 103% (award payout factor applied) | — |
Note: MBIN states that, to date, it has issued only restricted stock units under the 2017 Plan; other instruments like options have not been used .
Equity Ownership & Alignment
- Individual beneficial ownership, vested/unvested breakdown, and any pledging for Koors are not disclosed in proxies (beneficial ownership tables list directors and NEOs; Koors is not enumerated) .
- Company-level policies: No ownership guidelines for directors/executive officers; hedging and pledging are not prohibited but require General Counsel approval for directors/executives (alignment risk) .
- ESOP: Company-funded ESOP allocates shares to eligible employees (including executives) with five-year ratable vesting; participants can vote and receive dividends on allocated shares (including unvested) .
Employment Terms
- Role start: Joined Merchants in October 2013 as President of Merchants Mortgage .
- Employment contracts: Proxies disclose “at-will” arrangements and change-in-control agreements for certain NEOs; there is no disclosure indicating whether Koors has a change-in-control agreement .
- Company change-in-control terms (for certain executives): Double-trigger severance equal to 2x base salary plus 2x target cash incentive; 12-month non-compete and non-solicit; clawback; severance contingent on release of claims . The 2017 Plan allows accelerated vesting upon change in control with qualifying termination; awards otherwise forfeit if employment ends, unless approved by the Committee .
Investment Implications
- Tenure and domain expertise: Koors’ 30+ years in mortgage lending and leadership of Merchants Mortgage anchor execution depth in the single-family platform that complements Banking segment strategy and provides origination/servicing capabilities .
- Alignment risks: Absence of ownership requirements and allowance of hedging/pledging (with approval) reduce mandated “skin-in-the-game,” potentially weakening long-term alignment; Koors’ individual holdings are not disclosed, limiting visibility into sell pressure or compliance with any internal ownership targets .
- Incentive design context: Company ties NEO incentives to revenue, EPS, and ROAE with multi-year RSU vesting; while Koors’ participation is undisclosed, the broader framework favors performance linkage and retention for covered executives .
- Risk backdrop: Company-level credit issues in multi-family during 2025 were highlighted, but Merchants Mortgage operates the single-family platform; execution focus for Koors remains origination/servicing discipline and risk controls within the Banking segment .